Why Innovation is More Important Today Than Ever Before!
Business Week just issued its report on “The 25 Most Innovative Companies” for 2009 in April. I found this article particularly interesting because innovation is something that I continue to pound home to entrepreneurs and business professionals on a daily basis. It is probably one of the most important elements that will drive business out of its current slump.
Customers are smarter today than ever before. They recognize a marketing/selling spin faster than you can say “RING ME UP”. They are savvy enough to cross comparison shop to get the best deal but are willing to spend more of their dollars with people they like and brands they feel loyal to. However, much of that traditional customer behavior is changing. People want something new. They want creativity. They want “ddifferent” in a world where everything has turned into a homogenized bland pudding. People are B-O-R-E-D with the same ole same ole and are less likely to buy yet another version of the same old thing.
A healthy profitable business can be reflected in the universal law of nature. The law of nature says that it is a constant generation and regeneration to create new life at all times. Currently in our culture we are being asked to be more resourceful: to look at new ways and means to do things. But not how you may initially think.
Often times businesses take a cut-back and slash and burn philosophy during harsh economic times. Samuel Palmisana the CEO of IBM offers: “Some may be tempted to hunker down, to scale back their investments in innovation. While that might make sense during a cyclical downturn, it’s a mistake when you’re going through a major shift in the global economy.”
We are being asked to be contrarians at the moment. To embrace the creative, innovative part of our selves, which is our higher self, and create new businesses, industries and opportunities. Without doing so, business will not continue to grow (generate) and replace all that has gone by the way side (regenerate). This is why innovation is so critical at the moment.
You might be interested to know that the perennial leaders of this survey, Apple & Google, trailed by a little more than 30% less than the previous years survey votes. Why? They are viewed as merely improving existing products, rather than launching anything new and innovative into the market. It just goes to show, even if your execution is flawless and you’ve always been a leader it doesn’t mean that you’ll always be there. We are all being asked to stretch ourselves in whatever aspect of business we operate within. Corporations and entrepreneurs a like are all in need of the same prescription: innovate in order to be relevant.
By embracing and maximizing our creative intelligence to build a new foundation in business today we are in alignment with universal laws. In the case of business, it’s all about the law of nature: the constant generation and regeneration of life. Without doing so, commerce continues to be stagnant and less than abundant.
© 2009 NMS Communications, LLC All Rights Reserve