Now more than ever, the future of business is one shaped by fast-paced innovations to technology and the way that work is done. In the past, emerging tech may have been exclusive to bigger businesses, but today there are plenty of solutions that specifically have SMB owners in mind.
Because tech innovations occur so rapidly today, the small business ecosystem—and the small business owners who may not have the insights or resources to keep pace with new tech sprints—risks falling behind larger corporations that are utilizing these solutions. That’s why it’s imperative to remain aware of emerging software, automation and machinery that may directly affect your business.
Your interconnective infrastructure is the framework that facilitates interpersonal and other work relationships. It is important to realize that it doesn’t only encompass interpersonal relationships, it also incorporates your communication channels, organizational structure, policies, procedures, and strategy. As a leader, it is important to be able to identify and facilitate your interconnective infrastructure because it is the glue that holds your team together, either facilitating unhealthy cultures or positive ones propelled by authentic, respectful interactions founded on skills that shape and sustain trust.
We’re living in an age where many industries are facing big changes. To thrive, or even survive, most companies need to find ways to innovate.
Yet, most companies fail to do that.
For example, according to McKinsey, more than 80% of executives think that their current business models are at risk and consider innovation to be very important for the future of their organization. However, only 6% of the said executives are actually satisfied with their innovation performance.
As you progress on the journey of building great teams, you create the vision, build a strong foundation of trust and motivate your team to reach beyond what they thought they were capable of doing. The next step is to work with your teams to develop their ability to work more effectively and hone their skills for the markets your products serve.
We live in a fast-paced world where technology changes our lives daily. For some it’s invigorating. For others it’s intimidating if not terrifying. With news about AI (artificial intelligence) getting smarter and more accurate, self-driving cars and trucks becoming more reliable, and neural networks communicating directly with people’s brains, it’s easy to see how people are getting nervous.
That change is coming is inevitable. What we do with it and how we handle it will determine our future.
Entrepreneurship is an important, integral part of modern corporate world. The entrepreneurs bring a different flavour to the companies in terms of expediting different values such as innovation, quality, trust, Ethics, Morals, Code of conduct,, adaptability to situation, personal integrity etc. to name a few.
Entrepreneurs not only contribute to the financial development of the firm, but also, they contribute heavily in the economy of the country as well. There are certain corporate values that the entrepreneurs bring to the world that can be explained as follows.
Disruptive and incremental innovations: How to ascend the ladders and avoid the snakes
Guest post by Gaia Grant and Andrew Grant
Current realities are harsh. Whereas once it was enough to bring out slow incremental improvements, to give time to trial new products, services and ideas and test the market, innovations now need to be rapid and radical. And the competition is fierce.
In our world of work and business, competition is a real thing. Too often, however, we miss the real competitor. We overlook the root of what our products are really competing against. As Peter Drucker famously said: “The customer rarely buys what the company thinks it is selling him.”
Why do we miss the mark when it comes to competing in products and services? Why do the majority of innovations fall short of their desired objectives? Are you competing against luck?
There are many elements that make a good manager, however, one of the critical qualities is leadership. Leadership and management must go hand in hand, but they are not the same thing. Leadership and management are complementary, but it is important to understand how they differ.
Leadership is about vision and innovation, whereas management is about maintenance of excellent standards. A leader innovates and a manager administrates on the innovation. A leader focuses on individuals and inspires them, a manager focuses on systems and structure. A leader always has their eye on the horizon, whereas a manager should be watching the bottom line.
While it is important to be aware of the difference between management and leadership it is vital to understand that a good manager is also a leader. In the infographic below we explore the elements that make a good manager, leadership being a principle feature of good management. Continue reading →