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Monday, November 25, 2013

A Hand's-On approach to R&D Innovations is a Great Strategy

Successful growth organizations are those that are constantly generating new innovations. Involving all staff to participate involves a structure approach, continuous encouragement from the leadership team, and rewarding employees who develop novel business solutions. Many of these innovations can be incremental and some can encompass new lines of business.

It is important that the C-Suite create a culture where staff are free to express their ideas either in ideas for driving new business or in solving customer problems. This culture is what brings increased revenue to the bottom line and improved customer satisfaction scores.

NEW ideas can be encouraged in 3 ways:

1. An annual New Ideas conference or workshop
2. A monthly New Ideas session specific to existing product and services
3. A New Ideas suggestion box right to the Innovations Officer

The key to innovation is to have a process of constantly generating new ideas and a follow up process back to the idea generator. In this way the dialogue remains open and consistent in a healthy manner.

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