Innovation in business from time to time

[Alexandoy]

Innovation is changing something that you think would be more useful and beneficial. In business there is the guy called Efficiency Engineer who could help in streamlining the procedures in the business particularly the operation. With innovation you may not need an Efficiency Engineer as long as you can reach your objective with the changes that you would implement. A minor example is the color of the store. Repaint the store with bright colors to make it attractive to potential customers. That very small innovation can mean a lot when it comes to sales. Another example is the spacing of the products. When the aisle in the store is crowded the customer tends to be annoyed at times when there are many customers inside. If the store is spacious and the racks of the products are properly spaced then that would be a big plus to the mood of the customer.

Sometimes business owners do not want to change anything particularly with the operation and procedures because why fix it when it ain't broke, as the saying goes. Innovation is not fixing anything but only improving. Besides, small changes can always be reverted to the original setup if the innovation is not successful.

 

[Kingsley]

Yes I very well agree with you, one must be innovative from time to time because we are living in a world that keeps advancing in all ramifications and what was obtainable yesterday may not be obtainable today, and if we fail to move with the trend we might be left behind and this will spell disaster because we are not the only ones selling or producing that particular product or services. There are other producers out there and they are trying to beat their competitors like us. So how do we keep us if we don't up our games.

The only way is to be be innovative and very creative. we also nee to to look out for the weakness of our competitors any exploit it, this will attract more client to our business venture. Sometimes this innovation may not come in the area of using technology to upgrade our business management systems, But it can be in the area of upgrading the customer service relations, this can go a long way to boost the consumer perceptions about us and this can give the business a more better imagine of the business. Hence we should endeavour to be innovative.

 

[moonchild]

Innovation is very crucial is keeping a business going because if not because of innovation we wouldn't have the tech giants company we have today, a lot of companies went obsolete because of lack of innovation the typical example Is the infamous story of Facebook and MySpace when Facebook started MySpace just stood still they didn't try to make their product better they just leave it as it is.

Facebook took the market from them by innovating new features in the app like private messaging and customer relation, today, Facebook is a billion dollar company and MySpace is still struggling to survive.

We live in a hyper active world, if your product is not good enough then surely somebody will come and unseat you and take it from you because he'll exploit your deficiencies and innovate from it.

It's important to understand the industry we are operating in and innovate new features as much as possible so ad to continue being in the game.

Facebook is a great example when it comes to innovation, presently, they have a huge investment in web3 and that includes blockchain(Meta Coin), metaverse(NFTs, virtual reality etc) and they even went as far as acquiring companies that are building the future projects like Occulus etc.

This is how companies or businesses should aspire to be.