? Business Improvement & Ideas
Sideways 6
4 in 5 employees have ideas to improve their business. Sideways 6 helps you bring the best ones to life.
In today's newsletter, we share some trends and insights on how to drive business improvement, the importance of individual willingness to grow, why initiatives fail and examples of companies that have seen over $100M in cost savings thanks to a culture of ideas. We hope this gives you some food for thought on how to build a culture of innovation for your company.
?? So your business is ready to improve, are you?
Psychologist Carol Dweck has studied behaviours leading to achievement and success for decades. She unveils the compelling correlation between our willingness and ability to grow and continuous success and improvement. A growth mindset implies that abilities can be developed over time, and it contrasts with a fixed mindset, where intelligence is seen as static. Her research shows that your attitude is a better predictor of your success than your IQ. In this TED Conferences talk, Dweck dives into the power of a growth mindset and how it can lead to improvement not just for individuals but for entire companies.
?? Why does improvement tend to fade over time?
This Harvard Business Review article dissects a five-year study involving a European bank's lean initiatives. The bank witnessed impressive initial efficiency gains, but the gains eroded over time. At the same time, 21% of projects didn't yield any improvements, even among the rest, only about a third managed to hang onto their gains after two years.
So, how do you implement sustainable growth? The research points to visible support from senior leadership, consistent measurement, and addressing employee pain points, and makes an interesting point on how "initiative fatigue" can sabotage long-term success.
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?? Improvement? How does $100M in cost savings sound?
We assembled four stories of companies that have successfully created a culture of improvement and have seen significant cost savings as a result. In this article, we discuss how businesses can tap into their employees' collective knowledge to find impactful ideas that show great returns, create an innovation-forward mindset, and how Sideways 6 can help companies streamline their idea management process for optimal results.
?? Head it first hand from industry experts
Don't miss our next Masterclass: Zero to Hero: How Taylor & Francis set up an employee idea program from scratch and engaged 64% of their audience. Find out: