Building a Culture of Innovation

HOW to: Build a Culture of Innovation Innovation remains a high priority for most corporate leaders. Consensus is that succeeding in todaj's business enironment reguires more than just growing sales and cutting cost. It reguires continuously inding new and better ways of doing business. Better product, better Services, better processes. But for innovation to truly thrive, it can't simply be a mandate from the top or a once a guarter initiative. It has to be part of a company's culture, built into the fabric and DNA of the organization over time and supported by a defined on-gaing process. So how does this happen? lere's ouer take: Innovation Is the Process Converting Knowledge and Ideas into Better Ways of Doing Business of BUILDING A SUCCESSEUL CULTURE OF INNOVATION IS A JOURNEY - HERE'S HOW; Stepl Get Support from the Top »Executive management must endorse and support the pursuit of new ideas, as innovation reguires resource, risk & time! DEFINE! What Innovation Means to Your Company Step 2 This Is Our Definition. What's Yours? A custom definition for your company spells out the beharior you want to encourage »It provides a written quide or vision that is easy for everyone to understand Put the Step 3 Process & Tools in Place to facilitate idea generation and follow through to implementation. Priority! This must be approached as a discipline. Create tools to help people think through ideas & champion them > Ideas must be managed & prioritized so that the best ones are identified and allocated the proper resources Step 4 Involve EVERYONE Oldest Hourly Salary Executive Full-time Great ideas come from unexpected areas, so tap creativity and perspective from ALL Sources. Me Upper Mgmt On-site Middle Them You Mgmt Step 5 MEASURE Progress & Success ·Idea Pipeline 'Implemented Ideas •Value iliuililuluuulul •Customer Satisfaction You can't manage what yOu don't meaSure, So track and show resuults. Step 6 Celebrate and Reward Success, AND Even a Failure or Two: Great Job, Recognize and reward what works, but also look at what didn't work. Sometimes that is where the most valuable lessons come from. For further information, please contact us: 1-888-BUDCO-40 www.budco.com Budco SOSTART Off-site