Welsh Assembly Government
Thursday 04 December 2008
Innovation: is it at the heart of your company?

Welcome to InnovationWorks

Innovation is about applying new ideas in every area of your business to make it more successful. It is a call to think and act differently - it is about generating ideas and putting those ideas into action. Innovation has a significant impact on a business. For example:

  • New companies continuing to innovate after the first 2 years have average turnovers three times higher than others.
  • Innovative companies who recognise the importance of their staff realise 2.5 more sales per employee and 1% more profitability per employee.
  • Innovative businesses can expect to show a 20% improvement across all business areas.
  • Innovative businesses are 40 % more productive. 
                                                                    (Source: Work Foundation Statistics)
  • Innovation can take place in any company, large or small, in any business sector, by any member of staff.  It can be applied to any area of your business:

  • People - getting the best contribution from everyone by encouraging, rewarding and enabling them to think and act innovatively to achieve business objectives.
  • Products and Services - developing new products and services and improving existing ones, so that you can respond effectively to ever changing customer needs.
  • Process - changing the way you do things in order to increase efficiency and raise productivity
  • Marketplaces - finding and addressing new marketplaces to grow and sustain a business.
  • Marketing - presenting your products and services in more innovative ways and focusing on identifying and satisfying the needs of more customers.
  • Find out how organisations like yours are creating success by being more innovative.

    Find out how your business could benefit from innovation:

    Start being more successful with innovation NOW - get a copy of our FREE InnovationWorks Guide.

    You can ask questions about how innovation can help your business by completing our 'Contact us' e-mail form:

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