Teaching Yourself How to Innovate
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With the current state of the economy amidst COVID-19, innovation has never been more important. In the post-pandemic market, having the ability to innovate will be crucial in seeing success, ensuring that you remain competitive, and coming out on top.
Not convinced? You’re in the minority - according to a study done by McKinsey, a mere 4% of executives had no strategic innovation priorities implemented, and no plans to develop any. However, the same study interestingly concluded that few respondents have confidence in how well their companies are implementing processes and tactics that are usually involved in successful innovation.
Now, consider the argument of a research paper about cultivating innovation, written by a group of professors at the University of South Florida. It argues that successful innovation is carried out in a series of steps, and that innovation comes as a result of specific characteristics.
This is where the idea of teaching yourself how to innovate becomes relevant. With so many businesses stressing the importance of innovation, yet a lack of effective approaches to implementation, there is a significant inefficiency in post COVID-19 business growth plans. If you want to improve your odds of success, it starts with taking on and teaching yourself how to have an innovative approach, an attitude of constant curiosity, and a desire to improve.
Before you start to focus on innovative thinking and strategy, you need to make sure you have a clear understanding of your goals. This means understanding what innovation really means, and knowing what it requires. Innovation cannot be defined as simply as ‘implementing technology’ or ‘rebranding your business’ - not unless the changes you make can be implemented successfully and impactfully. Innovation needs to encourage change and rethinking - the role innovation plays in the development and coordination of almost any industry can’t be overstated.
Innovation is an approach and mindset that allows for creative and strategic solutions, whether it improves efficiency, impact or competitiveness.
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The WorkFlow podcast is hosted by Steve Glaveski with a mission to help you unlock your potential to do more great work in far less time, whether you're working as part of a team or flying solo, and to set you up for a richer life.
To help you avoid stepping into these all too common pitfalls, we’ve reflected on our five years as an organization working on corporate innovation programs across the globe, and have prepared 100 DOs and DON’Ts.
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