In a world driven by increasingly rapid technological transformations, innovating has ceased to be a differential and has become a requirement for the survival and growth of companies, regardless of size and segment. And those who think that innovation is limited to launching new products are mistaken, as it is present in the reinvention of processes, in the creation of efficient business models, and in the adoption of new forms of management. When well applied, innovation opens doors to significant gains in competitiveness, agility, and value for the customer. The benefits are numerous and strategic.
Innovation can manifest itself in different ways, depending on the desired outcome. According to Peter Drucker, one of the greatest thinkers of modern management, innovation is one of the two main pillars of entrepreneurship, along with marketing. In other words, if your company is not yet investing in innovation, it is likely falling behind compared to others.
The truth is that companies that innovate can adapt more quickly to market changes, anticipate trends, and offer solutions more suitable to customer needs. Innovation also enables increased productivity and cost reduction through automation and process optimization, and even greater employee engagement.
More than a one-time or isolated initiative, innovation needs to be integrated into the organizational culture. This implies being able to create an environment that stimulates creativity, experimentation, and learning from mistakes. Companies like Google, Amazon, and Tesla are clear examples of organizations that integrate innovation into their core strategy, reaping the benefits of this long-term approach.
On the other hand, despite the benefits, innovating also brings challenges and, in some cases, even risks. Many leaderships may encounter resistance to change from employees, which shows that the team is not prepared or truly understanding what needs to be done to implement. It may even be that they do not have the necessary tools for it and therefore feel insecure to take a certain step.
A management by OKRs – Objectives and Key Results – can facilitate innovative processes, proposing that all team members work together to achieve the expected results, also ensuring that employees are aware of their roles and how they impact the company in general.
Furthermore, OKRs can help measure the results of innovative initiatives, promoting frequent adjustments in the execution plan of the strategy, typically every three months, allowing constant alignment with the purpose and expected outcomes after a certain period, enabling to identify potential mistakes to avoid repetition and recalibrate the course when it makes sense.
The fact is that even with challenges, innovation is essential for companies to remain relevant and competitive in a constantly evolving world. More than an advantage, it has become a strategic necessity. By embracing an innovative culture and investing in new ideas, organizations not only enhance their performance and deliver better results, but also prepare for a dynamic and sustainable future.
