There are countless innovations that did not see the light of the day. There are other products that are doing well in the market, not necessarily because they are creatively innovative. What then makes the difference? The difference lies in the level of commitment, consistency, and synergy of the innovation team. For an idea to the material into a revolutionary product, it requires the creative inputs and commitment of every member of the innovative team. Everyone must be willing to be an integral part of the success story.
For a product to enjoy great market value there is a need for cohesiveness from the development stage to the implementation stage. A result-oriented innovation team must identify seamlessly the factors that may negatively affect their ideas development and implementation and thus work to forestall those nay-factors.
Why does great innovation team fail to pull ideas through? There are many reasons situations as this can happen. The following are some of the reasons.
1. Lack of Synergy
It seems we are all created to inter-depend on each other. Synergy is when the fraction of everyone's effort is put deployed for the greater good of all. When the innovation team does not see things through ‘a single eye', the chances are that the product or innovation being reeled out may suffer hitches that will plunge its prospects. Synergy also means cohesive activities targeted towards achieving set out plans.
2. Missing Engagement
Most companies feel innovation team lack the authority to approve vital decisions. The situation is that the team must be engaged and given access to high-level authority in some cases. High-level executives don’t have to be in every meeting but they ought to know about key issues. They should only when it is required.
3. No Feasibility analyse
Innovation feasibility must be pre-determined. There are a thousand and one products that do not do great in the market once launched. This is probably because the team was not too innovative to ascertain the prospect of the product in terms of its feasibility, viability or acceptability. Success is a product of pre-determined efforts and activities. Sufficient information is necessary for a product's marketability and potentials even before the product is developed.
4. Product without value
Every product must be targeted at solving one problem or the other. Therefore, when a product does not either create or add value, the tendency that it will not have a great market prospect is much. This now entails that for a product to be considered effective, it must create value or add value. Towards ensuring that product creates the needed value, the innovation team must do a thorough homework. They should not speculate and make assumptions that a product will do well in the market. They should ascertain with certainty that the product has the potentials to do well.
5. No course committment
There are products that are ordinarily not great, yet they garner great market potentials. This could be as a result of packaging, advert and the efforts deployed in pushing the products. When an innovation team pushes a product determinedly, that product may become a great toast amidst other products. Commitment is a virtue that can turn common things to great innovations.
6. Unclear Objectives
Most times, the team is asked to convey a completed product in a tight timescale while emphasizing on ROI. It is better to plan to deliver a minimum viable product in a fraction of the budget and time. The goal is to get the MVP before clients rapidly in order to learn their response and approve the idea. The emphasis ought to be on quick feedback as opposed to quick payback. Unclear objectives are not much help, but far more atrocious are targets which are too ambitious, tight and restrictive.
7. Unsufficient Resources
The team can't be relied upon to deliver much if they meet after work. They require space, time and cash. The innovation team is a high priority for every member. Also, they ought to be free from different obligations to enable them to dedicate time for a task. An entire day every week is recommended days.
8. Homogenity
It is not a great plan if a team comes from one department. You require a team with the right blend of abilities. If everyone on the team is inventive and skilled, then they have incredible ideas to complete projects effectively and on time. However, if all team members lack the necessary skill to complete a project, the team will fail
9. Unknown Customers needs
Team members must understand their Customers needs. Innovation can likewise fail, if an organization does not understand what their client need. A considerable number of new innovations do not succeed since organizations are ignorant of their client issues. For disruptive breakthroughs, companies need to know what their clients want, how they communicate with other companies and consumer.
10. No team Motivation
You can't advance alone. Except you have a team that and supports what you want to unravel, Innovation will fail. Innovation requires. Various activities fail due to the absence of incentives and recognition programs. When teams are motivated, you get better insights and results. Your innovation teams need to be empowered to construct new innovative and services.
Failed innovation is a product of an inconsistent and disjointed innovation team. Therefore, if you wish your product to garner extensive acceptability in the market, there is a need for every innovative team member to be a creative team player.
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