This first part of a two-part series on finding innovation presents five ways of thinking big for finding ideas and opportunities for innovation and growth. Part two Acting Small For Innovation And Growth presents four ways of "acting small" and managing the details for innovation. Depending on the task you are trying to accomplish, switch wearing these two hats to be more innovative and get the best results and performance.

Today, a sale was lost to a low-cost foreign supplier. The cost of materials went up. A broken machine stopped production. So many things, so little time. What should a manufacturer do? By stepping back and thinking about the big picture of your business, you will see areas ripe for innovation.

Businesses that actively pursue innovation generate more growth and profits than those that do not. Plus they usually enjoy higher brand awareness and appeal.

Innovation is about introducing something new or doing something in a new way. The goal of innovation is to take an idea from concept to commercialization and improve business performance. An innovation can be a new product, a new process, or a new way of doing business.

"Thinking big" means looking at the big picture of your business. Look above and beyond your existing products, customers and competitors. Start with the global economy. Narrow it down to where you can reach and fit in. To get a better end result, aim high at this stage. Think about high-level objectives, strategies and collaboration. Don't worry about the details now.

Innovation can come from anywhere or anyone inside or outside an organization. The main ingredients of successful innovation are a fresh perspective, a diverse source of ideas and an open environment.

Understand The Trends And Drivers In Your Industry

The pace of innovation around the world is increasing and is driven by five major trends:

• Increasing global competition -- Free trade, capital mobility, labor mobility and global knowledge enable companies large and small to compete in markets anywhere and everywhere. Your competitors could be anyone from anywhere.
• Increasing advances in technologies -- are providing endless opportunities for new types of products and services. The development of some technologies is increasingly rapid or complex and requires the resources of more than one organization.
• Changing and diverse market needs -- Demographics, politics, cultures and society are changing in different ways in each local region. More people around the world can afford to buy new and better things. Consumers want to have choice and control, to interact with others, and to express their individuality.
• Increasing volatility of natural resources -- Changing supply and demand of energy and raw materials affects their prices. Companies must assess their exposure and minimize their risks.
• Increasing environmental concerns -- Changes in the Earth's air, land and seas are driven by natural effects and increasingly by the effects of man and industry. People want more environmentally friendly products and sustainable business practices.

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