Media Business Transformation in the Workplace: Creating a Culture of Innovation

The lessons of business history have taught us that there is no such thing as a static market. Global competition and the power of intelligent networking have engendered a new competitive spirit that cuts across countries and companies alike. This is particularly true in the field of media and telecommunications where once great companies fall victim to creative destruction;supplanted by the next communication start-up company with a good idea. From the original AT&T Bell Labs to the modern-day Googleplex, the history of innovative discovery is really the study of how organizations set out to problem solve. One of the goals of highly successful companies is to make innovation a sustainable, repeatable process. In order to accomplish this, innovative companies create the right kind of culture in which to do good work. This article will look at the challenges associated with new product development and how good companies go about creating a culture of innovation and discovery. The second part of this article looks at the qualities and characteristics that make innovation a sustainable, repeatable process. Special attention is given to such ideas as the importance of risk and experimentation, creating the proper workspace, mobility and virtual communication, serendipitous connections and the value of external partnerships and collaboration