Profitability through Innovation

'Innovation is the central issue in economic prosperity'- Michael Porter , Harvard Business School. Companies which are innovation stars, do better in the market place. This has been proved by research,which also shows a clear link between better innovation practices, employee involvement and customer satisfaction. A higher market share in the hallmark of an innovative company.While everyone knows that more innovative companies are more profitable, why do more companies not embrace the roadmap to innovation? The answer is simple. Innovation does not happen by wishful thinking. Commitment,resources and a whole new mindset is required, long term to create the culture of innovation. Top management buy-in involvement of the whole organisation in planning , a system to sift through suggestions, tame wild ideas and a system to reward innovators, do play a role. Only the best companies manage to do all this. Stress The Killer: Beware The twenty-first century will be the century of the Mind. The Mind is man's last unconquered frontier. The Upanishads describe it as fast, fickle and uncontrollable, like a dozen swift horses travelling at breakneck speed. Mankind is paying a steep price for failing to learn more about the Mind before embarking on the race for success in the new millennium. Stress is the price we pay for success. Stress stalks the precarious climb up the corporate ladder.