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There is no arguing that in today’s marketplace companies must innovate to survive. There is more pressure now than at any other time in history for innovation, especially if companies want to be industry leaders. This is because rapidly changing technology is continually driving changes in markets and shifting trends in customer behavior and expectations.
Companies that encourage and reward intrapreneurship have a great advantage when it comes to retaining the best talents - especially important in today’s creative climate. Here are a few ways that your company can turn your employees into highly-engaged intrepreneurs.
The latest Innovation Leaders research shows that there is an increasing number of high-growth companies that are prepared to take greater risk and make big bets. Rather than focus just on incremental growth, they are being bolder and are seeking to develop more radical innovation opportunities. Despite requiring significant investment and offering no guarantee of success this approach has been transformational for some. Where and why is this happening and what has changed that has made this approach more common?
Today’s pace of life can make you feel like you are strapped to the top of a rocket. With more and more screaming for your attention, we barely have time to send that long forgotten birthday card, let alone to sit down and think about the long-term effects of our innovations. But what if your latest and greatest innovation turned out to damage the lives of millions instead of improve them as planed? What if your proudest moment was also your most heinous?
Today, meetings consume close to 40-50% of executive time. That’s 100 days per year! By some measures 80% of meeting time could be better invested in closing business, developing talent, recruiting new customers, conceiving new products or improving operations – just about anything other than gathering for another conversation without productive outcomes.
This is the first in a series of articles that take the need of Innovation under the loop and share some of the imperatives, must have’s if you will, to create and sustain “NEW” in business or organizations. The material is based on 25 years of hands on experience in the innovation space and the recently published book “Robert's rule of innovation”.
In this article, Heinz Essman, contributing editor from South Africa, introduces a set of proposed fundamental principles for innovation. It is indeed a proposal and we are very interested in hearing your views on this. Welcome to read and then visit the InnovationManagementForum.com to share your views and discuss with like-minded.