It’s obvious to all of us that the business landscape is highly dynamic and changing more rapidly than it used to. Unfortunately, most companies don’t realize that it is no longer sufficient to simply react to change and except to survive, let alone thrive. In order to ensure survival, companies must take a proactive approach to change, anticipating the change and adapting before it occurs or has the ability to negatively impact your company. By spotting trends before they emerge and consistent innovation your company can be successful in the long term.
This may seem like a daunting task, so to alleviate some of the stress try using the following four tools. I’ve seen a number of highly innovative companies use these tools with much success – if they can do it, so can you.
1. Use customer insight and competitive intelligence tools that work, but be sure to test and try new ones as they emerge.
2. Use internal and external feedback mechanisms to track customer and employee satisfaction. This will enable you to quickly capture changing opinions and spot new trends, developing new ideas to reflect them.
3. Ensure your structure is lean and nimble. This structure will accommodate innovation, making it easy to develop new ideas and bring them to fruition.
4. Understand that you don’t and never will know everything. Build structures and use tools that allow your company to tap into market movements, specifically those that are difficult to foresee (a tool you may want to check out is Gambling Fund).
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