Business Leadership by Gallos Joan V.; Heifetz Ronald A ; & Ronald A. Heifetz

Author:Gallos, Joan V.; Heifetz, Ronald A ; & Ronald A. Heifetz
Language: eng
Format: epub
Publisher: John Wiley & Sons, Incorporated
Published: 2014-04-22T00:00:00+00:00

The Innovation Imperative

Whether or not you realize it, at this very moment, your organization is battling for its existence. All human institutions must constantly struggle to establish their relevance, attract attention, and mobilize resources to compete for survival.

In this constant competition, no organization can afford to become static. It may change and evolve at different rates, but ultimately, to stagnate is to invite competition or lose relevance. If the needs and demands of the market shift and an organization fails to follow, it will be marginalized. If competition moves in to fulfill the same needs of the same population with a more compelling offering, the original group must adjust to the new reality or risk losing relevance.

Successful organizations—ones that persist and maintain their relevance over long periods of time—meet that challenge with innovation. They continually strive to refine their value proposition. Occasionally, they may reinvent themselves completely, revisiting and redefining their overarching purpose, but usually innovation happens on a much smaller scale. They incrementally improve their products and services, raising value, lowering cost, or expanding markets. In this way, they constantly align with demands and meet competitive pressures.

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