Innovation tools are methods of improving idea generation within an organization. This may include both software packages and business infrastructure methods that enable creativity and sharing concepts. Innovation tools come in two primary forms. These are divergence tools, which help you generate ideas, and convergence tools, which help you analyze and combine your ideas to create the best possible final product.

Creating a competitive edge

By improving an organization’s ability to create new innovations of business operations, it can help keep the company you work for ahead of its competitors. Innovation can provide you with a more effective way of completing important tasks in your field. When you do so before competitors, it provides an edge that can increase your company’s market share and profitability.

Facilitating dynamic change

Innovation tools can help you create substantial changes within an organization. While iterating on existing business practices can result in incremental change, innovation has the potential to produce a radical shift. Making changes in the application of innovative tools can increase the pace of the improvement process within an organization.

Identifying key talent

Providing innovation tools within an organization can be an effective way to identify talented individuals. Creating opportunities for those with beneficial ideas to share with others in the organization can help you find and empower valuable employees. This may help you implement more effective techniques and also retain key employees by showing them that the company values their work.