The Importance Of Innovation

1264 Words 6 Pages
In a contemporary market, saturated with increasingly advanced products and ideas, business owners and managers will do well to ensure that their products and processes remain in the front of the innovation curve. Simply having an innovative idea, however, is insufficient in creating an atmosphere that encourages and breeds this kind of growth. Of utmost importance is ensuring that employees have the necessary tools, environment, and freedom to pursue endeavors that ultimately lead to innovation in their respective industries. Although innovation can occur at any time, under any number of circumstances, whether it be from necessity or ease, organizational processes and infrastructure can go a long way to help the process move forward. Three …show more content…
Indeed the economic recession, in late 2008, pushed founders Sergey Brin and Larry Page to rethink the future of Google in a modern marketplace (Finkle, 2012). As innovators themselves, Brin and Page sought to build an organizational structure that would encourage innovation, and therefore, company growth. They accomplished this goal through two major archetypes; diversity in the workforce, and breaking down the traditional corporate bureaucracy (Finkle, 2012). These two principals ensure that the organization is saturated with a wide range of ideas, and that power is distributed evenly throughout the company; giving value to each individual. Although these factors are not a complete recipe for innovation, they are certainly some of the key ingredients. Google does not claim a monopoly on contemporary innovation, however. There exists a company led by a man, who created PayPal, an entire car company, privatized space travel, and affordable solar energy storage, all before his 45th birthday. Many revere Elon Musk, CEO of Tesla Motors, as the embodiment of innovation in the 21st century. An empire, however, can ill-afford to rest its entire fate on the shoulders of one man, and often times the vision of one man is supported by the innovation of …show more content…
Diversity in the workplace, continued education, and multi-directional communication are integral to a company’s ability to get new ideas off the ground. Transcending simple human resources strategy, these three concepts encourage growth at the individual, group, and company level. The pursuit of innovation, therefore, becomes more about self-improvement than corporate advancement. Worth special mention is the concept of continued education. Personal and professional growth and development are key to reciprocating the culture of a successful company, and ensuring that future generations of employees are equally equipped and encouraged to pursue dynamic ideas to enrich and advance the agenda of a

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