A New Year, A New Day
The views portrayed in this A New Year, A New Day blog are subject to change at any time based upon market or other conditions and are current as of January 22, 2021. While all material is deemed to be reliable, accuracy and completeness cannot be guaranteed.
“The value of an idea lies in the using of it.” - Thomas Edison
Keeping focus can strengthen results! This is a powerful opening statement that we hope resonates with our audience. Strategy and purpose are the foundation of any good organization, but business excellence comes down to execution. Can you pull off your idea and truly solve a problem?
There is no way around it that this past year forced industries to pivot and adapt. Furthermore, it was easy to see that some organizations were able to do this easier than others. At AFZA Capital, we witnessed several companies that focused on innovation and solving the problems at hand. To mention one, Tibu Health.
It was inspiring to learn that Tibu was working to solve problems by advancing their offering. In the beginning of the pandemic, they worked to deliver Covid-19 test. For us, it was such a great win for them.
Moreover, we saw a significant increase in participation, collaboration and overall quality of ideas from the entrepreneurial market that we had met with earlier in the year. Our firm’s research has shown that leaders who can engage their employees and effectively involve them in the process of addressing the most pressing challenges faced by their organization have a lead over their competition. Teams that know the process and have a clear path to move new ideas forward are 16% more successful than teams who do not. We constantly remind everyone to communicate, share issues, and strive to solve problems collectively. We are in this together!
Top Five Innovation Deployment Challenges
Missed Innovation Strategy
Employees are Not Motivated or Empowered
Innovation Takes Place in One Group Alone
Lack of Collaboration
Missed Customer Connections
Stay positive and keep working on your problem-solving ideas!