SBUS46070

Many companies prioritize innovation as the primary driver of significant growth. However, senior leaders recognize that effectively managing innovation is a complex undertaking, posing challenges for many organizations. To enhance their innovative capabilities, companies must embark on a strategic journey to establish the requisite framework consisting of appropriate mindsets and capabilities.

This module offers guidance on developing your innovation framework to facilitate this journey. Innovation encompasses various facets across the organization, including digital innovation in products, services, experiences, channels, processes, and entire business models. Central to this endeavor is cultivating the right mindsets—the amalgamation of thoughts, feelings, and behaviors—among stakeholders to drive innovation and organizational transformation forward. While processes provide the structure for innovation, it is ultimately people who drive its execution.

At the heart of digital transformation lies innovation, which drives the creation of new or enhanced products, services, processes, customer experiences, and business models through the integration of digital technologies. Innovations not only inform an organization's digital strategy but also uncover both operational and strategic opportunities. This module begins by examining innovation fundamentals, the innovation process, and essential tools and frameworks. It then delves into the content and methodology of digital strategy to outline a guiding framework. Additionally, the module explores strategies for fostering an innovation ecosystem within the organization, collaborating with startups, incubating ideas, and scaling innovations.