Start by understanding the role of innovation and its potential to move the needle. Think about product and market opportunities. Think about those who have capitalized on disruption, and ask yourself, “How can I create, or re-create, a higher level of value and differentiation in what I do?”
Innovation also means leveraging data, technology, and platforms. It means developing new business models, processes, and products that enable you to stay relevant while extracting maximum value. Understanding these core tenets of innovation will enable you to develop the best strategies and approaches to drive your organization forward.
Innovation is not just about new technologies, but extending existing technologies in new ways. Learn how to use industries such as big data, artificial intelligence, and the cloud to test, experiment, and deploy the right innovations quickly. Making the right investment in innovation will not only fuel growth but also improve operations, reduce operational costs and even increase customer satisfaction.
To succeed in the long run, it’s critical to have a culture of questioning and innovation built into the DNA of your organization. Create a space to explore, challenge, and refine ideas to develop innovative solutions and make an impact. By investing in people and technology, you can ensure a cycle of continuous innovation and greater success.