MANAGING in the

NEW WORLD

Business innovation is no longer an option but a survival kit. Companies not engaged in the same will get wiped out soon. Thus the pressure for that is enormous especially on creative employees. There are certain steps that the company must never take as these will make these creative personnel depart. The first of these is asking innovators to develop ‘cool stuff’. While this sounds interesting, if not backed by adequate strategy, it is instead an albatross on the neck. Decision making must not be arbitrary or hierarchical but based on merit using proper logic. Innovators are often asked to come up with a business case which is a proposal document with projections running up to 25 pages or more. This puts off innovators as financial planning is not their forte. Innovators also struggle when budgetary and time deadlines are imposed on them. As innovation is not a mundane activity, so a culture of “fire if fail” does not bode well. Constant experimentation is a must and marketers need to be bold while launching minimum viable product. Most companies have this policy of the sales head approving product launches but research suggests that this is not a good practice. In a lot of companies, everything to do with technology is manned by the department by that name meaning that no right to use rests with developers. This delays the launch of products sometimes by as much as six months. Sudden budgetary cuts hurt the morale and operations of the innovation process. The one thing that really puts off innovators is when seniors dismiss their work as mere fun and frolic before the actual work of business development is done.

Source: http://www.forbes.com/sites/tendayiviki/2016/09/12/10-things-companies-do-that-make-their-innovative-employees-leave/#55d36147621e

SKYLINE Knowledge Centre

Phone: 9971700059,9810877385
E-mail: info@skylinecollege.com
© 2017 SKYLINE. All right Reserved.