Innovation Framework - MIT ID Innovation

1
Framework for Strategic Innovation MITID
Innovation
2
In today's world, "adapt or die" becomes a
crucial approach for businesses' success.
Therefore, innovation acts as a significant role
in businesses as it helps in growth, keeps the
business relevant, and helps businesses stand out
with a unique personality. 
3
An organization needs a multidisciplinary
and holistic framework that allows businesses to
employ a strategic approach to innovation.
Strategic Innovation is the development of new
product categories, business models, growth
strategies, and services that completely change
the game and bring new values of innovation in
entrepreneurship, consumers, and customers.
4
To help you with creating a successful Innovation
framework, we have mentioned 6 key steps that
will help you create an Innovation Framework -
5
Create a Scalable Platform for Success
An Innovation framework is a scalable and
worldwide platform developed to tackle your
employees' creative skills and talents by
residing in alignment and your corporate
approach. Basically, it is a strategic procedure
to bring innovation that offers a way to act on
the latest ideas. 
6
Develop The Accurate Organizational Principles
A prime key to promote innovation in your company
is to develop a category of innovation
proficient's. These champions promote a solid
transformation of ideas for big complications
that can have adverse effects on the company. 
7
Captivate Your Companys Employees
The true evaluation of any aspect is how others
amazingly grasp and accept it or execute it well
on their own. It is said that bringing the right
people at the start can mean a better option for
success in the end.  Well, it is the power
of innovation for Employees. Therefore, it is
essential to close the coupling of employees to
the program's sustainability and success. 
8
Develop and Idea Management Tool
Idea Management tool performs a crucial role in
the strategic innovation framework. It
contributes a great helping hand for employees to
participate and maintain transparency to the
entire procedure. This tool also supports social
collaborations with both subject matter experts
and innovation experts to explore more potential
resources and ideas. 
9
Keep a Sharp Eye on Targeted Innovation
Having an Innovation Framework also helps
stakeholders to deal with several challenges and
solve troubles. You can call it "Targeted
Innovation." Whenever you begin your innovation
framework, make use of targeted innovation to
focus on improvements needed in existing products
and services. It also helps to train employees on
this latest new approach to innovation and
collaborations. 
10
Organize the Backend of Innovation
Well, the screening procedure is made on the
premise of lessening risk factors while offering
incremental funding, recognition, and rewards
ideas to proceed successfully. The prime goal
behind it is to identify and execute
highly-effective business ideas rapidly. 
11
Consequently, the strategic innovation framework's
execution will prove highly beneficial and
productive for the company's growth. It helps in
boosting productivity, reducing costs, improving
brand value, building new connections and
partnerships, and most importantly in boosting
the turnover rate. 
12
Innovation in Entrepreneurship enables you to
solve troubles and offer creative ideas that
allow you to observe things from a different
perspective. Understanding and promoting
an innovation culture and implementing innovation
for employees in the business needs a visionary
mindset. 
13
Imparting industry-centric knowledge and skills,
MIT ID Innovation is one of the top design
schools across the country that strives to
transform raw talent into an asset that can
create and design an unbeatable strategic
innovation framework.
14
Conclusion
MIT ID Innovation Programme curates knowledge and
experiences that challenge the very paradigm of
evolution. And that's why we have set out to
define the future of industries, communities,
cities and ecosystems. MIT ID Innovation offers
the best Innovation Courses and Design Thinking.
15
Wed love to hear
from you.

• MIT INSTITUTE OF DESIGNRajbaug,, Loni-Kalbhor,
  Pune-412201

• 91-7038982225 / 91 9834092369

• innovation_at_mitid.edu.in