We know that every generation has its own uniqueness in creating something new. Each generation can create its own “new breakthrough” that can amaze other generations. Not only a new breakthrough, but it can be used by many people. For example, the millennial young generation creates a new slang vocabulary and later the vocabulary is made into an innovative object by someone. Until finally, these objects can facilitate human activities and can be categorized as new innovations.
If Innovation is FANA, then what about the Definition of Innovation? One of the notions of innovation where a creativity, inventiveness and strong initiative can produce something that is materially much better than previous discoveries. So, one of the goals of innovation is to create new conveniences for human life through the discovery or new development of innovative ideas that are successfully realized.
An innovation is also closely related to product innovation.
What are the benefits of Innovation for business?
As something that is developed and made new, innovation has benefits as well as goals. Innovation is an idea or idea that requires a process in its realization. In this way, goals are also the hallmark of an innovation. So, here are some of the benefits of innovation:
1. Provide solutions to solve problems
One of the benefits of innovation is being able to solve problems. Something new can replace the old thing that feels full of problems. The presence of new ideas and ideas makes every problem that exists can be solved properly. Especially for product problems, if there are old products that can no longer be marketed, innovations must be made to attract public interest in these products in the market.
2. Innovation can Increase Productivity
By thinking up new ideas and ideas, it means that a person will take the time to use his brilliant mind. Not only thoughts, but innovation will also grow when someone conducts experiments or research. So that by innovating, it means that the person has also taken advantage of the time to stay productive at work and work.
3. Innovation can Help Our Business
When we are an innovative thinker in business, then we can automatically beat our toughest competitors in business. We will be more proficient in finding ways to design new products, connect and improve customer service with reliable quality, promote our business effectively, increase sales, develop product advertising strategies, and so on.
What is the goal of Innovation?
1. Increase Efficiency
Of course, innovation also helps us to be more efficient at work. High efficiency will increase the output that we produce, but without excessive costs or costs.
2. Improving and Improving the Quality of Products or Services
Business life will continue to change over time. In this case, innovation aims to assist humans in continuously improving the quality of products and services to suit the needs of the times.
3. Meeting Customer Needs
Human needs are not limited, but innovation will help us to meet human needs slowly, but surely. For example, experts are trying to find a cancer drug that is effective for cancer sufferers today.
4. Developing the Insights or Knowledge We Have
The more innovation develops, the more knowledge we have. For example, in the past we might find it difficult to learn a foreign language. However, innovations in technological developments have helped us to learn online.
5. Sustainability of Living in the Future
With innovation, humans who live today can try and work hard to ensure the sustainability of the lives of their children and grandchildren in the future. For example, innovation helps researchers to find substitutes for fuels that can be used in the future.
We are always required to always innovate in business, is it necessary?
In a business context, innovation can be related to modifying the business model and adapting to changes to create a better product or service. There are various forms of innovation in business. It depends on what goals the company wants to achieve. It can be product innovation, internal systems or work processes, to business models. so innovating in business is very important to meet market needs. Here are three reasons why innovation is important in business:
1. Innovation keeps business relevant
The world is changing all the time. Likewise with business. In order for your business to remain relevant, adaptability is absolutely necessary. Especially in the midst of today’s technological disruption. In fact, until now technology has become one of the biggest factors driving change. Technological developments have also created a new era of innovation across business models and industries. This condition makes many new businesses (startups) appear with various innovations that break the industry. It is not impossible, the startup becomes a new competitor for companies that already exist.
2. Drive business growth
Every company has its own way and way to grow, achieve goals, and success. For example, despite slower growth, there are companies that choose to implement a pre-designed business model in stages. Others take the quick step of acquiring or merging with other businesses, which usually cost more money.
3. As a company characteristic
One of the main goals of innovation is to do or create something different from competitors in the same field. If you want to innovate on a product, then develop the product so that it has advantages or special specifications that are not on the market. It can also be done by innovating the way or the company’s work system. This innovation can not only save the company’s resources, but also make the business superior.
In addition to the three factors above, it is also necessary to understand that innovating is not necessarily enough to achieve success. More than that, companies must be able to bring and implement these innovations into every line of business and life.
Do you feel your product is innovative?
Do you feel that your product has a big social impact?
Do you feel your product is environmentally friendly?