In
today’s intensely competitive global economy, innovation has never been more
important for business success. Most experts acknowledge that innovation can be
the shot in the arm companies need. Yet, how do you create a company that
unleashes and capitalizes on innovation?
Innovation
increases the likelihood of a business succeeding, however most people
don't know where to start. People often think of innovating as just invention.
Innovation
does not necessary require a large budget or investment in Research and
Development (R&D). It's also about new ideas and responding to new trends
and market conditions, or making improvements to products and services that
already exist.
In many
cases, innovation may be driven by the need to solve customer problems or to
pursue new opportunities. How innovation creates workable solutions for
problems that matter depends on you, but here are a few suggestions for making
your business more innovative:
Step out
of your comfort zone
To lead
to successful innovation, you’ll have to embrace the unknown , you have to
taste the failure and overcome the fear of criticism . Business leaders who
operate both personal and professional life , they use their own trick to make
it stable , but before you become successful you should know how to get out
from comfort zones and take the risk.
How do
you start stepping out of your comfort zone?
First,
take small steps away from what’s familiar and into areas that are not so
recognizable. Take new risk to explore something new
Connecting with customers for ideas
·
While
there are no sure-fire way to guarantee success in creating great ideas, one of
the best ways is to listen to your customers.
·
Connecting
and listening to your customers can assist in emphasising and generating
ideas on how both product and service delivery can be improved.
Connecting with customers may include:-
·
conducting
a market scan to better understand the environment in which your business
is operating in, including an analysis of your competitors
·
understanding
the importance of marketing and branding for your
business
·
offering
your customers channels in which to easily provide you feedback on
your products and services
·
conducting
market research to
better understand how your customers use your products and services.
·
Creating
an online strategy or one that extends into social media may be a way to collect valuable ideas
and connect with your customers. A focus on both product and service delivery
is vital as they are equally important in innovation.
·
Be open
to the feedback, and take decisive action based on what you’ve learned.
Condone—and,
oftentimes, reward—failure
You do
not start the day intent on steering your company toward failure. Yet,
innovation’s occupational hazard is characterized by failure, which is why
creating and supporting a culture of successful innovation requires courage. On
top of that, patience is needed because your business may not see immediate
results. Once courage and patience are in place, you must condone – and
sometimes reward – failure. All three foundational elements are part of your
company’s culture of successful innovation.
Consider
your own company’s efforts when it comes to creating and supporting a culture
of successful innovation. If your company is small and nimble, a lack of
resources might hold you back from creating a culture of successful
innovation. Gainesville-based Fracture has limited resources, yet its
leadership and employees find creative ways to infuse innovation into the
company’s product line and business processes. Fracture owes its continued
growth and success to creating and supporting a culture of successful innovation.
Conversely,
your company might be big and bureaucratic, with plenty of available resources.
Change occurs slowly at this company, and often with limited success, because
adapting a culture of innovation can be unwieldy and untenable. Yet, big and bureaucratic
companies can, and do, foster a culture of successful innovation. Verizon
placed big bets on Google’s Android for smartphones and on fiber optics for
landlines. The company continues to seek new ways for wireless networks
to run everything, including cars and refrigerators. That’s because Verizon CEO
Lowell McAdam sees small “pots of gold” – from product innovations to process
innovations – throughout the company.
Fortune
follows the brave, at least in theory. What happens in real life with innovation
depends on the courage and patience of business leaders. That’s because
successful innovation often results after small – and sometimes large –
setbacks occur. Determined innovators persist in spite of failures; yet,
persistence often leads to winning outcomes for companies willing to exercise
courage and patience. Failure is not the desired outcome in business, yet
successful innovation calls for lots of small, timely missteps.
Balance
creativity & imagination with operating structure & business process
Before
achieving this balance, companies must take an important step on the path to
achieving successful innovation. That critical step is to marry solvable
problems with workable solutions. It is in our nature to be creative, and our
imagination is poised to run wild – if only we let it – to arrive at possible
solutions. Some of us (engineers, take a bow) are adept at solving problems
with pragmatic solutions, which is great because workable solutions springboard
successful innovation. Given that most of us are creatures of habit who crave
structure, it is no secret that processes rule the day in the land of business.
The innovation process, then, balances what is natural for us to do with how we
prefer to operate.
This is
exactly the case with innovative companies like Apple and IDEO. Apple’s genius
lies in the company’s ability to arrive swiftly and correctly at the crux of a
pressing problem. Then, Apple being Apple, it refuses to settle for half-baked
solutions; its employees find – in the words of the late Steve Jobs –
“beautiful, elegant solutions that work.”
The
design firm IDEO’s ingenuity is on par with Apple. IDEO conducts brainstorming
sessions in which it requires participants to produce scores of ideas in mere
minutes. This impossible time limit and audacious quota forces participants to
submit top-of-mind thoughts and ideas, including “way-out-there” ideas. IDEO
then subjects the brainstorming’s outcomes to detailed scrutiny and exhaustive
evaluation.
The key
to successful innovation is to “toggle” back and forth between problems
identified and solutions proposed. Doing so allows the innovation process to
move forward in producing solid outcomes. Along the way, it is important to
commit to the testing of product prototypes; forget about perfection and
beauty, just build something ugly, but functional. Use IDEO’s three “R’s” to
guide your prototyping efforts: rough; rapid; and right. Or, in today’s
parlance: “wash; rinse; and repeat.”
Balancing
creativity and imagination with operating structure and business processes can
be achieved. An innovation culture and solid operating processes can happily
coexist within your company. It just takes stepping outside of your comfort
zone to get there. Doing so is proof positive of the valuable outcomes that can
occur when you focus on making your business more innovative.
1. Individual innovation
The first kind of
innovative culture is one built around the continual innovation of its
individual stakeholders. This is perhaps what you or I think of when we
envision dreaming up a new invention or process that will turn an industry on
its ear and make us a billion dollars. It's also the easiest type of innovation
culture to build in a larger organization.
"It's exactly as
it sounds--you build a corporate culture where anyone can suggest an idea and
start a project," Blank said. "Some companies use a suggestion box.
Others like Google give employees 20 percent of their time to work on their own
projects."
It's a good
environment for innovation, Blank said, but not a great one.
2. Process improvement
This kind of
innovative culture feels a little more corporate, and a little more familiar.
Companies introduce new versions of products and services, tweaking each time
to make them better or more lucrative.
"Car companies
introduce new models each year, running shoes grow ever lighter and more
flexible, Coca-Cola offers a new version of Coke. Smart companies are always
looking to make their current products better--and there are many ways to do
this," Blank said. "These innovations do not require change in a
company's existing business model. This is what companies typically do to
secure and defend their core business."
Like individual
innovation, however, this is what good companies do--not great ones.
3. Continuous innovation
Now we're getting to
the harder cultures to create. A culture of continuous innovation requires a
company to create new elements in its business model.
"For example,
Coke added snack foods, which could be distributed through its existing distribution
channels," Blank suggested, and, "The Amazon Kindle played on
Amazon's strengths as a distributor of content but required developing
expertise in electronics and manufacturing."
If you can build a
culture of continuous innovation, Blank suggested, you've reached the ranks of
the great companies. But there's one level higher.
4. Disruptive innovation
Disruptive innovation
is the hardest kind of culture to build within an organization, precisely
because disruptive innovation can upset the organization's advantages. That's
why it's usually the purview of startups, who have nothing to lose as a result
of progress, and everything to gain.
"It's the
automobile in the 1910s, radio in the 1920s, television in the 1950s, the
integrated circuit in the 1960s, the fax machine in the 1970s, personal
computers in the 1980s, the Internet in the 1990s, and the Smartphone, human
genome sequencing, and even fracking in this decade," according to Blank.
The most
extraordinarily innovative organizations, according to Blank, are those that
shepherd disruptive innovations, and do it over and over and over again.
ONE IDEA CAN CHANGE YOUR WHOLE LIFE
If Steve Jobs ever thought that he is very poor and he has no
power to bring any change in his life then he couldn’t be CEO of APPLE , LOVE
THIS QUOTE “BORN
FOOL AND POOR IS NT YOUR MISTAKE BUT DIE AS A FOOL AND POOR IS YOUR MISTAKE”
Which is most branded company presently in World . If he can’t even he has
neither money nor qualification still he could then why you can’t.
MY PAPA ALWAYS SAY ME ONE THING – “NEVER LET OTHERS TO DOWN YOU , MAKE YOUR OWN
IDENTITY . YOUR IDENTITY SHOULD NOT YOUR FAMILY BACKGROUND OR HOW MUCH MONEY
YOUR PARENTS GET OR PROFIT YOU HAVE OR WHO IS YOUR BOY FRIEND OR HUSBAND . YOUR
IDENTITY SHOULD BE “WHO ARE YOU AND WHAT YOU ARE DOING BUT IT DOESN'T MEAN YOU'LL CHOOSE LESS FOR YOU , CHOSE THE BEST ONE FOR YOU AND MOVE AS PER THAT. BE PROUD ON THAT .” That’s why my family background is Land lord family
background ,still my papa make his own identity. If needed he can drop out his
college life and start his own business like many business man in India , many
businessman are not highly educated but have better knowledge than a commerce
student. So proud to be yourself and what you are doing
, so I am proud what I gonna do and what I AM. I DESERVE BEST .
I have faith that “IF I’LL BE WORK HARD I CAN BE
LIKE STEVE JOBS SO WHY I THINK LESS ABOUT ME .” I’ll never give up , I may
be a woman but strong as a man . I can do anything and no one can protect me to
do that. I born to win and I know what I sacrifice for that.
I’LL WIN ONE DAY AND I AM NOT WEAK , I AM CAPABLE.
Articles defines me and my life-
1) My
life is like open diary-http://poemstoryshayari.blogspot.in/2013/06/my-hostel-life-from-12th-class-to-whole_4604.html
2) Time
has all answer - http://poemstoryshayari.blogspot.in/2014/12/time-has-all-answers.html
3) Why I
write blog - http://poemstoryshayari.blogspot.in/2014/04/why-i-write-blog.html
4)
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