With innovation being one of the hardest things for a company to quantify in dollars against the bottom line, it may be one of the first things that they cut from the budget.

1. ARE YOU AN INNOVATION
SUCKER OR WINNER
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With the recent global economic troubles companies are watching what
they spend their time and money on in an attempt to balance the
budget and sustain business.
With innovation being one of the hardest things for a company to
quantify in dollars against the bottom line, it may be one of the first
things that they cut from the budget. Having a strong innovation
process is one way that a company can retain the innovation while
having a handle on the cost versus benefit, but most companies don’t
know how to accomplish this feat.
When you cut out innovation you are really cutting out the future
competitive advantage in a feeble attempt to stay afloat in the present;
without regard for the future position of the company.
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As the cash and budgets tighten up companies tend to go back to basics
and focus on the tangible business operations.
Finding ways to reduce costs and increase productivity with the current
resources is a great short term fix but innovation is the key to long term
sustainability.
Companies need to rely on the basics while they use their innovative
process to solve the bigger problems and put the company in a better
position not only in the future but in the present.
It’s great to have a long-term strategy but you have to be in business in
order to realize this strategy, no matter how great it may be.
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Using a great innovation process can be the key to solving these short-
term problems while keeping the mechanism for long-term success.
Instead of focusing the innovation energy and process on competitive
advantages it can be refocused on solving the immediate problems such
as budget and inefficient workflow processes.
By using a great innovation process that utilizes the creative force of the
whole organization you can find a solution to any problem or potential
problem that the company faces.
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Keeping the innovation process focused on adding value for the
customer is the best use after the business basics have been stabilized.
Streamlining the innovation process will allow you to juggle the
problems from all areas while giving you actionable solutions and ideas
that can be tested and implemented.
Looking at the innovation process as the most valuable tool that needs
to be upgraded all the time will allow you to solve even the toughest
difficulties that can face your company.
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The fundamentals of business will never change but how you deliver
those fundamentals is rapidly changing as the global business climate
changes.
Being able to adapt to these changes can be made easier by using a
great innovation process.
Finding customers more easily and providing more value are benefits of
a great innovation process. Providing customers with the utmost value
is a great way to have them want to return to do more business with
you, and innovation can be the tool that you use to ensure this.
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Just when you think that you should cut the funding or resources to the
innovation process, in all likelihood you should be doubling your
resources related to the innovation process and then innovate your way
out of the problem.
No problem is impossible and you can use the innovation process to
ensure that you can not only solve the problem but that you have a tool
to solve any problem that may arise in the future. Be an innovation
winner and invest in this amazing problem solving tool.
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8. GROWING BUSINESS WITH INNOVATION
For additional information about Business Innovation
please visit www.InnovationGrow.com