Baker Tilly’s e-book, Innovation culture, reveals strategies and key considerations in creating something new, adding value, improving performance and fueling future success with a culture of innovation.
It’s human nature to continually think of new ways to do things. In its simplest form, innovation occurs when a company or organization does something new or different that creates value.
Innovation takes time and resources. If an organization has a dollar or an hour to spend, they will spend it servicing a customer, client or constituent. That’s a “today” goal, while innovation is about the future. The focus on near-term profitability and growth or servicing immediate client or constituent needs may distract an organization from realizing that innovation will fuel business growth or an organization’s long-term mission. When organizations allow employees at all levels to be stakeholders in the decision-making process, they foster a culture of innovation.
To have an innovation mindset, organizations must recognize the need for change and be committed to supporting change through action. Talent development and data maturity are two primary initiatives that organizations can adopt to start on their innovation journey.