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Businesses that actively pursue innovation generate more growth and profits than those that do not. Plus they usually enjoy higher brand awareness and appeal.
Innovation is about introducing something new or doing something in a new way. The goal of innovation is to take an idea from concept to commercialization and improve business performance. An innovation can be a new product, a new process, or a new way of doing business.
"Acting small" means looking at and managing the details of your business and the task at hand. How will you deliver the right products to the right customers right now? How will you deploy your resources for making new products and doing new things today? Focus on sales and keep an eye on costs. Don't even think about strategy and such things. It's time to act, now!
Many employees are preoccupied with managing day-to-day operations and "putting out fires." They don't see opportunities because it's not their job to innovate.
But others have their heads up. They see more and know more. They develop more new products. They sell more to new customers and new markets. Innovation makes their products and company stand out from the competition. Innovation puts their organization on a path of sustained growth and profitability.
Source: Industry Week, http://industryweek.com
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