Businesses that are not always on the innovation ball, always pay the price. In the old days, the price was paid in the form of missed opportunities. But of late, the lack of innovation is the leading cause of organisations dying.
This is because, category after industry category, is disrupting the market through new inventive forms of product, delivery, payment and engagement with consumer. To stay relevant in such an environment of customer centric marketing, it’s become all the more important to transform.
Our idea of transforming a business is not just a logo change or an exercise in advertising communication. We work on internal culture, key signifiers of which are, what a company celebrates, what it rewards, what it punishes and what it does not tolerate. These are studied, so we can create new systems, principles and rituals of people planning.
For example, if you’re an innovation company, you can’t only reward performance, you must also reward behaviour. Else you end up with people who won’t take the risks that are crucial to innovation. In this case, the company would do well to even reward failures, for the foundation they lay for newer, bigger, better ideas in the future. And it’s rituals like these that create opportunities for innovation and problem solving.