2 minute read
President’s Perspective
Katya Watson, CAM
CREA Management 2022 AAA President
CHANGE AND INNOVATION: AN ESSENTIAL PART OF GROWTH
Let’s face it, innovation is difficult for any business. Can you imagine if Coca-Cola threw away its decades of marketing strategies just for the sake of being different? There are some risks involved, so it’s important to understand what makes an idea innovative.
When we think about the definition of innovation, we usually think of it as a creative process that results in product or service improvements and changes. Innovation is fundamentally a social and environmental phenomenon. It’s rarely “something old turned into something new” or “new research on old practices”. It is a large and complex endeavor that requires a set of crosscutting practices and processes to structure, organize, and encourage it. Still, there’s no proven formula for success when it comes to innovation. As with any creative process, innovation requires some key elements: thought, planning, and a channel of feedback before you can implement it.
Innovation can be a slow process—whether you’re trying to innovate, adapt, or change which can sometimes be a departure from the status quo. However, you must start somewhere after a thoughtful vision has been established. Innovation is about identifying and developing differentiated insights that can stimulate new ideas. This is the kind of insight that can solve a particular problem or provide new processes, or technology, that enables a targeted solution or goal. Innovation also requires purposeful and actionable insights—the kind that inspires and brings new divisions into existence.
While innovation is inherently risky, innovation initiatives are more about managing risk than eliminating it. You may ask why do somethings need to have such a significant change? We all know most are reluctant to risk tampering with practices and procedures until, of course, it is apparent results are not being achieved. At that point, they can only hope it’s not too late, and sometimes, we get in our own way to innovate. The more quickly and regularly a project team procures—and uses—feedback, the quicker it brings a great result.
As hard and as scary as it may be, change is a necessary part of growth. It should promote collaboration, innovation, and align with our strategic priorities to maximize the chances of success. One thing is certain, we have not been strangers to change and innovation these past 21 months navigating through a pandemic. While the Austin Apartment Association may be redefining processes and services today to meet targeted goals to better service our industry and its members for tomorrow, this time, we all have the opportunity to speak up, share thoughts and make an impact on the adjustments for the future.
I am humbled and honored to represent the Austin Apartment Association, its members and industry alike, and can’t wait to see us work together to be leaders of change and innovation. Cheers to a new year!
Sincerely,
