Cultivating An Innovative Business Environment Within Your Company
Innovation is a powerful word, and it can lead many business people to create companies like Google, Amazon, Apple, Microsoft, and many more. And what makes these companies so amazing and unique is that they are a result of powerful innovation.
Innovation, in its basic form, represents something new. But even with a simple definition like that, adding innovation to business can be difficult. So now you must be wondering, what exactly is the big secret to making the next best thing?
Let us consult the professionals in the industry. Naveed Sherwani serves as one of the most renowned Pakistani-American semiconductor industry veterans, researchers, authors, and serial entrepreneurs around the world.
Since he entered the professional sector, has been recognized as an innovator and leader within the design automation field of ASICs and microprocessors — including being one of the few main drivers in the worldwide adoption of the RISC-V open instruction set architecture (ISA).
In 1999, he co-founded Intel Microelectronics Services — a division of Intel that eventually became the leading provider of ASIC solutions using an open framework of foundries and IP. And with Sherwani leading the venture as the general manager, Intel Microelectronics Services pioneered a high-volume back-end design centre within India. He also founded and served as the President, CEO, and Chairman of PeerNova — a prestigious company that is centred on technology solutions based in blockchain technology.
Moreover, he has also held the position of Chairman of the Silicon Federation that comprises four silicon companies such as SemiFive, LeapFive, StarFive, etc. Additionally, these companies individually focus on distinct strategic and regional focus in order to maximise the creation value and adoption of RISC-V.
Through his work examples, we have come up with a few ways you can add innovation to your own company and take the first step towards business progress.
Making Productive Decisions as a Team
Effective decisions come to a halt when there are too many options, and you are unable to choose one single solution — thus derailing many teams and projects.
Layering on a number of approvals to make a decision can kill innovation, and when teams do not feel they cannot be trusted with the right choices, they can quickly lose confidence in their skills. It would be better to empower your team through different decision-making skills where it can help them come up with ideas for the business. Plus, when they feel confident enough to have their ideas acknowledged, they gain more confidence and come up with more innovative ways to go about business operations.
Listening to Customers
Sometimes the best ideas can come from customers, giving you the edge to discover new innovative plans for your business.
Customers are excellent sources of ideas and can even lead you to decide on what your next priority should be. Take your time to consult with each customer’s feedback, listen to their calls, and review customer suggestions, and maybe you just might find what you are lacking in your business and figure out how you can improve things for the better.