Innovation is part and parcel of a company’s growth. For any organization or business to remain relevant in its niches, it must be innovative in its operations. Businesses have realized that having a culture conducive to innovation is beneficial to the organization’s leaders and employees. Most leaders and employees are usually willing to learn something new. Innovation allows them to experiment and tolerate failure.
Most companies globally work towards creating an innovative culture in their organizations. As desirable as it may be, it is not easy to execute and implement such cultures. Innovative cultures seem to be fun yet challenging to implement because they need to be counterbalanced with the reality on the ground, which is less fun and tougher to deal with. Let’s look at how companies are managing the paradox created by innovative cultures.
Tolerance for failure
Tolerance for failure is an essential characteristic of innovative cultures. Exploring unknown terrain requires preparedness for failure since one is uncertain of the outcome. Apple’s MobileMe and Amazon Fire Phone have had their fair share of failures regarding innovation.
What has been keeping them on track is their competence. These companies work with a highly qualified team that understands the relevance of maintaining high standards.
Subpar performance should be intolerable when it comes to creating innovative cultures. For an organization to have a tolerance for failure, it must have exceptionally competent employees. Venturing into unknown territories means one gets to learn as one goes. With a skilled team, a company can take risks, having confidence in its team.
Willingness to experiment
Most organizations shy away from experiments and trading on shaky grounds. The few companies going the extra mile to experiment are usually comfortable with ambiguity and ready to forge through the competitive playing field. Such companies take their time when it comes to innovative solutions. They learn through the process before developing any products or services.
Experiment without discipline has no value. Successful companies experiment to yield results or direct them appropriately. The willingness of a company to experiment should be discipline-oriented.
Company innovation is not easy to achieve without counterbalancing. Innovation is essential for the growth and success of a company, but it should be performed in the right way.