Stakeholders: Unlocking the Door of Innovation

Research shows that innovation will be essential for small businesses over the next decade as businesses recover from recent economic hurdles.  Attempting to seize new opportunities and improve competitive positions, business leaders are looking for innovative solutions.   

Where does innovation come from?  One approach is to look to the leading edge to see what others are doing.  A second approach is to capture ideas as they spring up as seeds of innovation from within the organization.  But there has to be a catalyst, a framework, a discussion or something to generate those ideas.  What is that?    As a professional consultant in the role of building business sustainability, the answer is stakeholder engagement.    Innovative ideas do not have to come from any one source.  They can generate from within the company at the ground level, from the customers you service, or your suppliers.  Often employees have the information and ideas to make a significant but are limited by the structures of the organization.  One key to success is to create a corporate culture that encourages and rewards innovation at all levels internal to the organization as well as external to the company.   Click here to continue reading.

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