Wednesday, January 4, 2012

Important Elements in Building a Culture of Innovation

 Long-term initiatives: It is essential for companies to engage in long-term initiatives to help ideas rise from the grassroots to the top quickly. Start-stop programs and on-off creativity sessions should be avoided as they are not very sustainable. It is also important for companies to get top management commitment, from the CEO downwards.
 Listen, reward and celebrate thinkers: Plan at least for a year. Talk to customers, suppliers and competitors. Listen to production, marketing and R&D internally. Get them to talk to each other. Reward and celebrate thinkers.
 Extend ultimate support: Support the best ideas, right through to completion. Hand hold through tough times. This is critical. Support your people through the dark night of the innovator.
 Change and opportunities: Look within the company and outside for innovative business ideas. Within the company every process presents an opportunity. Changes within the industry or market present opportunities. Ageing populations, working women, the latchkey children are all demographic changes that provide opportunities for innovation

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