Innovation: A Strategic Imperative

Kevin Coleman is a highly skilled senior level project and program manager/advisor with experience leading projects with labor budgets ranging from a few hundred thousand dollars to multi-million dollar budgets across multiple industries.

  Estimating   Innovation   Strategy  

We operate in a business environment where time is crucial and innovation can provide a major competitive edge. That is why innovation must become second nature to organizations large and small. The more ambitious the organization, the more it tends to focus on innovation. Failure to do so can have catastrophic results. That is why innovation is becoming a much more frequent topic at the executive and board level. Historically, big issues faced large organizations when it came to innovation. The bigger the organization, the more conservative they tended to be.

Couple that with the fact that the bigger the organization, the more time and effort it took to alter its course. In fact, one executive told me it is like trying to parallel park an ocean oil tanker. That began to change a few years back. In today’s fast paced, technologically advanced operational environment, innovation is a strategic necessity. Technology-based innovation has been shown to drive organizational growth. Technology is what allows organizations to change the status quo. Traditional organizations look at technology and ask, “What does it do for me?” Innovative organizations look at technology and ask, “What can the organization can do with it?”

Innovation is the efforts and actions involved in creating something new and different--a method, idea, product, etc.--that is …

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