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We, at KYMA, have been engaged, with our clients, in a number of Innovation Projects. We have seen that there are some clear ingredients leading such projects to success.

To unleash fully its potential, the innovative activity of the company has to be configured as an autonomous and self-standing process. When confined within a single functional area, the impact of innovation is somewhat restricted: the potential return is often only temporary and unlikely to be a source of competitive advantage for the company. However, when designed as a process touching every point of the value chain and capable of creating value for multiple actors, the resulting business model innovation can have a disruptive impact.

Leaders need to create and foster an innovative culture permeating the entire organization. Such a culture allows to reap many positive effects:

– Internal resources involvement in the innovative process: instead of being an obstacle and a source of resistance, a culture centred on continuous innovation can help in overcoming possible obstacles and sources of resistances, such as the “not invented here” syndrome

– Fostering of intrapreneurship initiatives: an innovative culture can encourage employees and managers to embark in ambitious projects such as developing a new business or a new product line within an existing organization

– Such a culture can also serve as a powerful Brand Enhancer, communicating externally the view of a company always progressing towards new goals and objectives in a dynamic way, a company that is simply nice to work with

– Openess to innovative ideas coming from the external environment: such a culture can help companies to build an “innovation antenna” to track down interesting projects on the market, understanding those which can be relevant for the company and how they can be adapted to the specifics of the company

At KYMA, we have learned that while innovation is a process capable of revolutionizing businesses, it needs to be carefully structured by company leaders so that its impact can be channelled towards great successes!