INNOVATION - PLUS, OR MINUS TECHNOLOGY
Written by: Mrs. Priscilla M. Achulo (MBA), CEO of PrimeTech Innovations Ltd.
Every business owner or executive seeks three key things: efficiency, effectiveness, and competitive advantage. The problem however arises when these owners or executives attempt to achieve these three objectives without innovation.
Dr. Ken Hudson identifies an excellent definition of innovation made by the Government of New Zealand – “Innovation is the creation, development, and implementation of a new product, process or service, with the aim of improving efficiency, effectiveness or competitive advantage.” So, in effect, how are you doing things in your organization? Are your current methods effective and efficient? Do you have a competitive advantage in your industry? The genuine response to these questions lies in your perception of whether you are willing to embrace innovation or not.
In this current surge of new methods, ideas, and technologies, companies that are still engulfed in the traditional ways of executing their business operations are gradually and subtly being forced into the back row. Customers are constantly searching for and embracing more convenient ways to transact business, whereas competitive companies are earnestly researching and adopting better methods of running their business operations. 93% of business executives believe that organic growth with the help of innovation will contribute to greater revenue growth. From internal operations to sales/ marketing, innovation plays an integral role in enhancing the profitability capacity of businesses, as well as minimizing losses, mostly due to human inefficiencies.
One of the most effective ways to apply innovation to your business processes and ideas is through technology. According to McKinsey, 98% of the economy is influenced by modernization and digitalization. “Once you have an innovation culture, even those who are not scientists or engineers…don't fight science and they don't fight technology” - Neil deGrasse Tyson.
What am I driving at? Well, the obvious fact, that is, INNOVATION THROUGH TECHNOLOGY HAS COME TO STAY, irrespective of your view or acceptance of it. So it is now your responsibility to involve the right people and acquire professional counsel from experts in this area to guide and lead your business towards that innovative future.
In case you are wondering where to start this journey, look no further. PrimeTech Innovations Ltd is well-equipped with capable, knowledgeable and experienced professionals, who derive great fulfilment in helping businesses like yours to make the right and technologically innovative decisions. Take that bold step today towards your innovative future. PrimeTech Innovations- The Future of Innovation!