By Maximus Newsdesk
In uncertain times, it can be easy to put innovation on the back burner as too expensive, too time-consuming, and too risky. Yet controlled, ROI-driven innovation is an essential element of a successful business growth strategy and can generate ideas worth millions of dollars. In our experience, fresh thinking is essential to take organisations to new heights at any stage of the economic cycle.
Australia was founded on the innovation and natural entrepreneurial spirit that is now part of our DNA. Every day, innovative people generate ideas in every Australian organisation. Realising the value of these ideas is something that few organisations do well; they lack formal processes for collecting, qualifying, and prioritising ideas based on strategic and nancial returns.
By investing time and effort into channelling smart, results-focused thinking, you can gain a competitive edge and secure a more sustainable future for your business. You should aim to create a culture of innovation, with robust processes that underpin and crystallise the value of ideas. Innovative businesses grow regardless of how the economic landscape looks. Why? Because they are clearly differentiated, they invest cleverly through different market cycles, they seize growth opportunities, and they respond quickly to changing markets.
But how do you turn a reactive, risk-aware operation into a proactive, progressive, entrepreneurial enterprise?