We hear a lot about being an industry innovator, but how can you become one without developing technology from scratch or completely breaking the rulebook? Uptake's transformation team works with anyone, every day. You can be innovative, but we believe that understanding the basics and practicing your skills is the key to success.
If you want to maximize your opportunities as a leader, you can instill an innovation mindset at the team level. To this end, it is paramount to understand the various non-technological aspects of innovation, as well as strategies for developing innovation within teams.
Risks of technology-centricity in pharmaceutical companies
Innovation is all around us: in product design, customer experience, business models, and organizational culture. By expanding the definition of innovation outside of technology, we can stimulate creativity and growth in unconventional areas.
Looking beyond Airbnb's pharmaceutical business, we see that technology is part of its success, but could an app alone have disrupted the hospitality industry? Unlikely. The company reimagined accommodations and travel experiences, exploding the “sharing” economy and offering unique stays. Similarly, innovative thinking has created new models that have propelled companies like Uber and Netflix to industry leaders. These companies have found new approaches to delivering traditional services in novel ways.
We see pharmaceutical companies investing in the latest technology tools, thinking they have the magic key and offering the easiest path to innovation, but what people are noticing is As such, without a culture that supports creativity and risk-taking, you will not be able to realize the full potential of your investments. Difficult to adapt. New technology can even damage morale and team connection, so if this happens, you need to rebuild this first before committing to a change in mindset.
Organizations that prioritize only technological solutions run the risk of becoming technocentric, where technology overshadows the human element of innovation. True innovation requires a holistic approach that incorporates change.
Championing the idea of innovation
There are five steps leaders can take to develop a culture that supports innovation.
- Develop psychological safety. Create an environment where team members feel comfortable taking risks, sharing ideas, and expressing disagreement without fear of criticism or retaliation. Psychological safety is the foundation on which innovation thrives.
- Encourage diverse perspectives. We embrace diversity in all its forms, including gender, ethnicity, background, and ideology. Diverse teams bring different perspectives and experiences, which naturally stimulates creativity and innovation.
- think like a scientist. We encourage a culture of free experimentation, where failure is seen as a natural part of the learning process. Encourage your team to test hypotheses, gather feedback, and iterate quickly to refine ideas.
- Provide support. Invest in training, tools, and resources to give your team members the skills and knowledge they need to innovate effectively. Support your innovation efforts with dedicated time, budget, and leadership support.
- Lead by example. Leaders of change and change teams must embody the values of innovation and serve as role models for their teams. Demonstrates a willingness to embrace change, take calculated risks, and challenge conventional thinking.
Impact of innovation
With so many goals to accomplish, it can be hard to argue with how much time you should prioritize developing an innovation mindset, but here are some proven ways to start a wave of positive change over time. There are advantages.
- Teams with an innovation mindset are better able to adapt to changing market conditions, emerging trends, and disruptive forces.
- Encouraging creativity and diverse thinking leads to the generation of novel ideas and solutions that drive business success.
- Providing opportunities for autonomy, mastery, and purpose creates a sense of ownership and engagement among team members, which increases happiness and longevity in their roles.
- Cultivating an innovation mindset equips teams with the resilience and agility they need to navigate uncertainty and effectively overcome challenges.
So while there is no doubt that technology is the main driver of innovation, true transformation comes from cultivating an innovation mindset alongside the technology solutions, software, and platforms you choose. The better you embed innovation and build a culture of creativity, adaptability, and experimentation, the more likely you are to achieve lasting success.
This column was published in the March issue of PME. Read the full story here.
