Companys not only have to be prepared to introduce new things, but rather not to do old things anymore. The latter is the real challenge to get into “Grow with the Flow”.
Building Competitive Advantages: 4 Steps
Which company would not like to build up decisive competitive advantages and turn them into lucrative Shops transform?
Only by growth and profit let the jobs of Employees secure and make the necessary investments. What many companies underestimate is the need for change.
1. Theory of Constraints
Is that it Objective a company to change and improve established procedures, the Theory of Constraints (TOC) is a tried and tested means. Whose Success depends on the willingness to really question everything. A structured approach is important:
- First, analyze the initial situation (Current Reality)
- then define the goal (Future Reality),
- develop the way (Strategy and Tactics of Transformation)
- and finally implement this path (Execution).
From the steps Objective and Implementation the companies learn and then start again at first. This should bring about a sustainable increase in performance and create a stable basis for the next step.
2. Profit generation through innovation
ohne Innovation and further development, even the strongest company will eventually be left behind by the competition.
The German economist Jürgen Hauschildt, one of the pioneers in the field of business innovation research, believes that one is not enough Idea to produce - only the sale and/or use distinguishes an innovation from the invention. Innovative products generate growth and ultimately more profit.
3. Master challenges
Companies need to meet a number of challenges to ensure growth:
- The resources are scarce. Not enough can be developed with the resources available. More resources will be requested from the R & D department and the finance department will not be able to absorb any additional charges.
- The cost of resources in the R & D department is high, because they are extremely educated and capable scientists / engineers. In addition, there are costs for machines and apparatus that are used by the resources in research and development.
- There is a lot of time between an idea for the development of a product until its successful launch on the market. The longer the development phase lasts, the greater the risk that a competitor will bring the development to market first.
- Every innovation brings with it risks: Many development projects are not completed, do not arrive or do not sell. The few successful projects have to compensate for the losses.
- Innovation projects can be poorly planned. Security bugs are scheduled to make projects more reliable.
- The executives complain that the company generates too few creative market ideas. The often clear focus on risk management dampens creativity. High costs of failure also slow down the potential.
To deal with these challenges, a process must be developed that addresses the speed, success and reliability of innovation projects.
4. One for all and all for one
Business areas compete with each other, which can extremely disrupt productive work. It is the responsibility of top management to give all projects the resources they need to get the results they want Tasks to meet.
And then and to the extent that they are needed. Unfortunately, competition does not stimulate the company. On the contrary: Um als Organization To be successful, it is important to avoid unnecessary tension. Success must be understood as a holistic vision.
Conclusion: Grow with the Flow!
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So companies can achieve their goal fast and sustained reach: a clear increase of capacity and results = Grow with the Flow!
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