August 10, 2009
Innovation killers / Top Ten Reasons Why Some Company is not innovative
1. Fear: Companies are afraid of change. Change can be good, but it can also be bad, very bad. You must resist fear and take risks to innovate.
2. Money: Great ideas and hard work cost money, but not as much as you would think. Spend your money in the right ways. Provide your workers with a meaningful, exciting environment and innovation will foster. Better yet, hire innovative people and give them the power and resources to make things happen.
3. Know-how: Many companies want to innovate. They are ready for change, but they don’t know where to begin. Bring in a consultant to teach you the ways. After you learn how to create innovative ideas, implement them.
4. Corporate administration: Too much red tape/problems and nothing gets done. Meeting, talks, seminars, studies, reports, and other documentation for the sake of documentation slow people down. Even large organizations should have parts of their company act like a start-up. Then slowly refine processes to make them leaner and more efficient. Implement these processes throughout the organization and the gears of the innovation machine will start turning.
5. Poor Leadership: Innovation starts at the top. An Experienced leader knows that a company must continually adapt to be ahead of the curve. Poor leadership worries too much about him, and not enough about creating the future instead of just surviving it.
6. No Sharing of Information: In order to innovate, information must flow freely. Using form, blog, email etc., everyone can share their known and unknown things.
7. No Recognition: Workers like to be recognized for their hard work. Award them, and make it visible to all of their peers. Let your employees write articles, contribute to publications, and make a name for them.
8. Bottom up Thinking: To foster innovation, it is better to work with a top-down approach. Create a vision of what you would like your business to be, and then start implementing strategies to get you there.
9. Handcuffing Employees: Let your employees have time to work on their own things. A perfect example is Google’s 80/20 policy. Workers are allowed to work on their own projects 20% of their time. In a lot of instances, that 20% leads to new products for the company. Workers will usually be passionate about a project they chose to do, and passionate work produces extraordinary results.
10. No Customer Input: You need to know what your customers are like. The customers’ tastes and likes are fickle. So it is better to know about your customer needs rather than nothing at all.