Innovation in business - Deepstash

deepstash

Beta

deepstash

Beta

9 Ways Your Company Can Encourage Innovation

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.

144 SAVES


EXPLORE MORE AROUND THESE TOPICS:

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.

Lack of innovation in larger corporations
  • As companies start to grow, they often experience a downturn in innovation as management layers increase. 
  • Many larger corporations are now attempting to harvest the suc...
3 performance management must haves
  1. Risk-taking. Create a culture in which risk-taking is encouraged. Fear of failure is one of the most common inhibitors of innovation. 
  2. Increase learning agility. People with a high learning agility are able to take feedback and adjust strategies accordingly, without becoming discouraged. 
  3. Creating cross-functional teams. Organise teams with different skill sets together on an ad hoc basis to tackle particular projects. It creates a smaller pool of decision-makers and allows the team to benefit from cross-departmental knowledge.
Allowing Ideas To Safely Flourish

Take a moment to consider if your employees and team members are coming to you with new ideas and innovations.

To create a sense of security where employees will feel safe to share their i...

Increased Diversity

Companies with increased growth are 72% more likely to have high diversity in their organization.

Use Learning & Development (L&D) training to raise awareness about the current state of diversity and inclusion in your work environment.

Agility Breeds Sustainability

Up to 70% of trainees forget what they learn within 24 hours after training. However, it does not have to be the case for your employees.

An effective leader will implement and integrate an agile training infrastructure into their daily operations that can change quickly to keep up with the pace of innovation.