Managing innovation at scale can be a daunting task for any organization, regardless of its scale or field. As companies prosper, they often grapple to maintain their innovative edge, leading to decline and decreased competitiveness. In this article, we will explore the key approaches and best practices for managing innovation at scale.

First, establishing a clear innovation strategy is crucial for accomplishment. This involves setting clear goals, identifying key areas of priority, and determining the resources and budget required to drive innovation. Having a clear strategy in place helps to ensure that everyone within the organization is working towards the same targets, and that innovation efforts are aligned with the company's overall business objectives.

Another, key strategy is to create a culture of innovation within the organization. This involves fostering a mindset of innovative thinking, collaboration, and continuous learning. Promoting employees to think creatively, collaborate with others, and experiment with new ideas helps to drive innovation and build a community of innovators within the company.

At Toyota, they have a well-known concept called "monozukuri" which is an approach that emphasizes the importance of human-centered design. This approach is key to their achievement and has driven their innovation strategy for decades.

It is also essential to have the right processes and procedures in place to support innovation. This includes having a clear process for evaluation. It's also important to have a system in place for tracking innovation efforts, such as metrics for measuring innovation performance.

Additionally, it's crucial to have the right skills and skills in place to drive innovation. This includes having a diverse workforce, as well as access to external resources. Supporting cross-functional teams and collaboration between departments is also key to driving innovation and leveraging the skills and expertise of different employees.

GE's Microsoft Garage, for example, is an example of innovation in action. GE Garage is an innovation hub that connects entrepreneurs, startups, and other companies to Microsoft's extensive network and resources. GE Garage has helped to drive innovation through its hub which brings together a community of innovators to build, spaghetti tower marshmallow challenge test and launch new ideas.

Furthermore, investing in research and development (R&D) is also key to driving innovation. This involves allocating significant resources to explore new technologies. Volkswagen is famous for its research in innovation.

Finally, it's essential to have a robust governance structure in place to support innovation. This includes having a clear innovation mandate, a decision-making process, and a framework for accountability.

In conclusion, managing innovation at scale requires a combination of clear strategy, cultural shift, mechanisms, talent, resources, and governance. Organizations that are able to execute on these key strategies and best practices are better equipped to drive innovation, stay ahead of the competition, and achieve long-term success.