Innovation is a Significant Driver of Corporate Growth: Sharpen Your Innovation Skills Using These 3 Helpful Tips
By Michelle Hendelman, Editor-in-Chief
Innovation is a word that is often used in association with business growth and competitiveness, but what does innovation in action look like and how can you make sure you are flexing your innovative muscles at work?
Recently, Harvard Business Review reported that the lack of innovation was one of the biggest mistakes Steve Ballmer made as CEO of Microsoft. He didn’t necessarily do anything wrong. After all, he did manage to keep Microsoft’s stock price steady during his time as the company’s leader. But, he didn’t really create a “wow factor” around Microsoft or its product lines either. As a result, Ballmer has been the topic of much media debate over whether or not he led the company with enough attention on innovation.
While Microsoft has not met the same demise as former tech giant, RIM, the message to companies is pretty clear: innovate or die. Julia Kirby, author of the HBR article writes, “Despite two decades of seeing the problem, very few CEOs have thought seriously about how their organizations should be reinvented if innovation matters more than anything else. Well, guess what: it does.”
As a recent Deloitte report suggested that innovation is not limited to a select few within a company’s org chart. Instead, companies need to start recognizing the value of institutional innovation, which Deloitte describes as, “redefining the rationale for institutions and developing new relationship architectures within and across institutions to break existing performance trade-offs and expand the realm of what is possible.”
Where do you fall on the innovation spectrum?
If innovation is becoming the cornerstone of competitive businesses, innovative people will become even more valuable. If you want to remain an asset to your company, you need to continue to sharpen your innovation skills, so that when the opportunity arises to turn ideas into actions, you will be ready. The following tips will help you keep innovation on the top of your to-do list each and every day.
Harness the Power of Teamwork – There is research suggesting that women tend to navigate toward cooperative environments. Additionally, women recognize the value of teamwork over individual performance. If working in a team boosts your mental productivity and results in better brainstorming, then you should find ways to foster more teamwork. Just make sure that at the end of the day, your contributions to the team are well-defined. It is still important to be recognized for the part you play in developing innovative thoughts and ideas, even if the process is a collaborative effort.
Make Your Voice Heard – If creating a more team oriented work environment is not a practical solution to innovation, then it is vital that you speak up at strategy meetings and voice your ideas in front of the entire room. Speaking up at work and being an advocate for yourself has been identified as one way women can close the gender wage gap. Applying that mentality when it comes to sharing your ideas can help you make sure that you don’t fall through an innovation gap as well. Be vocal and be confident that your thoughts and ideas matter. Sharing your knowledge and experience makes you a leader in your company and shows the key decision makers that you know how to walk the talk when it comes to your business.
Surround Yourself with Thought Leaders – If there is one thing you need to know about innovation, it is highly contagious. When you surround yourself with thought leaders in your company or industry, you will feel yourself opening up to new ideas, new ways of thinking, and new business solutions. In order to innovate, you need inspiration. Some of the best ways to find inspiration are to network, read business books, and use social media platforms to expose yourself to great thinkers and doers. This is a surefire way to get your mental muscles thinking in an innovative way.
While there may not be a set formula for innovation, there are certainly steps you can take to keep yourself on the cutting edge of development. Falling behind the quickly spinning wheel of innovation makes it difficult for you to be an effective leader and a valuable team member. Just remember, when it comes to your own career advancement, innovation is a key factor.
