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9 Ways Your Company Can Encourage Innovation

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.

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IDEA EXTRACTED FROM:

9 Ways Your Company Can Encourage Innovation

9 Ways Your Company Can Encourage Innovation

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

entrepreneur.com

10

Key Ideas

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.

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.

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.

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.

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.

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.

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.

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.

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.

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3 performance management must haves
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  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.
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Communicate your leadership signature

A leadership signature: Who you are as a leader and how you view and approach the job. 

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Be a sense maker

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We need to make sense when something in our environment seems to have changed. We collect data, learn from others, look for patterns to create a new map of the landscape. Then we experiment with new solutions to see how it will respond to this new environment.

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