I define innovation as an “organization’s ability to adapt and evolve repeatedly and rapidly to stay one step ahead of the competition.” A culture of innovation, when done right, gives you a competitive edge because it makes you more nimble with an increased ability to sense and respond to change. A culture of innovation has […]
Although much has been written about innovation, there is little agreement on what it is or why it is necessary. Is innovation the same as creativity? Is it synonymous with product development? Or is innovation just radical change? I like to describe innovation through an old, yet relevant, joke. The joke begins with two men […]
As the economy continues to tumble, it is tempting to cut back on your investments in innovation. But now is the perfect time to increase your innovation efforts. Here are seven creative ways that innovation can help you recession-proof your business. 1. Make Your Products/Services More Accessible Successful companies are now shifting their emphasis away from increased performance […]
To say the global economic environment is undergoing the most rapid change in the history of business is to state the obvious. Unless you have been living under a rock for the past year, you know all about the market blow following the September 11 terrorist attacks, the dot-bomb phenomenon and the collapse of Enron. […]
Here’s a question for all upwardly mobile employees: Do you want to be a contender in today’s workplace? Sure you do! Problem is, you’ve got lots of competition, all vying for a few scarce jobs and promotions. And the marketplace is in such a state of flux that you don’t know from one moment to […]
For innovation to be repeatable, it needs to be treated like any other business capability (e.g., finance, HR, or sales). All capabilities are comprised of five key components: Strategy A strategy is needed to decide when, where, and how innovation will be used within the organization. It also needs to address “why” innovation is important. […]
