Why is it so vital to unleash innovation in any organisation?
All organisations recognise the need to encourage and extend innovation. The drivers can include increasing revenue, market share and customer satisfaction.
“The only source of profit, the only reason to invest in companies in the future is their ability to innovate and their ability to differentiate.“
– Jeffrey Immelt
However, research also shows that over half of millennials surveyed believe innovation and social development, rather than maximising profit, should be the primary purpose of business. Workers who can make a social or environmental impact are twice as satisfied and motivated as those who are not.
So whatever the reasons, leaders in any organisation need to sponsor and encourage innovation in their Processes, People, Tools, Products & Services and their Organisational structures. Unfortunately, the skills and expertise to do this are often lacking, so innovation efforts are weak and slow to develop. By using a neutral external resource to introduce new thinking, lead and facilitate the innovation efforts an organisation can accelerate and strengthen the results obtained.
“The best way to predict the future is to create it.”
– Peter F. Drucker, American Management Guru