TIPS FOR A SUCCESSFUL APPLICATION OF INNOVATION IN A BUSINESS
Journal Title: Journal of Innovations in Business and Industry - Year 2023, Vol 1, Issue 1
Abstract
For a company, the innovation process can be very costly in terms of time and resources if not planned properly. Therefore, companies must take the right steps for innovation and lay the right foundation for a successful innovation process. Businesses that determine innovation as a strategic goal in their companies and add this purpose to all their employees have always been successful in innovation. It should not be forgotten that innovation in businesses is everyone's responsibility and this purpose is critical to the success of the company.You can consider the following tricks to develop a successful innovation strategy in companies: 1. Make innovation a part of your culture: Explain that innovation is not just a department's responsibility, but a process that everyone can contribute to. Create a culture that values innovation. 2. Motivate your employees: Value and reward your employees' innovation ideas. Encourage employee engagement by using tools like innovation contests or idea boxes. 3. Do research: Keep up with innovations in your industry and do research to understand customer needs. In this way, ideas that you haven't thought of before may come up. 4. Build strategic partnerships: Explore technological or collaboration opportunities by forming strategic partnerships with other companies. In this way, you can discover new ways in the innovation process. 5. Don't be afraid to take risks: Recognize that some ideas can fail in the innovation process. But that shouldn't stop you from generating new ideas. By taking risks, you can contribute to the growth and development of your company. 6. Innovative leadership: Lead your employees to adapt to the innovation culture by adopting an innovative leadership approach. You can also increase your company's innovation capacity by establishing a management structure that encourages innovation. 7. Invest in new technologies: Follow new technologies and invest according to your company's needs. Thanks to new technologies, you can make your business processes more efficient and improve the customer experience.In this paper, it is explained which points an enterprise should pay attention to while implementing innovation. Examples related to the subject are given.
Authors and Affiliations
Bulent Eker, Aysegul Akdogan Eker
Keywords
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- EP ID EP727359
- DOI 10.61552/JIBI.2023.01.006
- Views 64
- Downloads 0
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