How to keep YOUR Business “Innovating”
If only I had the foresight to have taken the initiative back then! Does this sound familiar? We have all had times that take us to the “should have, could have or why didn’t I” space. Whilst reflection is worthwhile, it is not an opportunity to beat ourselves up, however an opportunity to learn through better questions. Ask a better question and you will get a better answer! With that innovative idea you have had for some time, now is the time. Australia is starving for innovation and by stepping into your entrepreneurial leadership space you can take this initiative and create incredible outcomes. Start your innovative leadership journey now and let me know how you go!
“When one door of happiness closes, another opens; but often we look so long at the closed door that we do not see the one which has opened for us.” — Helen Keller
Australian organisations “Struggle with Innovation”
The SAL Report “Do Australian Leaders Have what it takes” examines innovation in Australian workplaces and highlights that Australian organisations struggle with innovation. Chapter 8 compares workplaces which are more innovative with those that are failing to engage with innovation. It then investigates the relationships between innovation and performance and between management and leadership related variables and innovation outcomes. The key findings are:
- Australian organisations struggle to turn knowledge and information inputs into innovation outputs
- Small organisations struggle most with radical innovation. Public sector organisations score considerably higher on radical innovation
- Short-term performance is more affected by incremental product and service improvements and less susceptible to radical innovation
- Highly innovative organisations actively sense, internalise and act upon new knowledge and changes in their operating environment
- High performance work practices relate positively to innovation
- Employee management based on clear goals produces more innovative outcomes
The Power of Business Ingenuity
A Forbes March 2020 article by Ted Ladd shows “How to Reinvent Your Business to Thrive after the Coronavirus.” Business has changed, perhaps forever, due to the coronavirus. Once we emerge from this crisis, business managers can reinvent their product offerings to survive in the post-coronavirus economy in four steps: deconstruction, imagination, testing, and prototyping. At the heart of this method is evidence-based decision-making. To start, let’s admit the obvious disruptions to existing businesses: supply chains are missing a link; company owners have little cash on hand; employees are eager but scared; consumer confidence is low except for staple products and services; and consumer habits have shifted to online-only channels. In this time of crisis and reinvention, my summary is that evidence matters. Perhaps now more than ever. This not should not only motivate the way that you seek to improve your business, but also should filter the advice that you consider. The approach that I’ve outlined above relies on my own research and the rigorous, thoughtful work of others. What all of these approaches share, in addition to an emphasis on evidence, is a well-found faith in the power of business ingenuity, especially during periods of crisis, to not just create resilient ventures but also to address and ameliorate real human needs. Be well and reinvent.
Eight Essentials of Innovation
A June 2020 McKinsey article shows why “Innovation in a crisis: Why it is more critical than ever.” The COVID-19 pandemic has upended nearly every aspect of life, from the personal (how people live and work) to the professional (how companies interact with their customers, how customers choose and purchase products and services, how supply chains deliver them). In our recent survey of more than 200 organizations across industries, more than 90 percent of executives said they expect the fallout from COVID-19 to fundamentally change the way they do business over the next five years, with almost as many asserting that the crisis will have a lasting impact on their customers’ needs. The essential practices underpinning distinctive innovation have not changed in this time of crisis, but the relative emphasis and urgency of where businesses should focus has. Whereas in our 2019 article “The innovation commitment,” we highlighted Aspire and Choose as disproportionately important during times of stable economic growth, we believe the uncertainty and severity of the current crisis requires leaders, first and foremost, to re-Discover customer needs and Evolve their business models to meet those needs.
Above all, organizations need to realize that innovation, now more than ever, is a choice. Regardless of the relative emphasis and order, we believe that the Eight Essentials of Innovation, which for years have helped leading innovators more than double the total returns to shareholders compared to laggards, will continue to be critical in navigating and emerging even stronger from this crisis.
Office Jerks STOP Business Innovation
In my blog, I referred to having “Courage to deal with the Jerk at Work.” You might wonder how this impacts on innovation? There will often be that one person in a working environment that no amount of coaching or compassion will address the issue. Then, it has a flow on effect to the rest of the team and your business and it causes disruption, anxiety, pressure, and even hostile work environments no matter what others may do to try and alleviate their issues. The end result is that other team members will not be inspired to contribute and re-invent your business in challenging times.
There are steps you can take to ensure a smoother, working relationship that gets the results you need for dealing with this situation which will create a harmonious team. Let’s explore how to be courageous and deal with a jerk at work:
- Be Aware Of Your Confidence
- Keep Communications Open
- Don’t Just Take It
And, if the office jerk is offensive, bullying, or entering the realm of harassment, you don’t have to take one for the team and excuse the behaviour. Recognise that their actions affect not only your work environment, but also the business image and fluidity as a whole. Report negative behaviour immediately to a supervisor or the human resources leader for resolution, and understand that this has nothing to do with anything you have done. Negative personalities such as the workplace jerk reduce productivity and job satisfaction, and making others aware of the disruption to business will ensure actions are taken immediately to correct the situation.
Leadership Innovation OPPORTUNITY for YOU
McDonald Inc. has a vision to: “Lead 1 million women to have Courage, Step in, Step up and Start up.” Through a compelling need, McDonald Inc. has the solutions and is now taking women’s leadership to the next level. This will help women across the globe become courageous in their lives, careers and through leadership especially in sectors where women are under-represented. Choose one of our programs to take your leadership to the next level:
- Courage to Step In – getting into and back into workforce – career transitions and helping women back into workforce after a career break or those who don’t have resources
- Courage to Step Up – getting a seat at the table
- Courage to Start up – entrepreneurial program
- Courage to Lead – leadership for future of work
- Leadership and Executive Coaching
- And, remember, Leadership starts from within, so grab my latest book FIRST COMES COURAGE!
Get in touch today to learn more about building leadership skills and set yourself up for success!
Stay Kind. Stay Courageous.
Sonia x
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