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Competencies for Innovation

Competencies for Innovation

Competencies for innovation refer to the skills, knowledge, capabilities, and attributes needed for an organization to carry out innovation successfully. By having a deep understanding of these aspects, companies can develop innovative solutions to their customer's problems - which translate into valuable products and services.

For example, Apple designing its own operating system, hardware, software, and services is an innovation competency.

Types of competencies

Core competencies for innovation include problem-solving techniques, project management approaches, customer insights, design thinking principles, financial analysis tools, resource management, and organizational development processes.

However, technical competencies aren't the only consideration - soft skills are also an important part of fostering a culture of innovation, where everyone feels comfortable expressing their thoughts freely.

To cultivate this kind of environment, a team needs individuals with effective communication abilities, empathy towards customers and colleagues, and resilience to deal with failure or setbacks during the experimentation process. People involved in innovation projects also need to be open-minded about potential opportunities while still questioning existing norms - this helps teams focus on delivering meaningful outcomes instead of sticking to routines without questioning them. Finally, having a diverse mix of people and perspectives in a team often encourages generating innovative ideas and creative collaboration.

It's also important to differentiate between threshold and core competencies. A threshold competency is a baseline competency a company needs to compete in its industry, such as the ability to transform a technology patent into a product. Meanwhile, a core competency is a defining process by which a company distinguishes itself from the competition. An example of a core competency is the ability of NASA to integrate open innovation into its operational model.

Related Keywords: Problem Solving Techniques, Project Management, Design Thinking, Organizational Development, Soft Skills

What is Competencies for Innovation?

What are Competencies for Innovation? The ways in which a company utilizes its resources.