‘Every successful innovation can become your unique selling proposition’
Every business is in the business of innovation. Your company may be operating in any industry but innovation is your main business. Peter Drucker once said that business just has two core functions-‘Innovation and Marketing’. The reason why so many businesses fail to survive beyond the first 20 years is because they fail to innovate their products and processes faster than their competition does. When the organization is small, it is agile but once it is big it becomes less and adaptable to the business trends.
Innovation Team led by a Chief Innovation Officer
We always suggest our clients to form a team that solely focuses on building the innovation engine within your organization. It does not have to be a huge team but do ensure that their KRA/KPA’s include- product innovation, operational efficiency, and improving customer experience. They should always be scouting for industry breakthroughs and best practices and then implementing them at your organization.
- Amazon Vs Flipkart- Speed matters a lot in business. If amazon had sensed the e-commerce opportunity in India as early as Flipkart did, then things would have been very easy for them. Yes the battle is still not over, but the right time to kill competition is when it is small.
- Nokia and the smartphone wave- We all know that Nokia was the mobile handset giant that missed the smartphone wave. As a result a company once valued over 100 billion USD had to bite dust at the hands of innovative competitors like Apple and Samsung.
Make sure when it comes to innovation, your company is the industry leader.
Learn to work on your business rather than in your business. You get great insights for innovation when you get into the observer mode.
#Siddhartha#Sharma is the CEO of #Success#Monks and the bestselling #author of 5 books-
- 60 Keys to Success with NLP,
- Love Your Mondays & Retire Young and
- The Millionaire Entrepreneur.
- TGIM-Thank God It’s Monday
- Mom, I got the Job
He is an #OB#consultant, #corporate#trainer & #NLP expert who conducts peak-performance workshops on leadership development, team excellence, business#innovation & sales mastery. Success Monks workshops and seminars have transformed lives of over a million professionals and students. He also writes a weekly column called ‘Success Monk’ in Indian Express.
To invite Siddhartha as the OD consultant mail- firstname.lastname@example.org .