Allowing innovation to flow freely throughout the organisation

Innovation is the lifeblood of any organisation. Without it an organisation will stagnate and quickly lose relevancy and competitive edge. With many industries experiencing digital disruption and other factors such as globalisation opening up new markets, a company’s ability to come up with and bring new products and services to market is even more important. And they need to do so in accelerated timeframes.

Innovation isn’t just about developing new products and services but striving to do things better and improving practices and processes and performance and productivity. With automation and new technologies bringing huge scope for improving operating models, leaders must ensure innovation is allowed to flow freely throughout the organisation.

Developing a culture and strategy for innovation

A disconnect sometimes exists between the top tier’s aspirations to be innovative and the more day-to-day risk (sometimes) more averse culture and practices that exist in the organisation. Rialto works with organisations to help eliminate the barriers to innovation and develop both a culture and strategy that enables it to flourish. This includes:

• Instilling an intrapreneurial spirit in the organisation and a safe to fail culture
• Implementing practical mechanisms in place to ensure great ideas come to the surface from anywhere in the company
• Accelerating systems for rapid prototyping
• Instilling an increased appetite for risk at senior levels
• Acknowledging and rewarding innovation by building it into the culture & performance management practices.

Collaborative working and ecosystems

Innovation doesn’t just come from inside of the company but from external sources and routes as well. The world of business is experiencing a rapid rise of strategic partnerships, joint ventures and ecosystems which can provide organisations with rapid access and exposure to new thinking, technologies, ideas, products and services that will help them to access and penetrate new markets. Rialto works with leaders to maximise the value of these new approaches:

• Identifying where opportunities for strategic partnerships might exist
• Evaluating potential opportunities and reducing risk of failure
• Helping to build relationships with third party and sometimes competitor companies
• Advising on the leadership style and tone for partnership/ecosystem working
• Building trust with partners/ecosystems members

Traditional routes to new products, services and ways of working are too constrained and slow for today’s fast-paced business environments when competitive edge can be quickly lost to a competitor company or disruptive start-up. Rialto aims to instil the mindset and provide practical measures for innovation to flourish throughout organisations so they too can disrupt and create new markets.

Innovation isn’t just about developing new products and services but striving to do things better