Innovation

In today’s hyper competitive business environment the ability of an organisation to innovate is critical to continued existence or excellence. Every organisation must strive to discover a business advantage to improve its competitive position. Being innovative can be one such route. Research in the US which looked at 17 successful innovations reported a return on investment of 56% which compares very favourably with the average businesses return on investment of 16%.

Peter Drucker one of the most influential business thinkers in the last 50 years described innovation as the one business competence needed for the future.

Competition from India and China was originally seen as coming from their ability to manufacture products cheaply. This is also changing and companies from these countries are increasingly becoming innovators. New ways of serving their customers are being developed along with many new products and services.

How does an organisation benefit from innovation?

New products can revitalise a market or sector, they can raise a company’s profile. A new service may be alone in its market for a period and premium prices can be obtained, and developing a reputation as an innovative organisation will be attractive to others seeking new solutions to problems and encourage the most creative people to work for you.

We frequently hear the cry that “we are not creative here”. This  need not be the case or and managers must not short change the businesses stake holders by accepting it. There are many tools and techniques that can boost creativity and make innovation easier.

We can make your business more creative and innovative to find out how telephone with your name and contact details to 01277 896452 or e-mail them to info@ceostra.com and we will call you back.