{"id":13473,"date":"2023-09-12T22:55:28","date_gmt":"2023-09-12T22:55:28","guid":{"rendered":"https:\/\/mysourcefunding.com\/startups\/how-to-set-the-stage-for-business-innovation\/"},"modified":"2023-09-12T22:55:29","modified_gmt":"2023-09-12T22:55:29","slug":"how-to-set-the-stage-for-business-innovation","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=13473","title":{"rendered":"How To Set The Stage For Business Innovation"},"content":{"rendered":"
\n

Leen Kawas | Entrepreneur, Inventor, Innovator and Leader | Managing General Partner at <\/em>Propel Bio Partners<\/em>.<\/em><\/p>\n

In today\u2019s technology-driven business world, innovation is the engine that drives new products, services and applications. In the biotechnology industry role, I see diverse types of innovation on a daily basis. Each breakthrough springs from an integration of factors that spur bold thinking and bring exciting discoveries.<\/p>\n

Scott Noppe-Brandon, author of Imagination First: Unlocking the Power of Possibility<\/em>, <\/em>explained that innovation is the end point of a three-part continuum, known as the imagination-creativity-innovation (ICI) continuum. Imagination carves out a place to discover possibilities, and creativity soon emerges and sparks remarkable innovation.<\/p>\n

Workplace culture is a key contributor to innovation. A culture that encourages the free flow of ideas and invites a connection to an organization\u2019s vision and mission offers vast opportunities for creativity and innovation. This applies to companies in virtually every industry.<\/p>\n

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Six Factors That Foster Creativity And Innovation<\/h2>\n

Six factors help drive this collaborative workplace. Each works in concert with others to create space for creativity and innovation. However, workplaces are constantly evolving. When new variables unfold, the team leader must fine-tune their strategies.<\/p>\n

1. An Atmosphere Conducive To Innovation<\/h3>\n

I believe that team members collectively possess an overflowing font of creativity.<\/p>\n

Team members who share a common goal typically have multiple opportunities to engage with each other. Sharing ideas and passing along knowledge to fellow team members may help spark new ways of solving problems and brainstorming new product offerings. This creates the perfect environment for innovation.<\/p>\n

In this high-trust environment, leaders invite the exchange of ideas on diverse topics. Forward-thinking leaders develop an effective method of cultivating (and recording) team members\u2019 ideas, and the hierarchy between leaders and team members fades into the background. When leaders listen to team members\u2019 proposals and suggestions, innovation will be a natural outcome.<\/p>\n

2. A Favorable Attitude Toward Risk<\/h3>\n

In any industry, significant breakthroughs require an element of risk. In my career, every drug discovery, scientific advancement or any new startup has involved risk. Over the years, I have become well acquainted with learning curves and \u201cthoughtful pivots.” Stated another way, things rarely turn out as planned.<\/p>\n

Risk-taking is also prevalent in high-trust workplace cultures geared toward innovation. Structured tests and prototypes play key roles in every discovery. But failures\u2014even those that derail an entire project\u2014are also exceedingly common. By regarding failures as learning experiences rather than setbacks, the team can keep moving forward and grow.<\/p>\n

3. A Love For Learning<\/h3>\n

Team members who bring a natural curiosity to their jobs should be given plenty of opportunities to learn. Maybe they learn by doing, likely making mistakes before they discover a better or more efficient way of reaching a goal. Perhaps they thrive on self-paced online courses or education events that provide a working knowledge of a new technology or discipline. Or certain team members may be better suited to working with an inspiring mentor.<\/p>\n

Regardless of the individual\u2019s path, leaders should take the “interactive-hands off\u201d approach, where they stay involved in the details yet empower the team to lead with their ideas.<\/p>\n

4. Engagement And Participation<\/h3>\n

Getting (and keeping) team members focused on innovation can be tricky. They can become sidetracked with other projects or drift off on counterproductive tangents. It’s important to promote productive innovation that guides the company and the team toward its goals to help achieve the ultimate mission and vision for the organization.<\/p>\n

The very nature of innovation dictates that the company rejects the status quo. Leaders and team members should seek new ways of solving problems and conquering challenges. This may call for an integration of varied approaches and techniques\u2014all geared toward accomplishing the goal.<\/p>\n

During team meetings, extroverts naturally step up with comments and\/or ideas. To give the entire group a chance to contribute, the team leader should ask everyone to share their thoughts on preset topics. Speakers should have an opportunity to present their point(s) without interruption. Also, making an effort to meet with different team members at every level is critical for leaders to steer their organization effectively.<\/p>\n

5. Speed And Forward Momentum<\/h3>\n

Biotechnology is a fast-paced industry that thrives on innovation. For perspective, I often see multiple companies working on a single problem. Therefore, it\u2019s crucial to arrive at a solution before the competition does.<\/p>\n

Teams must move quickly while remaining agile enough to change course if needed. Cross-functional collaboration is also much more efficient than a time-wasting functional hand-off.<\/p>\n

6. A Dynamic, Dedicated Team<\/h3>\n

A leader cannot bring their vision to the world on their own. A talented, committed team makes all the difference. I always look for team members with an innate curiosity. I believe candidates without a specific skillset but with a \u201ccan-do\u201d spirit can be uniquely valuable additions.<\/p>\n

Team members working closely together have ongoing opportunities to uplift each other. Maybe a team member needs support while executing a challenging task or navigating a personal issue. A forward-thinking leader will offer support, creating a stronger bond within the team.<\/p>\n

Next, a \u201clean\u201d methodology offers every team member the opportunity to make an equal contribution. With minimal organizational hierarchy, the team is completely free to brainstorm ideas and solve problems. The lean model also emphasizes continuous improvement, guided by feedback from the leader and fellow team members.<\/p>\n

Surprisingly, positive competition helps build a stronger team. A friendly competition based on mutually important goals is ideal. Clear, realistic objectives and valued incentives will combine to hold participants\u2019 interest. This high-energy, competitive mindset often translates into higher productivity and sparks innovation.<\/p>\n

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Leen Kawas | Entrepreneur, Inventor, Innovator and Leader | Managing General Partner at Propel Bio Partners. In today\u2019s technology-driven business world, innovation is the engine that drives new products, services and applications. In the biotechnology industry role, I see diverse types of innovation on a daily basis. Each breakthrough springs from an integration of factors […]<\/p>\n","protected":false},"author":1,"featured_media":13474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[77],"tags":[],"class_list":{"0":"post-13473","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-startups"},"yoast_head":"\nHow To Set The Stage For Business Innovation | Brandiary<\/title>\n<meta name=\"description\" content=\"Leen Kawas | Entrepreneur, Inventor, Innovator and Leader | Managing General Partner at Propel Bio Partners. 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