Considered by many to be a crucible for mixing the exotics of ideas with the rationality of commercialisation.
Is innovation the by-product of strategic initiatives?
Are innovators the creative gurus of the 21st century knowledge economy?
Businesses in the current age are faced with different challenges to their forbearer. Past success does not breed future capabilities. Old markets are being displaced by new geographical and technological markets. Human capital is forced to confront these changes in real-time, technology redundancy is the greatest threat to western civilisation since the industrial revolution.
Too often a business will become absorbed in a moment of success without realising that we do not live in a static universe – there is always change. Therefore to be looking, learning, adapting and enhancing your commercial offering is a way to ensure that you remain relevant. Furthermore it allows a business time to adapt their business model to accommodate change and what comes with that is time for the workforce to adapt their working styles to move with these changes.
However you choose to look for inspiration; from iterative improvements, market research, user feedback or divergent thinking – there is one common thread amongst all of these – People! The internal and external knowhow shared amongst a group of people is the greatest resource to tap into. Indeed to not spend the time listening and learning , as a means of innovating, will undoubtedly leave you with great ideas that no one wants. Remaining insular and secretive may work for a while (see Apple Corps for details) but sooner or later the cannibalization of ideas and patterns will be exhausted. In a moment a business can be overtaken and replaced by another (see Samsung for details)
So dont wait to create – just crack on an innovate!