Innovation and talent go hand in hand: keys to meeting the needs of companies and professionals
Increasingly, labor market demand is focused on finding creative and innovative talent. These two qualities help businesses differentiate themselves from anything that already exists. Because of its importance, every April 21 is celebrated as World Creativity and Innovation Day, with the aim of promoting the creative thinking of people around the world. This date coincides with the birth of Leonardo da Vinci, one of the most influential and creative figures of humanity. To commemorate this day, IEBS Business School, the leading digital business school for online training, explains what innovation is and indicates what its different types are.
Usually innovative objects, ideas or people are associated with something technologically advanced, and it does not have to be so. True innovation is defined by the impact of a change on the customer’s end-of-use experience. In other words, it is only if a change improves the final experience that it will be an innovative change.
To think that something innovative is something very new and has a large amount of disruptive technology is far from reality, because something very advanced does not have to be innovative in and of itself. That said, there are four types of innovation:
First, marginal innovation is about improving the value proposition of a product or service. These are small changes that, if they can fail, will do little harm to businesses. This group ranges from new product packaging to adding a little feature that was missing or creating a name for already existing concepts to make it more appealing. Second, incremental innovation. This type of innovation involves increasing the value proposition of a product or service. In other words, it is about adding features or improving a product to make it more attractive to the customer and, failing that, to lead them to improve their user experience. Keep in mind that a product with more functions or does more things is not always more attractive. Third, we find innovation disruptive or radical. It is the best known, and consists of the creation of a whole new value proposition for a product or a service. It is an invention with huge impact that solves a problem that we may not be aware of and realize once we use it or know it exists. Finally, open innovation is a trend that has gained a lot of strength in recent years and is increasingly followed by companies around the world. It consists of importing new processes through cooperation with professionals or external organizations. The objective is to add joint capacities promoting the internal and external circulation of knowledge. In short, open innovation challenges the idea that creativity has to come from a business.
“In this global environment, so competitive and changing, innovation is essential to create sustainable competitive advantages over the competition,” explains Scar Fuente, Director and Founder of IEBS Business School. “This ability has become a fundamental process to improve the competitiveness of organizations. This is how the objective of IEBS was born: to train the new leaders that the world demands, capable of undertaking, of innovating and of creating value in a sustainable and profitable manner, ”he added.
For IEBS, innovation is one of its fundamental axes, betting on an innovative educational model capable of meeting the needs of companies and professionals living in a society in constant transformation. For this reason, the school offers an agile and modern model based on solid values to train more responsible people who lead projects with an entrepreneurial spirit stemming from innovation, ethics and responsibility.