How do you manage innovation and change?

How to promote organizational change & InnovationEnsure that senior leaders truly embrace the idea of innovation. Define what innovation means for your organization. Track innovation efforts from start to finish. The whole process of expecting greater benefits from change and innovation involves first developing a holistic and long-standing plan in this regard.

Demographic, social, technological and behavioral changes lead to a growing need for innovation in product development and sales processes. An important success factor is discovering the innovative potential of the insurance company and thus taking a significant step towards a culture that supports innovation. Under current market conditions, introducing significant innovations to the market is an important means of providing opportunities for growth. Innovation is also a way to retain talent, but an inappropriately chosen approach can lead to high innovation costs, long implementation times and the associated risk of business failure.

In recent years, there has been little significant innovation in the areas of product development and sales processes, especially in relation to life insurance. The first step in managing change and innovation in your value stream is to assess your current state. This means mapping your existing processes, activities, inputs, results and metrics that provide value to your customers. You can use tools such as sticky notes, whiteboards, or software to create a visual representation of your value stream.

You should also collect data on key performance indicators (KPIs), such as cycle length, delivery time, performance, quality, and customer satisfaction. This will help you identify the strengths and weaknesses of your current value stream, as well as gaps and opportunities for improvement. The next step in managing change and innovation in your value stream is to envision your future state. This means defining the results, objectives and vision you want for your value stream.

You can use techniques such as brainstorming, benchmarking, or customer feedback to generate ideas and viewpoints for innovation. You should also consider external factors that may affect your value flow, such as customer expectations, competitive forces or technological changes. Based on your vision, you can create a future state map that shows what you want your value stream to look like, what changes you need to make, and what benefits you hope to achieve. The third step in managing change and innovation in your value stream is to plan and prioritize your actions.

This means creating a roadmap that outlines the steps, resources, and timelines for implementing changes and innovations in your value stream. You should also prioritize your actions based on their impact, viability and urgency. You can use tools such as the Pareto principle, the Eisenhower matrix or the MOsCOW method to help you prioritize your actions. You must also involve stakeholders, such as your customers, employees, suppliers or partners, in the planning and prioritization process to ensure their acceptance and support.

The fourth step in managing change and innovation in your value stream is to execute and monitor your actions. This means implementing your plan, testing and validating your changes and innovations, and measuring and tracking your results. You must use methods such as agile, lean or kaizen to execute your actions iteratively and incrementally, allowing you to learn and adapt quickly. You should also use tools such as dashboards, reports, or feedback cycles to monitor your actions and evaluate their effects on your KPIs, customer satisfaction, and value delivery.

The fifth step in managing change and innovation in your value stream is to review and improve your actions. This means analyzing and reflecting on their actions, learning from their successes and failures, and identifying and implementing improvements. You should use techniques such as retrospectives, audits or surveys to review your actions and gather feedback from stakeholders. You should also use tools such as PDCA (plan-do-verify-act), A3 (a problem-solving framework) or root cause analysis to improve your actions and resolve any problems or problems that arise.

The article aims to be a reflective document on the interconnected concepts of training, development and innovation and the potential they have to face change in organizations. We call change both the process through which something is made different and the result of that process. Change management is the expression used to define the complex of activities, functions and tools (such as training courses) through which an organization deals with the introduction of something new that is relevant both to its survival and to its growth. Training and development are labels used to define the educational activities that are implemented in organizations to enhance the competencies of workers, employees and managers from the perspective of lifelong learning to improve their performance.

Consequently, we define competencies as those personal characteristics that enable people to be effective in the changing contexts of the workplace and everyday life. They are also necessary in organizational innovation, which is the process of transforming ideas or inventions into goods or services that generate value and for which customers will pay. Training, development and innovation are three different but interconnected functions through which organizations manage change. What is the state of the art of literature dealing with these issues? Here is a critical review on the subject.

The study by Sung and Choi (201) is one of the few that examines the effects of training and development activities on organizational innovation. From these lines, it is possible to derive two different principles for innovation, which must be taken into account in training and development activities. This could be due to the fact that respondents participated in different innovation teams, with differences in partnerships, cooperation tools and objectives. Involves organizations, groups, and individuals in managing work processes in areas such as customer relations, employee performance, and knowledge retention and management.

Employee feedback, market research, identifying growth factors, obtaining results before and after change management are vital factors when measuring impact. For the study, publications on interorganizational learning, innovation and change management, business associations and networks in organizational management, and human resources surveys were consulted. In more general terms, organizational innovation means the application of new and useful methods to carry out business practices, the organization of the workplace or external relations. For example, the investments that an organization dedicates to training and development activities contribute to creating a climate for continuous learning; and this type of climate, as stated in Lau and Ngo (200), stimulates a certain flow of information and ideas among employees, which promotes the creation of new knowledge and innovation.

These are some of the most important reasons why people who participate in innovation teams must be properly trained to be able to cooperate and generate innovation in organizations through teamwork and collaboration. .

Dominic Mccoard
Dominic Mccoard

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