Ireland Needs Innovation More Than ROI
The idea of being unique should be reflected in your approach to innovation within your business.
Great ideas, especially those which are ahead of the curve, will have results that are not always easy to measure let alone draw up a blueprint for return on investment (ROI). If you could, everyone else would be doing it including your competitors.
Being late to the party (ie. not being first to innovate) can result in an expensive catch-up situation.
For example, look at how much money Microsoft need to spend on their search engine Bing just to maintain their market share. There’s also the issue of innovations within Gmail and Google Docs persuading internet users to switch email and document brands.
The same principle of innovation applies no matter what size of business you are.
Read this article on adage.com for a refreshing assessment of why innovation fails within companies and what can be done to encourage it.
Irish entrepreneurs must go beyond copying ideas and create new ones.
