The Seven Essential Characteristics of Innovative Companies

Innovation is merely a tool to achieve unique strategic goals, not an end in itself. Truly innovative companies have a clearly defined and relevant strategy, and see innovation as a means to achieve these strategic goals. Innovators are leaders in their markets, implement ideas, and reward failure as a means of learning and improving. An environment of trust and autonomy are essential to foster innovation. Finally, innovation is not just about having an initiative; it requires a set of key characteristics for success.