VR Headsets

Creating a culture of innovation

Richard Baker, Partner
30/11/2018
VR Headsets
Innovation is vital to the survival and success of any business, particularly manufacturers. With a constant demand for better, faster, stronger (and cheaper), as well as global competition, this is a significant challenge for all.

For many manufacturers, innovation is the lifeblood of their businesses. Innovation is happening on a constant basis, problem solving for customers and bringing new products to market.

How can a culture of innovation be encouraged?

  • Allow designers and engineers ‘free time’ to explore ideas and try new things.
  • Capture ideas and suggestions – appoint an innovation team to review and assess their viability – technically, commercially and financially.
  • Establish a cash fund for the innovation team to explore and advance new ideas.
  • Allocate people to each project and agree deliverables and milestones.
  • Take some calculated risks – as well as focussing on ‘easy wins’.
  • Reward ideas and innovative behaviours.
  • Share knowledge and ideas – Empower people to innovate.
  • Collaborate with like-minded businesses.
  • Seek external help in problem solving and removing specific barriers, for example catapult organisations, trade bodies and the Manufacturing Technology Centre.
  • Challenge long standing ideas and methods.
  • Be courageous – don’t be afraid to fail.
  • Be positive – don’t look for reasons not to do it, but reasons to do it!
  • Be persistent.

The world is changing fast and innovation is more important than ever. Businesses should review their processes and approach to innovation at the earliest opportunity.

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Richard Baker
Richard Baker
Partner, Audit
Thames Valley