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The following article was published in our article directory on January 26, 2017.
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Questions You Should Ask Yourself to Cultivate Innovation in Business

Article Category: Business

Author Name: Theodore Henderson

When it comes to putting up a business, there is nothing more important than being able to put up in a fast paced industry. To survive the dynamic business setting means finding utmost creativity to innovate. However, what does innovation in business mean?
Innovation, in the business setting, means introducing something new to your market, and being able to improve and develop your systems and processes to keep up with the trends and technology. It doesn�t have to be something as grand as investing in a new software, or launching a new product every once in a while. Innovation is all about earning the nod of your target market, through constant changes that aim to satisfy their needs or demands.
Running a business can be very challenging, especially penetrating and surviving the market in a long period. Now, what do you have to do in order to achieve innovation in business? Here are some guidelines to stick to, to cultivate innovation in business.
What are the things I need to change in my business set up?
Innovation begins with change. As a business owner, you always need to start with identifying your key areas for improvement and pain points. Are there certain aspects of your product that needs improvement? Are there pain points in your business processes that you have to change?
Where do I need to start?
The next step to successfully implement change and achieve innovation in business is to find out where to start. Do you overhaul the product, or simply change a part of it? Do you need to revisit some old functions in your business model, or just alter a certain procedure? Once you have identified the source and extent of the problem, you�ll find it easy to proceed.
Why do I need to introduce a new product or change?
Apart from the �what� and �where�, the �why� would solidify and put an explanation all the needs. In order for you to execute your plan, you need to have a justification on why you need change or innovation. Is it because of low financial performance, or a high customer complaint ratio? Is it because of dynamic competitors or because of new trends on the market?
How do I guarantee success of execution?
As the saying goes, a goal without a plan is just a wish. Hence, the most important part of innovation is the action plan that goes along with it. To be able to achieve your goals, you need to implement a detailed plan along with step by step guide, timeline, key performance indicators and even point person assigned to every goal.
When can I start and expect results?
Change and improvement doesn�t take place overnight. However, to be able to keep track of your progress, you need to implement a realistic timeline of when you can achieve little milestones and eventually, grander, quantifiable goals in the end.
With these five key questions, you can conventiently identify your business� areas for improvement, and implement a game plan on how to achieve innovation in business.

Keywords: Innovation, innovation in business, innovation in the workplace, cultivating innovation in the workplace, innovation and creativity in the workplace, innovation and diversity in the workplace, innovation and entrepreneurship, innovation and older workers, innovation and baby boomers, innovation and millennials, Leadership and innovation

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