Key Elements in Building a Culture of Innovation

I think the points that one should be looking at carefully is having an open communication I think that it's important that this be discussed and that it be discussed openly I think it's also important that innovation become part of the strategy of the company and that these things should be discussed with the various shareholders and when I speak of shareholders I don't always just mean the ownership side of a family company but also those people that work for the company who also have a vested interest and I think the other important thing is that you should also be willing to look outside your own industry and a good example is certainly in the retail industry is that we're always concerned about our customers’ needs but how we can better service them and I will always occasionally look outside my industry for example to look at how airlines good airlines service their customers and we know that airlines in North America are not necessarily ones that are geared to serve as customers but if you look at airlines like emirates, Singapore air, Cathay Pacific those airlines have been designed to really look at the needs of their customers and serve them, and I think they do an excellent job and I think it's also a great role model for anybody trying to maintain innovative technology within a company and also that entrepreneurial spirit.