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SpinDistribute.com Article Directory

The following article was published in our article directory on February 16, 2017.
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Innovation and Its Importance

Article Category: Business

Author Name: Theodore Henderson

You hear the term 'innovation' everywhere, and are made to believe of its importance. The usual definition of innovation is about providing ideas out of the blue, leading to great discoveries and achievements; however, there's more to it than that.
Get to know the truth behind innovation.

What Is Innovation?
Innovation is not only a new device, idea or method, but also the process of finding out new ways to do things. It can also pertain to modifying business models and adjusting to the needed changes to achieve better products and services.
For an idea to be innovative, it has to be replicable without being too costly, plus, it has to resolve a particular need. More so, innovation is achieved for providing something original and is seen to be more effective – leading to the idea of breaking in to society.
Innovation is likened to an Easter egg hunt; you don't look at the usual places but you tend to go for those areas you haven't searched in. When you're being innovative, looking outside the box isn't too rare to happen.

Why Is Innovation Important
Innovation is vital in a workplace because it gives companies an edge in penetrating markets faster. It gives companies ideas on how to be involved with developing markets, which provides bigger opportunities especially in rich countries.
Innovation can help you come up with concepts never heard before, plus the proactiveness and the risky attitude to get things done. When a company has an innovative culture, it'll be easy for it to grow. Tried and tested methods may be reliable, but trying out new things will be a worthwhile experiment as well.

What It Is, and What It's Not
There are various myths surrounding innovation. One of those myths is about innovation only revolving around new products – that's not true. Yes, it's essential to come up with new products but it shouldn't be limited to that. Innovation can also pertain to new services, business models, processes, and functions. Companies such as Toyota, Google, Wal-Mart and Starbucks have implemented game-changing innovations that led to more success for them.
Innovation is not for geniuses; innovative ideas can't be coerced out of people like it's something that can instantly come to mind. That's why innovative ideas often come out of brainstorming sessions – there has to be a catalyst, or something has to push the ideas out of one's brain.
To add, innovation involves people. It's all about a connection – an interaction between one person to the other, or a person to a group. This connection is done to share learning, opportunities and even problems.

Bottom Line
Being innovative should always be a part of one's tactics; with innovative thinking, problems can be solved differently and strategically.
The right innovative techniques help you save precious time and money, plus give you a competitive lead in expanding your business and adapting to changes and challenges you might face.
Different ideas will come from different minds; don't be afraid to surround yourself with people who have ideas that differ from yours. You'll come up with diverse ideas that you can pool to achieve a different approach from what you were always doing – and that definitely is what you call motivation.

Keywords: Innovation, innovation in business, innovation in the workplace, cultivating innovation in the workplace, innovation and creativity in the workplace, innovation and diversity in the workplace, innovation and entrepreneurship, innovation and older workers, innovation and baby boomers, innovation and millennials, Leadership and innovation

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