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10/01/2011

Innovation for Growth

One key to driving success in any kind of economy is innovation. Sure, your company may have innovation as part of its overall strategy. But are you really delivering on the promise of true innovation?

Although there's nothing food-related about it but its name, Apple is a great example of a company that consistently delivers on innovation. Who else has come close to achieving its success given today's market realities? Apple has led in innovation for 30 years and has created a cult-like following to whom price is secondary to innovation. Since 2001 and the launch of the iconic iPod, Apple has been growing both market share and loyalty, becoming one of the largest American businesses in one of the toughest economic climates ever.

The point is, we all could stand to challenge our business models more to innovate for growth. And innovation thrives when it's embedded in your company's culture, from the top to the bottom. Anybody and everybody in your organization should be able to contribute and be rewarded for introducing innovation. Along the way, let's strip the words "no" and "we can't accomplish that" from the vocabulary of senior management.

This issue of Retail Leader is loaded with insights from some of our industry's top innovators, designed to inspire, motivate and engender out-of-the-box thinking no matter what side of the retail aisle you're on. Because ultimately, we're all after the same goal: a delighted consumer.

Jeff Friedman
Vice President/Group Publisher
Stagnito Media