Page 2: Innovation
The innovation agency believes that the business world offers less and less protection to those who don’t innovate. Today, information travels in an instant from one organisation or person to another. The speed of Information Technology processing systems means that knowledge is at a premium. Competitors copy you in days rather than years. An organisation’s only competitive advantage is its ability to adapt to change and to introduce change. In the past, the biggest and best organisations were those with the best machinery and capital equipment. Now, ideas are the most valuable asset. However, it is not sufficient to have one single good idea - a constant stream of new ideas is essential. Innovation must be adopted as a way of life.
So what makes great innovation?
There are many characteristics which enable innovation within an organisation:
- A fiery eyed passion. Within any organisation, there are always people who want to make things happen, who come up with and embrace new ideas. The innovative organisation will encourage these people.
- A challenging culture. An innovative organisation will allow and encourage employees to challenge existing practices and come up with new and better ideas.
- Making it real. Innovation is not just talk, it involves putting new ideas into practice.
- Speed. An innovative organisation is one in which changes are talked through and acted on quickly before they have become out of date. New ideas can pass the “sell-by date” very quickly.
- Embracing failure with joy! An innovative organisation recognises that failure is an inevitable part of change and that much can be learnt from failure.
- A two-way flow with the outside world and with consumers. An innovative organisation is not inward looking. It encourages dialogue with the outside world and particularly within the marketplace.