“Identify winning ideas that have high business impact”

Akshay Bellare, President, Honeywell India on five ways to create a culture of innovation 

Published 4 years ago on Aug 25, 2020 1 minute Read

Inclusive ideation: Begin by aligning cross functional teams with diverse backgrounds and experience. Then, define the “playing field” and criteria for success so that the expectation of outcome is clear and in line with company strategy.

Idea selection: Create a conducive environment that enable teams to challenge one another. Critique ideas to identify fatal flaws, expand the idea and challenge assumptions. Identify winning ideas that address customer needs and have high business impact.

Accountable execution: Clear accountability and asking the right questions is key to better outcomes. Define the team/person accountable for execution of ideas and the outcomes expected.  The devil is in the details, never underestimate the power of detailed reviews.

Maintain objectivity: Be dispassionate while building the idea pipeline and managing the portfolio of funded ideas. Kill what is not going to further the larger vision or will not help in meeting the end goal of business growth.

Reward and Record: Celebrate and reward, irrespective of outcome. Be it ideas that have been successfully executed, put on hold or killed, one should celebrate creative thinking and ensure the team is recognized for bringing in diverse ideas. Always record the learning and the outcome of the exercise.