How Innovative Ideas Affect A Company's Overall Success [Infographic]

I think most people would agree that in the fast-paced technology industry, innovation is one of the key ingredients for success. When a company stops innovating, even if it’s just for a short time, they can lose their footing and reputation. Innovative ideas aren’t important just for technology companies though. In today’s business climate, being innovative can be all it takes to push passed the competition in almost any industry.

Does your company create an environment that fosters innovation and creativity, or are innovation efforts sluggish and ineffective? This infographic called What Really Fosters Innovation (by mindjet) can help you answer that question. It goes through the five key ingredients that need to be present in any company to foster innovative ideas.

The key takeaway here is that “Wishing for innovation isn’t enough. Data shows it’s the product of strategy and structure, with company processes and culture to support it.” As you’ll see when you look at this, increased innovation directly leads to increased revenue. Companies that perform well when it comes to incorporating innovation into their strategies grow significantly faster than companies that don’t.

The interesting thing is that even though most company leaders acknowledge the importance of innovation, few are able to pull it off. As a result, they remain stagnant or experience slow growth. Since it’s a vital component to being ultra-successful, learning how to foster an environment that encourages innovative ideas is important. This seems like it would be especially true for tech startups and new social networking sites that are trying to stand out in the crowd.

If you want to read more about this, you can click over to an article just published yesterday on Forbes called The Power Of Innovation And Technology To Change The World. It lists about a dozen people who have used innovation and technology to make a difference in the world.