I was recently with a high level group of business people and senior executives of a prominent company. The focus of the day was to develop further insights as to how these leaders want to strengthen and grow their business in the coming decade. A very forward thinking group indeed.
Naturally, at one point, the conversation shifted to the concept of innovation. Upon further discussion, the group of executives all agreed that innovation was largely derived from the development and implementation of new technology.
After much conversation about how this firm would continue to lead their industry by developing innovation, I asked them to go further than simply defining innovation as gains in technology.
The results from the discussions indicated that people commonly associate the following items with the term innovation:
- Problem solving
- Process driven
- Creative solutions
Definition of Innovation
At Samurai Innovation, we have our own definition of innovation. We define innovation as:
“being able to bring possibility thinking to solve old or recurring problems with new ideas and techniques”
The commercial benefits of the samurai definition of innovation is that innovation breeds growth and yields trust and profitability. The key in the last sentence is “ability”. Your results from seeking and implementing innovation in your business will come from you and your firm’s ability to search for, refine and try new possibilities matched with new techniques of solving old or recurring problems.
Often times, this process doesn’t cost huge amounts of time and resources to do so. It only requires the willingness to ask new questions and seek out new answers from sources you may never have considered before. People are willing to be stakeholders and collaborators in solving old and recurring problems so that we can all benefit and move onto other unique challenges and opportunities in life and in business.
What is one recurring or old problem that your business hasn’t yet solved?
Where have you not looked for a possible solution?
How many people have you collaborated with to find a solution?
Try organizing a new group of stakeholders. Try to bring out at least 20 new possibilities to solve the problem. Somewhere in the 20 exists a solution or a combination of a few for the one solution.