“Innovation” is a big deal. It might be a four-syllable word, but it carries a whole lot of meaning within.
Let’s break it down before delving further into the concept of innovation and the sweeping changes it has contributed to the way we think, work and deal with each other while also reflecting on how failure to stay abreast with the latest trends could be your perfect recipe for failure.
Innovation is partly about coming up with new ideas and out of the box solutions. The tricky part here is introducing those new ideas while making sure that the product or service remains as genuine as possible.
With that in mind, true innovation does not necessarily need to be one thing as it can be a group of elements combined together.
Is it a bit too tricky for you?
Let’s take a look at Nokia for example which ruled over the mobile phone industry for over a decade before it crumbled apart.
Where did it all go wrong?
Nokia was extremely hooked on the idea of making its mobile phones the best talking devices ever to the extent it missed out on giving more attention to come up with a new disruption. Repetitive failures to compete in design, hardware, smart features, and commercialization lead the company to its downfall. While other competitors were in a race to come up with new operating systems – turning mobile devices into smarter ones and allowing users to do most tasks using their phones – Nokia was no longer the customers’ favorable choice.
Failure to keep on doing it
While change is sometimes a bit intimidating, it is nowadays a must. Nokia was the best hardware provider but not your favorite software developer. On the other end, competitors were passing with all sorts of flying colors in software and shiny hardware, shifting all the attention to their innovations and resulting in a major acquisition of market share.
Innovation after all is not a one time thing. Taking Apple’s iPhone as an example, the company was slammed for introducing their facial recognition feature last year. Android users said that it was too late for Apple to “copy” other manufacturers, while iPhone users demanded something more authentic, genuine and revolutionary.
It is true that Apple wasn’t the originator of the facial recognition tech on a mobile device. Not surprisingly, Apple is turning out to be the best to ever deploy it; maintaining the company’s innovative edge and competitiveness.
While we may not be able to sum it all up in one blog, we can say innovation is challenging and yet essential to survive the 21st century. So, if you are a business owner, or an owner in the making, be always on the lookout for new innovative ideas, products and services to implement for your business; working smart and learning from those who have done best.
Needless to say, Evolution itself is a revolution. Let’s not fear change, as on the other side is everything we’ve ever wanted!