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Product is the most tangible, but innovation is may include many fields: the services, business processes like sales and marketing, and business models.

2. Business innovation is NOT just techy

Technological innovation is a part of the total innovation discipline. It focuses specifically on technology and how to embody it successfully in products, services and processes. Technology can act as a building block to the research, as well as design, development, sales and marketing innovation.

3. Business innovation is NOT just for big companies

Not only big companies have the ability to innovate. Oftentimes big companies become too large and bureaucratic, so it is easier for them to buy startups that are innovating the sector they are interested in than trying to turn their existing business upside down.

4. Business innovation is NOT a person (or even department)

A company is innovative as a whole or it is not. Innovation requires the collaboration of many people from different areas and levels within the company, it counts for idea brainstorming as well as launching new projects. It is more connected to organisational culture than to business operations.

5. Business innovation is NOT a one-time thing

Innovation is hard, solid and continuous work. Extended work following a method, knowing what we’re doing and towards where we´re going.

6. Business innovation is NOT doing something new in the company

Just because you are doing something new in your company doesn’t mean you innovate. To innovate is to create something NEW in your market, or industry, that adds more value to the users. Preferably new in an international context, because if it already exists in different countries, can’t be called real innovation.

7. Business innovation is NOT expensive

It doesn’t need to be expensive. Strategic innovation focuses on what businesses already have. And can be hidden in expenses you already make.

8. Business innovation is NOT just for creative people

Innovation is for everybody because we are all creative. We all are creatine but our skill can be less or more developed, depending on how much we use it.

9. Business innovation is NOT improvement itself

To innovate is to create something new. People declare themselves as the most innovative while all they do is make little improvements. They do a rebranding, change their logo, slogan, and company values. They settle with the first idea they got, but innovation is more demanding than that.

10. Business innovation does NOT come with the flow

We see people trying to make something out of nothing, waiting for the big idea to come. Innovation is a process that embraces influence. Look things up, go deeper, question things and force yourself to be creative on daily basis.

Do you want to see how innovation can help to grow your business and what to do to avoid putting money down to drain? Leave an email. We will reach out to you, to schedule a private call with you.

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    Patrycja Franczak

    Author Patrycja Franczak

    She runs company where she cooperates with many fashion companies helping them to strategically define, move toward and manage the future amid the challenges of uncertainty and change - to improve business performance and manage change.

    More posts by Patrycja Franczak

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