In case no one else has told you, the sky is falling. According to an article in the New York Times today, we’re going to hell in a hand basket, at least for the time being. This puts people like me who work in the innovation field into a bit of a bind. I whole-heartedly support (actually vehemently encourage) employers to consider how and how much each member of a team adds value. I’ve seen too many companies burn money in the street because they’re uncomfortable with asking every team member to articulate how they add value. And companies are worse off for it.
What I do object to is the idea that areas such as innovation, product development, and research are luxuries. Prada shoes are a luxury. Gourmet meals at 5-star restaurants are luxuries. Innovation, product development, and research are a company’s lifeline to the future.
Paull Young from Converseon sent me a blog post yesterday that is so good, I have to pass it on. http://bankervision.typepad.com/bankervision/2008/06/innovation-is-a-luxury.html
In the post, James Gardner, who works in innovation at a UK bank, talks about the five ways that innovators within companies add value. And suggests that if we wants to preserve our place within our companies, we should develop each of these five areas: invention, influence, entrepreneurship, thought leadership, and sponsorship.
The trouble I see is that areas like innovation are viewed purely as a cost – a nice to have if you can get it for $0. Bad idea. Innovation is an investment. Over time, it generates cash flow and does wonders for getting the best and brightest minds to beat down your door to play a part. And with tough times ahead, that talent is the only way a company is going to save itself from going under.
Picture above can be found at: http://www.aqua-aerobic.com/images/aquaology_innovation.jpg
Published by Christa Avampato
The short of it:
Writer. Health, education, and art advocate. Theater and film producer. Visual artist. Product geek. Proud alumnae of the University of Pennsylvania (BA) and the Darden School of Business at the University of Virginia (MBA). Inspired by ancient wisdom & modern tech. Proliferator of goodness. Opener of doors. Friend to animals. Fan of creative work in all its wondrous forms. I use my business skills to create passion projects that build a better world. I’ve been called the happiest New Yorker, and I try hard to live up to that title every day.
The long of it:
My career has stretched across Capitol Hill, Broadway theatre, education, nonprofit fundraising, health and wellness, and Fortune 500 companies in retail, media, entertainment, technology, and financial services. I’ve been a product developer and product manager, theater manager, strategic consultant, marketer, voice over artist, , teacher, and fundraiser. I use my business and storytelling to support and sustain passion projects that build a better world. In every experience, I’ve used my sense of and respect for elegant design to develop meaningful products, services, programs, and events.
While building a business career, I also built a strong portfolio as a journalist, novelist, freelance writer, interviewer, presenter, and public speaker. My writing has appeared in The Washington Post, The Huffington Post, PBS.org, Boston.com, Royal Media Partners publications, and The Motley Fool on a wide range of topics including business, technology, science, health, education, culture, and lifestyle. I have also been an invited speaker at SXSW, Teach for America, Avon headquarters, Games for Change, NYU, Columbia University, Hunter College, and the Alzheimer’s Foundation of America. The first book in my young adult book series, Emerson Page and Where the Light Enters, was acquired by a publisher and launched in November 2017. I’m currently working on the second book in the series.
A recovering multi-tasker, I’m equally at home in front of my Mac, on my yoga mat, walking my rescue dog, Phineas, traveling with a purpose, or practicing the high-art of people watching. I also cut up small bits of paper and put them back together as a collage artist.
My company:
I’m bringing together all of my business and creative career paths as the Founder of Double or Nothing Media:
• I craft products, programs, and projects that make a difference;
• I build the business plans that make what I craft financially sustainable;
• I tell the stories that matter about the people, places, and products that inspire me.
Follow my adventures on Twitter at https://twitter.com/christanyc and Instagram at https://instagram.com/christarosenyc.
View all posts by Christa Avampato
In case no one else has told you, the sky is falling. According to an article in the New York Times today, we’re going to hell in a hand basket, at least for the time being. This puts people like me who work in the innovation field into a bit of a bind. I whole-heartedly support (actually vehemently encourage) employers to consider how and how much each member of a team adds value. I’ve seen too many companies burn money in the street because they’re uncomfortable with asking every team member to articulate how they add value. And companies are worse off for it.
Christa Avampato 
But there is one major problem with considering innovation to be an investment. You need to justify an investment (in terms of returns or ROI) and in the absence of any accurate measuring process that cannot be done.That’s a good point you mentioned about how a company that focuses on innovation can attract better talent and therefore will be more successful in the long run. In fact we at Mahindra recently started a corporate blog (mahindrauniverse.com) where innovation is one of the main topics of discussion. I would like to get your views on it. How effective do you think this would be in shaping the way not just prospective employees but also our customers perceive the brand?
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Hi Aditya,Thank you very much for reading my blog and leaving this comment. I appreciate you raising the issue of ROI. It is actually possible, and I think preferable to measure and track the ROI of innovation. Here are a few articles that discuss measuring the ROI of innovation efforts. http://www.informationweek.com/blog/main/archives/2007/08/the_roi_of_inno.htmlhttp://www.fiercecio.com/story/the-roi-of-innovation/2007-05-08 I am happy to read mahindrauniverse.com and give some feedback. All best,Christa
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