By Margaret Manson | Chief Inspirator
Some time ago, I wrote about the 10 ways to innovate in business. Yes, there are plenty of options. But there is ONE most important factor that makes any business innovation work: consistent communication from the moment idea has appeared on the radar.
Paramount to any successful form of innovation is communication. Without effective communication – both, internally and externally – even the greatest idea or product will have an effect of the proverbial ‘tree falling in the forest’: no impact!
Communication for creating a differentiating, innovative Business Brand is more than an advertising message.
All big companies and brands have their day. But that’s exactly what it is: a ‘day’. It is just as easy for big Brands to slip as it is for an SME. The only difference is that they fall from greater heights and cause a lot bigger dent in the economy. The bottom line is that every business must continually innovate its competitive advantage to stay relevant. It’s not about breakthrough innovation. It’s about consistency!
A few months ago I attended iAwards function. It is an Award in the Australian IT industry. After a spot of research going back three to four years, I discovered that NONE of the Winners repeated their success. Furthermore, speaking to a few of them I found that they had no future strategy or plans to leverage their success. Forget that. They didn’t have a future strategy for growth – full stop!
In once case the CEO didn’t even know they won an iAward. But, hey, some have put their award on the website.
Now, take Dell for example. It created a revolution in the personal computer industry but then it settled on a business model and found itself progressively sliding under the pressure of price competition.
This is how Michael Dell decided to tackle the problem.
Consider this: as Dell fights for survival in the highly competitive market, the Leadership has turned to employees to enlist them in future success. In the much publicized letter to employees, the chief outlines five strategic commitments the company has made to the Security and Exchange Commission as the path forward to take Dell private
Michael Dell’s Letter to Employees:
“I’d like to share those plans with all of you, so that you can have a better understanding of our vision for the future… We see a lot of work that needs to be done, but also an extraordinary long-term opportunity if we get it right. As we look to the future, I couldn’t be more confident in the quality of our leadership team and in all of you — 110,000 of our industry’s most experienced, talented and committed team members. I am more energized for the future of Dell than ever. Together, we have built an amazing company and our best days are still ahead.”
Sounds promising? Two things have been set in motion here: five strategic priorities have been identified to reduce complexity and provide focus; and, the first step has been made to communicate vision and outline direction to everyone.
But it may not be enough if this communication stops here and doesn’t extend to building a unique Dell Culture to create continued internal pull by all employees, through keeping the message alive on all levels of the organisation.
Future will tell!
Let me know your thoughts!
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