BEHAVIORAL PRINCIPLES OF INNOVATION

Innovation is the process of creating new ideas and implementing or commercializing

them.

1. Question traditional beliefs or orthodoxies - Questions the way something has

been done traditionally and searching for alternatives that can lead to innovation.

2. Think positively and have a strong network - Innovators as well as entrepreneurs

have to believe in their ideas, and they have to know the right people to carry it out.

3. Think in terms of transformations - Always think ahead and set a plan to innovate
your ideas.

4. Embrace failures as the cost of risk taking - Failure is part of the process, and we
must learn how to embrace it. Take the lessons that you have learned from it and apply
it to your next endeavor.

5. Look to be disruptive – Companies must discover ways to disrupt the business

activities of other companies or to repel being disrupted by new competitors.

6. Welcome entrepreneurial catalysts - It is essential to acknowledge the

entrepreneurial catalysts inside the organization, for they are the ones who can help put
the company at the top and can easily stimulate innovation.

7. Change the culture - Changing culture generates a more innovative and less risk-
averse culture.

8. Impose some constraints on innovation – Constraints can be an obstacle for

innovation, especially when they become too high that they suppress creativity. But,
organizations can likely benefit from a healthy dose of constraints.