Executives are to be given the key to unlock innovation potential within their organisations at the upcoming ‘Selecting the “Right” Innovative Ideas’ event organised by Cambridge Judge Business School Executive Education, part of the University of Cambridge.
The event is on Thursday 27 March at 18:00-20:30 (GMT) and has already proved popular, with the School receiving an influx of registrations. Those interested can attend either in person or via the global live webstreaming.
Professor Stelios Kavadias, event host, Director of Research and Academic Programme Director of the ‘Making Your Organisation Innovative’ programme, part of the School’s Executive Education portfolio, says that attendees at this free Breakthrough Series event will gain a proactive experience which will help them start making a real difference within their organisations.
The session will be highly interactive with participants given role play exercises based on different scenarios, as well as being given examples of well-established managerial frameworks that have been applied across various industries. Stelios will also outline the key steps that ensure an effective selection process of innovative ideas.
A crucial theme of the event is to break down the barrier of bias within a business. Stelios explains: “Selecting the right ideas means strategy meeting action. Putting money behind specific products, services, or projects brings together a set of completely different factors, such as: budgets, internal capabilities, risk, and dynamism of the market. Any kind of financial calculation gives a short-term perspective so many people tend to hide behind the objectivity of numbers, for example an expected budget. However, it is important to remember that this is a decision that we make, which creates expectations and therefore bias.
“Furthermore people come into senior management meetings armed with their own objectives which are often conflicting and create a barrier for innovation to succeed.
The theory of selection in terms of innovation is a core part of our programme. It is all a question of sourcing more ideas and how you go about this. The more ideas and creativity, the more chance that some will prove successful. Such a selection process bridges the organisational strategic vision with the underlying execution capabilities and achieves the best portfolio of innovation projects.
To conclude the event, participants will be tasked with developing a personal action plan based on their engagement at the event, encouraging them to gain further expertise. The plan will be divided into short-term and long-term challenges for their own organisations. This is an exercise that is reflective of the ‘Making Your Organisation Innovative’ programme.
Stelios adds: “Innovation is currently all around us in the news and media. We know we need it, but achieving it is another complex question. We are very much looking forward to hosting this event which will give business executives a different perspective on the topic and aid them in making the next steps to make the right decisions for their business.”