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Innovations in Organizations

Innovations are a necessity in this highly predatory business world; its just like in the Jurassic age where species had to develop complex survival techniques for life sustenance. Innovation and creativity are essential to success in today’s economy. Savvy business leaders understand that creating new products, services or operating procedures is both expensive and time-consuming for an organization, yet can be vital to long-term survival, says Michael D. Mumford, a distinguished research professor of psychology at the University of Oklahoma.

Traditional thinking is woefully inadequate while evolving market and business strategics; we see companies getting frozen in a revenue bucket for years and not move an inch. Every Quarter the S&M thrust falls short of market needs, roping in Sales and Marketing profiles may add some mileage but never take the organization into orbit or even defend against a small competitor. If every organization can win over the market with pure play references, sales & marketing then we would have many an organization’s revenue skyrocketing with trends trending towards 90 degrees over the graph.

So why  has growth become stagnant? Its certainly not a reason to blames the S&M; its just that there are no innovations to offer and practically all packages on the corporate website stale and outdated atleast by a decade.  Innovations based on the existing set of services and products that a company can offer and extending the same is key for immediate attention in the marketspace. There is a strong need to innovate, frame strategy comprising of three key components that must be aligned: product/market, knowledge and innovation/creativity. As the competitive landscape changes, organizations need to continually revisit their alignment among these positions.

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