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Innovation Meaning

What is innovation?

To innovate literally means to renew. It is about solving real customer problems in new ways. This can be done by applying new technologies in products or services AND by having employees with the mindset to understand the customer experience. Innovation is not only about small improvements, but also about organizational processes.

And this is what you will learn more about in this post.

When are you innovative?

An innovation is when an idea is successful in the market. This means that if something is innovative, it shouldn’t necessarily be something new. The idea has to be good so that it matches our behavior or it has to influence us. An innovation can be done in different ways:

  • Product innovation: People who sell an existing product and are going to innovate this product or develop a new product.
  • Service innovation: As an organization you provide a service and you are going to adapt or improve these services.
  • Technological innovation: You use new technology to create new processes.
  • Market innovation: You focus on your target group and start a new segment, for example.
  • Social innovation: Successful organization have mature and humble people with the mindset of accepting that something might work AND/OR that are able to admit to be wrong and move forward in a new direction. Learning quick and constantly can lead to the most rewarded and least risky unexpected innovation opportunities.

 

Why is innovation important?

In order to keep moving and to follow the latest trend in development, it is important to innovate. As an organization you need innovation, because the market is constantly changing. Besides innovating is good for your customer needs, it is also good for your competitors. If you don’t innovate, this can ensure that you don’t move along and your customers walk to the competitors and don’t want your product.

 

How does STUDIO.WHY apply innovation?

Innovation within an organization is a continuous and creative process. STUDIO.WHY wants to prevent it from becoming chaotic and therefore uses Design Thinking. Through this method you learn to innovate as an organization, but also as an individual.

Innovate with STUDIO.WHY

STUDIO.WHY helps organizations with innovation. Our goal is to deliver concrete solutions, so that growth is achieved. Do you want more information or do you have questions about innovation? Join our free webinarsfree email course or training courses

"As an organization you need innovation, because the market is constantly changing"

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