Innovate – How to Innovate So You Can Beat Your Competitors
Innovation is a process whereby something is developed after having been previously developed. Innovation is the systematic creative application of scientific ideas or research resulting in the creation of new products or services, or enhancement in providing existing products or services, or even change in providing existing products or services. It is often called “re-invention” because it is frequently a case where something that had been thought to be a problem or difficulty has turned out to be an advantage. It often occurs by accident or because of necessity. Inventiveness can be impeded by limitations in funding, talent, time and other resources.
Innovations have become a buzzword for businesses everywhere but it is important to understand what it means and how you can best implement it so as to maximise its potential. For example, you might choose to start a manufacturing business where your product or service combines several innovations. Let us take the example of a printer and inkjet printer, and then consider how you can use the concept to your advantage.
With an inkjet printer, you have several alternatives for how to produce your product. However, if you want to be really innovative you should look at the business models available as they are usually developed around the most efficient ways to use their technologies. If you start innovating using inefficient business models, you may end up being forced to change your entire production system to use more efficient technology. This might cost you a lot of money, especially if your competitors are already using these business models to boost their market share.
The best way forward is to develop a new set of strategies for innovating your business model. You need to think about all the different ways in which you can incorporate the latest innovations into your business model. You can use innovations to create new products, or you can use innovations to improve on existing products that you have been producing over the years. There are countless possibilities for innovation.
Now let us move on to the third section of this article – “Substitute Ecosystem Services for Competitive Advantage”. In the first paragraph we saw how being inventive was required for overcoming obstacles in your market. In the second paragraph we saw how using inventive solutions could help you create new products that are better for the environment. Finally in the third paragraph we saw how the service of an eco-innovation expert could help you replace wasteful processes with more efficient ones. What we are trying to do in this section of the article is to identify 3 sub-organisms in an organisation that can help you innovate, namely: Creative Destruction, Eco-innovation and Subsituational Thinking.
These three organisms work in synergy, so that one can become much more productive than it would otherwise be. The first step in creating a sustainable competitive advantage is to get rid of waste in a process and then make up for any loss by coming up with new solutions to substitute wasteful processes with more efficient ones. This process can take a long time as it needs ample research, development and testing before you can introduce environmentally friendly innovations that can help you replace processes that consume valuable resources with ones that do not. Therefore, the first step towards sustainable innovation in any company is identifying where there are inefficiencies and then setting about replacing them with more efficient processes that do not produce waste or cause environmental damage.