Is your business, or are you, a LEADER, an INNOVATOR in your market sector? For your product, service or market, innovation may not need to be significant. Innovation is about delivering something that is unique, different from your competitors, that your customers value. Businesses must continue to transform and evolve, to embrace innovation, in line with the rest of society. It’s no secret that a successful business is one that has the ability to change and be progressive in order to meet market demands.
Risk is found in change. Every business undergoes change; sometimes change is embraced and other times it is forced on them. Many businesses avoid change, and consider it to be unnecessary even when things are looking desperate. Whether it is in product or service development, creating a project, through divestment, acquisition, internal restructuring, or competing market requirements, change is necessary to maintain your market, and be there for the future.
A business that can adjust and improve recognises that it is staying relevant. Beyond Your Horizon works with the organisation to foster and recognise innovative opportunities for managing change, and assists in the process step-by-step to make it efficient and effective. Successful management of change ensures a business plans for the transition, with appropriate contingencies. Adopting innovation has to be seen as the norm, and the way of keeping ahead of rivals.
To remain competitive in today’s constantly changing marketplace, your business must be both sustainable and innovative, to differentiate yourself from the competition to achieve market share, and be there long-term. Innovation and Sustainability will be achieved through:
improving efficiency to help reduce costs and wastage, and using resources to their full potential; utilising available capacity of equipment and materials; utilising and retaining skills, knowledge and experience of personnel; the right people in the positions; maintaining equipment and premises for longevity and effectiveness. Improvement provides lower prices to consumers while maintaining profitability.
Identifying and implementing new processes, products, services and solutions; improving your systems; enhancing your products lifecycle. Can you create a new market or profoundly change your existing one?
No we are not saying you can be innovative or sustainable by just thinking differently. But it does take a different mindset to see opportunities. Creative ideas which lead to innovation come from a diverse set of minds looking at things hypothetically. They require time, encouragement, the right people, and being purposeful to unearth the treasures within.
Without innovation, a business will only survive as long as the products and services it offers are still valued by the market. Innovation can be initiated through new opportunities in or collaboration with industries where there is potential for strong growth or working together to achieve new markets.
Truly sustainable businesses don’t sacrifice their financial gain; in fact, they prove to be more profitable providing themselves and their customers with a competitive advantage. To be sustainable though, a business must focus on the long-term outcomes not just profitability.
For a business to last and be there in the future, leaders in the business need have to have the:
We have used the term “change” throughout the text, but the word “change” typically considers or allows for reversal. We focus on transformation, which is irreversible change; like a caterpillar to a butterfly, there is no way back. To go back suggests that what we had was acceptable and where we would prefer to be.
At Beyond Your Horizon, we help you and your business achieve SUCCESS, to be resilient, purpose-driven and embrace transformation.
The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.
George Bernard Shaw