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Innovation As The Arrow-Head To Business Dynamics

By Faith Ekong

Blessing Joseph by Blessing Joseph
September 24, 2024
in Articles & Resources, Business
0
Innovation As The Arrow-Head To Business Dynamics

Image Credit: dreamstime.com

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Innovation is not Invention, know this and know peace!

Besides, what is innovation – this is simply known as the new way of doing invention

Innovation is all about ideas or creativity to an existing product or service

This being said, let’s delve into the knowledge. Obviously, for any business to progress, its operations and affairs must be dynamic. The dynamism of a business is the flexibility and creativity needed to streamline the operations and affairs of a company or startup.

In time past, we always have had a way of doing things and it is clear that those strategies rarely work well even when executed properly in today’s fast-paced world, and this has craved a solution to the challenge; Here Comes Innovation. Those who do the same thing should not expect a different result. One of the critical reasons startups and businesses are being replaced by their competitors is the lack of innovation. This is why Yahoo was replaced by Google and Walmart is not being replaced by Amazon. The inability to adapt to trend change is not always forgiving unless with the experience of a visionary-spirit-filled leader. Truth be told, nothing last forever – most businesses will be replaced, most will not be (chances are low). Certainly, as a business leader or CEO, your earnest wish is to be ahead of your competitors and unless you act, you will be the best wisher in your industry. 

Consequently, you could think of innovating to stay up-to-date, unless you innovate in the right way, you will experience little or no growth in real time.

How can I innovate? – INNOVATE!

Innovate in operations – This has a lot to cover. Right from financial operations to deliveries, you ought to, as a leader, step up your game. Innovating in operations has to do with making use of various technological software or services to streamline and automate strenuous jobs. It could be automating reply to a sent mail, automating onboarding of clients and automation and scheduling of content on various platforms. Precious time should not be all allotted to these tasks and leaving crucial meetups for the development and progress of the organization pending. There are various service providers that could be used to automate tasks depending on what is intended to be done, such as Microsoft services. Automation saves time and gives speedy operations (though speedy operations should be well observed to avoid error). 

Innovation in hiring: Entrepreneur of all times one said – we hire people not to show them what to do but for them to show us what to do. Truth be told, beyond boundaries, we have intrinsically creative people otherwise there could have been no innovation talk less of invention. This is the reason emphasis are being laid on Human Resource managers not just to hire through sight but beyond sight and deploying inclusivity, neglecting biases. One should prefer to hire a Class C person who will improve than a Class A person who will bask in past glory, thus putting the scaling of your business or startup to chance. In order to stay ahead of your competitor, innovate in hiring and onboard skills not grades into the team. “creativity pays in pounds | knowledge pays in penny” 

Innovation in collaboration: Self-dependence is good though self-reliance is not good. In a world of strength, collaboration is what bridges the gap of weakness. Another ample reason approximately 90% of founding startups and businesses do not stay strong is also as a result of total reliance on their capacity to operate even when it is obvious that they cannot sail without a sailor as they still want to try with a fisherman (he paddles boat not sails ship). As a startup that seeks to excel above competitors, it is crucial to delegate most work to those who are capable, embracing collaboration in order to avoid exhaustion leading to decreased creativity in the team. “the tree of innovation is made up of various roots of collaboration”

This being said, the center of it all is to be innovative in strategies taken. 

Do not be skeptical in knowing what works better in your structure. 

Never settle for what is not acceptable. 

Aim to deliver value in every choice which will have effect on users of your product or service.

You are on steering, be decisive | be creative

Concluding this, I reiterate “innovation is not invention” Both work together to achieve a common goal and none can do without one – similar to a boat without a paddle. If invention must thrive, innovation must accompany it. The similarity between both is the ability to bring solutions. They (INNOVATION AND INVENTION) give value to those who crave for it. invention creates the path, innovation leads the path.

word of the blog – dynamic(c) (sm)

what is new… (we have added a task to our article – comment below)

what are your IDEAS for the buzzword 

i –

n –

n –

o –

v –

a –

t –

e – 

 

…STAY TUNED FOR Article 5 – A TRUE BUSINESS LEADER

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