In a large product- driven market structure innovation is defined as the result of a combination of insights and disciplines. In a bank structure innovation is the connection with consumers which has led to opening of new branches. It is the process of bringing new solutions, products and profits to the market.
Here are four ways I can inspire innovation on my team:
1. Visioning and encouraging creative conflict. If I am developing a new product, I will envision what kind of product that will meet the wishes of my customers. Next, I'll put together a team of opinionated people with different backgrounds who will hash out new innovative products and ideas.
2. After brainstorming, I 'll encourage my team to visit experts to see new products or technology in use. Then I ask them to exhibit their discoveries in a show and tell sessions. Then they experiment.
3. Exploring. As a leader I'll inspire my team to play around without any process in mind using symbols, analogies and metaphors.. The attitude is 'let's see where this leads us.' This practice was used by the Swiss mountaineer who invented the velcro.
4. Mentoring and good leadership style. As the leader, I'll avoid the bossy and hierarchy leadership style which stifles innovation. I'll create a fun work place that generates faster ideas and innovation.
I recommend exploring, mentoring and good leadership style is the best practice.
As the leader of the team I can measure the effectiveness of my strategies through my track records, progress and revenue from the innovation. When organizational mindset changes significantly in a positive direction. My best practices is also measured effective when my team and I have achieved a successful quest for insight and execution of our creativity or innovation. Most important when my team,people and customers carry the organization and innovations further.
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