Mobile Menu

  • Menu
  • Skip to primary navigation
  • Skip to secondary navigation
  • Skip to main content
  • Skip to primary sidebar

Before Header

  • Facebook
  • Instagram
  • Pinterest
  • Twitter

Home Jobs by MOM

Insights. Ideas. Improvements.

  • Lifestyle Insights
  • Business Ideas
    • Online Tools for Bloggers
  • Improving Family Life
  • Contact
  • Search
leader team building

What Do Innovative Companies Do Differently?

You are here: Home / Business / Starting a Business / What Do Innovative Companies Do Differently?

October 17, 2019 //  by Home Jobs By Mom//  Leave a Comment




Tweet
Pin105
Share1

This article contains affiliate links which means we receive compensation if you purchase a product through them. Visit our disclosure page for more information.

What Do Innovative Companies Do Differently_

Enterprises today are continually trying to optimize operational efficiency and profitability. This makes sense; these aspects of performance can make or break an organization’s survival in a competitive industry.

But there’s a difference between optimizing and innovating.

Companies can improve performance while sticking with the status quo. Innovating is a different beast altogether, one capable of fueling growth and change.

So, what types of things do innovative companies do differently?

Here are four areas to consider.

Innovative Companies Hire Change Makers

The first factor that sets the tone for innovation (or a lack thereof) occurs during hiring.

Here’s how one author describes change makers: Someone who “helps turn ideas scribbled on the backs of napkins into real-world results through critical thinking and action.”

This is a much different mindset than someone who focuses on hitting pre-defined targets. You could argue a well-rounded business needs both — some people to push the envelope and others to uphold business as usual.

Changemakers are, above all, open-minded. Instead of saying, “That’s not how we usually do things,” they’re more apt to think, “We could try this new approach.”

Hiring change-makers in key leadership roles makes a significant impact on the level of innovation an organization can achieve.

Define and Measure Innovation

It’s important to define innovation, then decide which metrics you’re going to use to measure it. Of course, this isn’t as straightforward as tracking sales or revenue. But it’s possible to get a rough idea of the return on investment (ROI) you’re getting as a direct result of innovation.

The primary way to calculate ROI of innovation is to measure inputs (time, money, and effort) vs. outputs (tangible results attributable to change).

Innovative Companies Infuse Business Intelligence (BI) with Artificial Intelligence (AI)


Innovative companies are going beyond using business intelligence to answer questions for employees. They’re using AI to uncover answers to questions that haven’t been asked yet. Having AI data analytics tools to automatically detect trends, outliers, and relationships between data points fuels data-driven decision making, which is the cornerstone of innovation.

Another advantage of utilizing AI-driven analytics from a provider like ThoughtSpot is the ability to analyze billions of data rows in seconds. When you compare this with the number of hours it would take human analysts to deep dive into this amount of data, you can see how these insights go hand-in-hand with the ability to make timely, innovative decisions.

Create an Innovative Culture

Many organizations are still finding it difficult to forge and foster an innovative company culture. This challenge persists, even though 63 percent of companies are hiring chief innovation officers, and 90 percent are utilizing new technologies to drive innovation. This disconnect demonstrates setting an intention to innovate and deploying the right tools are only the beginning.

Make sure actions are aligning with words. If leadership conveys, it wants employees to innovate and think outside the box, consider the reaction employees are receiving when they do suggest new ideas or modify processes.

Here are a few questions that may help you evaluate your company culture regarding innovation:

  • Are employee workflows conducive to trying new things and brainstorming?
  • Do people at every level of the company feel comfortable asking “why” questions and making suggestions?
  • Are new ideas dismissed, misused, or reprimanded?
  • Is failure regarded as a good sign because it demonstrates a company’s commitment to striving?
  • Are employees empowered to keep exploring intentional and unintentional innovation?

leader team building

Fostering a culture ripe for invention means talking the talk and walking the walk. Innovative companies make this concept measurable, hire intentionally, use data to drive decision-making, and build a progressive culture.

Home Jobs By Mom
Home Jobs By Mom

Krystle Cook – the creator of Home Jobs by MOM – put her psychology degree on a shelf and dived into a pile of diapers and dishes instead. She is a wife and mother to two rambunctious boys, sweating it out in her Texas hometown. She loves cooking, DIY home projects, and family fun activities.

Tweet
Pin105
Share1



Related Posts

You may be interested in these posts from the same category.

Best Side Hustles for Working Moms to Supplement Income

Alternative Teacher Certification Programs for Aspiring Teachers

How to Make Money with Printables: Create and Sell Your Own

How to Make Money From Your Computer Blogging

How Young Women Entrepreneurs Can Kickstart Their Business Plan

5 Tips for Starting an Online Company as a Working Parent

How to Grow a Garbage Cleaning Service Business

9 Important Tax Forms Young Business Owners Should Know About

Why Handwritten Cards Are Better Than a Post Interview Thank You Email

Important Life Skills to Learn That Can Help You Save Money

How Online Staffing Platforms Provide Flexible Jobs for Stay At Home Moms

Mistakes To Avoid to Become One of The Top Selling Etsy Shops

Previous Post: «4 Tips for Helping Children Cope with Stressful Life Changes 4 Tips for Helping Children Cope with Stressful Life Changes
Next Post: Common Industrial and Commercial Sump Pumps Common Industrial and Commercial Sump Pumps»

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recipe Rating




This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Welcome!

Get a look into a mom's inkling into this crazy thing called life.
Read More…

Recent Posts

6 Cost-Effective Ways to Restore Your Roof’s Appearance

6 Cost-Effective Ways to Restore Your Roof’s Appearance

Best Side Hustles for Working Moms to Supplement Income

Best Side Hustles for Working Moms to Supplement Income

6 Tips for a Perfect Beach Day: Beach and Ocean Safety Supplies

6 Tips for a Perfect Beach Day: Beach and Ocean Safety Supplies

Starter Sneaker Collection: Shoes to Add and How to Maintain Them

Starter Sneaker Collection: Shoes to Add and How to Maintain Them

Meal Prep Tips for Families: 4 Tips to Get You Started

Meal Prep Tips for Families: 4 Tips to Get You Started

Blogger Opp: Women’s Health Month Vitamin Giveaway #BloggersWanted

Blogger Opp: Women’s Health Month Vitamin Giveaway #BloggersWanted

Blogger Opp: X-Sense Wireless Interconnected 2-In-1 Alarms Giveaway #BloggersWanted

Blogger Opp: X-Sense Wireless Interconnected 2-In-1 Alarms Giveaway #BloggersWanted

Turning 40 Women’s Health: How to Stay Healthy and Fit @SuperiorSource

Turning 40 Women’s Health: How to Stay Healthy and Fit @SuperiorSource

5 Tips For Designing Your Own Custom Baby Onesie Bodysuit

5 Tips For Designing Your Own Custom Baby Onesie Bodysuit

Getting Newborn Into Sleep Routine: Helpful Strategies That Work

Getting Newborn Into Sleep Routine: Helpful Strategies That Work

Giveaways

Batman Phone Case Giveaway (Ends 6/13) @goosegiveaways @fanmerchstore

Batman Phone Case Giveaway (Ends 6/13) @goosegiveaways @fanmerchstore

Transformative Strategies Book Giveaway (Ends 6/30) @SilvieArmas

Transformative Strategies Book Giveaway (Ends 6/30) @SilvieArmas

DinoMAYnia Book Collection Giveaway (Ends 6/10) @DeliciouslySavv @NGKidsBk

DinoMAYnia Book Collection Giveaway (Ends 6/10) @DeliciouslySavv @NGKidsBk

Coziest Night’s Sleep EVER Giveaway (Ends 6/25) @DeliciouslySavv @PeachSkinSheets

Coziest Night’s Sleep EVER Giveaway (Ends 6/25) @DeliciouslySavv @PeachSkinSheets

@TRENDHIM Leather Belt Giveaway (Ends 6/1) @Versatileer

@TRENDHIM Leather Belt Giveaway (Ends 6/1) @Versatileer

@JohnBoosCo Cherry Cutting Board Giveaway (Ends 6/27) @DeliciouslySavv

@JohnBoosCo Cherry Cutting Board Giveaway (Ends 6/27) @DeliciouslySavv

Women’s Health Month Vitamin Giveaway (Ends 6/30) @SuperiorSource

Women’s Health Month Vitamin Giveaway (Ends 6/30) @SuperiorSource

Lurvz Silicone Utensils Set Giveaway (Ends 6/10) @LurvzUs @Versatileer

Lurvz Silicone Utensils Set Giveaway (Ends 6/10) @LurvzUs @Versatileer

@IQAir Seasonal Allergy Relief Giveaway (Ends 6/19) @DeliciouslySavv

@IQAir Seasonal Allergy Relief Giveaway (Ends 6/19) @DeliciouslySavv

X-Sense Wireless Interconnected 2-in-1 Alarms Giveaway (Ends 6/13)

X-Sense Wireless Interconnected 2-in-1 Alarms Giveaway (Ends 6/13)

            Enter more giveaways here!

Free Download

Productivity-Planner-Preview

“Every day is another chance to get stronger, to eat better, to live healthier, and to be the best version of you.”

Download the FREE Colorable Productivity Planner to get your life more organized. Sign up as a newsletter insider today!

Be A Better You

This website uses affiliate links which means we receive compensation if you purchase a product through them. Visit our disclosure page for more information.

  • About Home Jobs By Mom
  • Terms & Privacy
  • Contact

Site Footer

  • Facebook
  • Instagram
  • Pinterest
  • Twitter

Copyright © 2022 Home Jobs by MOM · All Rights Reserved

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Reject Read More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT