2 min
Why to Focus on Innovation? Matthew Brannelly Australia
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- Non-Profit
According to Matthew Brannelly, innovators in the business world create new products, methods, and ideas, each day. They manage to look at problems differently and come up with solutions others cannot, and they provide an endless stream of value to their companies. In fact, innovation just might be the most important component of a successful company.
Look at the reasons innovations is so important, and you will have a better understanding of why you need to innovate every chance you get.
Grow in Leaps and Bounds
Sixty-six percent of respondents in The Deloitte Innovation Survey 2015 stated innovation is important for growth. Businesses that innovate are able to scale up and add more employees. That allows them to take on more customers and grab a bigger share of the market says Matthew Brannelly.
Innovation makes it easier to grow, regardless of the size of the business. You might have a small startup, but if you innovate, you can grow your business. The same is true for a fortune 500 company. It might be a huge corporation, but it can take even more of the market share if it manages to innovate. It’s easy for innovative companies to grow.
Stand Out from Competitors
Your company fits inside of a specific niche or industry, and it’s far from alone. Let’s say, for example, you manufacture light bulbs. Tons of companies also manufacture light bulbs, and you need to stand out in some way. You can do that through innovation.
The right innovation will allow you to offer something unique to your customers says Matthew Brannelly. For instance, what if you managed to create a light bulb that automatically turned off when people left the room? That’s a crazy example, but that’s how some of the best innovations work. Top innovators take popular products and make them even better. That makes brands stand out in the market and makes it easy for companies to increase revenue.
According to Matthew Brannelly, innovators in the business world create new products, methods, and ideas, each day. They manage to look at problems differently and come up with solutions others cannot, and they provide an endless stream of value to their companies. In fact, innovation just might be the most important component of a successful company.
Look at the reasons innovations is so important, and you will have a better understanding of why you need to innovate every chance you get.
Grow in Leaps and Bounds
Sixty-six percent of respondents in The Deloitte Innovation Survey 2015 stated innovation is important for growth. Businesses that innovate are able to scale up and add more employees. That allows them to take on more customers and grab a bigger share of the market says Matthew Brannelly.
Innovation makes it easier to grow, regardless of the size of the business. You might have a small startup, but if you innovate, you can grow your business. The same is true for a fortune 500 company. It might be a huge corporation, but it can take even more of the market share if it manages to innovate. It’s easy for innovative companies to grow.
Stand Out from Competitors
Your company fits inside of a specific niche or industry, and it’s far from alone. Let’s say, for example, you manufacture light bulbs. Tons of companies also manufacture light bulbs, and you need to stand out in some way. You can do that through innovation.
The right innovation will allow you to offer something unique to your customers says Matthew Brannelly. For instance, what if you managed to create a light bulb that automatically turned off when people left the room? That’s a crazy example, but that’s how some of the best innovations work. Top innovators take popular products and make them even better. That makes brands stand out in the market and makes it easy for companies to increase revenue.
2 min