The modern business environment is now changing at an unprecedented rate and knowledge and innovation are now crucial ingredients to a business success. Some of the most recent successful business ideas have come from simply being willing to embrace change and disrupt the status quo.
Take technology disrupters Uber and Sendle. The innovators behind these companies injected some much-needed energy and innovation into two outdated business models – the taxi industry and small business parcel delivery. In doing so, they created businesses that finally gave customers what they’d never had in those industries – a competitive choice.
Then there are businesses that refuse to embrace change because “that’s the way we’ve always done things”. Sadly, it’s only a matter of time before they get left behind.
Do We Need to Be Disrupters?
So, does this mean we need to develop disruptive products or services to embrace innovation and change? It does not. Most of us don’t have the notions, skills, resources or inclination to develop disruptive technology, and besides, we’re busy procuring customers, managing employees and chasing owed monies, but these facets of business and personality cannot get in the way of embracing change, innovation and knowledge in your business.
Innovation in Business
We must innovate, and even the most reluctant of us can do it incrementally through assimilation. Assimilation is a measured process of assessing and absorbing the best innovations from whatever the source, for example the tradesman who adopts technology in their business systems, will prevail over their competition that are using more traditional methods. The innovations themselves may not be unique to us, but our collections of innovations will be. Over time, they will increasingly separate us from both our competition and obsolescence.
So, from this we can determine that innovation through listening and staying abreast of industry development is crucial, keeping an open mind and that there are abundant sources of good ideas, and the more we pay attention, the more they will appear.
Where to from Here?
In conclusion, innovation through assimilation begins with us. We must accept, decide, listen and act. Accept that innovation is imperative, decide to create an innovative culture, listen for the ideas swirling around us, and act to assimilate the good ones through incremental change. The more we participate, the more refined our judgment will become.