View all resources for this competency
Innovation can be defined as a new method, process, or product, that can be used to improve business operations. It normally requires the introduction of new ideas that generate changes which help solve the needs of a company, increase its competitiveness or address the voice of the customer.
Working more efficiently and applying new methods of working, demands innovative thinking. If we are to meet the challenges the industry faces to construct infrastructure, buildings and homes that use 50% less CO2, and are delivered in half the time, that cost 33% less to construct and operate over their life time, we need to do things very differently.
Innovation also requires the implementation of new ideas and may result in organisational change. As we have seen in other areas, we believe that driving change in organisations is an essential management competency for business success. Whether our task is to drive new sustainability skills and standards into our businesses or to radically re-think the way that we do business or simply to change behaviours in our teams – whatever we seek to change as managers, we need in our “toolbox” the ability to make change happen within our organisations.
Benchmark your skills with our assessment tool
Key terms: Enablers, Barriers and Drivers, Voice of Customer, R&D, Balanced Scorecards, Knowledge Transfer Network, Product Life Cycle, Continuous Improvement, Innovative Culture, Idea Generation, Diffusion, Disruptive Innovation, Cross Pollination