Success isn’t only about what you know, it is about how you apply what you know.
The process of translating an idea or invention into goods or services that creates value or for which customers will pay is the backbone of the industrial ages.
In business, innovation often results when ideas are applied by each company department and/or workgroup in order to further satisfy the needs and customer expectations. Yet, too often management and staff are settled into their work and miss seeing the opportunities to innovate. A lack of innovation can cause business failures. One of the most recent large business failures is Blockbuster Entertainment Inc. – a.k.a Blockbuster. (See More)
Other recent failures for lack of innovation are Toys R Us. It was, arguably, one of the favorite places for kids, because it offered many different toys. Babies R Us, a sister company to Toys R Us where Moms could find a variety of cute clothes at reasonable prices went down the same path. Both Toys R Us and Babies R Us failed to read the pulse of Internet Commerce and customer shopping/buying trends.
- Three-stage process of change and how to apply them
- Speak UP to High UPs communication skills
- The dance steps to put innovation into place routinely