You can innovate yourself out of business.
Peter Drucker said business is innovation. The ability to find new ways to do something.
Technology isn’t the only way to innovate. It could be as simple as finding a new way to do something.
Many businesses focus so much on innovation that they are actually losing money on innovation because they are essentially innovating products or services customers don’t care about.
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Your organization’s leadership may be happy. The engineering department may adore the bells and whistles. However you are losing money if the customer isn’t salivating.
What you have to focus on is making your innovation strategic. Hence think in terms of strategic innovation. Netflix and Blockbuster is one.
How often do you focus on this? Some people innovate because they care.
You focus on it constantly. Strategic Innovations that can meet your customer’s needs and make you profitable.
If you’d like more on how our strategic innovation solutions can enable your firm to develop mastery contact us.
Jim is president of InnoThink Group a competitive strategy and leadership management consulting firm. He has an absolute passion for people development and are constantly refining and adapting his programs in order to ensure that they have the maximum impact on those we serve. – See more at: http://innothinkgroup.com/our-leadership.html