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Value Innovation: An Introduction (First of three presentation videos)

If you are a senior executive, your expertise is critical both to the firm’s bottom line and to its future. Do you drive the quest for value and value innovation in your organization? Maybe it’s time for you to fine-tune your image when it comes to working with your internal creative entrepreneurs.

The entrepreneurial spark is driving today’s business culture – but far too often, it is driving away talented innovators who shy away from the way many executives evaluate their ideas. Whether from a sense of futility or other perceived road blocks, the creative employees pack up their bags and leave, looking for a climate where their creative talents are valued.

If you have a reputation for being a strict number cruncher, you will squash creativity and shoot down the best ideas before they have a chance to succeed. This doesn’t have to be your reality.

There are good reasons to change your culture and creative ways to do so. Senior executives with well-developed leadership skills and even better approachability and openness are best poised to facilitate entrepreneurial success in the organization.

The company’s real goal should be not just innovation but value innovation. What is the difference? Well, innovation is any idea that takes the company in a new direction – a new product, a new service or a different way of delivering that product or service. Value innovation takes the process one step further and asks the question, “Does the innovation either reduce the company’s cost or increase the value to the customer?” Really good ideas do both.

Simply put, does this idea make money for the company and solve a problem for the customer?

This is Dr. Sarah Layton. I hope you will find these ideas useful as you develop a culture that promotes value innovation in your organization. I invite you to view all three videos in the series. Together these videos give you an introduction to Value Innovation, the places to look for Value Innovation and four ways to foster Value Innovation in your organization. Visit us on our website www.corporatestrategy.com.

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Posted by Dr. Sarah Layton in Strategic Planning, strategic planning, innovation on April 28, 2015.

2 Responses to Value Innovation: An Introduction (First of three presentation videos)

  1. Christy Delk: April 28, 2015 at 2:27 pm

    Dr. Layton’s proposition that innovation is undervalued by many execs is well founded. Valuing innovation amongst your ranks is important for both the creative people in your organization as well as the non-creative staff who are watching how you lead. Valuing and marketing your innovation properly will engage your staff (1st) and your clients (2nd)
    creating (possible) new revenue streams to grow your enterprise. A win-win for all!

  2. Dr. Sarah Layton: April 28, 2015 at 8:14 pm

    Christy, thank you for your comment. You are absolutely right. The staff needs to be engaged and feel safe with their contributions. We are working the next two videos which should be up shortly. Stay tuned….. Sarah

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