Innovative Activities that will Shape your Business in 2016 - 2

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In part one of this series (read here); I highlighted three major innovative activities that will influence business activities in Nigeria come 2016. These

activities were bore out of global needs and necessities, and no single business has absolute control over them, but each business aligns its structure and strategies to fit into the global business network. Although these activities are out of control of your business- because they are external to companies; as a smart business owner, you can leverage on elements that propel innovation within your company to help you manage them.

In this concluding part, we will examine internal activities that aid innovation while shaping you business practices. You, just like other entrepreneurs will be unleashing new ideas in 2016, the success of some of the ideas will depend on your ability to manage these activities.

Corporate Culture

Your corporate culture determines how quick and radical your business can innovate. Entrepreneurs often make the mistake of focusing on generating new ideas, however, the quality of your new ideas as well as your new products and services are a function of your corporate culture. Many small businesses don’t have a defined business culture that is dynamic, and outlines how they come about new ideas/products. Most organisations that have topped their industry in terms of innovation have dynamic organisational culture (- culture that moves with the trend) that gives room for independent thinking, exploration and adaptation of new ideas. In 2016, the quality of the corporate culture you create will shape how you run your business, and how innovative you will remain. If you can’t create a corporate culture on which your business will be managed, innovating becomes a tougher challenge.

Creative People

A good organisational culture provides a conducive environment for creative people to strive. We often hear organisations say, ‘people are our greatest assets’, but they can only be an asset when they are allowed to explore their creativity. How you interact and engage with creative people will define how far your business will go. 2016 should not be a time to engage people based on sentiments. Whether you want to hire employees, or engage the services of other businesses as suppliers, distributors or any other service you will pay for, go for the most creative people. They will be in the best position to find new ways of doing old things. With the right culture that allows for independent thinking and mistakes, creative people will find the right solution to your market needs.

Combine Ideas

I was once asked to draw a line between innovation and creativity. I simply described creativity as an ability to combine existing things to create something new thing and beautiful. For instance, what makes you fashionable is your ability to combine various fashion accessories from different companies to come up with the image that represents you.

In business, an entrepreneur must have the capacity to combine unconnected ideas and objects to come up with a new solution. A lot of businesses will be going into areas that are not traditionally their strength with the aim of coming up with new solutions or improved solutions to existing problems. It can be in form of technology, by digitalizing functions that where manually carried out or added services etc. For instance, Air New Zealand added a feature in their mobile app that will allow passengers place order for a coffee once they enter the airline's airport lounge. Consumers will be demanding for more in 2016, your ability to borrow ideas from non competing companies will help you offer more services at a lower cost.

Leverage on the elements that are within your control to take charge of your business in 2016.

Read 1144 times Last modified on Wednesday, 09 December 2015 05:54
Ofunre Iriobe

Ofunre Iriobe is a researcher, and facilitator at the Redeemer's University Entrepreneurship Development Centre. He is also a private consultant to young aspiring entrepreneurs.

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