It’s normal for a human mind to make mistakes, and if they don't then certainly you are not on the correct path. In this fast-paced business scenario, innovations are taking place rapidly. And those who don’t adapt to these changes, are surely going to face a huge loss. As said by Sallie Krawcheck - “If you’re not making some notable mistakes along the way, you’re certainly not taking enough business and career chances.
To stand with the market norms, the company needs to adopt new changes and follow certain rules to compete globally. Here are 5 essential elements to avoid mistakes and have a proper guide to business innovation.
Communication – An essential element to welcome new ideas
Having meetings and discussing the projects is not enough. Communicating with the employees regarding their views, ideas, and feedback for a specific project is what needed to be done for welcoming new ideas to the organization. Management needs to consider regular communications when they want to welcome new ideas and innovations.
There may be employees who are unable to share their ideas in front of the management due to their introverted nature. In that case, managers can schedule face-to-face meetings or virtual meetings to bring up smart and innovative ideas to the company.
Task management software can work best for communicating with the team. The tool allows the management to collaborate with the team whenever required while reducing the gap between the hour-long meetings. The flow also eliminates the lengthy process by accumulating their extra-time spent on other tasks. With this, the team will be able to communicate easily and clearly, without spending extra-long hours and lengthy meeting processes.
Experiments – A process need to carry out
Experiments are a necessity for innovation. Until and unless, you don’t experiment, you won’t be able to know the changes and feedback an innovation can give you. As every project requires report generation to track the work progress. Same way every innovative idea needs an experiment to know the results – an innovation can give.
Explore the Ideas, before it Goes Off Track
Over the years many larger companies have lost their share in the market due to straight NO to innovation.
Let’s take the example of NOKIA – the company can be referred to as the mother company which bought the mobile phones and created a history for the same. Over the years the NOKIA recorded the best but in 1994 when IBM launched the world’s first smartphone, it took over the market with the best-selling share. From then, we can evaluate the changes that occurred with the innovations and how the market was taken over with the first one to innovate. Buy NOKIA, remained the same and didn’t contribute to the innovation, and the company started going into losses until 2014 when it launched its first android phone, and then gradually it again grossed the market with its newly launched series.
This shows the importance to adapt and innovate the changes with the changing norms to keep a hold in the market and if you lack behind, you are going to face a drastic loss towards your business heights.
Employee encouragement
Employee encouragement is the best way to encourage your team members when getting on board for ideas generation, feedback, and other suggestions as well. Encouraging individual employees v\s team encouragement. Individual encouragement can be seen as a better result in comparison to team encouragement. Individual employee encouragement works much better than encouraging a team, as every employee tries their best to give to the organization and in return, an organization must giv3e enough encouragement to the employees individually when working as a solo worker. It is of utmost importance that an employee must be given proper encouragement to work flawlessly.
Organized Work-Flow
An organization needs to have an organized work-flow and proper hierarchy management, to establish easy communication between the management. Employees feel low and are unable to consider their ideas to the management due to unorganized management level.
For example, if an employee wishes to consider his ideas to the management, he needs to get it approved by his team lead, then middle-level management and at last it goes to the management hierarchy. This takes a much longer time to get back the review and employees feel low on their part of ideas.
To innovate your business, a company must have an easy approval process and a team task management tool will be beneficial for the management to form a simplified hierarchy. The tool provides a platform for the management to discuss the feedback, ideas, and other queries easily, without getting onto a long process of work-flow.
