Design businesses to adapt and innovate through marketplace changes.
The pace of business is maddening. This is nothing new, certainly not an Aepiphanni. The question is: knowing that the business marketplace is so dynamic, how do you make sure that your company is dynamic enough to meet those needs, to stay competitive and to stay afloat?
This is the challenge faced by many, if not all businesses. Those at the top stay focused on staying at the top. Those right below those at the top constantly strive to reach the top. (The top could be top of their market, industry, niche, geography, etc.; whatever is most appropriate for your business.) Being at the top means that not only are you able to change, but you can predict or perhaps even create the changes in the marketplace.
However, even market makers (those that shape the marketplace) face the challenges of continuing to innovate to stay on top. Look at FaceBook, Google and Apple. While these companies have created phenomenal products, there has been no time when they have sat back on their laurels and said, “okay…enough. We have arrived.”
The challenge many businesses face is not necessarily in the realm of ideas, but rather, in the realm of execution, which is often bungled by not creating an environment that embraces innovation. Businesses must be dynamic by design, not by accident. Otherwise, the business will be a one-hit-wonder; a company that does something really great for a while, then disappears as new innovations take the spotlight.
Business architecture is the practice strategic planners use to design business models to take advantage of a particular way of operating. It helps business leaders determine the types of technologies, facilities, resources, etc., will be necessary to reach a strategic goal for the organization. Similar to building architecture, it works within certain frameworks and is designed to withstand certain changes, to be effective and efficient with respect to operations and growth and is functional within a budget.
For example, your company finds that in order to grow successfully while maintaining the same level of customer service it has become known for. In order to do so, it must be prepared to handle a higher volume of work, which means that you need to determine:
- what the potential volume of calls and other customer service activities will be required,
- how many people will be required to handle the increase,
- what resources they will require in order to do their job
- how performance will be managed
- who will manage performance
- what the potential budget is over time (startup, growth, maintenance)
- shelf-life – how long the solution will be applicable
When looking at this through the lens of innovation, you would think in terms of how ideas might be processed, tested, financed and launched within a relatively short time period. You might think in terms of how to get the product or service to market as quickly as possible, while ensuring that the product or service meets your company’s criteria for quality and support.
Success is a goal that is rarely stumbled upon. Building an extraordinary business requires planning and commitment to ensure that the business stays on track, stays nimble, dynamic and ready to meet the next challenge.
Aepiphanni Business Consulting: The Business Strategy People is an Atlanta, Georgia based Operations Management and Business Strategy Consulting Firm dedicated to serving the needs of small to medium sized business leaders. We help business leaders DESIGN| CREATE | BUILD extraordinary businesses. We support our clients with financial management, product and service production and delivery, outsourced services management, sales & marketing and business growth. We provide them with a number of flexible solutions to help them reach their goals.
Join us for a 30-minute complimentary Coffee & a Consult, to learn more about Aepiphanni and how we might help you move your company from existing to extraordinary.