It’s that time again. A new year is upon us and for many leaders, this is a time to refocus on strategic priorities.

I’ve certainly been in my share of meetings where conversations are taking place about what needs to be achieved in the year ahead.

There’s no doubt that innovation is a strategic priority for many organisations. Many leaders are prioritising innovation in their quest to differentiate themselves, enter new markets or remain competitive and relevant to their customers.

Making innovation a priority is a great start but not enough to generate the results that a true innovation journey will achieve. Innovation requires a clear and focused plan.

So, what do you need to consider when developing your innovation plan? Ask yourself the following questions:

Why? Innovate with purpose. Know why innovation is important to your business and focus it on the things that matter.

What? Be focused with your innovation effort. This involves a clear strategy around the type of innovation you are pursuing. Is the focus on incremental innovation to your core business, or more disruptive or game changing opportunities?

Why now? Tune into context and conditions. What opportunities are being created by economic, social or technological changes taking place?

Who? Harness the human energy around you. Does your innovation plan build the confidence and capability of your employees to think and act in innovative ways? Are you involving your customers and partners in the innovation process?

How? Ideas live or die on disciplined execution. Have you defined a disciplined innovation process? When your employees or customers get a great idea, what do they do with it?

Contact Coretex Group today if you are interested in learning more about our innovation planning workshops. connect@coretexgroup.com.au