If you want to be "innovative," you have to be committed to making a change

It can be easy to gloss over the word "innovation".

It has become an ultimate buzzword, rolling off the tongues of business commentators and professionals alike.

While the word itself may be overused, academics at The University of Queensland (UQ) say it is possible to take what many may regard as a "vague concept" and turn it into a practical destination for entrepreneurs and business leaders.

Associate Professor Tim Kastelle, Director of the Master of Business Administration (MBA) program at UQ Business School, says the nature of business is changing rapidly. The key to staying ahead of the curve is to recognise what positive change needs to be done and then take the steps towards making that happen.

"There are very few high performing organisations that aren't also highly innovative," says Kastelle.

"It's central to surviving. It is important as an organisation, but at the individual level I think the idea also applies."

According to Kastelle, it is vital for business people to embrace the fluid nature of shifting markets or risk getting swamped by a sea of savvy competitors. Read more

Business News Australia - 27 Mar 2018