Stories and conversations off the street: Experiential learning on innovation - Series 4

There are compelling anecdotes (and stories) that I have learnt and experienced in my professional life so far that has captivated my mind and also effectively captured a business situation. 

These anecdotes have provided a strong and sustainable foundation for an on the job experiential learning and its application for  high performance,  critical decision-making, problem solving, to communicate and mentor and build sustainable business and teams.

Innovation:

• Innovate or perish! Innovation creates a finite annuity. Multiple annuity creates sustainability. As a rule of thumb, 30% of annual revenues must come from innovations. 

• Re-engineering a copy leads to innovation. Most innovations are either improvisation or variations or modifications of the original piece; very few are originals. 
• Customers, people of the ground, and competitor provide best clues and feedback for innovations and improvisations. Listening and channeling feedback what makes the difference between information and innovation. 

• Build and rebuild like you build a Lego toy.

• Idea without a strategy, execution and $$ is just an idea! 

• Every efforts on collaboration and innovation must be quantified, monetized, recognized and rewarded. Non monetization results in a wasted opportunity! 

• Harnessing and documenting innovations, institutionalizing best practices build sustainable organizations and a culture of excellence and high performance. 

• We have finite brain capacity; learning and unlearning goes together. Unlearn and shed the clutter and the bad, learn the good! 

• Creative tension is a means to high performance, innovation, and collaboration. Creative Destruction is a mechanism for progress. 

to be continued and expanded