A company’s ability to innovate can make or break an organization, but success in the area can be somewhat intangible, particularly when it comes to attracting and recruiting people who can help them achieve it.
In this edition, Rebecca Thomson looks at the benefits of encouraging all employees to innovate, and this is undoubtedly important. Knowing what qualities are needed in potential recruits can, however, be difficult, and the onus for many firms has been on creating an atmosphere which encourages creativity and the free flow of ideas, and allows for a certain level of risk in trying them out. By way of creating such a culture, many companies are introducing what is known as an innovation lab.
An innovation lab is a place in the company to spearhead new ideas and new product development. Large companies build innovation labs fundamentally to recreate the atmosphere of a startup, to appropriate that same energy in order to drive their business forward.
One example is Google’s Google[x] Lab. It is world renowned for being one of the driving forces behind Google’s attempt to stay at the cutting edge of innovation. The tech giant hires in engineers and scientists especially to take charge of their ‘moonshot’ efforts - creative and experimental projects that do not necessarily aim to lead to commercial products, but will certainly move the company forward through innovation. The company’s infamous self-driving car and Google Glass are just two of the ideas to have been born of the lab.
Israel has also proven itself as hub of the tech startup scene, and there is much we can learn from their attitude towards innovation. Richard Angus looks at what they are teaching us later in this issue.
We hope you enjoy CINO Magazine, it has been created to help negate the barriers to innovation which so often affect companies negatively, so if you have any feedback please get in touch with me at email@example.com.