Innovation is the fuel that feeds organizational growth and drives future successes.

Importance of the innovation

Management must perceive an innovation has added to the bottom line, even though the measure of that value may be qualitative or indirect.

Timing of any innovation requires consideration of the amount of change the innovation creates. If the innovation comes too early, the market might not be ready to accept it; if it comes too late, you give your competitors an opportunity to gain greater market share.

Sources of innovation

In theory, all members of an organization are sources of innovation, but the process differs if it begins from the top down, as opposed to the bottom up. For example, potential problems with finding resources for an innovation tend to dissipate if management is driving an activity, rather than employees.

People

People are the most important resource or asset an organization can have; at the same time, they are among the most difficult to manage, due to the potential for wide-ranging diversity in attitudes, work habits, personal and professional philosophies and a host of other areas. Managing people resources often generates into a numbers game, often unwittingly acceded to by upper management. Too many times, problems are addressed simply by adding staff, a bad circumstance that compounds itself once the problem is solved and the layoffs begin.

Communication

If an idea cannot be communicated, it is of little value; someone somehow must be able to clearly articulate not just the idea, but also its importance to the organization. Indeed, the ability to communicate effectively in many different formats cannot be overemphasized. There are five basic types of communication to master: — oral, written, graphic, listening and reading.

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