Harvest great ideas from your company’s best assets
- December 25, 2019
- Posted by: admin
- Category: Innovation
Many businesses, large and small, have a huge source of great ideas that can help them improve, innovate, and grow, and yet so many of these companies never think of using this amazing corporate asset. What is this highly valuable asset? Its own people. Many good companies say “Given that we are all capable of contributing new ideas, the question becomes how do you successfully generate, capture, process and implement ideas?” Becoming an organization capable of answering this question can benefit in a number of ways:
- Growth through innovation/creativity:
Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a learning company are always keen to tap into potential of the employees.
- Increased profits:
Many large corporations have experienced an increase in profits due to savings in operating costs as well as sales from new products, services and ventures.
Employee morale is boosted that converts in easily attracting top talent. Companies that are keen to innovate attract the right kind of employees end up being great companies.
- Higher business values:
The link between profits and business value means that the moment a corporation creates a new sustainable level of profit, the business value is adjusted accordingly.
- Lower staff turnover:
This, combined with the culture that must exist for innovation and creativity to flourish, means that new employees will be attracted to the organisation.
- Learning organization:
When companies innovate prepare a culture of generating new ideas . It has been observed most of these companies become a learning organization. Due to ideas being brainstormed most employees keep themselves updated and are more engaged while going to work. A learning organization automatically boosts employee productivity.