Innovation 102
Suha Zehl, CMB?, AMP, CCP, CPM
Tech Whisperer | Data Nerd | Helping organizations scale through AI-powered Technology | Fractional CxO | Board Member | Speaker | Author
The cost of missed innovation
In the last blog, we talked about innovation, what it is, and why companies need to innovate. Now let's dive deeper and look at the flip side.
Everyone talks about the ROI of innovation but few talk about the cost of not innovating!
We understand taking risks can be scary, but so can ?????? taking them! What r?i?s?k? is your organization taking by failing to adapt, to change, ???? ?????????????????
?? Becoming ???????????????????? to your customers?
?? ?????????????? behind your competition?
?? ?????????????????? of your top talent?
?? ???????? company culture?
?? A ?????????? mindset?
?? ???????????? opportunities?
Innovation is not just about ?????????????????? (myth #1)! Innovation comes from Latin roots, meaning "make new, alter, discover". It permeates every facet of your organization; and a reluctance to innovate can ?????????? a business.
领英推荐
Think Blockbuster! Think Toys-R-Us!! I know, we mentioned them last time.
??????’?? ?????? ???? ?????????? ??????????.
And the beauty of innovation? You do not have to do everything, all at once.
This is exactly where we see many organizations fail. They know they need to innovate, to be different. BUT they think they have to do everything, all at once (myth #2). And unless you are one of the top 5 or 10 mortgage lenders, with unlimited resources and budgets, that is typically not an option.
So you balk. You postpone. You don't think the time is right.
What you may not understand is that there is no "right time"; there is just time and what you choose to do with it.
What if, instead, you start to think of innovation as an iterative process? Once you've come up with your innovation strategy and roadmap, prioritize your projects and then incrementally innovate: introduce a new process or implement a new platform; make sure you allocate enough time for testing, training, and most importantly, change management to drive user adoption.
Evaluate what happened. Adapt & adjust your priorities. "Innovate". Repeat.
It really can be as simple as that.
Ready to talk? Reach out to us today to start the conversation.
Yes! Being able to imagine the alternative paths we never reach is so valuable in decision making, Suha Zehl ?!!!
Chief Lending Officer at UFCU | Independent Board Director | Audit Committee Member
3 年Innovate or die. Very timely and well done article Suha.
Is your business a leading indicator or lagging indicator of the change that is coming? #innovation - Suha Zehl ?you are leading the charge in this arena. So grateful to be working alongside you. Cheers!