Researching the web I came across Steven Shapiro's article 'Innovation 101' on IABC. There isn't much literature out there explaining why innovation is necessary, and so this article helps to answer that exact question.
Corporations might find themselves asking this question, what can innovation do for my company? Steven believes that innovation, used properly can achieve the following:
- Reduce costs
- Increase service levels to customers
- Improve overall employee performance and retention
- De-commoditize a commodity business
- Become recession-proof
What has your corporation been able to achieve through its innovation processes? I'm interested in hearing what other businesses out there have experienced through experimenting with different innovation methodologies.
Make sure to read the full article here.