Innovation and Entrepreneurship

Innovation originates in the ability to think radically and to be able to connect elements, seemingly unrelated to each other, coming from different sectors and disciplines, in order to generate New Ideas with significant Added Value.

84% of executives worldwide believe that innovation is extremely important but only 6% are satisfied with innovation performance.

Approach to Success

There are three (3) key questions, whose answers determine the innovation success performance.

  1. What is innovation and what does it consist of?
  2. What makes some companies extremely innovative while others aren’t so successful?
  3. What can we do to improve innovation?

What is Innovation and what does it consist of

Innovation = Creativity + Delivery

We can’t talk about innovation when there is no delivery.

Innovation is a Matter of Mindset that turns an idea into a solution which adds value to customers and premium equity returns to the shareholders.

Innovation is rarely accidental. It is the result of hard and consistent work.

There are 4 types of Innovation

  1. Product Innovation
  2. Process Innovation
  3. Business Model or Organizational Innovation
  4. Marketing Innovation

What makes some companies Extremely Innovative while others aren’t so successful

  • Inspirational Vision
    Innovation-driven development is crucial but requires an inspiring vision, realistic enough to quickly stimulate existing activity.
  • Strategy
    Adopt innovation as a dominant profit-making strategy.
  • Careful Choice
    Invest in a coherent and timely portfolio of initiatives with sufficient resources.
  • Dynamic Development
    Create new business models, utilizing diversified business and technological knowledge that translates into reliable, healthy and scalable profitability.
  • Reward & Continuous Motivation
    Systematically reward achievements and keep rewarding those who repeatedly innovate.

What can we do to Improve Innovation

  1. Develop an ambitious but realistic vision.
  2. Adapt to customer preferences and changes.
  3. Adopt innovation as a dominant profit-making strategy.
  4. Prioritize on innovation opportunities.
  5. Commit on making innovation a key element of our business development model and future success.
  6. Embed innovation at the heart of our goals and redefine resources, structures and the appropriate organizational team that will be responsible and accountable for.

Innovation – an imperative parameter for the Restructuring of the  Greek Economy

The restructuring of the Greek economy and the redefinition of the productive model – emphasizing on scientific knowledge and modern tech development, has to go through strong and sustainable private enterprise.

This will eventually lead economic growth, facilitate technological upgrading and be the the most appropriate social partner to boost employment, especially of highly skilled human resources.

To make this work effective, a Roadmap is required that will lead us successfully to the next day, where Innovation is the main milestone.

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