Innovation and change

"The lesson is clear: if you settle for the status quo, if you believe you can't change anything, you might as well stop reading right now! Business unconventionalists develop new value creation strategies, and that is not possible without passion and the determination to change things" (Foerster,A ,2009) Change is vital for a company success. In business you must keep up with the times the biggest change that has influenced businesses around the world most recently has been the technological change. This change has enabled companies to use more machines than humans which have been to companies benefit, as they are paying less for labour. However you could also argue that the technological change has put people out of work leaving them with no money to buy the goods the company are supplying.

Change can be highly demotivating for employees as it changes what you know and like. Innovation is a better way of dealing with change as the employees will feel like they are the ones who have made the change to the company and this could be very rewarding and therefore motivational for employees.
Communication is key for change as if the changes that are being made in a company are not told to every employee so that they fully understand then this would lead to demotivation and reluctance to change as they become unaware of how the business is running. If you tell the employees clearly why the changes are happening and what it is going to do for the business there should be no reluctance for change as a benefit for the business is a benefit for them.
Businesses especially in the economic climate need to make sure they are changing as being the same as another company is not going to keep them in the market any more. They need to make the most of what resources they have so making sure that the staff are aware of the company goals and asking them for innovative ideas as this will lead to success because 100 ideas are better than 1.

Foerster, A and Kreuz, P (2009). Different Thinking. London: Kogan Page Limited. p60-61