Continuous Innovation: Advantages And Challenges

Continuous innovation is the process of maintaining forward momentum through new activities and ideas that help a company stay competitive in today's market. Despite having been around for over a decade, many businesses still use outdated methodologies that hinder innovation. The benefits of continuous innovation include increased productivity, employee engagement, business growth, and excellent customer service. However, some of the challenges include a lack or abundance of ideas and the difficulty of prioritizing innovation along with other business priorities. Still, organizations can encourage innovation through communication, training programs, rewards, and competition.