Economic growth in developing countries requires application of appropriate Technology & Effective Management practices it is not either Or. But both. Management practices could be in any area, be it HR, Operations, Marketing and even in Education as a service or even agriculture for that matter to increase effectiveness and efficiencies. Sustainable could be from the point of environment to the long term effectiveness and efficiencies. It includes the best value for the money and the easiest way of doing things. It gives an insight into the relationship between the environment and the best use of technology, tools and making this world easily manageable. In organizations it is called the pioneering, innovative mode (PI) – The primary generators are more strong internal variables than the environmental variables. The environment may necessitate such PIs for firms or organizations to differentiate in the market place.
Opportunistic diversification, creative staff, commitment and long term goals, make these innovative management practices to be a continuous improvement process before it can be called as sustainable. Some of the innovative practices in health care management is a very good example in recent times along with products, services and disaster management process of how to reduce infections in the long run through various management practices including social distancing, usage of technology, remote operations, touch free devices etc. How can we consciously ensue diversity of thought and experience in the organization which will make a difference and impact in a greater way.
If you talk about Education the innovative management practices in academics, pedagogy, technology, newer medium of mode of instructions, newer tools to the user to make learning and absorption easy. Education as an industry has to change not only the message, but the medium, including Technology, Good creative content. This also an example of Innovation in Management practice. The 7 Ps of Innovation: Planning, Pipeline, Process, People, Platform, Product & Performance
The Learning Model for Technology Innovation Management: Contextual, Work Based Learning, Integrated Learning, problem based learning, co-operative learning, Experiential learning and Blended Learning methods-Driven by various facets-Structural, contextual, Psychological, cultural and outer circle of Multimedia, Regulatory framework, the Internet and Global Network.
Innovation Management Practices include: Knowledge Management, Strategic Human Research Practices and Innovation Performance which must result in successful business outcomes or Educational or Learning outcomes in the case of Education. It starts from Idea Funnel, Innovation, Development and continuous process (This is the foundation or an Innovation Cycle Management), Then Comes Innovation Organization & Culture( The Rider) and Finally the innovation as a product and service. If this product works effectively for longer gestation, it can improve and sustain as a practice. Quick adaptability is not only the new age mantra, but also a competitive advantage in an era of risk and instability.
These innovative practices also focus on greater transparency have combined to upend the business situations that give a deep sense of unease to leadership. But that is the name of the game and leadership must be ready to meet such challenges and reflect agility for the same. Innovative management practices primarily focus on the ability to read and act on signals of change. Ability to experiment rapidly and at frequent intervals much beyond products and services with business models and processes, and strategies and finally the capability to motivate employees and partners. The power of good innovation is some things are not easy to spot. Uncovering the not-so-obvious characteristics that could lead to quick quits is the real challenge in innovative management practices.
Sustainability in any management practice through innovation must address A fair world, socially progressive world, environmentally responsible world, a livable world, a viable world, economically growth oriented. A measure of excellence is to be ranked on happiness apart from economic growth mentioned herein. Ranking organizations and institutions based on innovative practices provide us the relatively to make decisions, set performance targets and decide where we stand. As a leader of leading business schools in India, I have witnessed the fact students do not go to the most popular schools if it does not suit your needs. This is nothing but a tip in the iceberg on the innovations even management education must make to play to the student’s strengths, an environment the student community wants. Most of the decisions are based on the context that works for the student or any employee of an organization. All the innovative practices must address the end user as it extends beyond products and services. On the innovation side, organizations and institutions must boost investment in learning and development, with the longevity and continuity in sight. Learning and development is emerging as the critical piece of the jigsaw in Innovation practices.
The major component in innovative practices include alignment with business, diverse approaches, agility to change in midway, addressing diverse population last but not the least is the technology and social media as enablers for disseminating innovative practices to ensure there is a buy-in across segments and influencers. The Learning Management Systems (LMS) today are morphing from a outsourced courses to a repository for best practices.
The innovative practices stress the need for a platform to exchange creativity, ideas, views, through proper integration of social media tools like LinkedIn, FB, Twitter, Instagram and beyond. As a management educational practitioner, I am forced to think to conduct even a three credit course through WhatsApp and link LMS with Social Media including YouTube and other forms. The future model of innovative management practices will create a pipeline of talent, focus on critical competencies, use module relevant to context and culture. When I specifically talk about innovative practices in L&D, the agenda should never be insulated from the firm’s business needs or goals but evolve from it. Think, talk and do what you love to do. The Passion, trigger and inspiration will drive innovative thoughts and practices to the path of success for sure.