What is the cost of your organizations inability to innovate?
Whether you are in retail, technology, video, advertising, transportation, social networking, healthcare or manufacturing, your organization has to constantly strive for innovation. The value that we learn from history, is that it can repeat itself. There are hundreds of organizations that failed, due to the lack of innovation, which has led many of them to close their doors or become stagnant.
Businesses close or become less relevant faster than we can keep up – leaders of Kodak, a technology company, could not see digital photography as a disruptive technology; Blockbuster failed to innovate video on a streaming platform and was “Netflixed”; JCPenney’s market changed and the company faced an identity crisis in 2012, leading to a $985M loss, and 138 closed stores impacting 19,000 employees.
While many headlines focus on the number of companies going out of business, many miss the local impact closures have on our communities, to include:
- Deserted malls
- Empty shopping centers
- Companies losing profits
- Eye sores in local communities
In the United States and in many other countries, communities are experiencing an affordable housing crisis and workforce development and skills gaps challenges. How can your local community leverage some of the abandoned businesses to create affordable housing or bring trade schools back?
Organizations who are competitive in the market now, innovated over 10 years ago, however, very few executive leaders maintain a culture where innovation and resiliency are a part of the business model. The inability to innovate puts any company at risk and further impacts your employees, customers, suppliers, and stakeholders,
Asfalis Advisors invites you to expand business resilience and innovation at the strategic level in your organization, by booking Vanessa Vaughn, Founder and Chief Resilience Officer of Asfalis Advisors at your company.
