Innovation is a critical component of an organization’s long-term sustainability and expansion. Businesses can excel in the market and enhance their processes and culture by putting innovation first. The coronavirus (COVID-19) epidemic has emphasized the importance of innovation more than ever. To position your company for long-term success, it's critical to nurture creativity across departments and at all levels. Innovation training is a highly effective method of accomplishing this.
What is Innovation Training?
A program or course that teaches learners how to understand and apply innovation theories, concepts, and practices is referred to as innovation training. Depending on the institution, the scope and substance of innovation training may vary.
The online Innovation course ‘Disruptive Strategy’, presented by Harvard Business School Professor Clayton Christensen, is an example of innovation trainings. Participants learn how to integrate assets and procedures to foster an innovative culture, identify new opportunities and risks in their sectors, and capitalize on disruption to position their companies for development.
Benefits of Innovation Training
Innovation training is critical because it can promote strategic thinking, increasing team performance, and allowing your company to achieve its full potential. Your company's capacity to compete with emerging disruptive technology may be hampered if it does not prioritize innovation. Here are some of the benefits of innovation training:
- It enables your company to complete customer jobs
One of the most significant advantages of innovation trainings is that it can assist you and your colleagues in better understanding and serving customers’ needs.
You can assist your firm in identifying the occupations that its products and services are hired to fill by participating in innovation trainings. You may improve your company's offerings to better serve users' demands through interviews and other means.
- It prepares your company to deal with disruption
Focusing on client jobs to be done has the advantage of preparing your company to profit from disruption rather than succumb to it.
You may assist your business design a plan that takes varied customer requirements and jobs into consideration, ensuring it's well-positioned to respond to new possibilities and potential threats as they arise, using lessons and strategies learned during innovation training.
- It improves employee retention and engagement
Employee engagement and dedication can both benefit from innovation training.
According to recent Microsoft research, 86 per cent of employees at innovative companies intend to continue in their positions, compared to 57 percent of employees at companies with lower levels of innovation.
Executives from Bayer, a pharmaceutical and life science firm, describe how innovation training and projects helped their company evolve in a Harvard Business Review article. The organization built a network of volunteer ambassadors and coaches as part of its innovation activities to connect and inspire employees to engage in innovation through training and seminars.
The initiative resulted in the formation of a network of ambassadors and coaches in more than 70 nations. More than 5,000 people attended innovation webinars and training events, with 80 percent of them actively involved in their innovation work even if it was beyond the boundaries of their formal roles.
This example highlights the significant influence that innovation trainings can have: it can not only inspire a commitment to innovation across your business, but it can also inform how it mobilizes and aligns its resources.
About MIT ID Innovation
One of India's most prominent institutions for innovation-related courses is the MIT ID Innovation. In India, the MIT ID Innovation Courses are the finest in terms of value. Established with the intention of nurturing a new generation of holistic innovators, you can explore innovation management courses here.