Innovation is both challenging and rewarding and essential for excellence in management. I have learned that a corporation has to face new challenges all the time. We have to keep changing strategies, goals, and our approach to meet the changing scenario constantly. For instance, environment and ecology were unknown words till a decade back. Today, they are encompassing. A new factor has been thrown in. Similarly, constantly to face up to these challenges, one has to innovate to survive and excel.
I must stress however that innovation, also faces impediments from the inertia of the status quo, which inhibits people from making innovations. Yet, corporations need to break the status quo all the time. Established norms and methods of doing business must be questioned if we want to progress. Innovation is questioning and challenging the existing for something better, more exciting and more rewarding.