5 things that could bring out innovation in your company

Business | 0 comments

May 28, 2020
In an ultra-competitive marketplace, how do you get ahead? how do you put your company in the driving seat when it comes to getting that all-important advantage? 
Here at Global Innovation Magazine, we have interviewed some of the world’s leading minds, working in this field and here are 3 things that could help you with your creativity. 
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You don’t need a title to be innovative, but you do need the time to be creative. 

 
Give people space and time to focus on ideas. We have all come across people with a title, that connects to innovation, but that doesn’t equate to innovation actually happening successfully at an organisation. What may help is by mobilising all of your workplaces, by giving all of your team from the bottom to the top a percentage of their time that they can either bring new ideas to the forefront or if they don’t have the development skills, time to share them with other colleagues and managers, who can. Start out with something manageable and realistic like 5% and if it brings in the ideas you can build from there. 

 

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You do need a definition of innovation and a mission statement.

It is no good giving your team the freedom to come up with new ideas for innovation if we are not clear on what that means in the context of your business, so define it and publicise it in the form a mission statement. Once you know what you’re looking for you can measure and define whether or not it has been a success. Does innovation have to create a market edge? Does it need to be unique or can it be based on previous work/products? 
Once you have come up with your definition publicise it and get your team behind it either in the form of a mission statement or a value statement, which in turn has the potential to impact culture. 

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Measure it 

 
You have all your ducks in a row but how do you know if it has worked, or is working? Collecting data in this area is essential. It is important so that you can keep it at the top of your agenda, as without proof who is going to back it moving forward? 
A good, basic data collection programme would look for:
Costs – how much have these endeavours cost in time and money?
How many ideas have been generated? 
What percentage of these ideas have come to something? you will need to define what that ‘something’ is. Has something gone to market? has something sold? etc
Are your people embracing innovation and how can they demonstrate their time has been spent working on it? 
If you try doing these 3 things there is a good chance that change will occur, change that has a great potential to bring out the innovation in your business. 

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