Marketing Strategy from the Masters (Collection)

56. Nurture a Culture of Innovation

Check out the values statement of any technology company, and you are likely to see that innovation is listed as one of the core values. But the desire for an innovative culture extends far beyond technology companies. A culture of innovation has become a requirement in today’s rapidly changing environment. After all, isn’t this the key to creating new revenue streams? Indeed it is, but few companies put meaningful effort into fostering a culture of innovation. If they did, they would undoubtedly create more innovative products and services, and also create new business value across all sectors of the business. Innovation is needed well beyond the confines of engineering, R&D, and product development teams. ...