My friends at Fast Company magazine just released their list of 50 most innovative companies, which included some interesting insights we can all benefit from.
The first is that 33 of last year's winners did NOT make it onto this year's list. The insight? Innovation (and the relating benefits) dies if it is not consistently nurtured/supported. Innovation can command price premiums and leverage market share, but only if you "prime the pump" first with a culture that supports it. Use it or lose it. Ouch.
Secondly, the consistent success stories (like our benchmarks Disney, Google, Apple, Ideo, etc.) focus on the same proven strategies and tactics that translate to consistent external brand and business results - even in this hyper-challenging economic time.
Taking the right action when the competition is cowering and waiting for some magic dust to save them, achieves more than a head start. It generates employee engagement, inspired heroism, and efficiencies inside the organization, and differentiation, customer loyalty, and brand buzz outside the organization...all of which captures the ever-elusive competitive edge professionals everywhere want but miss because they refuse to focus on what really works.
It's sad to watch companies stagnate and wither because they are more committed to their policies and procedures than to their employee or customer experiences. By resolving to be innovative and connecting with their customers - both the external customers and the internal (employees) customers - any business remains relevant, dynamic, and growing. According to world-class benchmark companies, this is an exciting and rewarding position to be in.
We all make choices every day. The question is: will it result in "rewards" or in "pain"?
In other words: Are you going to use it, or lose it?
Think about it...but more importantly, act on it...today!
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