Growth Through Innovation

Viewpoint by Kevin O'Donnell, Senior Partner

Done right, innovation can drive organic growth and serve as a key differentiator for a brand.

Getting there, however is no easy task. It requires a sustained commitment to creating an overall innovation system that includes processes, systems, philosophies and behaviors. And behind all these elements are two must-haves for success.

First is a concerted effort to ensure a balance is achieved between the art and science that drive true innovation. Second is acceptance of failure – perhaps more problematic as the prevailing corporate business model presumes a high degree of certainty and success. To innovate successfully requires acceptance that there’s more you don’t know than you do, and an openness to the risk that learning more may entail.

Innovation is more than the trend du jour, but it takes a healthy innovation system to fully realize the benefits of longevity, growth, and a fresh and relevant brand.