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Ilm Innovation Essay

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Submitted By fabfab81
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AC 1.1 Explain the importance of innovation for own organisation.
I have been successfully running my own business as a self-employed trainer for health and social care for the past 3 years. All of this was made possible by using all the experience gained in this field for the past 15 years and applying all the skills and certification outcomes to find out what my client’s needs are and what it’s expected by my learners. Also complying with regulations, keep updated with resources and new guidelines.
Innovation within my organisation is about creating and successfully applying new ideas in this particular field. This could be in the form of such as creating and bringing a new product or service to market, or a series of smaller innovations such as finding better or more efficient ways of working and becoming more profitable.
Innovation is a creative process and some business ideas need an investment of time, energy and money in order to develop and deliver results. Developing a culture of innovation can be vital to my organisation’s long-term success and profitability.
There have been several reasons why I had to generate some new ideas which so far have been critical to my business’s success. Although every organisation will have its own priorities and sector-specific issues to balance, I believe business that fail to innovate run the risk of losing ground to competitors, losing key staff, or simply operating inefficiently. Innovation can be a key differentiator between market leaders and their rivals and sometimes by perhaps giving back some of what you have taken (e.g. giving a small token of appreciation, discounts or gifts during appropriate times of the year) in my particular case has been beneficial.
Some of those ideas came by responding to trends and competition, and in this particular market it can be very hard to find a good balance between charges

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