Innovation is essential for business and society. It is a requirement for developing breakthrough services, products, and offerings, the imperative for higher returns, growth and competitiveness.
We are often asked to describe in different ways why Innovation is essential to an organization. We always come to a few conclusions in the discussions we have, these days. It is not necessarily growth that comes first. Profitability and competitiveness as well as quality and finding a raison d’être in the interaction with the stakeholders are seemingly as important issues.
The ability to innovate determines the quality, character and values of the modern corporation. It defines future profitability, allows us to adapt to new challenges and opportunities; it also leads to solutions to social challenges. It defines both who we are and how we do it.
-Dariush Ghatan with help by Allan Freedman