Do you worry about being left behind as technology changes the way you work? The right business innovation strategy gets you to market faster and grows your profits.
Innovation is a tricky thing to bring into an organization because it’s so multi-faceted. There are many types of innovation, there are many people to consider, and there are many processes to use, all happening in a complex environment that is constantly changing and evolving based on what your competitors are doing.
A lot is expected out of learning leaders and companies because things are constantly changing in the time we live in. It is important that we cultivate the process of learning in our employees so that they become an asset not just for the company now but also for the businesses that they join in years to come.
Every company has a set of policies in place to make the business function smoothly. It is important that just like those policies the company also initiates a policy where innovation is welcomed. Google is known for its 20% time to work on any project an employee desires. And 3M has had its own 15% time for years, which led to the Post-It note, among other inventions.
Your company can also implement such policies and get the best out of your employees.
Communication is the biggest medium for any idea or innovation to take place. We should not just wait for the final announcements to happen, which could be fruitful and sometimes otherwise too. The real learning lies in discussing during the development phase as that’s where the risk-taking happens.
Leaders should have a set time in meetings for updates on innovation, and to share what they see happening across the organization.
You may succeed at the task you are doing, but that doesn’t take away the fact that you have a chance of failing too. In case of failure don’t hesitate to accept it and learn from it rather than moving away from it and not ready to take the blame that comes through it.
Remember, we stated ‘Learning’ in the article and that comes from both success and failure equally.