Innovation is not limited to R&D organization but is everywhere and innovators are in great demand.
Innovation is mindset that should permeate your entire enterprise.
And feedstock for innovation is insight: an imaginative understating of an internal or external opportunity that can be tapped to improve efficiency, generate revenue or boost engagement. Insights about stakeholder needs, market dynamics or even how your company works.
Several Fortune 500 companies have Bern founded on the insight about what customers want. For e.g. Starbucks bringing bit of Italy to coffee shops, Home Depot DIY approach etc.
You can get powerful insights by:
- brainstorming with colleagues
- sifting through data
- introspection
- etc etc
BUT, never wait for the proverbial apple to fall in your head and do away with the mindset carry on as usual.
Although many great ideas come serendipitously but individuals should approach innovation in a more systematic way.
(Adapted from ET, 13 Nov 14)