Your approach to innovation will largely be dictated by available finances and 'work time' provided by those that own and run the company. And on that note, leadership quality is essential for innovation behaviours to succeed. A business cannot innovate without the wholesale backing of leadersof the business.
Depending on circumstances, you could focus in some (or more) of the following areas:
Innovation and importantly, innovation behaviours, must become part of the core business message between all members of the company.
Innovation and innovation behaviours should be included in the strategic vision that your company has for the future, helping it to continue to provide excellent products/services to clients, to win more clients, and to prepare, overcome, and embrace transformations within the industries that you operate in.
Innovation should be part of, not additional, or separate to, the present and future plans of the business.
There are a few types of innovation to be considered, namely (but not including):
Alongside the approach to innovation, there are also levels of innovation which can greatly differ in their ability to help the company to success.
With this knowledge, it is easy to both identify your existing level of innovation potency and also the approach that you take. But more importantly, this information also allows you to decide what type of innovation you would like your company to perform.
Are you tackling innovation with a level 3, ideas-based strategy, or should you approach innovation with an analysis-based level 4 approach?
Whatever your choice, identification of your innovation strategy is now possible and should be created for all in the business to be aware of.