Posted in Management Best Practices
Ever heard of Moore's Law?
It's not a "law", per se, but a set of observations and predictions made in 1965 by Intel co-founder Gordon Moore. In essence, Moore's Law states that computing power should double roughly every two years.
More than 50 years later, thanks to advances in robotics, analytics and other technologies, we've dramatically outpaced that rate of innovation. Artificial intelligence and the Internet of Things (IoT) are here – disrupting and transforming everything around us.
The phrase "innovate or die" is no longer a catch phrase; it's a business imperative.
Sure, it's easier to preserve the status quo or merely push for incremental improvements. But "playing it safe" puts your business at prime risk for becoming irrelevant, outdated or obsolete. In the ever-changing landscape of 2017, how can you ensure that your organization stays ahead of the curve? Engage in these activities that fuel innovation:
Make yourself – and your teams – uncomfortable.
Innovation can be an intimidating and scary proposition. It requires you to reject a "that's how we've always done it" mentality in favor of uncertainty and calculated risk-taking. If you really want to lead in your industry, however, you need to get comfortable with discomfort. Only by challenging the status quo can you move from improvement to innovation.
Encourage constructive conflict.
A team of "yes men" may agree with everything you say, but they won't drive your company forward. Aim to hire people with diverse backgrounds, values and viewpoints – people who (respectfully) challenge one another's thinking and build upon the best, new ideas.
Have your team's back.
To truly create a culture in which innovation can take hold, build employee relationships based on trust, support and shared confidence:
- Make it clear that your organization welcomes ideas that are unpopular – even controversial – if they address tough challenges or real threats.
- Support the right environment with sound processes. Outline the parameters for testing ideas and taking calculated risks.
- Never punish or ostracize employees for trying and failing. Focus on what you learn from the experience.
- Share successes and lessons learned with the whole organization.
Find fresh sources of inspiration.
Revolutionary ideas often come from the most unlikely places. Increase your inspiration "at bats" by reading outside your functional area. Networking outside your industry. Following great thinkers and innovators on social media. And then encouraging your employees to follow suit.
If you're looking for ways to foster greater innovation in your company, get inspired by these amazing examples from our earlier post, "Drones. Self-Driving Cars. Robot Armies."
Fuel Innovation with PrideStaff
To develop the best strategy for your organization, schedule a free workforce consultation with us. Together we can assess your needs, brainstorm options and design creative solutions to help you stay ahead of the curve. Contact your local PrideStaff office today to learn more.