Different Types of Innovation
In all 3 cases innovation is the key to new product and services that customers wish and are willing to pay you profitably for. Like the new baby, you'll have to create it. Or like Jack, dust off the old and acquire re-focused or re-motivated with new skills, or like the new-rent, bring in outside ideas and capabilities. The problem with all innovation is that it in some method changes the current condition and people around must adapt to the introduction of innovation. So innovation involves risk, and to several people risk is bad, not good. Many senior managers spend much of their time managing and mitigating risk as a issue to be feared above all. Nonetheless there's no growth or improvement without it.
Those who constantly get and encourage innovation produce possibilities. Those businesses and organizations who defend their status quo risk even greater distress than minor changes in the work place. They risk loosing the business if the competition will innovate and customers are paying profitably for their product and services and not yours. The problem is since innovation involves risk, you have got to choose if you'll overcome the immediate risk and possible failure of exploring innovation now, or the harsher risk of loosing market share to competitors who take and overcome those risks you avoided.
When the scientists at Xerox invented what was to become the private laptop, the matter was not that they did not understand a way to innovate. The problem was that management might not acknowledge the potential of new possibilities. Had that PC been a higher copier, they might have jumped on it as a result of it fit their present mode of thinking and slim strategic objectives. As a result of it did not work their preconceptions, they missed it.
? Managing the Fear of Innovation
Two aspects of directed innovation are seeing the need for change and be willing to accept the risk of change. Manage the risk of discomfort and doable failure of it not working in small steps instead of being forced against the wall with not solely big risks, however direct and powerful threats. The interesting thing is that innovation is like a muscle, the additional you utilize it, the stronger it gets. The stronger your innovation muscle, even if you do get a competitive attack, you're a lot of additional ready to handle and overcome it.
Pick an area you are comfy in now and consider how you may improve it in small steps. It might be personal growth like reading a bit more on a theme you're curious about, but never spent any time on.
For someone who has forever been aware of but never understood the stock market, this could be reading a book or take a course on investing.
For a salesperson this might be some further reading on psychology or carpentry.
For a businessman study your competitors and see what they're doing differently than you and learn a lot of regarding it. If nothing else, try and figure out why they're doing it and you're not. The purpose is to stretch a very little and grow into a brand new area.
Innovation, something new, comes in several forms, newly invented, newly invigorated or brought in from the outside. Like taking a brand new route to work in the morning, modification invariably has components that you have got never prohibited before. Your old patterns and quick fixes might not work anymore. In all cases this creates amendment and effective change is managed change. Hunt for possibilities and manage the risks you can.
For the new route to work, leave early enough thus that if you stray, you'll still get there on time.
At work, if somebody comes up with a totally different approach, let them speak and don't dismiss them right away. Whether or not the thought isn't directly useful, thank them for thinking out of the box or making an attempt to help. If the concept will be applied, notice a way to allow them to help implement it. Or use it as a springboard for different ideas.
? Stay within the Innovation Gym
In our world, if you do not innovate, you may cease to grow and no growth suggests that eventual loss of market share and loss of business momentum. Start with tiny steps in your personal life; get snug with a very little change. Then begin encouraging innovation at work. Take small steps and keep exercising that innovation muscle.
Copyright Donald Mann 2008, all rights reserved.
Don Mann is CEO of RiteMann Consulting Inc.; an organization that helps businesses improve sales, profits, money flow, individuals effectiveness and innovation, and is found in the Wilmington DE area.
He has delivered solid results in organizations starting from start-ups to Fortune one hundred by leveraging best practices across industries. This includes international businesses in monetary services, manufacturing, chemicals, distribution and high tech industries, and well as governmental, military and community organizations. His results embrace developing and improving highly productive and lean organizations with improved sales and profits, additional rapid responsiveness, reduced stress and renewed target client delight.
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