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Innovation Engine: Driving Execution for Breakthrough Results by Jatin DeSai

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CHAPTER 5

Building Momentum

Once you have linked innovation to your organization's specific business strategy and the intended value targets, you will need to educate employees at all levels on how the organization can generate growth and profit through innovation. By creating transparency, all employees will have a better idea of how to generate ideas that can be successfully ventured.

It puzzles me that so many firms think they can get a cheap competitive advantage by purchasing something on the open market. Anything that you can purchase on the open market is also available to your competitors. So the question is: How can you distinguish yourself in a world in which your competitors can copy everything you do?

The answer is this: All that separates you from others in the market are the skills, knowledge, commitment, and abilities of the people who work for you. Companies that manage and develop people well will outcompete those that don't by 25% or more. This principle applies more than ever in today's globally connected world, and it might rise to as much as 40% in the next five years.

Most leaders immediately understand this point. What they lack is the ability to hold this principle close to the center of business growth strategies.

In retail, they say it is location, location, location.

When it comes to disruptive and continuous growth, it is all about engaging your people, people, people.

Momentum

Now that you have your own innovation roadmap, it is time to start building ...

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