To introduce a cost-cutting strategy in your innovation management initiative and ensure that your business remains relevant and able to maximise its potential under less favourable circumstances, five major steps should be taken.
How to map costs for your innovation path to growth
In our economic environment, connecting innovation and strategic cost-cutting becomes relevant for all companies, both incumbent and challengers.
Why leaders with a clear vision connect innovation and strategic cost-cutting
A successful cost-cutting strategy is connected to an organisation’s capacity to evolve, to innovate, and to do it as whole. Companies can, in fact, keep innovating in ways that do not require high investments in new products’ research and development, and which can save substantial amounts of time and money.
How strategic cost-cutting helps you shift from survival to growth
In a weak growth environment, with low investments and rising risks, companies gamble on cost-cutting to ensure that they are prepared and equipped to grow stronger, as they wait for better times to come. Yet, cost-cutting is more and more seen as a way to drive growth, rather than as way to survive or avoid insolvency.
Strategic cost-cutting and improvements in the innovation corporate agenda
Long-term stability is highly unlikely, and we all have questions and uncertainties churning in our heads, CEOs included. They are, right now, looking for answers and for ways to include their organisations in possible solutions.
Six best innovation practices to engage Millennials and Gen Zers
All businesses are created first by ideas. Then, once you are in business, you need new thinking for design, engineering, radical improvement, manufacturing, marketing, advertising, problem-solving, customer retention, etc. Often the difference between success or failure in business is a simple idea.
Why is innovation management a powerful tool to engage Generations Y and Z
Large companies looking for creative and transforming ideas need to leverage innovation management to conquer employees, particularly Gen Zers and Millennials. Those leading must develop the mindset and organisational structures to empower these younger generations and help them reach full potential, while becoming part of their company’s evolution.
How to create a culture of collaborative innovation in younger generations
Millennials and Generation Z are often disconnected from the strategic vision of a big organisation because they cannot see any links between their everyday work and the company’s business objectives. Being able to align an individual’s everyday work and goals clearly with the organisation’s strategy gets people to think in new ways and imagine new possibilities.
How innovation can help you conquer the new generations
A Gallup report shows that US companies lose $350 billion in revenue every year due to employees’ disengagement. In fact, 70 per cent of your employees are probably disengaged. Yet full participation is an emotional commitment that cannot be forced. With the Millennials and Generation Z joining the workplace, the challenge rises: no longer can we believe that it is enough for a company to provide the work, and that an employee’s motivation will come naturally.
Generation Z and innovation in the workplace
Gen Zers are part of a generation that is global, social, visual and technological. They are the most connected, educated and sophisticated generation ever.