Process innovation

It is a necessary strategy for any type of organization, but it is especially important for small companies for a very specific reason: it entails great advantages of “differentiation” and “competitiveness”, which is why catalagorla as a strategic weapon is essential to continue growing and positioning ourselves in a world as globalized as it is competitive, so learning from trends and developing new “innovation landscapes” is vital to understanding market needs

At the same time, it allows us to optimize, improve and consolidate the rest of our organization’s strategies (the marketing strategy, the internationalization strategy, the strategy for attracting and retaining new talents, etc.), to the point of creating synergy between the organization and thus maximize total benefits.

Innovation is a social aspect because it impacts society, generically speaking, that is, it satisfies the needs of human groups, solves with their participation, problems that affect the improvement of their situation, condition and quality of life, or at least creates the favorable conditions for the achievement of these

Ultimately, new technologies have the consequence of transforming the entire market environment, creating opportunities where there were none before or enabling the offer of new services that compete against other already established ones. (see image 1)

But… At what point will we have a return on investment?

As with all business initiatives, there must be a return on investment (ROI) on innovation.

There are times when it is quite complex to calculate the Return on Investment (ROI) in an innovation project. Identifying the income generated from a highly disruptive or more adaptive innovation is a complex handicap to face and understand by the companies that make it possible.

For the ROI of innovation to be properly tracked and measured, it is very important to define metrics. They, as we know, must be separated into two groups: input metrics and output metrics.

Innovation must be tracked at all times, otherwise assertive decisions cannot be generated (see image 2)

If you want more information about the ROI of Innovation, click on the following link