Startup businesses are generally credited for developing innovative ideas. These concepts may not always be successful, but forward-thinking new companies continue to innovate. Unfortunately, established businesses have the opposite reputation and are often perceived as stagnant.

Within your business, how can you foster innovation and disrupt the norm, instead of being disrupted by startups just now entering the market?

Foster Creative Thinking

A Forbes article notes that waiting for innovation is sometimes like waiting for a miracle. Yes, sometimes remarkable events do happen, but more often than not innovation is the result of a long process that involves intense creative thinking and problem-solving skills.

In the past, business schools placed a heavy emphasis on the practical aspects of running a business and not enough focus on the art of business — that is, the out-of-the-box thinking that leads to innovation. As business curriculums evolve, more Executive MBA (EMBA) students are encouraged to look at business management from a fresh perspective.

Jason Zook created an innovative marketing method when he started the IWearYourShirt company. Writing for Inc. magazine, Zook outlines some ways to boost your creative thinking. One powerful suggestion involves a "no bad ideas brainstorming" session. You and other members of your team spend about an hour — without technology — discussing any ideas that come to mind, and you’re not allowed to judge the ideas during the session.

Use Your Resources

Startups use their blank-slate status as a launch pad for new ideas, but the problem they often face is a lack of adequate funding. Investors may hesitate to take a chance on what could either be the next big breakthrough or the next idea to fade into obscurity.

Established businesses may hesitate to stray from the framework in which they already operate. This hesitation can turn into a handicap when you consider that these businesses often have all the resources they need for fast-paced innovation. While you don’t want to risk your business on a gamble, you should consider allocating some funds to developing ideas that are a step outside your normal comfort zone.

Pursue Different Types of Innovation

Two different types of innovation exist: breakthrough innovation and incremental innovation.

Incremental innovation involves taking small steps toward an overall goal. The changes that drive incremental innovation may take place at an organizational level and in the specific products and services that your company offers. Breakthrough innovations, as the term implies, are significant changes that make an immediate impact.

By pursuing both types of innovation at the same time, you ensure that your business makes continual progress while remaining open to attention-grabbing discoveries.

Innovation is the primary cornerstone of advancement in business, but established businesses do not always have an easy time working out-of-the0box. However, by making wise use of resources, pursuing different types of innovation, and fostering creative thinking, your business can innovate as well as — if not better than — startups.