A recent Forbes article, Why Great Ideas Fail, attempts to answer this question and offer guidance towards improved business innovation success. Drilling to the heart of the issue, the post explains that it is not the idea but more often the culture that fails. Instead of confining creativity to a closed-off lab, the concept of an open innovation model is being recognized and implemented within leading companies.
“Executives recognize that innovation is an essential component of organizational success, and may require shifts in mindset and culture. Create space for innovators to escape the daily grind. Help them unlock their creative potential by forgetting about the limitations of the existing business.” –CEB Views
Our professional consulting supports the belief that an open innovation approach to business sustainability offers stakeholders the opportunity to become engaged in the future of a business. By recognizing that key stakeholders have a vested interest the success of the company, sustainable leadership can create openness to new ideas that promote business success and innovative ideas.
Promote innovation as a competency: Innovative companies treat it as just another core skill.
Promote innovation as a competitive weapon: Innovative companies use innovation to differentiate themselves.
Promote innovation as a process: Innovative companies don’t treat innovation as special, unique activity. They see it instead as an ongoing “stream of effort” along with quality, leadership, productivity, and other imperatives.
Promote innovation as both systematic and opportunistic: The most innovative companies flex between different styles of creating opportunity.
The business world too often approaches sustainable development with traditional structured implementation processes. In contrast, our professional consulting has observed that those who excel are those who step outside the traditional business structures to add and spontaneity to their long-term business sustainability plans.