Fostering Innovation in the Workplace

In a previous entry I mentioned that with technology companies in particular, as they grow, the drive of innovation can often be clouded by the drive of the business. It’s important for companies to embrace the innovative spirit that made them successful in the first place, but in a way that ensures durable competitive innovation within the company. As an innovative company, it is vital to constantly be on the leading edge of innovation, especially if that is part of what has made you successful in the first place. If you lose that focus, you will suffer in the next evolution of the technology, so in a way, innovation can also inhibit success. The business will still be able to focus on the dollars and cents, but that durable competitive innovation within the company will start lagging, and the company that was on the leading edge of innovation suddenly becomes a follower and not a leader.

At Alteva, we attribute our tremendous growth over the last five years to a culture that promotes innovation and creative thinking. As our business grew, I became pulled away more often from focusing on innovation to focus on imperative business issues, such as driving strategy. To help maintain the progressive climate that has always made us successful, we strategically restructured the executive team to utilize our strengths and keep the company focused on innovation – and that’s what put me in the chief innovation officer role. Devoting one of your executives solely to this focus will ensure that your company will always stay ahead of the bleeding edge.

Restructuring your executive time is just one of several strategic moves that can help keep a company in a position of innovation leadership in its industry. Other proven innovation strategies and tactics could include:

• Create an open environment where team members are encouraged to propose new ideas – distinguish between the good ideas and the great ones that will produce long-term success.
• Restructure your executive team to utilize strengths where they need to be within the company. Let those that drive strategy concentrate on the business side of things and those that create concentrate on innovating.
• Survey users/customers to discover what they really need rather than what might bring a quick return. Make them part of your development team.
• Focus on new features, but don’t concentrate on them so much that it will throw the rest of your product schedule off.
• Minimize the risk of wasting resources on features that won’t grow the business.
• Be willing to accept the wins and the losses – innovation holds the element of risk.
• Not everyone is born with an innovative gene, it can be nurtured. Send your development and engineer team through formal innovation classes or training programs.
• Don’t lose focus. If that vital spark of genius begins to go away within, the company will start lagging, and it will move from the leading edge to follower.
• Implement formal processes to help foster new ideas into practice.

My passion lies in innovation and has always centered on our technology, innovation and the future – it’s where I get the most satisfaction within Alteva. Within your executive team, employee base and throughout your company, it’s imperative to make sure your people excel at what they do, and are happy doing it.  If one of those things doesn’t exist, then maybe that individual isn’t the ideal fit for that particular role.

William R. Bumbernick is chief innovation officer for Alteva LLC . He has more than 10 years of senior management and entrepreneurial experience in telecom, IT and managed services. Since 1994, William has been involved in executive levels of leadership within the technology and telecommunications sectors.