Competition is always evolving. Companies need a way to anticipate and exploit change through and innovation to produce competitive advantages and lead in the marketplace.
Companies focusing on innovation understand that resources, systematic frameworks and processes need to be in place in order to succeed. Many might believe that innovation should be part of the role of every employee. However, unless there is a strategy and an organized approach to supporting the development of new ideas and use cases, innovation within an organization can become a distraction and transformation programs fall short.
A corporate innovation team is typically a group dedicated to developing new techniques, products, services, processes or tools for an organization. Often companies have a difficult time identifying resources who can be agile, have both business and general technical skills – and who can also experiment and steer new products to market.
Innovation teams need to have the ability to navigate unknown situations within an organization. They are frequently writing new processes and standards in order to ensure success. Piloting or scaling a new service or product, where there is no existing experience in the domain, requires understanding from the innovation team to communicate, collaborate and execute new value propositions and carefully manage uncertainty within the organization. These teams frequently operate like a “startup” within the business. They are highly collaborative, share a spirit of experimentation, curiosity, learning and fiercely execute complex problems.
Now is the time to Invent the Future!
This keynote address was delivered at the Innovation Research Interchange (IRI) 2020 Conference on Digital Futures, hosted by Case Western Reserve University. Katie Trauth Taylor is CEO of Untold Content, an innovation storytelling firm that supports scientific, medical, tech, and social innovation companies with content strategy, creation, and training.
Storytelling is Essential for Innovations to Succeed
Leading innovators are always learning and have to bring others into the future with them by implementing a strategic framework to accomplish innovation and digital transformation goals. Storytelling is essential for innovations to succeed. N³ Innovation is partnering with a corporate innovation team is developing a Digital Business Strategy and planning to execute a new GTM product.
This company's innovation team has identified a new market and they have the products and knowledge to enter into this new area. It is the innovation team’s job to be sure that the Executive decision makers can see the opportunity.
Innovators must tell the story about the developing trends and connect the dots between the current business is and what it can become. They also need to develop the strategy and plan to get there. Having that optimistic, yet cautious approach is imperative for success. Being able to use storytelling to bring others into the future is an effective strategy.
N³ Innovation has developed the stories and strategy for success with this an other corporate innovation teams. Entering a new market can be risky, but with the right plan, it can really pay off. N³ Innovation’s mission is to help corporate clients create measurable enterprise value by inventing the future. Clients have generated millions of dollars of revenue in new markets, with new products and new technologies. Want to learn more about storytelling for innovation, contact us today!