Simply put, innovation means creating value from ideas.
For many of our clients, innovating, or not, can be a case of life and death, and while it’s not always directly profitable, it‘s creating real value from ideas, such as simple, low-cost treatments to deliver medical ubiquity around the world.
There should be no limits as to where innovation comes from. For us, it comes from our teams, clients, what competitors are doing, and the market overall.
In today’s environment, innovation is all about efficiency and simplicity, so it’s up to businesses to make sure that they have a good set of antennae to pick up on the trends which are making a difference.
Here are our 5 top tips for fostering a culture of innovation within your business…
1. Firstly, you need to develop a roadmap for the journey to creating value, and a concise strategy that lays out where and how innovation is going to help your organisation get to where it needs to be.
2. Businesses then need to create an atmosphere where creativity is welcomed, by making people feel like they can deliver an idea, and that it’s safe to share their own and link up with others.
3. Foster a culture of intrapreneurship within your organisation and reward team members for creative and critical thinking.
4. It’s also crucial to collaborate. The need to build links has always been real, but to truly innovate means networking with people inside and outside of your organisation. Listen to clients, customers, the market, and even collaborate with competitors.
5. Lastly, you need to give yourself time to reflect on and improve your approach.
Mastering the technique and approach is up to individual businesses and people, and you need the ability to manage innovations by being willing to admit that something didn’t work in the past and seeing how it can work better in the future.
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