Building a Culture of Innovation

Innovation is the discipline of serving needs in new ways that create value. It is a core capability that allows firms to sustain competitive advantage and grow. It is a skill that can be learned, practiced and mastered. Innovation can be made a part of a firm’s culture, but it requires openness to disciplined experimentation and uncertainty. It requires looking at customers and markets in new ways and an ability to simultaneously scale today’s business model while directing resources to discover tomorrow’s. Most of all, innovation requires a willingness to challenge the assumptions that may have made the company successful in the first place.

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