Dell Technologies believes that innovation is a critical component of success. Helping a customer achieve peak innovation can make you an invaluable part of their team and foster growth for their company—and yours.
According to Dell’s recently published Innovation Index Research Report, organizations that accurately assess their innovation potential and take steps to build an innovation culture are better able to survive and grow in uncertain economic times. In fact, the Innovation Index shows that innovation leaders are 1.9x more likely to experience higher levels of revenue growth than innovation laggards and followers.
It may come as a surprise, then, that just 18% of organizations worldwide have been categorized as innovation leaders and adopters. The rest are either mired in endless evaluation or lack an innovation strategy altogether.
Creating an innovation culture
Creating and maintaining a culture of innovation is an ongoing process. And though it may take a lifetime to perfect, every great innovation culture starts with five fundamental principles:
1. Create a culture of communication - Help your customers communicate a cohesive innovation vision and strategy across their entire organization and provide regular updates. Remind them that communication goes both ways. Listening is just as essential as speaking and can provide invaluable feedback to help keep the organization on the right path.
2. Leverage diversity - Providing opportunities for everyone to participate is vital. Your customers need to remember that innovative ideas can come from any part of their organization, from the mailroom to the C-suite. Help them bring everyone into the process and give them a chance to thrive.
3. Offer training and mentorship - Building skills and aptitude throughout the organization should be a primary goal. By offering the chance to learn and grow, your customers can foster innovation across the entire fabric of any business.
4. Identify employee motivation - Innovation attracts talent. Why? Because great employees often seek opportunities for promotion, monetary rewards, learning opportunities, recognition by senior leaders and the chance to help shape a firm’s direction. If your customers can recognize and lean into these motivations, they can help create a powerful innovation culture.
5. Encourage a “fast fail & learn mentality” - Your customers can provide forums to share successful and failed projects. This will help them create a culture where everyone on their team feels empowered to take chances and strive for greatness.
Now is the right time to start
You and your customers have an exciting opportunity to rewrite the book on innovation. Even in these uncertain economic times, innovative organizations are thriving and growing. Those who rise to the top will do so because they foster a culture that values courage, communication and innovation.