Innovation as a Catalyst for Growth: Insights from Dr. Bruce Vojak

Innovation as a Catalyst for Growth

Bruce and I had a deep dive into the role of innovation in driving organizational success, particularly for small and medium-sized businesses that have reached maturity. Bruce underscored the necessity of renewal—companies can't afford to stay stagnant. Not every innovation initiative will hit the mark, but every attempt offers valuable lessons. I couldn’t agree more. Innovation isn't just about flashy new ideas; it’s about fostering a mindset of curiosity and resilience.

People are at the core of innovation, and the right team can make or break an organization’s ability to evolve. We both recognized that hiring the right people is one of the toughest challenges leaders face, but beyond that, organizations need to cultivate a culture that encourages innovation. It’s not just about having the right tools or processes—it’s about creating an environment where ideas can thrive.

Innovation and Workplace Engagement

The reality is, workplace engagement is at an all-time low. I shared my concerns about the lack of innovation in many workplaces, referencing a Gartner study that found only 2 out of 10 employees are fully engaged. That’s a crisis. When organizations fail to innovate, they don’t just lose competitive advantage—they lose their people.

Innovation isn’t a luxury; it’s essential for progress. Leaders must be intentional about encouraging, investing in, and even demanding innovation. A practical step? Ask job candidates about their experience with innovation in their current workplace. Are they encouraged to think creatively? Do they have the freedom to test new ideas? Bruce echoed these sentiments, reinforcing the idea that engagement and innovation go hand in hand.

Rethinking Creativity in the Accounting Industry

Most people wouldn’t associate accounting with creativity, but Bruce and I explored why it’s critical for the industry. I emphasized the importance of curiosity and thinking beyond the traditional numbers game, while Bruce pointed out the role of pattern recognition and strategic inquisitiveness. It’s not enough to be curious—you have to direct that curiosity toward solving real-world problems. The firms that embrace this mindset will be the ones that thrive in an evolving market.

Intentionality, Motivation, and Avoiding Burnout

Another major topic we tackled was workplace motivation. Burnout is a productivity killer, and leaders need to recognize that being overwhelmed stifles both creativity and innovation. Organizations must create environments where employees feel supported, empowered, and able to navigate challenges effectively.

Self-motivation plays a crucial role here. The most innovative and successful people are those who take ownership of their growth and learning. Bruce and I agreed that renewal and change within an organization can be tough, but they’re necessary for long-term success. It’s about shifting the mindset from resistance to reinvention.

Bruce’s Work and Thought Leadership

We also discussed Bruce’s extensive work in innovation consulting. His book No Excuses, Innovation and his co-authored work Serial Innovators (both published by Stanford University Press) offer incredible insights for leaders looking to drive change. For those wanting to connect with Bruce and dive deeper into his work, his website and LinkedIn are great resources.

At the end of the day, innovation is about mindset, culture, and people. If organizations want to stay relevant, they need to embrace continuous learning, encourage experimentation, and create workplaces where people feel engaged and inspired to contribute their best ideas.

 Spanning a career at the intersection of business and technology, Bruce Vojak has experienced and explored innovation purposefully and variously, first established as a successful technology practitioner and executive in industry and later, in academia, conducting groundbreaking research on the practice of breakthrough innovation across a broad cross-section of large, mature companies and industries.

He is co-author of "No-Excuses Innovation: Strategies for Small- and Medium-Sized Mature Enterprises" (Stanford, CA: Stanford University Press, 2022), "Serial Innovators: How Individuals Create and Deliver Breakthrough Innovations in Mature Firms" (Stanford, CA: Stanford University Press, 2012). A Senior Fellow with The Conference Board, he has served on the boards of JVA Partners, Micron Industries Corporation, and Midtronics, Inc.

Before founding Breakthrough Innovation Advisors, LLC (https://www.breakthrough-innovation-advisors.com/), Bruce served as Associate Dean and Adjunct Professor in the top-ranked Grainger College of Engineering at the University of Illinois at Urbana‐Champaign. Earlier, he was Director of Advanced Technology at Motorola, held research and business development positions at Amoco Corporation and was on the research staff at MIT Lincoln Laboratory. He holds BS, MS, and PhD degrees in engineering from the University of Illinois at Urbana-Champaign and an MBA from the University of Chicago’s Booth School of Business.


SOCIAL MEDIA LINK

linkedin.com/in/bvojak