The 8 Characteristics of a Strong Innovation Program

Innovation is necessary for a company's growth and success, and there are several characteristics that are common among innovative organizations. These include always having numerous ideas in the pipeline and the ability to "think outside the box." Innovation teams also need to be persistent and accept a certain amount of risk. To be innovative, a company must have a sound financial base, allocate enough resources to product development and maintain good organization and streamlined development processes.