Q: What does it mean for a company to be innovative?

Posted by on Sep 22, 2016 in Branding, from Q to A | Comments Off on Q: What does it mean for a company to be innovative?

Q: What does it mean for a company to be innovative?

A: Innovative is a big word, one that is used more and more in our ‘innovation economy’. There it is again. I used the word. When overused however, it can easily become meaningless.

If you’re going to use the word innovative as an adjective to describe your company or brand, you need to be able to demonstrate what you mean by it.

I recently attended a Downtown Orlando Partnership panel on the topic of innovation. Here are the many ways the panelists described innovation in their own organizations.

  • By trying, you either fail, win, or win big. But it starts with trying.
  • Eliminating red tape.
  • Having a base built around structure. Without it, you cannot innovate. Learn the rules and then be prepared to stretch, or even ignore them.
  • Establishing a culture of innovation.
  • Listening, to employees and customers.
  • Realizing an employee with a good idea isn’t crazy. They are passionate or courageous, but not crazy.
  • Staying up on trends. Stay up on customer demands.
  • Outsourcing innovation. Focus on what your company does best and outsource the rest.
  • Understanding it doesn’t necessarily mean inventing something. It could mean being more efficient or effective. Or it could mean better execution than your competition.
  • Reward employees for ideas. Read about IBM and how they went from traditional to innovative.

How does your company demonstrate innovation? Connect with me to share your story.

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