Business innovation
Recent studies show that 80% of executives fear that their company's current business model is at risk of being outdated in the near future.
Studies also indicate that 84% of executives believe that the company's future success depends on innovation. A previous study points out that only 4% of company executives do not consider innovation as a strategic priority.
It is a fact that 9 out of 10 companies on the 1955 Fortune 500? list have disappeared, been absorbed or lost space in the last 60 years. The most logical explanation among other possible ones is the overcoming of their business models by more modern and efficient ones from competing companies, permanently defining winners and losers. It is reasonable to think that almost every company currently on this list will not exist in 60 years.
A survey carried out a few years ago found that there is a clear difference in financial performance indicators in favor of companies that have innovation as part of their strategy: Revenue? (+11%) and EBITDA? (+22%).
1 Fortune 500 - is a ranking of the 500 largest corporations in the world by revenue. The list is compiled and published annually by Fortune magazine.
2 Revenue is the monetary input that occurs in an entity (accounting) or equity (economy), usually in the form of money or credits representing rights.
3 EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) allows you to know how much cash the company is generating based solely on its operating activities, disregarding financial and tax impacts.
Companies that have had rapid growth and have distinguished themselves in their segments bring innovation to their ŅcoreÓ processes, or even those that have stood out for decades owe their success to constant innovation.
No matter the segment or market positioning, a company cannot remain competitive if innovation is not part of its strategic agenda.
Faced with this scenario, the challenge for companies, therefore, is to conduct their operation to ensure the viability of the current business and at the same time to organize and invest in the viability of the future business.
How to create an environment that promotes innovation?
That encourages a collaborative and open environment for new ideas, where employees find leadership support in the creation, conception and implementation of their ideas, where mistakes are seen as part of the learning process and which lead to the resolution of complex problems of the company. company, and that executives have the attitude and determination to reach new levels of business development despite the risks.
Which define the planning and prioritization of initiatives, objectives and strategic decisions, as well as the allocation of resources for the development and growth of the business
Through direct financial support, including: public initiatives (Ex.: BNDES innovation; Research, Development and Innovation; others) or through private initiatives, such as investment funds or direct investments (Ex.: Venture capital, angel investor, others). There is also the possibility of indirect financial support, through the reduction of tax burdens.
It allows new ideas to be worked on in a structured way at each stage, from creation to post-implementation, identifying and treating problems, monitoring progress, analyzing and reporting the results obtained.
Through direct financial support, including: public initiatives (Ex.: BNDES innovation; Research, Development and Innovation; others) or through private initiatives, such as investment funds or direct investments (Ex.: Venture capital, angel investor, others). There is also the possibility of indirect financial support, through the reduction of tax burdens.
It allows new ideas to be worked on in a structured way at each stage, from creation to post-implementation, identifying and treating problems, monitoring progress, analyzing and reporting the results obtained.
That offer opportunities in the creation of new ideas, growth and competitive advantage for the business, and above all, faster creation and availability of innovative products and services in the market.
It allows new ideas to be worked on in a structured way at each stage, from creation to post-implementation, identifying and dealing with problems, monitoring progress, analyzing and reporting the results obtained The company must make investments, allocate qualified professionals, create the structure operational requirements, adopt methodologies and processes, define and implement the necessary technological solutions, all within an innovation model.
Exemplos de modelos de inova¨‹o
Defining an innovation model for the company is an important strategic decision. There is no standard model that fits all companies.
The organization must analyze the different alternatives, select the most appropriate innovation model, and make the necessary adjustments.
Uma abordagem simples que estimula a inova¨‹o nas organiza¨›es, utilizando para isso seus pr—prios colaboradores, independentemente do n’vel hier‡rquico ou ‡rea. N‹o h‡ um modelo padr‹o, portanto, os programas de cria¨‹o de novas ideias devem ser definidos de acordo com os objetivos da empresa.
An internal structure formed by employees of the company itself that develops innovative ideas to address complex problems of the existing business or to develop opportunities for new markets, being able to even become an independent company (spin-off) depending on the results achieved.
The company promotes innovation programs by investing in startups, with the aim of developing opportunities for the company's business or for new markets, being able to become part of the company or become an independent company.
An internal structure formed by qualified professionals, internal or third parties, that works as an internal cell focused on innovation to develop incremental improvements (eg, internal productivity improvements) or disruptive (completely new business models).
Structure created by companies from different, possibly complementary, industries to explore new opportunities by exploiting existing structures and relationships.
Create a framework to accelerate the development and growth of startups, helping them get out of the embryonic stage and quickly get to the point of investment. Accelerators facilitate: the creation of the business model; market access (exploiting existing networks); access to investment (which may be through angel investors, investment funds and venture capital funds); methodology (structured for the most effective development of the startup); mentoring (more experienced entrepreneurs, entrepreneurs and specialists in specific topics that help the startup); services (legal, accounting and financial services, Cloud infrastructure, information systems, others); sale of the startup (for a Private Equity fund, Venture Capital).
A strategy that allows companies, through the merger or acquisition of another company, to penetrate new markets, improve the development of products and services, acquire talent and intellectual property, and gain financial power.
Como podemos ajudar a sua empresa?
Business innovation can take many forms depending on the company's strategic goals. Below are some examples of how Citrine Consulting can help:
Estratˇgia e planejamento
Strategy definition and model planning that promotes new ideas, develops and speeds up the launch of innovative products and services in the market, aiming to create new revenue lines and improve the company's results.
Desenho e implementa¨‹o
Design and implementation of the innovation architecture, including the innovation model, methodology and processes, governance, information technology, talent profile, services and necessary structure.
Mentoring/Coaching
Mentoring and coaching services add value to the internal team through the experience of specialized professionals who can assist in specific challenges or in the governance of the company's innovation initiatives, advising executives in decision-making and in the knowledge of the methodologies used.
