Business organizations look for more competitive advantages over the competition to survive in the market. In addition, corporations target to maximize their own profits. To gain and obtain competitive advantages, companies put all their efforts into the game. Sometimes, real innovation is even substituted by simple replication and only incremental improvements.
Innovation is basically misunderstood most of the time. Innovation is not just a mere change in technology or methodology. It is the a situation in which companies embrace the technological changes while keeping the upcoming trends in mind. However, outperforming and overdesigning doesn’t help a lot in the long term. Obviously, it can grab the attention of masses in the short term.
But don’t waste the time responding to the moves of your competitors only. Rather you must spend your energies to set new trends in the market. This is the real value of true innovators. They are able to build innovation engines or an innovation funnel inside a company.
It is vital truth that in the 21st century, organizational growth is very much linked to innovation. However, within the organization, there are leaders who always oppose the implementation of such innovation strategies. They most of the time argue with risk associated arguments and tend to go for what is less risky and comfortable for them. And here lies the issue. It must be understood that, unless you are not open to the challenges and you don’t have courage to face the change, you must not expect any kind of growth at organizational level. At least not the kind of growth that would outpace your competition.
Why a Business Organization Needs to Go for Innovation
Look around yourself, the world is changing day by day and changes are happening overnight. The speed of globalization has shifted one gear up. You and your company are part of this world. In this world, novel rules are applied which need to be addressed accordingly. Contrary to what some of the organizational no-sayers believe, you are not part of a world of simple, linear change. The opposite is true. You are moving towards indisputable paradigm shifts that are marked by the rising disruption and discontinuity of old methodologies, technologies and businesses trends. Hence survival of the business organizations is pretty much associated with acceptance to the innovative changes.