Innovation is the catalyst to growth. Innovation means doing something different, smarter or better that will make a positive difference. Innovation applies to every aspect of your business – you can be innovative with products, services, methods or business processes. Innovation is free and unlimited – if you actively tap into it as a leader.
Incorporating innovation into your business can help you save time and money, and give you the competitive advantage to grow and adapt your business in the marketplace. Because innovation refers to making things better, it can significantly increase the likelihood of your business succeeding. Research (and real life examples) have shown that businesses that innovate create more efficient work processes and have better motivation, productivity and performance overall.