To survive in the new competitive environment, no enterprise can afford to stand still. In today's knowledge-driven world, new technologies appear at shorter and shorter intervals. Innovation thus should be not a one-off event, but a continuous response to changing circumstances. Sustainable innovation system doesn't not just help to solve a problem but creates a new capacity, opening up opportunities for further innovation.
Innovation is the conversion of knowledge into new products, services, processes, strategies or business models. It should not be limited to development of new products only. New processes and methods can be more powerful in helping you to win sustainable competitive advantage. All have to be open to new ideas, new ways of working, new tools and equipment, and be able to absorb and benefit from them. A policy to enhance innovation must be present in a modern enterprise policy as one of its main components.
No-one can predict the future. You can however discover the secrets of the present. Innovation is not about taking risk or predicting the future – it's about focusing on the opportunities of the present. Understand the present, study what is known and turn this knowledge into future opportunities.