What Is Innovation?What Is Novelty?What Are the Types of Innovation?Product Innovation
|
What Is Innovation?
In its simplest definition, innovation is creating added value by making innovative changes to existing products, services or processes. Moreover, innovation means not just inventing something new but also improving what exists and making it more efficient and effective.
“Innovation is the adaptation of the elements of workforce, knowledge and infrastructure to knowledge, products, services and systems with a new approach. In this respect, innovation is the product of a culture that is open to renewal, compatible with the process of change and integrated with the concept of entrepreneurship.” (source)
Innovation and Regional Development in Türkiye, Z. Yılmaz & E. İncekaş
For example, Platin Yaka, the pioneering platform for leaders, is a product of innovation. Mehtap Yıldız, who supports individuals and organizations in the field of product and innovation at Platin Yaka, says the following in her article titled “Yüzleşme”:
“According to an index published by WIPO, Türkiye ranks in the middle of the world rankings in terms of ‘creative class’ and ‘innovation capacity.’”
For this reason, an innovation culture should be taken as a serious matter by companies and employees in Türkiye.
What Is Novelty?
Novelty is the name given to every kind of useful change put forward in an organization or society by going beyond existing methods and ideas.
However, not every novelty is innovation; innovation is the form of novelty that has been put into practice and has produced a pragmatic result.
What Are the Types of Innovation?
You can review the items below for the main types of innovation:
Product Innovation
The aim is to develop a new product or improve an existing one. For example, electric vehicles or contactless payment systems are examples of product innovation.
Service Innovation
It is defined as innovation in service delivery. For example, easing the customer experience with mobile apps in banking is a service innovation.
Process Innovation
In this type of innovation, the aim is to make business processes more efficient and faster. Digital innovation stands out at this point. For example, optimizing production processes with automation systems becomes possible when “process innovation” is achieved.
Business Model Innovation
This is a type of innovation that changes the way a company generates revenue or creates value. For instance, the “subscription-based services” companies offer are a fitting example of this type of innovation.
You can find the main types of innovation frequently mentioned in business life in the table below.
| Type of Innovation | Description |
| Product Innovation | New or improved products |
| Process Innovation | Innovations in ways of working, in the production or service process |
| Organizational Innovation | Innovations in corporate structure, management style or business processes |
| Marketing Innovation | New marketing strategies or differentiation in customer interaction |
| Disruptive Innovation | Innovations that radically change the existing order |
What Is Corporate Culture?
Corporate culture is the whole of the shared values, beliefs, symbols and behavior patterns among employees. This culture determines how an organization operates and employees' decision-making processes.
You've learned the answer to the question of what corporate culture is. So, would you like to know what experts say on this subject? Selen Kocabaş, who is part of Platin Yaka and provides fractional leadership services to organizations, notes that star employees with difference-making performance are extremely important for ensuring the sustainability of corporate culture.
If you're looking for a mentor for yourself or for your company's needs, you're in the right place. You can easily reach Selen Kocabaş, a strategy leader with more than 30 years of experience in business and people management, through Platin Yaka.
What Is an Innovation Culture?
An innovation culture refers to a mindset in which new ideas and change are encouraged within the organization, failure is seen as a learning opportunity, and risk-taking and collaboration are kept at the forefront.
According to Avner Engel, an innovation culture is “the culture that leaders cultivate to nourish creative thinking and behavior.” (Book: Practical Creativity and Innovation in Systems Engineering)
Why Is an Innovation Culture Important and Necessary?
An innovation culture refers to a work environment in which employees are open to new ideas, don't hesitate to take risks and are encouraged to learn continuously. Moreover, an innovation-focused structure is critically important for turning uncertainty into opportunity. Organizations that can keep up with the pace of change can more easily seize opportunities for success in the future.
According to research, in companies open to new ideas, employees feel psychologically safe, so both employee happiness and performance increase. In other words, psychological safety and open communication are the key to employee happiness and performance.
How Is an Innovation Culture Built in a Company?
An innovation culture refers to a whole mindset that supports novelty. At the same time, the existence of an innovation culture in a company enables change to be managed easily and a continuous-improvement-focused corporate atmosphere to be created.
Now let's examine the methods of building an innovation culture in companies:
-
Change the Understanding of Leadership
To build an innovation culture in companies, those in management must ensure that innovation spreads to the entire staff. Emphasizing that failures are a learning opportunity also strengthens this culture.
-
Provide Open Communication and Collaboration in the Company
An open environment must be provided where all employees can freely communicate their ideas and where different teams can produce value together. Using digital innovation tools also enables innovative ideas to spread easily within the organization.
-
Increase Training and Development Opportunities
Explaining innovation and the value of this important concept through workshops and training enables employees to be inspired and to think innovatively.
-
Ensure That Successes Are Recognized and Rewarded
In companies where an innovation culture has taken root, new ideas should be rewarded. Employees who present new and useful ideas should be made visible within the company.
-
Create Joint Projects
Developing joint projects with external stakeholders and bringing different experiences together nourishes the spirit of innovation.
-
Give Employees Initiative
Giving employees at every level the opportunity to show themselves and create new experiences will enable the innovation culture to develop in the organization.
-
Get Mentoring
Mentoring means providing support and knowledge to a less experienced person in the organization from a more experienced perspective. While companies are in the growth and development phase, they can gain momentum by getting support from mentors outside the company. The same applies to people who want to advance in their careers.
If you want to provide mentoring to people in your organization, you can review the profiles of the expert people on the Platin Yaka platform.
Mentor recommendation on Strategic Sales: Yeşim Öztekin
Mentor recommendation on Growth and Efficiency: Levent Kocatürk
-
8. Try the Fractional Leadership Method
What is fractional leadership? Fractional leadership is a consulting model that allows leaders to steer the company for a limited period. Thanks to fractional leadership, a flexible leadership model, you can have your company evaluated with a new perspective in the area it needs.
Platin Yaka brings together experienced experts in business life and enables you to find a suitable leader for your company. Platin Yaka is Türkiye's first and only platform offering online fractional leadership services. Discover Platin Yaka now here.
Frequently Asked Questions
What is corporate culture?
Corporate culture is the whole of an organization's core values, beliefs, behaviors and ways of doing business. This concept determines both how employees within the company communicate with one another and how the organization appears to external stakeholders. A strong corporate culture enables employees to unite around a common purpose and gives the organization an identity.
What is innovation?
Innovation, which has its origin in the Latin word innovare (to renew), means the process of improving a product, service or process or putting forward an entirely new solution. In the modern business world, innovation is not limited to technology. Organizational restructuring, marketing methods and business model transformations also fall within the scope of innovation.
What are the types of innovation?
Product innovation, service innovation, process innovation and business model innovation are the main types of innovation.
How is an innovation culture built?
To build an innovation culture, an organization needs to embrace innovative thinking. This way, the employees in the company are enabled to actively participate in idea-generation processes.
What is the benefit of an innovation culture for companies?
Innovation is an indispensable concept in our age and is extremely important in business life. Competitive advantage, employee engagement, customer satisfaction and sustainable growth are the main benefits an innovation culture provides to companies.
Can an innovation culture be built in small businesses?
Yes, innovation is not unique to large companies. An innovation culture can be built rapidly in small businesses too, thanks to their flexible structures. Companies that embrace an innovation culture stay one step ahead in a changing world. To start the innovation journey in your company, take a step today and start getting consulting from the experts at Platin Yaka in a fast, secure and practical way.
Other Articles That May Interest You
“The Trillion-Dollar Dinner”: 10 Lessons for Türkiye from the US's AI Move - Defne İncekara
What Is Leadership? What Is Fractional Leadership and Why Does It Matter? - The Platin Yaka Team
