What drives innovation? Any business major or company exec knows what a SWOT analysis is. A simple internal brainstorming session can produce a laundry list of strengths, weaknesses, and threats, but what about those opportunities? Do you know what they are? Do you know how to obtain them? Are they attainable? Discovering opportunities often requires a deep understanding of both the internal (company) and external (market/industry) environments.
“Innovation is taking two things that already exist and putting them together in a new way.”
The definition of innovation is the action or process of innovating. Well, duh! Ok, so what does innovating mean? To make changes in something established, especially by introducing new methods, ideas, or products. Ok, so now we’re talking – making changes and introducing something new. In a process lab, for instance, Readco’s pilot plant; old or ineffectual processes must be continually tested, changed, modified, and restructured until a process arises that is new and better then what came before.
“Innovation comes from the producer – not from the customer.”
W. Edwards Deming
Do you know what your company’s core capabilities are? Are you playing to your strengths or are you catering to external influence. There’s a good chance that what scares you, also scares your competition. How do you turn you fears into challenges and then those challenges into opportunity? Can you really make lemonade with only lemons?
“Mindless habitual behavior is the enemy of innovation.”
Rosabeth Moss Kanter
Education and professional development allow employees to not only expand their knowledge base and skills sets, but also shake off the cobwebs, and grease the gears that churn out innovation. Additionally, by constantly working with our customers to solve their process problems, Readco embodies a culture and business model that necessitates innovative thinking.
“Innovation is this amazing intersection between someone’s imagination and the reality in which they live.”