Innovation, a necessity for organizations to get competitive advantage and business perennity

Abstract

Innovation is extremely important for organizations to prosper in the current market, but achieving success using innovation may not be such a simple task, as each organization needs a different form of innovation given its specificity and the objective it intends to achieve. One way to identify the best way to innovate for an organization is through the Value Proposition Canvas, because through it it will be possible to draw the profile of customers, understanding their pain points, in order to satisfy their needs. Thus, organizations can innovate through the aspects of products and services, value proposition, processes, marketing, organizational, among others. However, this is just the beginning of the innovative process, as innovation must be understood and incorporated by everyone in the organization, a very important factor for its operation. In this way, it is necessary to install the innovation mentality within the organization, stimulating creativity, allowing failures to obtain improvements, and promoting a collaborative environment. Using flexibility, training knowledge, and recognizing the accomplishments of employees will be essential to create a culture of innovation, thus providing competitive advantage and business continuity. This paper aims to highlight the need for innovation in organizations, identifying in which areas innovation can occur to obtain competitive advantage and business continuity, how to install an innovation mindset within organizations, noting which resources and practices are used to create this culture of innovation, and understanding its concepts and importance.