517 Magazine Days of Giveaways
  • Home
  • Business
  • Five surefire ways to kill your company’s innovation

Five surefire ways to kill your company’s innovation

Innovation is a fleeting concept that stumps many companies. Why? Because it takes great effort, time and research. Most ideas never go beyond being written down in brainstorm s…

Innovation is a fleeting concept that stumps many companies. Why? Because it takes great effort, time and research. Most ideas never go beyond being written down in brainstorm sessions. In fact, the odds of a new product idea coming to fruition are less than 4 percent.

Steven L. Blue, president and CEO of Miller Ingenuity, offered some great perspective on the topic with five surefire ways to kill your company’s Innovation. Here are some eye-opening summations on what he has to say:

Don’t make innovation a top priority and an “all-hands” job requirement.

“Many CEOs want innovation, but only after ‘the real work’ gets done. Here is a news flash: If you want to survive, you had better make innovation ‘the real work.’ Make it a top priority for everyone in the company, not just the engineering department.”

Don’t give people the training they need to innovate.

“When you make everyone responsible for innovation, it can be very scary. People will be afraid they aren’t up to the job because they are ‘not creative.’  Studies have debunked the myth that you are either born an Einstein or you’re not. The truth is everyone can be creative if they are trained in the principles of creativity.”

Don’t give people the time to innovate.

“It is all well and good to expect innovation but not give people the time and space to do it. If you don’t do this, employees will default to the tasks at hand – making the doughnuts. After all, they get paid to make the doughnuts. They are comfortable making the doughnuts. Unless you give them permission to do otherwise, that is all they will do.”

Don’t give people a place to innovate.

“I built what I call a ‘Google-like campus in a factory,’ which is a high-tech space designed to facilitate innovation. Our employees named it the Creation Station. My employees are welcome to gather there whenever they want to. … Some people will tell you such a space is a waste of money and it has no (return on investment). … To that I say you have the wrong employees.  So, get the right ones.”

Don’t take risks to innovate.

“Without risk, there can be no innovation. The world of innovation is murky and uncertain. You must give people your permission to fail; otherwise, they won’t even try. I tell CEOs all the time, don’t take risks – take bigrisks. Little risks have puny returns. Little risks don’t motivate people to do extraordinary things.”

For Blue’s complete article, click here.  

 

 

 

 

Related

Entrepreneurial Award CoverEntrepreneurial Award Cover

2020 Greater Lansing Entrepreneurial Awards Winners

Here are your 2020 Entrepreneurial Award Winners!
Entrepreneurial Award CoverEntrepreneurial Award Cover

2020 Entrepreneur of the Year: Ngage Management

Meet the winner of the 2020 Entrepreneur of the Year, Ngage Management
Entrepreneurial Award CoverEntrepreneurial Award Cover

Leadership Award: Amanda Hayhoe-Kruger

Meet the winner of the Leadership Award, Amanda Hayhoe-Kruger
Drawn Employed PeopleDrawn Employed People

A Unique Face in the Crowd

Because local entrepreneurs are more likely to not only work in the community but live and play there also, they have…
Job Fair ComputerJob Fair Computer

Hiring Goes on Through Virtual Job Fairs

CAMW!’s Carrie Rosingana thinks online job fair formats could very well survive the pandemic.

Connect

517 Facebook
517 Instagram
517 Linkedin

Contact

517.203.3333

221 W. Saginaw St.
Lansing MI, 48933

All Rights Reserved 517 Business and Lifestyle Magazine. Website designed and developed by M3 Group