Innovation: The Life Blood Of Your Business

Innovation: The Life Blood Of Your Business If you’re running or managing a business and want it to be around for a long time, you need to spend a good part of your time innovating. That’s because, in a fast-moving world, where people expect things to get better and better, and cheaper and cheaper, innovation is your route to getting ahead of your competition. Here are 7 ways to put new life blood into your organization through innovation. 1. Create An Innovative Climate. Goran Ekvall of Lund University in Sweden has defined three conditions needed for a climate of innovation. They are: trust, dynamism, and humour. One of Ekvall’s case studies was a Swedish newspaper where the team working on …

Innovation Is A State Of Mind

Innovation Is A State Of Mind You probably know the myth of innovation as a sudden flash of insight that comes from nowhere. We read about that “aha” moment, or that light bulb turning on in the mind of some inventor or innovator, and this is true to an extent. Einstein really did get flashes of insight while shaving in the morning. However, he was of course working on the particular problems he had insight into, and he didn’t suddenly have ideas for new kitchen gadgets or movie plots. Einsteins innovations, in other words, no matter how “sudden” the original ideas were, came from past and present mental work. It is like a singer who works at his craft for …

Customer Intimacy and Empathy are Keys to Innovation

Customer Intimacy and Empathy are Keys to Innovation “Above all, we know that an entrepreneurial strategy has more chance of success the more it starts with the users — their utilities, their values, their realities … the test of an innovation is always what it does for the user…it is by no means hunch or gamble. But it is also not precisely science. Rather, it is judgment.” — Peter Drucker, Innovation and Entrepreneurship Just because a company is spending money on research (such as markets, customers, or new technologies) and development doesn’t mean they will get innovation. Innovation, as with advertising, training, or many other organization investments, depends on the quality of the investment as much as the quantity of …