Has this ever happened to you that when you’ve called the customer services, you get a chatbot and you just feel like demanding an agent or representative because you wanted to speak to a human?
Humans interact with chatbots all the time and they are made to believe that chatbots provide the best solutions but in reality, chatbots are only adequate for simple questions.
Companies are working on the latest business innovation strategy where chatbots actually understood what you were asking instead of directly answering the saved input. Different companies have different business models but almost all established ones have too big of an audience that they have to implement chatbots for customer support. This new technology for chatbots will prove to be an excellent business strategy and innovation as it will lead to better and more precise results.
If your chatbots understand what is being asked, they will be able to anticipate obstacles similar to how customer service agents do after a lot of interactions. So how can companies enable the chatbot systems to have such conversations? Merely adding more pairs of question-answer to the system will never help you accomplish that. Instead, you will need to implement an innovation strategic framework which enables the system to reach about the domain constraints and tasks involved.
If you want to successfully apply this strategic innovation management and want it to be successful, you will have to know the task at hand and the constraints involved. You should anticipate all the possible scenarios and problem that might arise. The challenging part would be to represent this kind of task-related knowledge with enough relevant information and granularity to anticipate the obstacles and remedies without actually overdoing it.
Capturing fine distinctions which involve the minute details can lead the system astray as it wouldn’t be able to take any actions on those. You should want to provide support just enough inference such that it can go past the stilted limitations of the scripted bots that are usually used these days. It will help the clients have conversations with the system and get an actual answer to problems instead of simply get answers to FAQs. This is how the companies will scale beyond the incremental and unmaintainable current approach. This is the groundwork being laid with the advanced AI research at labs to find the pathway which leads to interactions which are truly smart.
In this competitive work environment that you live in, moving your career forward is entirely up to you. You need to be proactive and keep on refining your skillset to inculcate unique innovation strategy frameworks if you want to advance and thrive.
But how can one stay up-to-date and come up with business innovation strategies to always remain competitive? The best way to do that would be to embrace the concept of upskilling. This basically means you have to build on the existing skillsets of yours and practice self-directed learning. It will help you learn the most in-demand skills and give you a better arsenal of services you can provide. Here are some of the ways you can use upskilling to your advantage and come up with
- Take advantage of online learning
If you have the ambition and persistence to learn new and innovative skills, you can easily find the needed resources online. You can look for decent learning platforms online as there are thousands of course on every imaginable skill available. If you have a boss who is expert at strategic innovation management, you can talk to them about the upcoming trends and the scope of different innovative courses.
- Certify your way as you climb up the corporate ladder
It isn’t necessary that you must have a degree for climbing up the corporate ladder but you do need to have certifications. For technology networks such as Amazon Web Services (AWS), getting certified will be a great way of proving your skills and that you are a serious candidate for the bigger positions.
- Learn the trending in-demand skills
Skills often come and go in the workplace because with changes in technology, the needed skills will also change. These days, skills come and go in a few years or even months. This might seem overwhelming but learning the in-demand skills can make a huge difference to your career. No matter which business models your company follow but there are always opportunities that arise for those who are up-to-date with the trending skills.
- Align with peers who are headed to the top
The coworkers in the office, executives of the company, or the network of people you deal with can all be seen as resources to help you learn and grow your job potential. Try to cultivate a network of highly motivated and skilled people that are interested in building their skills and coming up with a unique business strategy and innovation for every problem.
Today’s companies are forward-thinking and they know that giving employees access to ongoing education opportunities is a great business innovation strategy as it prepares them to deal with the industry’s changing circumstances.
Not a long-ago workplace training usually consisted of attending traditional classes or reading books. These days, the options for training are more varied and they often take place virtually or with the help of high-tech equipment.
Technology brings people together
The advancement in technology has made it easier than ever for your employees to get in touch with others remotely. Training for a company that is scattered around the world poses many challenges but technology solves most of the problems. You can connect with colleagues or platforms where you can learn no matter where you are in the world. Also, a lot of conferencing apps have chat windows which allow people to ask questions or weigh in with their thoughts. This also allows the trainers to adapt their teaching style and content based on what the attendees have to say.
Virtual Reality apps allow the employees to engage in a safe, cost-effective training
The primary goal of training programs is to get participants prepared for situations which they usually face at work. However, based on the circumstances, it can be difficult or almost impossible to realistically expose someone to the precise situations.
Virtual Reality is an amazing option that improves the company’s innovation strategy framework by giving their workers relevant material while also keeping them safe at reasonable costs. While going through VR simulations, employees will be able to learn how they should respond to certain situations and how to tackle them.
Tech-Based Training will help employees get educated even while working
Even enthusiastic learners can sometimes run into obstacles regarding business strategy and innovation. They’ll surely want to expand their knowledge and skills but perceive it to be an impossible task while they’re busy with work. However, there are many programs available which allow people to learn even during their busy schedules. Individuals who choose these classes get access to highly qualified instructions that match their career aspirations. This way, the employees can take courses or earn certificates even without them having to put their jobs on hold.
Augmented Reality allows people the opportunity to avoid dangerous mistakes
AR or Augmented Reality is the type of strategic innovation management technology which blends the real-world environment with the virtual elements of business models. It is helpful for employees who require training for risky tasks. For example, you can train for employees on how to perform cardiovascular surgery without the risk for the patient to die.
Functional level strategies refer to the responsibilities that are handed over to different branches that maintain both your business and corporate level strategies. To be specific, these functional strategies stand for the end results you wish to get from the day to day functions of your certain business departments.
As a business, your functional level strategy must be able to highlight the point that businesses need constant support from various functional departments, like, Human resources, production, research & development, accounting, operations, marketing etc. to fulfill their goals. As the next step towards your corporate level strategy, your business’ functional level strategy would require you to –
- Improve your human resources team by hiring more and more skilled and expert candidates
- Increase marketing for better brand value, recognition and name
- Decrease the likelihood of rejections in the production department
For any business, it is extremely crucial to keep up these strategies and work towards fulfilling the objectives of all branches. But, one thing that you must keep in mind while devising a functional level strategy for your business is to make sure that it is aligned with your business level strategies and corporate level strategies.
For instance, if your business strategy is aiming at increasing your brand value and your corporate strategy is directed towards increasing your organization’s market share, then any of your functional level strategies should not be regarding updating the computers of your marketing department.
How Does Functional Level Strategy Benefit Your Business?
The right functional level strategy can prove to be extremely advantageous for your business, and the reason behind it is its specific nature. Although, it is also the specific nature of functional level strategy that makes it more likely to be complicated and hard to achieve in comparison to corporate or business level strategies.
One of the greatest advantages of incorporating a functional level strategy for your business is that it helps streamline your company goals in a more comprehensive and all-encompassing way. This means that once you have worked to create a functional level strategy for your business, each and every employee working in different departments of your organization will be brought together by a unified goal. This is something that will automatically lead to an improved work-understanding, contributing to your organization’s success as a whole.
How to Help Marketing Teams get out of their Creative Slump?
No matter how good someone is at their job, there will be a slump or dry spells along the way especially when it comes to creativity at work. If your job is to constantly think and creative business innovation strategy, there is nothing getting around it. There will come a time when you’ll hit a creative slump and not be able to come up with an innovative strategy framework to support your marketing team.
Here are some of the ways you can get over your creative slump:
- Take a thorough look in the mirror
Most of the times getting out of a creative slump is not entirely about creating something new. All you need to do is look at things that you might have written off or not considered from a different angle. Reassessing your marketing team’s tactics would be a smart way of working towards breaking that creative slump.
You can make sure your marketing team is more creative by something as simple as entertaining all the ideas as valid, whether they are in accordance with your business models or not. You never know which idea can strike a chord and turn out to be the initial stages for successful business strategy and innovation.
- Fostering a positive work culture
Nothing can snuff out the flame of creative like a negative work environment. The workplace should have an atmosphere that promotes innovation and allows the employees to shine and there is no way any marketing team can flourish or reach its full potential in a negative environment.
Team building activities that are based on positive communication and trust would be a great way to involve your employees in a way they come closer. The CEOs and management that know about strategic innovation management will be aware that sometimes it can be the smallest things that make a huge difference. Sometimes, making efforts as small as taking your team out on a retreat can look ordinary but they can surely spark creativity.
- Keeping up with the latest trends
The marketing teams know better than anyone that standards, techniques, and trends are always changing. The ability to keep up with the trends and adapt to the changing world is becoming more and more important as the industry continues to advance swiftly. If you want your marketing team to thrive, you will have to make sure every single member of the team is constantly learning and looking to explore new ideas.
Facing a creative slump is normal… even the most creative and successful marketing teams have experienced that. Luckily, there are things that you and your team can do and dig your way out to reach the top. By fostering positive company culture, keeping up with the current trends, and reassessing tactics these slumps will appear far and few.
Corporate Strategy helps in formulate a winning guide in how the business is competing in the market.
It define what are the objectives (goals and future plans) and values of a corporation and how it compete against competitors. As such, it helps in formulate the long term view of what a company does and what it will do in the future. Moreover it helps in achieving success depending on how is formulated.
Many big corporations and consultancy define their role with the Mission Statement and Vision Statement. Statements in which the say what is the organizational goals for the medium and long term, which is usually 5 to 10 years.
Strategies are an ongoing process which takes time to formulate, but are also always changing due to the environmental forces which influences the market. How to formulate a succesful corporate strategy is the main opportunity for many Businesses.
The Mission Statement and Vision Statement are ideas on how and what the company wishes to be perceived by its customers and is related to the product and or service offering.
To formulate a good mission statement is important to be able to answer to the following questions:
- What can people do with the information or product offered on the site?
- What is the Unique Selling Proposition?
- How will the service or product improve the clients’ lives?
- What reason for buying on the website and not somewherelse? Or Why read the information and take the advice instead of getting the advice from another site?
- Why are you offering these products or service aside from making money?
If you notice carefully, it will neither be the business models nor the products that were innovative, but rather the brains behind them. Hence nurturing a culture where willingly generate and execute creative ideas is an essential skill that every innovation leader looking for a new business innovation strategy must follow.
Many companies are notorious for wasting a lot of potential especially when it comes to creativity. According to the studies published by Adobe and Gallup in the past few years, over 50% of the employees were not engaged at their workplaces while merely one-third of them feel positively engaged at work. The so-called “active disengagement”, as noted by Gallup in another report, costs over half a trillion dollars each year in the U.S. economy alone. Delivering poor customer service, frequent leaves of absence, lack of strategic innovation management, and negative energy in the workplace contribute to this issue as well. These factors have a direct impact on the culture of the workplace and thus on the business strategy and innovation capabilities. In other words, creative workplace culture will drive innovation and result in outstanding business outcomes.
In recent years, a lot of companies have begun interviewing hundreds of executives and employees in the ever-expanding global market. Time and again you will notice that people define how innovative a workplace is along with the leadership practices and the creativity culture established there. Regardless of the industry you’re in or the scope of responsibility you’re tasked with, the leadership styles and culture of the workspace will define the innovation strategy framework of the company and how successful its end results are.
In the research conducted, three determinants emerged from the observations as to what usually motivates employees to perform at their very best. The research has revealed, whether consciously or intuitively, great innovative leaders understand how important it is to satisfy their employees’ main needs: Recognition, Self-Actualization, and Community.
For motivating high performers and setting an example, the leaders should recognize outstanding performance publicly and openly appreciate them.
Innovation leaders should help their employees located and build upon their strengths if they want to excel at everything they do.
Leaders should go that extra mile and establish not just a feeling of safety, identity, and belonging, but they should also bring forth a feeling of intellectual exchange, inspiration, and connection to an influential external network.