On our previous posting on this topic, we talked Measuring success and Change Management.
Innovation also required budget. This can be difficult to obtain. Innovation is often carried out over and above day to day work. Innovation is often demanded due to the failure or inefficiency of present methods. People are busy, and have little time to also become involved in innovation projects.
Obtaining a budget in order to secure the resources necessary to move forward with innovation is one solution – it provides an opportunity to bring in resources (internal or external) to help support the project.
Starting innovation within any organisation is like starting a small business. You need to create a business plan that basically explains how the project will return value to an organisation. This business plan should be like any other business plan – it should be measurable for cost and returns. If the project is implemented, the Business plan is the point of reference to show whether or not it has been successful.
Within Pharma, Innovation projects must consider two specific things. 1). the availability of resources to support the innovation activity adequately and 2). the positivity of these resources. Innovation requires acres of positivity within a team. It is likely that you will see lots of resistance outside of the team – you need positive resources inside your team.
Measuring Success and Failure
The last point I want to make about Innovation is the need to accept that a project will not necessarily return totally positive results. However, it MUST be valued in any results it does bring. Often, innovation projects fail to provide ANY positive returns because the project owners wish to distance themselves from a project deemed to be a failure.
With innovation, the only project that should be considered a failure, is a project that fails to produce results – positive or negative. These results are knowledge that has value.