Corporate Innovation Policy
Policy Owner:
Acting Head of Innovation Section
|
Endorsed by:
Director of Strategic Affairs
|
Approved by:
CEO
|
Ref. Code:
INMS-600-01-2022-1.1
|
Version No.: 1.1
Original Version Date: 6 Oct. 2020
Last Review Date: 16 Sep. 2022
|
Review Frequency:
yearly
|
| Preparation, Review, Endorsement, and Final Approval
| Preparation |
| Name |
Job Title |
Signature |
| Dr. Khalid Al Moaina |
Director |
Electronically Approved |
| Bodour Wahidi |
Assistant Director |
Electronically Approved |
| Review |
| Name |
Job Title |
Signature |
| Dr. Loai Mahmoud Ibrahim |
Acting Head of Corporate Innovation Section
Quality and Corporate Excellence Consultant |
Electronically Approved |
| Meera Al Dhaheri |
Head of Quality Section |
Electronically Approved |
| Endorsement |
| Name |
Job Title |
Signature |
| Hadef Al Shamsi |
Director of Strategic Affairs Department |
Electronically Approved |
| Final Approval |
| Name |
Job Title |
Signature |
| Alia Al Mazrouei |
CEO |
Electronically Approved |
1 | General Policy of the Corporate Innovation Management System in the Fund
The leadership team has adopted a general policy for managing the corporate innovation system. The Fund's management is always keen to keep pace with government trends in the field of creativity and innovation, believing that it is the basis for continuous development to achieve the Fund's vision and objectives in a way that supports the Abu Dhabi government's plans and complies with the requirements of the Innovation Management Standard ISO 56002:2019, and the requirements of the Government Corporate Excellence System. Therefore, the leadership team commits to the following to meet the requirements of the corporate innovation policy:
- Providing a work environment that stimulates creativity and innovation.
- Providing the necessary resources, systems, and tools for creativity and innovation to achieve the objectives of the innovation strategy.
- Continuous awareness of the concepts of the corporate innovation system among the Fund's employees.
- Qualifying, encouraging, and motivating creative individuals and nurturing talented ones.
- Granting the necessary opportunities and capabilities to experiment with and apply innovative ideas according to the principles of the corporate innovation management system.
- Optimal application of innovation processes according to the best local and international practices to ensure the achievement and sustainability of innovation principles.
- Building a network of effective partnerships with universities, scientific research centers, and stakeholders in the public and private sectors.
- Protecting the intellectual property of creative ideas.
- Supporting and implementing innovative ideas and continuously striving to transform them into innovative projects (as needed).
- Full commitment to the standards and requirements of the International Standard ISO 56002:2019 and its continuous improvement.
The leadership team also commits to disseminating the innovation system policy both internally (corporate) and externally (related to entrepreneurship) to all employees, including new employees, trainees, customers, suppliers, and the community. It will also be published to various concerned parties through various available means, and it will be reviewed periodically to ensure its suitability.
CEO
2 | Leadership Team Charter to Support Corporate Innovation
The following is the charter of the leadership team (represented by His Excellency the CEO of the Fund), which contains a commitment to support and enhance the corporate innovation system internally and externally:
Leadership Charter for the Application of Corporate Innovation and Commitment to the Policy
The work of the leadership team at the Khalifa Fund for Enterprise Development is based on the ambitious, clear vision and the exceptional, solid foundations of our wise leadership in the Emirate of Abu Dhabi.
The team adopts scientific methodologies and best practices in institutional leadership to achieve its vision and perform its mission optimally, with full commitment to its corporate values, so that the Fund becomes an effective contributor to driving development and shaping a bright future by adopting and activating an integrated system for corporate innovation management within the Khalifa Fund for Enterprise Development.
Accordingly, we confidently seek to achieve outstanding performance, reach an exemplary level, and achieve the highest levels of satisfaction among the various segments of the Fund's partners through:
- Striving to achieve a clear and ambitious vision that integrates with future government plans and strategies through a constructive mission and corporate values, and integrated plans with clear results that serve the corporate innovation management system.
- Actively participating in the planning and continuous development of work systems with a mindset based on creativity, innovation, and openness to the latest scientific and technical developments.
- Dealing and collaborating with all partners internally and externally, and consolidating a culture of communication and ensuring the effectiveness of smooth communication channels.
- Disseminating and promoting a corporate culture that focuses on the concepts of creativity, excellence, leadership, change management, and teamwork, and building a supportive and stimulating environment for it.
- Working to enhance the capabilities, talents, and skills of employees, supporting them in self-development, and preparing a generation of young leaders and future leaders.
- Optimal investment in corporate partnership to achieve common goals and making partnership a solid foundation in the Fund's work.
- Being present at all work sites, working directly with everyone, and attending events that support corporate innovation.
- Adopting the latest standards and concepts of corporate governance, good management, and best practices in decision-making, and paying attention to avoiding bureaucracy.
- Enhancing the Fund's role as a responsible institution in the community and encouraging participation in community initiatives and activities.
CEO
The Khalifa Fund for Enterprise Development is keen to link the innovation policy with the Fund's strategic objectives and institutional context. Accordingly, the Khalifa Fund's strategy has been amended to reflect its keenness to integrate innovation into the Fund's internal processes and to be part of its corporate culture.
3 | Human Resources Policy for Supporting Corporate Innovation Management
The leadership team has adopted the general innovation policy, as well as a special policy to support corporate innovation at the individual level. The management is always keen to keep pace with government trends in the field of creativity and innovation, believing it is the basis for continuous development to achieve the Fund's vision and objectives in a way that supports Abu Dhabi's plan in the field of innovation. Therefore, the leadership team commits to the following:
- Providing a work environment that stimulates creativity, innovation, and continuous awareness.
- Providing the necessary resources, systems, and tools for creativity and innovation.
- Qualifying, encouraging, and motivating creative individuals and nurturing talented ones.
- Granting the necessary opportunities and capabilities to experiment with and apply creative ideas.
- Optimal application of creativity and innovation processes according to the best local and international practices.
- Building a network of effective partnerships with universities, scientific research centers, and stakeholders in the public and private sectors.
- Encouraging initiative, innovation, open communication, and meaningful discussion, and urging employees to submit their suggestions for work development and improving the work environment in an atmosphere of mutual trust and common understanding.
- Protecting the intellectual property of applied creative ideas.
The leadership team also commits to disseminating the innovation system policy to all employees, including new employees, people of determination, outsourced employees, customers, suppliers, and the community. It will also be published to various concerned parties through various available means, and it will be reviewed periodically to ensure its suitability.
Building Capabilities and Competencies in Corporate Innovation
The Khalifa Fund is keen to develop and build capabilities related to the system. It identifies the technical and behavioral competencies required within the corporate innovation system for all employees in general and for the Innovation Section employees in particular. It also sets clear standards and requirements for evaluating corporate innovation for all employees (within the annual performance evaluation) to ensure raising the levels of corporate maturity under the corporate innovation system.
The Human Capital Section, in coordination with the Innovation Section, provides training courses on innovation management and the development of creative skills for innovation. The training workshops aim to build institutional competencies and capabilities for innovation management in the Fund, and to motivate employees to develop their professional capabilities and skills to provide creative ideas to improve institutional work and to continuously raise the quality levels of idea submission, which increases competitiveness.
The academic qualifications and training courses required for the Innovation Section employees have also been identified, such as:
- Bachelor's / Master's in Business Administration.
- Or Bachelor's / Master's in Corporate Innovation Management.
Training Courses and Workshops (Example):
- Diploma in Innovation Management
- Course on (GIMI) requirements.
- Internal Auditor / Implementer of Corporate Innovation according to the requirements of ISO 56002:2019.
- Attending at least one workshop annually to participate in corporate innovation fields held internally.
Amendments to the Corporate Innovation Policy
| Review No. |
Section No. |
Subsection No. |
Paragraph No. |
Date |
Management Representative Approval |
| 1.0 |
New |
New |
New |
6 October 2020 |
Electronic |
| 1.1 |
Update on all clauses |
16 September 2022 |
Electronic |