Understanding the Issues

why should we innovate?

Thinking about managing innovation raises three key issues. First, why should we innovate? Innovation always involves risks, and the rewards are not always obvious.

Second, what can we change? You need to understand the options for innovation before you can make decisions on where to focus your efforts. And finally, how can we make it happen?

• Ideas for improving an aspect of your operation are the starting point for innovation.
• Your organization benefits when you implement your idea by making it a practical reality.
• Innovation is the result when ideas and implementation are achieved.

ACTION POINT: Understand the issues involved with innovation.