Innovation is essential for the growth of every business. However, the problem faced by organizations, where creativity and innovation are concerned, is not that business owners or managers do not see the need for it, but that they do not know how to identify, encourage and implement innovations.
In separate surveys conducted by Hay Group and fortune Magazine, it was identified that the most admired companies are now focusing their work on how to promote and encourage innovations. Hay Group’s insights indicate the need for developing a work culture conductive for innovation, a task business leaders must take up.
In a world where customers are driven by creativity and innovation, leaders must be better trained to see ideas and run with innovation should their companies gain competitive advantage over similar brands.
The research suggests that organizations need to develop in three key areas, leadership skills, organizational structure and reward strategies if they want to encourage innovation within their originations. Employees must be encouraged to come up with ideas that will make the business grow.
The mistake most employers make is letting employees feel their inputs are a waste of time and not worth the salt. It is advised that employees keep an open-door policy and encourage communications that champion innovation.