focusing on and increasing your innovation process can help your organization to increase its competitive advantage.

1. 3 WAYS TO BUILD
INNOVATION IN TOUGH
TIMES
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When there is economic uncertainty and all of the business world is
uneasy about the landscape of the near future, focusing on and
increasing your innovation process can help your organization to
increase its competitive advantage.
Becoming an innovation leader in tough times may not seem like the
most ideal solution, but by taking advantage of the relatively small
amount of ground that you will lose in a depressed economy will
position your company for explosive growth during the coming boom.
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At the very least your organization will be able to weather the storm of
any further downturn, by innovating solutions to any of the problems or
challenges that arise.
While it is not easy to make the decision to focus on innovation when
the rest of the industry is focused on cutting costs and making their
organizations more efficient, here are 3 ways that you can build
innovation in tough times to weather the storm and position your
company for success.
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1. UNDERSTAND WHAT A GOOD INNOVATION
PROCESS LOOKS LIKE
Take the time to look across and study the innovation models of other
companies, even in other industries.
Find out what has worked for them and then start to develop an ideal
scenario for your own innovation process.
Take the time to analyze the innovation processes that are proving
successful even when tested by the tough times and then extract the
most valuable components to build your own.
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2. INNOVATE WITH VALUE INTENT
Make sure that you align the innovation process of your company with
your mission or value proposition for your customers.
Having an innovation process that can produces great ideas is only as
valuable as their success in implementation.
By keeping them focused on helping the customer succeed or providing
the most value, you will make sure that you only spend resources-that
can be even more scarce in tough times-on testing the innovations that
align with your bigger goal.
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3. CREATE SENSE OF OWNERSHIP AND ENABLE
COLLABORATION
Leveraging the creative powers of your entire organization and network
as forms of inputs for your innovation process, can help to make your
ideas more effective, and much less costly.
By empowering your employees and even customers to contribute to
your innovative process you are able to use a bank of creativity that far
exceeds the capabilities of any small innovation team. Give them a
reason to contribute and then collect as many ideas as you can.
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Using these three ways to increase innovation you can ensure that you
are competitive during tough times and poised for explosive growth
when the economy turns back around.
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8. GROWING BUSINESS WITH INNOVATION
For additional information about Business Innovation
please visit www.InnovationGrow.com