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Business innovation is not a one-time eureka moment as often portrayed in motivational blogs or videos. Instead it involves a series of steps and processes to foster the moment. First of all, the company concerned must have a clear corporate strategy in place, with quantifiable goals mentioned. Such mission or vision outlined alone is not enough, as the team must ensure they reach the implementation and execution stage. There will be challenges along the way, but these must be embraced rather than avoided. Crowdsourcing of ideas may be one of the best approaches to deal with them. Constant collaboration and interaction is a must across different stakeholders. Since not all ideas will go up to the execution stage, the ones shortlisted need to be tried out through pilot projects and simulated business cases. Such experimentation need be tangibly measured, improved upon, and adapted to the circumstances. Whosoever’s ideas get to the final stage, need to be amply rewarded and recognized by all as this will provide the fillip to continued future excellence.

Source:http://innovationexcellence.com/blog/2018/03/10/the-eight-pillars-of-innovation/

Uploaded Date:17 May 2018

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