Innovate or Die The pandemic has forced us all to change, adapt and engage our customers at a faster rate than any economist could have predicted.
By Jitendra Dabhi Edited by Bill Schulz
Opinions expressed by BIZ Experiences contributors are their own.
Many industries have seen major job losses while sectors like ecommerce, and online delivery, continue to flourish due to the pandemic.
We now live in a contact-less world where consumers are interacting virtually with digital innovation being a necessity rather than a luxury.
This is a good thing.
Innovation is the cornerstone of long-term business growth
Enterprises across the globe have been forced to adopt new ideas that inadvertently helped them grow beyond their imagination. Customers are now, more than ever, embracing the digital approach.
Remember the word "blockbuster"?
We all used to watch films at theaters, but now Netflix's market value is $32.9 billion. We have the liberty to watch cinema, series and documentaries at our own convenience.
Innovation means companies can revamp the existing concept through technological solutions.
Related: This Franchise Launched in Response to the Pandemic. What Happens When The Pandemic Ends?
Adjusting to a reliance on digital tools
While many global companies struggled to adjust to the "new contact-less world," some are seizing opportunities to transform their business operations.
There is an obvious example of Zomato, and other food delivery apps, that now allow customers to enjoy dishes at their location. It has changed the restaurant industry.
Restaurateurs are now revamping their existing business model and experienced technology partners like Elluminati Inc., helping them to achieve excellence through innovative solutions.
Related: Why Aren't Struggling Small Businesses Taking More PPP?
The advantages of being innovative
Steve Johnson writes within his 2019 bestseller Skip a Step: Imparting Wisdom for Young BIZ Experiences Minds: "Radial innovation is accessible to those who know how to use it."
Organizations that embrace innovative tools have greater resilience amid crisis and allows them to recover faster to chase growth.
The two advantages are as follows...
Efficiency Advantage: Harness top software and applications to streamline business operations. The benefits include less inaccurate results and more focus on core objectives.
Productivity Advantage: Employees are already working remotely, there are many types of software that help them to maximize workforce productivity and cultivate company culture.
Innovation can bring the values to your business plus widen your customer base. It is an amelioration to the long-term growth of your organization.
Related: The Booming Industries Hiring in a COVID-19 World
