Innovation is the most challenging management discipline of them all, and the skills and traits needed are not typically part of the regular management repertoire i.e., developing deep customer insights rather than relying on market reports; taking stepped funding decisions based on assumptions rather than proven facts; running small experiments to verify hypotheses rather than launching into costly project programs.
The new ISO 56000 series of guidance standards on innovation management breaks new ground to enable organisations of all sizes navigate a systems approach to integrating innovation into all the layers of an organisation. It offers best practice, procedures and guidance that provide a general, guiding framework for the successful implementation, maintenance, and continual improvement of an innovation management system.
ISO 56002, Innovation Management System, published in July 2019 covers all aspects of innovation management, from how to generate initial ideas, right through to selling something new in the marketplace. It considers seven elements including context, leadership
- The benefits of implementing a process aligned to the ISO Innovation Management System will impact every part of your business model, your people and processes, including Increased ability to manage uncertainty;
- Increased growth, revenues, profitability, and competitiveness;
- Improved common understanding and language within an organisation;
- Reduced costs and waste, and increased productivity and resource efficiency;
- Improved sustainability and resilience;
- Increased satisfaction of users, customers, citizens, and other interested parties;
- Sustained renewal of the portfolio of offerings;
- Engaged and empowered people in the organisation;
- Increased ability to attract partners, collaborators, and funding;
- Enhanced reputation and valuation of the organisation;
- Improved ability to understand other organisation’s ability to innovate;
- Facilitated compliance with regulations and other relevant requirements.
Ultimately, it will give your organisation first-mover advantage, safeguard your future while boosting positive returns on innovation investments, and allow you to successfully operationalise innovation management as a core competency. Further details on the standards are available at the National Standards Authority of Ireland.
Other complementary documents in the ISO 56000 series include:
- ISO 56000 Fundamentals and vocabulary
- ISO 56004 Intellectual property management
- ISO 56003 Innovation partnerships
- ISO 56005 Strategic intelligence management
- ISO 56003 Innovation Management Assessment
- ISO 56007 Idea management