EntrepreneurshipInnovation Is Directly Proportional to Your Business Growth

Innovation Is Directly Proportional to Your Business Growth


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Innovation Is Directly Proportional to Your Business Growth

“Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.”

– Peter Drucker

Innovation is integral to success and growth of any business. Heard this popular quote from Albert Einstein, “If you always do what you always did, you will always get what you always got.”

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The quote highlights how innovation is an engine of growth and corporate expansion. It is an established fact that a unique idea can make a company break the niche segment and attain a dominant position in an industry. But, is it so easy to be innovative? If yes, then imagine how many of us would be vying for the top position.

In today’s dynamic business environment, where recession and bankruptcy have become a part and parcel for all entities, persistent innovation is the only way to stay ahead in the competition. How can companies manage to be persistent on this aspect? Through innovation mining and innovation workshops.

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Innovation labs

Innovation workshops have become a priority for all organizations, irrespective of their size. Not only does such a workshop infuse a new idea generation process, it also inculcates the principles of team building. There is a lack of place for innovation in our corporate environment today. We spend on establishing a research and development department and assign the task of unique thinking to them. What about other departments in your company. Don’t they have any ideas?

Necessity is the mother of invention but to survive today, it is the hunger to innovate that will take a company ahead.

Innovation training can help a company realize its full creativity and potential with its existing set of talent, processes and competencies. It is a holistic process that makes a company visualizes its future, in terms of where it will be, what it would be selling and how it will be managing people and processes optimally.

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“Minds are like parachutes; they work best when open. – T. Dewar

This is exactly what innovation development programs can do for a company. These programs can engineer and design activities that facilitate employees to come up with innovative ways to deal with a situation/crisis.

The Experiential Innovation workshops

These workshops are ideal since they involve a mix of fun, creativity and the engaging methodologies that motivate employees to flex their thinking in surprising ways. Employ a practical way to deal with your challenges and expand your business horizon, invest in innovation!

Remember, there are no old roads to new directions…

by Padmaja S Singh

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