Maybe you are still sceptical about the importance of innovation in your business. Or maybe you are still looking for ways to persuade your employer about its importance. In any case, when it comes down to finding reasons for introducing or maintaining innovation in a company, there are two ways to look at it: either from a macro or from a micro perspective.

 

 

First of all, innovation plays an important role in our society (macro perspective). It explains a major part of the economic growth from the past decades, it determines the future of jobs and how they will develop over time and not only did innovation increase our well-being, it also reduced sickness, poverty and hunger. Moreover, we are all aware of its influence on communication and educational accessibility, let alone its importance for environmental sustainability.

 

However, it is probably of more interest to you to know how new ideas can benefit your own company (micro perspective):

·        Competitive Advantage

·        Maximise Return On Investment

·        Increased productivity

·        Positive impact on company culture

 

Challenges for innovation

Although the benefits of innovation are clear, there is no such thing as an easy road to success. Introducing innovation in your company can often be a challenge.

·        Lack of follow-through

·        Lack of time, budget and resources

·        Company Culture

·        Uncertainty

We need to accept uncertainty and learn to make decisions with the limited information we have. Because there is one thing even worse than uncertainty, which is knowing that failure to innovate will eventually destroy your business no matter how strong it might seem today.

 

Project website: https://www.intrared.eu/en/

Contact person: zeljka.kelkedi@gzs.si