A growing trend over the past several years has been to host internal innovation challenges. Companies do this because they find it’s an excellent way to find solutions to long-standing problems, positively create culture (particularly in a remote workplace), and also to nurture the budding intrapreneurs who want to find career growth and new opportunities.
We often hear about the concept of innovation and its importance in enhancing the competitiveness of an organization---however, the excessive use of this term has distorted its true meaning and content.
Private equity funds invest in many traditional companies. So do institutional actors. When asked, leading voices in this field often claim that they are not looking for the next big thing, but dominant companies in the field, with low risk and a relatively predictable and stable cash flow.
Investments that are necessary to innovate and serve customers are no longer sustainable while COVID-19 hastens the need to exploit the potential of digital innovations. Serving customers accurately during unprecedented times requires a new mindset and business model innovations. If banks respond to customer requirements in completely new special situations, they can gain trust and integrity and become winners of the crisis.
2020 proved just how important our relationships to banks and credit unions are as they worked to rapidly respond to the changing financial needs of their customers.
Organizational change can be met with resistance, especially if it excludes employee input.
After a decade working in innovation, I think many of us are sick and tired of seeing a funnel on another slide at an innovation conference. Lots of ideas at the top, just a few implemented ideas at the bottom… we get the idea.
Innovation is usually spoken of in relation to products, research, and development. However, every aspect of your business can be innovated. In fact, one of the most important – and often overlooked – is customer service. Innovative customer service helps you build loyalty, encourages repeat business, and can also bring in new buyers as they observe how you care for your consumers.
Underlying an innovative culture driven by an innovative leader is innovativeness. Innovativeness drives business growth by increasing innovation opportunities.
At its core, customer service is simple: Make sure your customers are happy. But even if you’ve succeeded in making your customers happy for a time, constantly improving your customer service should be a goal for you and your business, as it can help you stand out from competitors.
In the aftermath of the EU’s General Data Protection Regulation (GDPR), businesses aren’t crying out for data superheroes; but for a complete, well-drilled data army. According to Gartner's Research Vice President, Mario Faria, 90% of businesses will employ a Chief Data Officer (CDO) by the end of this year. However, in a world increasingly governed by data, it is no longer the sole responsibility of a c-suite to ensure compliance – every individual is equally accountable for protecting consumers’ privacy.
How can we succeed in the online world when it seems to be changing by the day? This article explores critical questions business leaders need to be asking themselves as they explore case examples and strategies that have been applied by others, examine how the technologies and capabilities of the ‘mobile first’ internet could evolve in the next few years and identify a set of practical actions they can adopt to drive exponential online sales growth.
Customer experience is perhaps the single most valuable and emphasized component of business operations. Both B2B and B2C companies greatly value the concept of creating exceptional customer experience as the bottom line of achieving revenue growth.
Disaster recovery as a service (DRaaS) is a category of cloud computing designed to protect applications and data against natural and human disasters. It ensures that service disruption of a business is kept to a minimum by enabling a full recovery through the cloud. Most often it is handled by a third-party provider and managed by your internal IT personnel, removing some workload from your IT professionals and giving them peace of mind.
Artificial Intelligence, like other digital transformations, have been commemorated in the field of customer experience for many years. However, it’s now the rage and this technology has been touching the sky. Today, the AI technology with its potential to mimic the human interactions have been so widely embraced by both the customers and brands that there’s no denying the fact that the AI in customer experience marriage will definitely work.
