Innovation is not limited to startups and huge multinationals. Clayton Christensen, one of the world’s most celebrated innovative thinkers, says that “Innovation can occur to products, processes or services. It can be incremental or radical, and it can occur at various levels of an organisation, from management groups and departments to project teams and even individuals”. There is no doubt that innovation can add value to every area of your business – it can even be necessary for your survival.
Where does your organisation stand? Answer these five questions to get you started.
- Is innovation a priority for your company and is it fully sponsored by the CEO and the executive team?
- Is there a budget and staff specifically dedicated to innovation and do the expectations for financial returns have appropriate time frames?
- Do you continuously develop and manage a pipeline of potential initiatives?
- Can you quickly create and launch new successful products/services/.market offers in response to market needs and opportunities?
- Even in challenging times, can you continue to fully support innovation because you understand that it will determine the future of your company?
Please see the video below to learn more about the benefits of our Business Diagnostic App: