Innovation

The definition of innovation is utilizing new methods and ideas to transform business processes. Companies strive for their employees as well as products and services to be innovative to set themselves apart from their competition.

Innovation tends to be left behind while companies keeps focus on maintaining their costs to a minimum instead of thinking ahead for long-term goals and growth. Structure and traditional methods of conducting business may be comfortable for companies to continue doing; however, in order to achieve advancements, new ways of thinking must be adopted moving forward despite the unknown.

One way for a company to create more innovation is to focus less on the efficiency of their processes and be less afraid of failure. This fear of failure prevents experimentation from occurring and overall hinders the company from cultivating unique ideas.

Alternative

         Uncertainty and change must be acceptable since trial. Moreover, error is the only way to figure out what will work or not work. The concept of perfection can not exist in the mind of employees. It is because the experimentation process will not thrive by expecting that everything will immediately work. Another way to introduce innovation in a company is to start with small things. Rather than strive for the biggest possible change.

Creating more value for the customer through products and services is the main goal. So even miniscule innovations can make all the difference. Other companies can inspire you for Ideas as well. As long as there is enough difference to set competing brands apart from each other. Lastly, innovation should not be a separate entity within a company. It should be encouraged throughout all departments and processes. When customers become involved and aware of new experimentation methods, they will appreciate the uniqueness. It enables companies to stand out from one another.

https://www.score.org/resource/4-ways-build-innovation-your-business

Author: Daniel Kehrer

Date: July 18, 2019

By Kelly Mallari

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