6 Innovation Killers for Your Business to Avoid

Virtual OfficeA recent article, Ten ways businesses can kill innovation, by Nick Heath, talks about how many large businesses are often centered around practices that stifle innovation.

Below are 6 red flags to look out for in your business.

1.Fear to explore new ideas
Some businesses object to any changes or pursuits that might upset their established setup. If a business is unable to adapt to the changes of their environment or unwilling to seek new solutions, the company will stop growing.

2. Being tightfisted
Withholding funds for development can hamper innovation. While it is important to be efficient with company spending, departments need funding to put innovation into action.

Focusing too strongly on short-term results can reduce the organization’s chance to innovate. When the majority of resources are put into just keeping the business running, it leaves little room for change or improvement.

4.Dismissing past attempts
An idea that didn’t fit a past circumstance, may be the solution for future circumstances. Don’t be afraid to try old approaches a second time. Innovation can turn old failures into new successes.

5.Placating rejections
If a manager has no intention of considering or using an employee’s idea, they should be upfront about it. Innovation involves a continuous stream of suggestions and experimentation. To encourage innovation among employees, a culture of trust must be established.

6.Unwilling to take risks
Enterprises often lack the grit to take a chance on potentially disruptive innovations. Impulsive actions and carelessness should be avoided, but taking risks doesn’t have to be a dangerous game. Taking risks for the sake of innovation is usually less about the actual risk and more about the fear of change.

Successful businesses value innovation. If you are looking to innovate your business’ workspace, YourOffice can help. YourOffice offers a wide choice of office and workspace solutions: virtual office space, meeting room access, and coworking office space. You’ll have access to a complete array of office support and concierge services as well as state-of-the-art business technology.