By Sally Cai, Thomas (Spencer) Kennedy, Nicki Padar, and
Yuchen (Cloud) Guan
Critical to the ongoing success of any company is
cultivating and maintaining an innovative and creative work environment.[1]
From the booming startups to well-established companies, it is important
that companies foster a workplace that allows for the constant exchange of
ideas and keeps an open mind so that employees can be in the right frame of
mind.
A team’s
workspace can be helpful or harmful to innovation. Usually, an office or
cubicle is the main environment for work, but recently more and more companies
have started to use innovative workplaces and offsite locations to foster
innovation. In a company called Avado, people have joined them due to their
team’s vision and mission, and at the same time want their offices to be
another plus to the package. There are challenges that come with creating an
innovative workspace for example, being able to satisfy all the different types
of personalities of people. CoCo Minneapolis, a coworking space that provides
companies with offices and meeting rooms has become a popular place for
jumpstarting successful companies, including Zipnosis, a diagnostic site that
contacts clinicians and patients online. CoCo can connect students to
internships that will provide hands-on experience in the world of start-up
companies.[2]
Technology is now intrinsically intertwined with any
company’s daily activities; it allows for easier, clearer, and faster
communication, and is rapidly transforming company culture and is expanding the
definition of what “a team’s workspace” actually is. The high connectivity
technologically permits is even allowing for what is known as “virtual
companies,” whose employees’ workplace is their home computer and work hours
are flexible around family and social commitments.[3] New companies
that focus on culture—and how it affects employee happiness and
productivity—have shifted the paradigm of what it means to work. By being more
easygoing, encouraging employee bonding, and making sure employees take time
off, new companies are cultivating creativity and paving the path to future
innovation.
However, while new companies are springing up left and
right, also important is to examine how and if larger, older companies are
keeping up with the rapidly increasing rate of innovation in today’s business
world. Tech giant Broadcom is regularly on Fortune’s list of fastest growing
companies in this country, and with increases in revenue, employees, and
assets, the principles that CEO Scott McGregor utilizes are invaluable to the
study of innovation in companies. [4] Like in the new companies’
business model, extremely important to larger companies is to hire with
multiple things in mind; not just a potential employee’s specialized skills,
but also his or her aptitude with general business skills, like communication
and critical thinking, and contribution to company culture. Also similar to the
many startups, Broadcom has a geographically diverse workforce, and instead of
trying to co-locate all employees, Broadcom takes advantage of the different
time zones and cultures such that different teams around the globe can be
working on the same project all throughout the day, increasing productivity and
allowing for the sharing of new ideas. McGregor favors decentralization,
favoring a more local, team-based approach, and believes that trying to control
everything form the center discourages ownership.
It goes without saying that innovation is critical to
staying competitive in today’s business world. While each company needs to
assess its goals and build up company culture, it is evident that keystone to
effective culture is communication. With this in mind, every company can work
to create an environment more conducive to productivity and innovation.
[1] See 6 Ideas to Promote Innovation In Your Workplace This
Year, By Christian Springub | 11:00 AM November 20, 2013, http://www.forbes.com/sites/theyec/2012/12/31/6-ideas-to-promote-innovation-in-your-workplace-this-year/
[2] 100 Cool Offices and Offsites Fostering Innovation, By
Dave Chase | 11:00 AM November 20, 2013, http://www.forbes.com/sites/davechase/2013/09/17/100-cool-offices-and-offsites-fostering-innovation/2/
[3] 8 secrets of running a virtual company, By Corey Blake |
11:00 AM November 20, 2013, http://upstart.bizjournals.com/resources/advice/2013/09/27/creating-a-powerful-internal-community.html?page=4
[4] How Large Companies Can Stay Innovative: 5 Lessons from
Broadcom, By Rob Asghar | 11:00 AM November 20, 2013, http://www.forbes.com/sites/robasghar/2013/09/23/how-large-companies-can-stay-innovative-5-lessons-from-broadcom/
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