What is Innovation Innovation Processes in Businesses

What is Innovation? Innovation Processes in Businesses

Innovation is a term frequently used in today’s business world. In the innovation era we live in, innovation is a necessary element for companies to grow and achieve their goals. Knowing when and how to innovate is the key to success.

Technological developments directly contribute to rapid change. We feel the effects of technological developments both in our personal lives and in our business processes, and we keep up with these developments. Innovation in the business world is changes to improve products, services, and business processes. Innovation is a requirement that applies to all businesses, regardless of company size. The changes brought about by innovation have a significant impact on how companies serve customers.

However, this definition is just the beginning. Innovation encompasses all aspects of life. Its effects are felt by everyone.

What Is Innovation?

Innovation means creating something new. Many people think that innovation means developing a new product. In reality, the key to innovation is timing and opportunity.

Knowing when change is necessary is crucial to innovation. Updating an existing product or changing a process is as innovative as creating a new one. It’s all about recognizing a need and acting accordingly.

In other words, businesses should adopt an innovative company culture. This enables businesses to adapt to emerging opportunities more quickly and easily. The fact that a business knows its industry, market, and customers in the best way enable these opportunities to be noticed.

Innovation processes are very important for an innovation move to be successful. How do the innovation processes for companies start and how do they continue?

Capturing Opportunities

A business needs to constantly track and evaluate opportunities for potential innovation ideas. These opportunities may stem from the innovative ideas of employees in the business, the changing needs of customers, the work of competitors, newly developed technologies, or suppliers. A business that does not want to lose its competitiveness should be able to catch such signals in no time.

Making the Strategic Choice

Before allocating resources to start innovation, the most strategically important opportunity should be selected. At the beginning of the factors to be considered in this selection is the current adequacy status of the business processes, the needs and wishes of the customers. Even large companies with ample resources devoted to innovation cannot seize all opportunities. The real success is to choose the opportunity that offers the greatest competitive advantage and turn it into innovation.

Obtaining Necessary Information

Before starting to implement the innovative idea that has the highest potential to provide competitive power to the business, the resources needed should be planned. For this purpose; First, the necessary information should be gathered to develop the product, service, or process. In addition to written information, accessing unwritten information is also of great importance.

Evaluation process

This stage allows evaluating the successes and failures of all other stages, to produce the necessary information and to better manage their innovation process. Not every innovation project is successful. The important thing is to identify all the positive and negative outputs related to the project at the end of the process. These identified outputs will provide experience for new ideas in a culture of continuous innovation.

The Impact of the Suggestion System on Innovation

So far, we have talked about the definition of innovation and the processes necessary for it to progress correctly. Suggestion systems are a solution that supports the innovation culture in companies and enable this culture to progress more systematically.

The suggestion system solution is also called “corporate suggestion system” and “employee suggestion system”. Suggestion systems enable company employees to convey their suggestions, complaints, and opinions about the company to authorized persons. The corporate suggestion system acts as a bridge between the employees and the management in the enterprises. In a world that is changing day by day, people working with employee suggestion systems have taken the steps of continuous change by finding innovative ideas for themselves and the company without stabilizing the current situation.

Developed with artificial intelligence and machine learning technologies, our “Employee Suggestion System Solution” provides end-to-end management of suggestion processes in companies. All suggestions are classified by artificial intelligence and machine learning and transferred directly to the relevant suggestion manager. In addition, all communication processes related to the proposal process are carried out through the platform.

You can contact us to get information about our solution.