Innovation enables an organization to stand out from other organizations which are its competitors. Offering something unique to customers will make them chose to buy from you and not the other organizations. An instance is when your company manufactures motor vehicles and there are other organizations around which produce the same (Dawson and Andriopoulos, 2014). Designing motor vehicles that are electrically charged instead of using fuel will make your brand unique. This will increase revenue since the customers will choose the innovative organization.
Innovative organizations generally attract the best talent. Innovative people are interested in working with companies that have a history of creating new things. Such people don’t like being associated with companies that are static because they won’t get a chance to exploit their talent. A culture of innovation is therefore needed to attract the talented workers. When an innovative worker meets an innovative organization, there is more growth in the organization and it will reach a new level.
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Currently, the workforce is becoming more mobile and social. This trend will definitely continue. Organizations should, therefore, become innovative by adapting the new technology. Social media platform is a part of today’s business culture. Consumers and young workers are skilled to use these tools (Dawson and Andriopoulos, 2014). Organizations, therefore, should be in a position to deal with these pressures by being innovative.
Innovative companies have greater chances of meeting customer needs since they are changing constantly. Customers today may need exactly what you produce, for example, light bulbs. The next day they might need light bulbs that are able to save energy and light the house even when there is no power. It is important to question what would happen if you can’t manufacture such bulbs. Innovative companies are therefore able to predict changes in the market and meet the customer needs.
References
Dawson, P., & Andriopoulos, C. (2014). Managing change, creativity, and innovation . Sage. Retrieved from: https://www.taylorfrancis.com/books/9781317601364
