Scaling Innovation
It's an undeniable fact that high-growth organizations need to innovate. But, how do you scale innovation? Read powerful lessons for scaling innovation to maximize your competitive advantage.
Innovation is a key to succeeding in the business world. Successful business models and practices often become obsolete as the market changes and competitors catch up. But, not all innovations are created equal, and too often companies stop at one or two big ideas. In this page you'll explore how you can scale innovation across your company so that it becomes a key part of your success.
Scaling Innovation
One of the most important things you can do as an entrepreneur is create a culture of innovation at your company. There are many ways to do this, such as by having a slogan that says “We Innovate” or by setting aside time each day for employees to work on their innovative ideas. When scaling innovation, you need to quickly identify which projects are the best, give them the scope and support they need to grow, and get them into the market. People are very important when scaling innovation because of their creative abilities, strong work ethic, leadership skills, and drive.
When one is scaling the innovation process, you need to understand that people can make or break your process. Innovation is a continuous cycle, and if you do not keep it going, it will slow down. In other words, innovation creates opportunities for business growth and profitability, but if you do not add resources to the process, it will be a challenge. I have discovered that a lot of organizations do not think about scaling their innovation process. They assume that once they have a great idea, it will automatically happen. If you do not have a clear understanding of how to scale your innovation process, it will lead to mediocre results. Think about it: car companies spend billions of dollars researching and developing new cars. Some startups do not have that kind of budget and can’t wait until Innovation is a difficult process to scale up. It's about changing the culture of an organisation and building new skills, capabilities and capabilities in the organisation. Innovation starts with creativity and if people feel that they can't be creative in their organization then innovation will fail.
The essential ingredient in scaling Innovation is building a culture that allows for creativity. You need to have a culture that allows people to be creative and innovative - something that tech startups have more of than car companies. So if you want your organisation to be innovative you need to change your culture.