By clicking “Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.

How can business encourage innovation?

How can business encourage innovation?

Innovation is the lifeblood of any company. It's what keeps companies relevant and competitive, and it also provides employees with a sense of purpose. The question on many business owners' minds right now is how to encourage innovation in their workplace without making it seem like an impossible task. So how do you foster innovation at your company so that you can continue to grow?

Transparency:

Be transparent with your employees. If you're going to innovate, the entire company has to be on board. Let them know what's happening behind the scenes to provide input and say what happens next.

Communication:

Keep communication channels open at all times by using email updates, text messages, or even social media posts for those who are constantly connected!

Tiger teams:

Create an innovation task force of different departments within your business that meet monthly and review ideas together for ways that each department could collaborate more effectively.

Ownership:

Allow access to information to everyone about new products coming out as soon as possible instead of keeping it top secret until release day - this will give people time to take some risks with their projects.

Taking risks to innovate:

Corporations are incentivised towards making money and minimising risk. Yet, the only way to be a disruptor is by taking risks.

Investing in innovation:

It's difficult for a company to grow and remain innovative. Significantly few leaders can balance the short-term and the long term together, which can also be very important in terms of growth, while also being willing enough to have that long term horizon that they're ready to sacrifice things.

Will you be the disruptor or the disrupted?

The key to fostering innovation within your organisation is developing an atmosphere where people feel comfortable taking risks to create something new that will benefit not only them but also the whole team. Whether you're looking for inspiration or need some guidance, let our experts help you unleash your creative potential by telling us more about how you inspire innovation at your organisation.