As we all know, change or die. And a business’ approach to innovation is critical to its long-term success. But to achieve it, distributors need to focus on developing innovation skills in their employees. According to an annual CEO survey conducted by the Conference Board, the top innovation strategies for not only Los Angeles based manufacturers and distributors, but all, specifically revolve around developing innovation skills in their employees. And the ones deemed to be the most impactful are skills like scenario planning or exploring strategies from outside the company’s specific industry or niche.
More and more, companies are coming to recognize that innovation comes from people. And while we all know that technologies can be leveraged to solve all sorts of problems, it’s about the smart people who leverage the technology to get to that innovation that matters.
In order to improve innovation, which many CEO's view as a critical element for growing top line revenue, start by creating an action plan to make sure that employee development is on the top of the list. While “getting the right people on the bus” is obviously critical, it’s also crucial that those very same staff are growing and have a reason to stay on board. And staff development is critical to any organization’s success.
Another key component that complements developing talent is around how teams are built and leveraged. Forming teams that are diverse (in skills, experience, and culture) will naturally add value to the process by having different viewpoints to share. At the same time, making sure the CEO is also involved is key. This is a critical component for employee engagement that is too often over looked.
Building “a culture of innovation” requires a specific leadership mindset which is more often than not a proactive one. It’s something that starts with the CEO and works its way down through the organization. And a key component of successful innovation is always around its people.
What is your experience with innovation? Are you interested in creating a culture of innovation or have you already built one? If so, what are your successes? Please share your thoughts with us. We’d love to hear about your experiences in the Comments section below.
If you own or manage a distribution or manufacturing company in Los Angeles, and you’re looking to stay up to date on the latest technology, be sure to download your free guide, How COOs at Los Angeles Distributors and Manufacturers Get More Done: A Guide to Productivity, Data, Staffing, Delegation, and Making It Home for Dinner Most Nights.