Why is
Innovation Important?
"In our humble opinion, Innovation should be the lifeblood of every organization in the digital age. An Innovation
culture is what sustains reinvention and breathes life into the organization itself. The current large mega trends in the
business environment, points to an important warning “Innovate or cease to exist."
For organizations that make innovation a priority, the process has traditionally involved designating responsible
individuals, setting performance expectations linked to entity objectives, allowing designated innovators to operate in
a risk-free environment, monitoring their progress using appropriate metrics, and then holding them accountable for
results. However, for most organizations, innovation has been opportunistic and ad hoc. For innovation to reach its full
potential in the digital age, a culture that emphasizes innovation must also encourage diversity, collaboration,
empowerment, continuous learning, ingenuity, change enablement and team performance.
We intend to use our extremely agile Innovation lab to test out ideas for our partners quickly and for free and see if
there is indeed value in that idea. It is an investment that we are ready to make for our partners to see if there is
indeed an idea that can help them be successful and in turn helps us be successful. You never know when a little idea
can be of immense value to the world, and it is not possible to recognize that value without running quick, small,
organized experiments to test the hypothesis.
