The road to innovation... what are the benefits and challenges?


El camino hacia la innovación

Every innovation consists of the introduction of novelties or the modification of existing elements to satisfy a need in a better way. These innovations are usually linked to science (knowledge) and technology (its practice). As such, innovation presents a series of benefits for the companies that develop or incorporate it, as well as a series of challenges to be faced in this process.

Benefits of innovation

Among the main benefits of innovation are the following:

  • First, adaptability and flexibility, which allows us to respond quickly to new customer demands and to the constant changes that occur in every market and business sector. 
  • Likewise, technological innovation applied to key processes facilitates data collection and analysis, generating more efficient processes and more effective results in terms of achieving objectives. Some examples of technologies that contribute to efficiency are cloud computing, collaborative work platforms, big data and machine learning. 
  • It is important to talk about the higher levels of productivity that the introduction of innovations logically implies. The efficiency gained in processes translates into a better use of organizational resources, for example, through the automation of certain activities or the incorporation of business intelligence systems to make better decisions based on data.
  • Along the same lines, innovative organizations tend to attract the best talent, which also results in higher levels of productivity. 
  • Another benefit is the achievement of better quality in processes and results, whether products or services.

In short, these benefits mentioned above imply, as a whole, greater competitiveness and better positioning in the market, ahead of competitors. 

However, beyond the innumerable benefits of incorporating an innovation philosophy in organizations, it is also necessary to talk about the challenges involved in the path to innovation.

What are the challenges involved in this process?

In this sense, it is key to establish clear objectives inherent to the innovation process, as well as to have a strategy and a feasible innovation plan. 

Another relevant aspect is related to the idea of encouraging a culture of innovation in the organization (certain shared values), thus creating an environment of creativity for employees, creating incentives for innovation, and avoiding possible resistance to change in the process. 

An additional challenge is to achieve both internal and external collaboration. In this respect, obtaining new points of view from interested third parties, such as customers or potential partners, undoubtedly enriches the innovation process. In particular, getting to know customers better and focusing innovation decisions on this in-depth knowledge contributes to the generation of products and services that are more aligned with demand needs. 

In addition, it is important to be clear about the phases involved in the innovation process and not get stuck in the project phase without moving on to the corresponding action. 

On the other hand, being able to identify the appropriate innovation tools for the particular case is another challenge to be addressed. 

Finally, technological innovation requires professionals with the necessary skills to handle new technologies, which sometimes implies resorting to expert organizations for appropriate advice. 

At Dimensiona we have a multidisciplinary team that is highly committed to innovation and adding value to each project. The philosophy of innovation is immersed in our way of working and in each objective set. Thus, the innovative spirit involves the generation of significant contributions to each of the projects and companies we work with.

We are waiting for you to work together in the innovation that your company needs!

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The road to innovation… what are the benefits and challenges?