Diverse innovation team. IXL Center, Sao Paulo, Brazil.
For Successful Innovation in the Long Term, Find Ways to Integrate New Initiatives with Existing Systems
Companies need innovation because they all need new products, new business models and new value propositions – which offer novel opportunities for growth as well as some unanticipated challenges. Innovation does require change and because of that innovation initiatives are similar to change initiatives within a company.
At the same time, if any company is going to remain a company (i.e., remain largely intact for some number of years), there are long-standing systems and relationships it has to maintain in a stable manner. Internally, the executives and employees and the company culture they form can’t be completely changed and overturned every time a new business concept might be pursued. Externally, there are partners and suppliers whose skills, resources and good will are often needed to be available in a predictable and steady manner. This need to balance between the new and the old means that, while change is inevitable, repeated revolutionary upheaval is impractical and unsustainable.