What Lies Beneath - DNA of an Innovative Company

‘Innovation’ – is an overused and very subjective term at times nowadays. We use this word without caution. Without understanding. We assume that anything different…anything new or anything that is not mainstream qualifies as ‘innovative’.  

If you see around, past few years a sudden emergence of new-age internet models (OTT) being a game-changer in ‘consumerism’ creating a ground-breaking customer experience and very high engagement scores, resulting in skyrocketing valuations and market acquisitions. This is happening because of the product revolution approach. These disruptive companies are been able to change the way things are done, products are used, and the way things are experienced.

And this kind of revolutionary evolution does not emerge when only one person thinks differently. It emerges when the entire organization, a singular living breathing unit, develops this mindset of doing something new. It is when you not only think differently but also when you behave differently then you can call yourself innovative.  

So, what does the DNA of an innovative company look like? On the surface, things might seem quite the usual, but dig a little deeper and you’ll see that it’s the subtleties that make the big difference. 

The Inventor Mindset   

“If you believe the world can change, then it’s not a stretch to believe you can be a part of it.”  - Jeff Bezos, CEO of Amazon.

At the end of the day, it is the people who make an organization what it is. An innovative company not only has a large chunk of people with an innovative mindset, working consistently towards developing this creative intelligence in people. Teams in such an organization are future-focused and forward-looking. They are not only focused on completing the task at hand but are equally focused on identifying better ways of doing things... rather improving things. These people are problem solvers and not do-as-directed types.  

Hal Gregersen, a Professor at Insead says that when someone “…acts differently, asks lots of questions, observes like an anthropologist, experiments constantly, networks for new ideas, they’re likely to get incredibly insightful ideas about new businesses, new products, new services, breakthrough processes: things that will make a difference for any company or country.” 

And an innovative organization gives them the support that they need. 

Innovation – The Processes 

Innovation can be within the reach of anyone if the environment is conducive. Innovation is a genetic component and is present in each one of us. Then why are some innovative and some not? This is because the environment matters. Take the most innovative person and put him/her in an organization that does not encourage asking questions, or challenging notions or status quo and believes that it is perfect, then even the most innovative mind would wither. Just like a child needs a nurturing environment that helps creativity and curiosity blossom, a working environment must be the same.  

Innovative organizations are not restrictive in nature. They will not only encourage but will enable their workforce to try out their new ideas and experiment for success. And they will also give their employees the chance to fail - because failing is an important contributor to success. You cannot call yourself innovative unless you allow your workforce to fail, get up and then try again…and then keep trying till they are successful in achieving what they had set to do. 

Truly innovative companies make sure that innovation does not become yet another stovepipe in the organization. These companies focus on cross-functional creativity and trust and encourage all employees to think like intrapreneurs. They provide the structure that enables this kind of intrapreneurship and gives recognition to innovative attempts. These companies understand that great ideas need to be put to work. You cannot wait for perfection. Innovative companies, thus, encourage everyone to put their ideas to test, fail, learn from their failures, and then try again. And while an idea might come from an individual, these companies recognize that it is cross-functional creativity, skills, and collaboration that bring these innovative ideas to life.  

We feel excited to see that we have been able to check all these boxes with our product start-up - Rubiscape. The testament of this is our recently launched innovative platform “Rubiscape”. It originated from our Research lab, through the combined innovation, thinking, and efforts of some of the brightest minds in our company, the industry, and academia.  

Would love to have your views..