deepstash

Beta

Deepstash brings you key ideas from the most inspiring articles like this one:

Read more efficiently

Save what inspires you

Remember anything

9 Ways Your Company Can Encourage Innovation

https://www.entrepreneur.com/article/318584

entrepreneur.com

9 Ways Your Company Can Encourage Innovation
5 min read Opinions expressed by Entrepreneur contributors are their own. Today, innovation is all around us. From exciting new technologies to new startup business models, the very idea of innovation is taking off just as fast as the businesses that embrace it. In the U.S.

10

Key Ideas

Save all ideas

Innovation in business

Innovation in business

The idea of innovation is taking off just as fast as the businesses that embrace it.

But, not all companies are prepared to push innovation within their organizations. Changing workplace systems and procedures requires resilience and flexibility, and it’s an unfortunate reality that many people are afraid of or continue to resist change.

159 SAVES

278 READS

VIEW

Intrapreneurship

An intrapreneur can be defined as someone who thinks like an entrepreneur but brings their ideas to the company where they are employed instead of launching their own business. 

Instate a "no idea is a bad idea" policy, gather the support your employees need to try out their ideas and let them pitch decision-makers at your company.

162 SAVES

234 READS

McKnight’s 15-percent-time rule

This allows employees to spend 15 % of their paid work time daydreaming, doodling or experimenting with ideas that don’t necessarily have to do with their work at the company.

This kind of daydreaming is the genesis of invention and fosters passion for one’s work.

170 SAVES

246 READS

Reward experimentation - even failure

Beyond just giving your employees time to experiment, you should also reward innovative habits. 

Nothing kills creativity faster than the fear of failure, so celebrate the success as well as the failures.

147 SAVES

210 READS

Encourage research

Encourage your team to do their own research as well. 

Let your employees’ personal interests and passions do the leading as they look into new technologies, reading articles and writing reports for your company.

137 SAVES

173 READS

Employee forums

Whether it’s a weekly all-staff meeting or a company bulletin, foster a space where employees can meet across teams to discuss and present their research, experimentation or intrapreneurial ideas from their 15 % time.

131 SAVES

177 READS

Shake things up

Get your employees to think outside the box by assigning them new and exciting projects outside the scope of their daily activities.

128 SAVES

170 READS

Don’t put yourself in a box

Don’t put yourself in a box

Successfully innovative companies know that they are more than just their products and services.

Instead of only defining your company by what it sells, identify your assets and strategic skills.

137 SAVES

181 READS

Utilize vacation time

Studies show that certain activities that foster a truly unplugged environment, such as hiking in nature, can actually boost creativity by up to 50 %.

Encourage your employees to use all of their vacation time despite work pressures so that they come back to the office refreshed and full of new ideas.

130 SAVES

170 READS

Be a progressive leader

Innovation starts at the top -- leaders should be role models for workplace passion, positive outlook, clear direction and vision, and of course, embracing change.

Start small, with any one of the mentioned ideas, and slowly layer in more until your company is a pinnacle of creativity and innovation.

147 SAVES

217 READS

SIMILAR ARTICLES & IDEAS:

The Eureka Myth

The Eureka Myth

There is a big misconception that ideas generate like a flash.

Researches show that such insights are actually the culminating result of prior hard work on a problem. Itt&#...

The Breed Myth

A lot of people think that creative ability is a trait inherent in one’s heritage or genes. In fact, there is no such thing as a creative breed.

Creative minds are not born, they are made. People who have confidence in themselves and work the hardest on a problem are the ones most likely to come up with a creative solution.

The Originality Myth

There's a long-standing myth about intellectual property - the idea that a creative idea is proprietary to the person who thought of it.

But history and empirical research revealed that new ideas are actually combinations of older ideas and that sharing those helps generate more innovation.

7 more ideas

Benefits of a learning culture

During the last recession, companies that invested in their employees, in part by providing the training they needed to move forward in their careers, enjoyed profit gains of 26 percent, compared t...

When hiring, screen for learners

  • Ask about passion projects. Learners tend to pursue something else outside work (training for a marathon, playing with a band, etc.)
  • Focus on curiosity as much as hard skills. Bring up problems currently facing the team and see how the candidate responds.
  • One of the most important things to a learning mindset is the ability to admit you don't know something. So be aware of how they approach the things they don't understand.

Learning as a company policy

This means explicitly defining ongoing learning as a core company value.

Empowering employees can mean providing the time or money to enable learning - in other words, offering learning opportunities as a job benefit like health insurance. 

Introduce some greenery

One study found that workers in spaces with plants showed a 15 % higher productivity compared to those in plain...

Show appreciation

Creating motivation and making your team feel appreciated is a critical part of long-term productivity.

Encourage your team to keep gratitude journals - writing down a couple of sentences about what you are currently grateful for a couple of times a week. This practice improves productivity by increasing happiness.

Create some privacy

If people can't focus on their work, they are less effective in areas like collaboration and learning, and they are less likely to be satisfied with their jobs.

Workplaces with a balance between individual focus and collaboration are more innovative, creative and encouraging.