Innovation: Is It Worth The Investment?

Innovation. What is the value? That is a tough question! Asking the definition of value’ becomes a loaded question. Depending on who you ask¦depends on the question you will get. It is elusive!

The True Value of Innovation

Creating value from innovation is a crucial step for your organization. Value, actual or perceived, creates buy-in. If they believe, they will follow! Of course, when launching an initiative, a tangible value will not be realized right way. It takes time, focus and perseverance. Start out with measures that go beyond efficiency gains. It takes vision to strike a spark. It is a fire that burns deep in the heart of an organization. Measurement is crucial to the process. Measure every step of progress. Compare quarter to quarter and benchmark against accepted performance standards. Over time, as you grow in the initiative, results will go from being perceived to tangible. Tangible results will inspire and fan the flame of innovation. The energy created during this innovation process will inspire more creativity.

Reaping the Benefits

Your project is gaining momentum. You are seeing tangible, measurable results which are producing true value. As momentum builds, always screen and evaluate your initiatives. Find, fund and launch initiatives that align squarely with the values and mission of your organization. Give them time to build, strengthen and gain traction. Finding ways to grow and build your business is solely based on innovation. The hidden result will be that the culture of the organization will change. Encourage the idea of intrapreneurship in building and changing an organization. This will create a forward momentum in the organization that is hard to beat. Gain a competitive edge through innovation and creativity. Never stop moving forward!