Innovation is a key to survival and 60% of today’s European companies will not live to see its 10th year anniversary according to reLean, a company on a journey to help clients and the world achieve true Lean excellence. So, what's true innovation and how to do it fast?
True innovation isn’t just about coming up with big ideas, but about coming up with new ideas quickly. But where to start in churning ideas out? What are the factors in ensuring regular and fast production of innovative ideas? Here are four innovation drivers:
Change always encounters resistance and a lot of companies keep driving change programs short-term, basically re-solving the same problem over and over leading to a state of constant fire-fighting. The question is why aren’t they looking at long-term change, breaking the mold, where people are trained to seek change rather than avoid it, and innovation is embedded in the processes? With a long-term approach, the goal is to make change a part of the norm and no longer a deviation, and so ushers in a culture of innovation. Sure, companies can continue to “fire fight” or they can instead change the game and enjoy the benefits of a smooth and seamless on boarding process.
As start-ups continue to produce industry disrupting innovations, large organizations are side-lined to observe and pay a high price to later buy these innovations. So, what do start-ups and entrants have that big companies don’t in driving innovation? Here are three critical elements:
Defining and re-energizing the innovation process is heavily connected with the talent development process and the capability building process, fueled by setting and heading towards an inspirational direction for the future. The companies doing this will see growth, the ones that don’t will continue to firefight for survival.
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