Through this article, one can dive into the idea of the intent of innovation and how often times, new start-up companies tend to trump larger organizations when it comes to being innovative. According to this article, the intent of innovation is to answer the question, “What will innovation give me that nothing else will?” This question may be asked by a lot of NPOs, but still it is not being effectively implemented.
For example, there are many well-established art institutions that have the talent and marketing reach to be extremely innovative, but time and time again they are beaten by smaller organizations. According to the article, this is because of five barriers and risks…
- Lack of the needed mentality to cultivate new ideas
- Misusing resources
- Under-utilizing the creative capacity of your human assets
- Too much focus on general product delivery
- Holding on to past principles and being afraid to take risks
If an institution wants to successfully implement innovation, which is considered by many business professionals today to be the most important business issue of our time, they must work against these barriers. Art leaders in the NPO world must dedicate themselves to innovative ideas and stop falling behind when it comes to connecting to their existing and more importantly potential target audiences. They should strategically invest in innovation, recognizing its long-term growth and not being so afraid of the financial risk. Financial barriers are clearly an issue and something that challenges all NPOs, but seeing that the use of innovative ideas is growing rapidly, it is becoming clear that business success is linked to innovative strategies. For more details on “Innovation Intent,” read the full article Innovation Isn’t Just About New Products.