Arestan
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Our Innovation expertise

  • Create the environment to get the most out of new ideas and intuition
  • Develop Strategic Business Designs and Models for new ventures
  • Develop Business Plans for new activities and innovative start-ups

 

The battle for Innovation (*)

The simple fact is that innovation is a requirement, not an option, in our economy. It has become the redemption for companies that have to satisfy increasing shareholder expectations, while operating in maturing markets with increased customer demands. Consequently, growth through innovation is often at the top of every CEO's agenda. Yet the business world is full of unsuccessful attempts to reinforce the innovation culture in organizations.

Unfortunately, in the current uncertain climate, where executives and managers barely have time to extinguish fires, it has become an extraordinary challenge to dedicate time and resources to developing a culture, processes and structures to cultivate innovation. Yet this is exactly the leadership challenge, for it is often in times of crisis and uncertainty that the innovation battle is won.

This challenge comes down to committing to innovation, and building a coherent set of structures, processes and tools to make it a sustainable reality. By coherence, we mean with respect to the needs of the innovation culture, which may require different approaches than the company's traditional businesses in processes such as business planning, resource allocation, and performance evaluation.

Although there is no magic formula nor a one-size-fits-all design for innovation, we do have examples and tools to meet the challenge. It just requires commitment and the realization that without innovation an organization will no longer have a long life expectancy.

(*) Without going too much into semantics, we define innovation as the commercialization of a novel concept in a defined market with positive economic returns

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© 2003 Arestan Consulting