In business, being innovative is a survival skill. Companies that have made it a century after its founding know the importance of adapting to the times and new technology.
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| Image source: nesta.org.uk |
With increasing globalization, competition is also increasing. To be ahead or even level with competition, a company must have innovative plans that would later on translate to innovative products and services. These products and services must prove relevant and useful, easy to replicate, and less expensive in production. Providing something authentic encourages productivity and efficiency. The drive toward having a significant contribution to society should fuel innovation.
Social media is a form of technological innovation that companies have dived into since its advent. This plays a major role in the communication between businesses and consumers, and is a great avenue for companies to know what their consumers are looking for. With the ever increasing expectations of customers, companies must be ready to come up with products that are new, useful, and creative, to keep their customers wanting for more. They won’t accept mediocre and obsolete products and services.
Diversity also has its hand in a company’s growth. As leaders come from different walks of life, they lead with different perspectives, which is great for a business to continue to thrive. Having a diverse leadership provides more channels for innovation, as their outlooks aren’t the same, yet they lead with one vision in mind.
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| Image source: eir.co.uk |
Emile Haddad is a Seattle, Washington-based business coach who has sensitivity to differing values within the workplace that has enabled him to develop business management models that promote top-notch professionalism and excellence. For more insights, visit this blog.
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