Insights, Ideas, Results
In the modern-day business world, companies that don’t innovate will quickly get left behind. That’s why leveraging technology to accelerate business growth is crucial.
Technology leverage is the ability to create more value with stable or even shrinking resources and evolve faster. It can be achieved through a well-articulated strategy and the right mix of technologies.
When trying to innovate a new product or service for your business, following a few simple steps is essential. Creating an innovation framework and engaging with your team and other stakeholders is critical to the success of your idea. Once you’ve implemented the framework, it’s time to implement it.
Innovation is essential to keep your company competitive and at the top of its field. You must encourage innovation among their employees so they wouldn’t fall into the trap of complacency. A complacent staff will be most likely to commit mistakes, thereby affecting the efficiency and productivity of the team. You don’t want your team and your company to suffer because you’ve been too lax in your management.
Innovation spurs happiness and satisfaction between and among your employees. Encouraging innovation in the workplace ensures that your team functions highly and collaborates to keep their efficiency high. It may also spur internal competition, which can be a huge barometer for your success. When employees are challenged, they tend to work together to achieve a common goal, creating opportunities and securing the bottom line.
In the popular consciousness, Silicon Valley has kind of just taken on a life of its own. We don’t really think of it as an actual place as much as a concept and way of doing business.
These days, it’s thrown around as a term in the same way we use Hollywood, Wall Street or Washington when we are referring to filmmaking, investing and government. We’ve almost forgotten the actual origin of Silicon Valley and how it got this name in the first place.
The smart home is here. We now have the technology everywhere we go, that can make our lives easier. From operating your heating while you are away from the home, to virtual assistants that can shop for you, the Internet of Things is a major game-changer for so many businesses, and it opens up a wealth of opportunities.
Your business could benefit from the latest trends in technology that are shaping up to be the things that we will be taking for granted within a short space of time.
When you come up with an amazing product idea and you plan to launch a business, it’s so important you protect your innovation. If the idea is really as good as you think it is, other companies will want to copy it and produce their own versions and in a lot of cases, they might be able to price you out of the market if they are a large company, so you have to be very careful. People tend to think that protecting your intellectual property is as simple as putting a patent on something, but that doesn’t guarantee that nobody can steal your idea. If you are worried about your product ideas being recreated, you need to take these steps to protect your intellectual property.
Businesses of all types and sizes face competition every day from all corners of the world. Innovation is what can set one business apart from others. The rise of technology has accelerated the pace of innovation and with it the need to invest in research and development (R&D). Many people argue that only those businesses that are on the cutting edge of technology really need to worry about innovation. Nothing could be further from truth. The industries as old and stable as retail and manufacturing are being upended by the rise of technology. Businesses that do not understand the importance of innovation and fail to invest in R&D run the risk of becoming extinct. History is littered with examples of stellar companies that have gone under due to lack of R&D investment.
