In the corporate world every entrepreneur must have a holistic view of his/her company. This view has different emphasis and degrees of abstraction. The organization that has people with these “eagle eyes”, will certainly stand out from its competitors. It is common to find managers excited about computing resources.
But and now? What is the way forward?
What has to be done by established companies to maintain sustainable growth of their businesses? The answer is a development of the business vision of managers, leaders, and other employees. An entrepreneurial view focused on the systematization of innovation. In other words, it is all about process and procedures that will facilitate the holistic view approach of all participants of the business. This could be the most prone path for a company to achieve success in its business management.
Cost reduction per se is no longer an ultimate goal. One has to think out of the box and perceive the environment changes as the best way to generate innovation. Companies that do not give priority to innovation in their management model will not be able to survive in the market in the long run. And that is for a simple reason: if your business does not innovate, your competitors will. If you are not fast enough to at least match your competitors you face the risk of being left at the funeral wake of your business. For instance, Kodak that couldn’t manage the change of technology from analogic to digital photos or Blockbusters that underestimate Netflix’s business model.
How to make innovation systemic?
Through the implementation of corporate entrepreneurship, which is a strategy that must be embraced by the manager and disseminated throughout the company to identify the great opportunities of the market. Organize your organization. Separate it into parts to manage but don’t forget the whole. Here you have two basic steps on how to do that:
Supply Chain holistic view:
Understand that your business is much wider than just your physical borders. The system within which your business interacts is very complex and the comprehension of the problems of suppliers (and suppliers of suppliers) and customers (and customers of your customers) will create new perspectives and possibilities for your business. So the key word here is INTEGRATION. Get to know your partners and your network. Talk to them, share information and maybe you have solutions for your problems or better than that, you can create new solutions for your partners (innovation).
Business Strategy and the holistic view
You have to understand that managing a business is an equation composed by internal and external elements. The creation of innovation is related to three basic pillars: Industry, Resources and Institutions. Considering the holistic view, you have to investigate your competitors and market, maximize your resources and capabilities and understand both the formal and informal norms that govern your business. Make sure you are up to date and do not oversleep the trend.
Want to develop an eagle eye? Enroll to our International Business Management course at MIUC and we will help you to see beyond the obvious.