Innovation is essential for a firm's profitability and national economic growth, driving impact effectiveness for non-governmental organizations and donors. It comes from the Latin verb "innovate," meaning "to renew." There are three types of innovations: efficiency innovations, which aim to do more with less, and sustainability innovations, which focus on making a good product better.
Efficiency innovations aim to cut costs and create jobs, while sustainability innovations focus on making a good product better but don't create much growth. Disruptive innovations often emerge in markets that large corporations ignore, often from misfit start-ups. To become more imaginative and innovative, one must let go of their ego in business, believe they are right, and be aware of their thoughts.
Breaking breakthroughs often begin with breakdowns, so it's crucial to think differently. To think differently, sit quietly, close your eyes, and focus on your breath. Human brains are like monkeys in a fruit tree, constantly seeking to quickly pluck the juicy rewards. Learning mindfulness and embracing beta waves can help us become more imaginative and innovative in our businesses and lives.
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