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How to build an innovative team

You need exemplary leadership, confident teams, excellent communication and time for strategic thinking if you are be successfully innovate. Too much to ask? Siobhan Soraghan shows how it’s done

Economic analysis

Let’s start by defining innovation. Simply put, it’s nothing but solving problems and taking advantage of opportunities effectively. However, in an organisational setting, it’s not just about coming up with new and better ways of operating, but also about adapting to, and even anticipating, the change in your stakeholders’ needs. This can translate into changes in products, processes, the whole organisational model and even its raison d’être. In a world that’s volatile, uncertain, complex and ambiguous (VUCA), innovation is not an option – it’s essential for survival.