Srivas Prasad was recently appointed president of Milsco Manufacturing, a Milwaukee-based leader in the design and manufacture of innovative seating solutions utilized in powersports, turfcare, heavy equipment and agricultural and construction applications worldwide. He says growing, dynamic companies foster a sustainable culture of innovation.
“Much has been made of the vital role that innovation plays in business success and growth. And yet, many companies have a difficult time of making it take hold within their organizations. The reason, I expect, is because this demand for transformative thinking is rarely accompanied by the cultural shifts necessary to make it a reality.
“Fostering a sustainable culture of innovation requires leadership to remove certain boundaries. Employees must be empowered to take risks and given the freedom to fail – and fail often – during the idea creation process. After all, with each botched attempt comes discovery and, eventually, breakthrough thinking. Because businesses have a finite amount of human and financial capital, however, leadership must be able to articulate the strategic framework for the business to ensure teams aim in the right direction.
“The world is changing rapidly, as are the needs of customers and the ultimate end users of our products and services. Thus, it is paramount that leadership and employees are conditioned to recognize future trends and anticipate unarticulated needs, and incorporate them into the solutions they create. Innovation doesn’t happen by jumping at every customer demand. It happens by applying insight to ideas, transforming those ideas into value and being able to clearly convey that transformative value to customers and stakeholders.”
President, Milsco Manufacturing
Industry: Seating manufacturing