Besides surviving into the future, the most innovative firms have much higher rates of return, 30-80% higher, than less innovative organisations. Here’s 7 more reasons to innovate:
- Better Returns (business, societal, financial, personal)
- Take advantage of opportunities
- Improve performance
- Higher Revenues
- Because cost-cutting is not enough any more
- Competitive advantage
Simply working faster or harder or being more efficient will only go so far- what is really needed are fresh ideas to meet increasing consumer, business, political and social demands.
Benefits of Innovation
The benefits of innovation include:
- Increased incidence of innovative ideas, policy options and products.
- Keeping up with rapid change.
- Better quality solutions.
- More comprehensiveness.
- Longer lasting
- Increased likelihood of success.
- Greater exploration of alternatives within the organisation.
- Increased support from stakeholders for proposals.
- Greater responsiveness to emerging issues.
How the Innovation Diamond Fits In
The Innovation Diamond (ID) acts as an effective how-to guide that is divided into five stages; four on ideation and one on project management. ID is a versatile tool that may be either used by a group or by an individual. The manual is filled with tools as well as examples that will enhance workshop management skills. It also offers guidance on behaviors that support innovation.
By using the Innovation Diamond to guide your organisation’s ideation process you’ll be able to measure your progress as well as keep on track.
To learn more about Cris Popp’s Innovation Diamond© click here
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