WHAT STATUS QUO?
According to IBM, there are no more static or predictable patterns in business anymore: Continuous change is the new norm. To stay relevant in a fast-changing world, business leaders must continually change and innovate as well.
Consider that every year, Booz & Company studies hundreds of the world’s top innovators to determine their competitive edge. Strikingly, market leaders’ top source of competitive advantage is that they simply provide workers with better platforms for sharing their insights, and translating these ideas into action. These businesses’ leading source of innovative new ideas may also surprise you: Time and again, studies show it’s simply listening to customers—again, an area where front-line employees are best poised to spot rising opportunities or threats.
Clearly, corporate culture plays a pivotal role in driving innovation. Following are seven new habits that leading organizations say it’s vital to embrace to prepare yours to stay at the forefront of fast-changing and highly-unpredictable business environments:
1. CREATE A CULTURE OF TRUST AND ENCOURAGE EMPLOYEES TO SPEAK UP
Leading organizations empower workers and reward them for bringing potential opportunities and challenges to their attention. Front-line employees are often an enterprise’s most informed audience — to create and sustain competitive advantage, provide them the tools they need to translate ideas into action.
2. CONSTANTLY RETHINK BUSINESS PRACTICES
Is “the way it’s always been done” still the best way to do it? Like competitors, market leaders are always asking themselves this question.
3. FREELY COLLABORATE ACROSS THE ORGANIZATION
Flatten lines of communication and allow information, insights and support to flow throughout your enterprise. The more readily you can align tools, talent and resources toward common goals, the more readily you can foster innovation.
Source: CNBC | Scott Steinberg, author of “Make Change Work for You”