INNOVATIVE IDEAS AS DRIVERS FOR LONG-TERM SUCCESS
There is no such thing as innovative ideas. According to Wikipedia, an idea is only an innovation when it is implemented in a product and is in demand on the market. But this expression is often found in colloquial language, so what does it mean?
In general terms, it can be said that ideas are innovative when they challenge an existing product or technology with the aim of improving it. This can be a completely new idea that has the potential to solve an existing problem in a different way or just a substantial improvement.
To be successful as a company in the long term, it is not enough to rely on existing products. There is too great a risk that the demand for them will be saturated at some point. Product innovation is therefore important for all companies. This is the only way they can survive in the market in the long term. Innovative ideas for new products and technologies can be found in different ways. Technology scouting and trend analyses are two of the main ways. Here, the market is constantly scanned for new technological developments. Or specifically for changes in society and the behaviour of the target group. As soon as changes that have an impact on the company become apparent, solutions are needed on how best to meet the changing demands of the customers. An analysis and concept development for new products or product improvements follows.
High innovative power through creative employees
However, innovative ideas do not only develop under pressure from outside. Such as changes in the behaviour of the target group or new legal framework conditions. In most cases, innovations are driven by employees and arise within the company itself. The employees deal with the situation of the company. For example, with regard to market position and competition, and are interested in taking the company forward.
An important factor for high innovative strength in companies is therefore a certain corporate culture. Namely one that promotes creativity and the development of innovative ideas by the employees. Creativity and the associated desire to advance the company arises when employees feel that their ideas can make a difference and are taken seriously.
In order to be successful as a company in the long term and to develop promising business ideas, it is therefore essential to empower employees. In this way, employees are motivated to contribute to the success of the company and to contribute their ideas for product innovation.
Stay innovative with QUO
Thanks to more than 500 completed innovation projects in various industries we have a lot of experience and know-how. QUO has been able to support numerous companies in their product innovation. Let us convince you of our competence in a free, non-binding initial consultation. You can reach us by phone at +41 44 307 40 60 or by email at firstname.lastname@example.org. Our experts are always available for questions and further information.