For an organization, the ability to transform itself with time determines its longevity and that it why we see some businesses to survive for a few years while other last for decades. However, here the fact is, many people who are the top ranked at their organizations do not like to rely on innovation of creativity rather they like to run business on their pride and old traditions. You might even hear them saying “we always do things on our ways”.
However, we should let them to do things on their way. Organizations that always give value towards innovation and want to keep creative people with their business will definitely last for longer than those that have been ignoring such serious issues. The true essence of innovation is to grow up with time by thinking differently about the product, process and employees.
We can relate to the term innovation with change. If we observe a modern top ranked multinational company, we will find that the company has been going through the process of continuous change since the time of its emergence. Organizations that will not transform their business strategy and have been ignoring the prospect of continuous innovation and creativity will succumb and perish by the erosion of time.
True Meaning Of Practical Innovation
The term ‘practical innovation’ signifies developing creative ideas with modern thought process than putting them into a direction for the final execution. In other words, if you have ideas to work on, then develop a strategy or plan and then start to work on the project.