Innovation is one of the coolest and most overused terms in the business world. Most of us use it loosely to portray the company’s technological advancement. Innovation is not limited to technology, however. So let us first try to answer why some companies are so innovative.
Innovation is driven by long-term continuous efforts to challenge the status quo and deliver better solutions. Hence, to be truly innovative, you cannot rely on a few projects or programs of work. They are short-term initiatives.
Innovation is driven by the people and partnerships of the company. The fact is that the organisation’s culture drives innovation. Innovation is ingrained in the DNA of companies through their culture.
The question is, as an executive, how are you influencing your company’s culture to promote innovation?