What prevents innovation in your hardware business? Companies always try to find the best product or service, one that has no competition and is seen as the only one by the customer. Wouldn’t it be a simpler goal to achieve if you started by analyzing what are the inhibitory factors of innovation? Removing barriers will drive innovation and will increase the company’s existing talent.
But what exactly is innovation?
As Peter Drucker, a consultant and business teacher, explains, “innovate is to create something new that brings superior value to the user.” It is rarely an idea that comes up overnight. Rather it is a gradual process that requires several steps, the first one, to see those factors that oppose opportunities and new ideas.
Most common inhibitors that are a barrier to innovation
At IBMH we know as well as you that being at the forefront of innovation is a must today. However, we often focus so much on it that we forget to face possible barriers. Let us begin, therefore, by knowing the inhibitory factors of innovation:
- Ideas take a long time to come into. When they start to be realized, the opportunity for success has already passed.
- Fear of failure and change means that many of these ideas don’t even come out of paper to draft.
- Resources are allocated to daily tasks. Therefore, nothing or almost nothing is left for innovation.
- Innovation is not understood as one more part of the company. It is relegated to something that only the marketing team should do.
- Incentives are exclusively oriented to production rather than new ideas as well.
- Ideas are analyzed from inside as an opportunity for the company. Instead, you must put yourself in the customer’s shoes.
- Efforts often go to the flaws of an idea when they should be oriented to discover its full potential.
How to set aside the inhibitory factors of innovation
Once we have described what are the main inhibitors of innovation in a company, we will have to think about those that affect our business, first individually and then as a team. This dialogue will be the starting point for innovation practices that will be possible.
The next steps will be to listen to the customer. The closer we are to him, the better we can know what he wants and what he doesn’t. It should also be clear that there are certain risks that must be taken. Innovation doesn’t always come first, it’s a trial-and-error process that takes time but becomes fundamental to the success of any company.
All companies can innovate, they just have to change the factors that prevent them.
At IBMH we have business relationships with customers and markets in more than 27 countries. That’s why we can bring you new solutions and proposals for very innovative products that will help your hardware company grow successfully. Do not hesitate to count on us and we will explain you how we can be your Office of Strategic Purchasing Management in China. Contact us today!