Here are some practical suggestions.
1- Have a vision for change.
This means that you have to know, understand, develop and implement changes in technology, services and customer demands in local and global markets. Talk to your organization, give the details of the short and long-term marketing and innovation strategy and be sure that all of your team understand the purpose and they have an excellent commitment to achieve the goals.
Therefore, spend your time to develop and implement the vision, goals and challenges. Create candor effect in the organization. Inspire your people to become passionate and entrepreneurs for finding innovative ways to create a competitive and high performance organization.
2- Fight for change
Systematically and continuously demonstrate the crucial importance of the change. Be sure that you are not staying on the table and rest on your laurels. They have to take some risks to achieve transient competitive advantages. Leaders have to help people embrace change.
3- Think like a venture capitale investor
Use a portfolio approach, prepare and consider more and more handful proposals and balance the risk of losing with the upside winning in today’s hypercompetitive business conditions.
4- Have a dynamic suggestion scheme and knowledge management strategy
Create a candor effect and an innovation culture that looks for new ideas, new technologies, new services and new customer needs to develop and implement more and more transient competitive advantages in increasing waves in the organization. Therefore, leadership establishes great suggestion schemes that are open to all. She or he uses networking and external sources.
I have to say that recognition and response are important to achieve organizational alignment, fastest speed, operational excellence, productivity and innovations. Senior leadership has to have a whole-hearted commitment to keep people fresh, properly managed and successful.
5- Break the rules and be disruptive
Look at to the outside. There are many local and global companies. They are competing to create more customer loyalties and focus to increase the number of customers and increase the growth and profitability. Therefore, senior leadership must find new disruptive opportunities that develop and implement goods and services customers want.
6- Give everyone two jobs to foster innovation
Give your people two key objectives of your organization. Ask them to run their current jobs in a more productive way and at the same time to search, find, develop and implement new ways to do the job better than competitors through regarding what customers want to have.
Therefore encourage your people to ask themselves these questions “what is the main purpose of my role in this company. What is the outcome that I have to deliver that is a real value to my clients that includes internal and external). Is there a better way to deliver that value or purpose?”
According to my experience in multi-industries, most people don’t ask such questions.
7- Collaborate for innovative excellence
I have to say that internal resources can not be sufficient to support innovation and competition in today’s hypercompetitive business environment. Therefore, senior leadership have to collaborate with other local and/or global organizations that have complementary skills to partner with.
8- Welcome failure to build a stronger innovation culture
Encourage a culture of experimentation. Be agile and give people a freedom to innovate, experiment and succeed. Give also the freedom to fail too. Thomas Edison tested over 3000 filaments to create a light bulb.
Build prototypes to create more transient competitive advantages
The best way to see the performance of the new product or service, go to the real market, test it in a small place, see the customers’ reactions. This is better than focus groups and laboratory environment.
9- Be passionate about innovation and growth
Focus on the objectives and issues that you want to change, the most important challenges you face and be passionate about overcoming them to achieve a competitive growth and customer value. Your commitment, energy and excellent drive will translate itself into the direction and inspiration for your people in the organization. Therefore, you have to have evangelists and passionate supporters who believe that reaching the destination is really beneficial for the company and people. Don’t fill your bus with contented and complacent people and eliminate disengaged and negatives. You have to create excellence in communication with your people and speak what you believe and your passion. Of course, you have to recognize and develop your people and reward the success.
10- Make competitive intelligence
Search on the new technologies, services, customer needs, living styles, market changes, competitors, the future of the sector and other factors for local and global business world. Take a systematic and continuous action about your marketing and innovation objectives and regularly improve them. You have to apply a long-term competitive business strategy while improving your short-term strategy. Of course, you have to make sector analysis and make a healthy disengagement if necessary.
Thank you for comments and shares my articles!
Yusuf Tokdemir is a manufacturing operations excellence, innovation, productivity and performance expert, entrepreneur, chocolatier and keynote speaker who helps leaders and teams improve output, execute faster, and increase profitability in the food (food and beverages, infant foods, chocolates, bottled water and agro-foods) and the pharmaceutical industries.
You can directly contact me by telephone.
T +90 533 3938268
If you want to get more productivity and profit; hire Yusuf to work with you or speak at your next meeting!