Ambidextrous innovation focuses on short and long-term goals
The ability to handle both short and long-term innovation goals is a key characteristic of a successful organization. Ambidextrous innovation does this by supporting both exploration and exploitation. The former looks for new opportunities while the latter focuses on incremental improvements, including ways to maximize the impact of existing projects and products.
Ambidextrous innovation is a platform for creativity
Forbes describes corporate innovation as “having out-of-the-box thinking as a strategy within your business”. Ambidextrous innovation promotes idea sharing, whether it's improving on existing ideas or introducing new ones, by giving employees the opportunity to contribute. The fact that intrapreneurs feel able to go anywhere with their creativity will help them unearth new ideas.
Ambidextrous innovation is a method for company-wide buy-ins
Modern innovation relies on embracing ideas from all parties. Bottom-up innovation brings new perspectives while also making employees feel valued, engaged, and happy - which, according to statistics makes them 13% more productive. Top-down innovation will still be present, but the even playing field creates a workforce of creatives.
Ambidextrous innovation is open to new strategies
An ambidextrous approach in innovation fosters a culture of continuous improvement, whether it be through incremental changes or groundbreaking innovations. It encompasses various methodologies such as Six Sigma and lean manufacturing, which not only break down barriers like resistance to change but also provide a framework for measuring success. From learning from failures to making incremental upgrades, ambidextrous thinking is the perfect mindset for driving progress and achieving excellence.
The right innovation tools will allow you to make the transition or increase your commitment to ambidextrous innovation with greater ease. To find out more or book a demo, contact the rready team now.
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