The success of any business today is reliant on not only exceptional products and services, innovative marketing, well-oiled sales stations and flawless, customer-focused operations. They are not optional; rather they are essential elements for business success. But why is the difference between future industry leaders and the ones comparative back in the pack?
Innovation. Leading for technology is crucial for success today, tomorrow and in the years ahead. Despite the fact that companies have been espousing this idea because the invention of the “suggestion box” few companies really take this principle seriously or utilize it effectively. There have to be easy ways for all employees (plus suppliers and customers) to provide ideas. The ideas have to be reviewed regularly and feedback must be provided to those who supply the ideas. This can’t be a short term “program” or task but an on-going process which become part of the way of doing business. Strategic and business planning are central to any effective company, business or other business.
Unfortunately, many get caught up in the process (annual) rather than utilizing it as an on-going chance for bubbling up new ideas and integrating them in to the short and long-term product and financial programs for the business. Many companies have reputation programs from trophies, to certificates to financial incentives for contributions to the success of the business. Frankly, the kind of award, reward or recognition is less important than the actual fact that it’s done.
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