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3 ways to build innovation in tough times
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3 ways to build innovation in tough times

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focusing on and increasing your innovation process can help your organization to increase its competitive advantage.

focusing on and increasing your innovation process can help your organization to increase its competitive advantage.

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  • 1. 3 WAYS TO BUILDINNOVATION IN TOUGHTIMESFor additional information about Innovationplease visit www.InnovationGrow.com
  • 2. www.InnovationGrow.comWhen there is economic uncertainty and all of the business world isuneasy about the landscape of the near future, focusing on andincreasing your innovation process can help your organization toincrease its competitive advantage.Becoming an innovation leader in tough times may not seem like themost ideal solution, but by taking advantage of the relatively smallamount of ground that you will lose in a depressed economy willposition your company for explosive growth during the coming boom.2
  • 3. www.InnovationGrow.comAt the very least your organization will be able to weather the storm ofany further downturn, by innovating solutions to any of the problems orchallenges that arise.While it is not easy to make the decision to focus on innovation whenthe rest of the industry is focused on cutting costs and making theirorganizations more efficient, here are 3 ways that you can buildinnovation in tough times to weather the storm and position yourcompany for success.3
  • 4. www.InnovationGrow.com1. UNDERSTAND WHAT A GOOD INNOVATIONPROCESS LOOKS LIKETake the time to look across and study the innovation models of othercompanies, even in other industries.Find out what has worked for them and then start to develop an idealscenario for your own innovation process.Take the time to analyze the innovation processes that are provingsuccessful even when tested by the tough times and then extract themost valuable components to build your own.4
  • 5. www.InnovationGrow.com2. INNOVATE WITH VALUE INTENTMake sure that you align the innovation process of your company withyour mission or value proposition for your customers.Having an innovation process that can produces great ideas is only asvaluable as their success in implementation.By keeping them focused on helping the customer succeed or providingthe most value, you will make sure that you only spend resources-thatcan be even more scarce in tough times-on testing the innovations thatalign with your bigger goal.5
  • 6. www.InnovationGrow.com3. CREATE SENSE OF OWNERSHIP AND ENABLECOLLABORATIONLeveraging the creative powers of your entire organization and networkas forms of inputs for your innovation process, can help to make yourideas more effective, and much less costly.By empowering your employees and even customers to contribute toyour innovative process you are able to use a bank of creativity that farexceeds the capabilities of any small innovation team. Give them areason to contribute and then collect as many ideas as you can.6
  • 7. www.InnovationGrow.comUsing these three ways to increase innovation you can ensure that youare competitive during tough times and poised for explosive growthwhen the economy turns back around.7
  • 8. GROWING BUSINESS WITH INNOVATIONFor additional information about Business Innovationplease visit www.InnovationGrow.com