It’s genuinely not enough for a boutique or lifestyle hotel to just look good anymore. Looks can only go so far, but real, genuine hospitality and customer service are what will convince customers to book, and to return, for years to come.
It’s hard to be an innovator. You have to come up with cool new stuff, make it work, and get people to use it. Not easy! Depending on your situation, there can be barriers, active and passive, to being a successful innovator. Lots of people in business and government love to talk about how they’re innovative, and how they foster innovation. Hah! In all too many cases, what they actually do is build and sustain barriers so strong and so high that innovation is nearly impossible.
Amid the dawn of a new industrial revolution, the winners will be those who can adapt, embrace technologies and respond to new demands. Diego Tamburini, manufacturing industry strategist, Autodesk, explains.
We can see the future! The information and technology industry is going through a very revolutionary change where developed and developing countries are actively participating in offering the best and advanced technology solutions. But all of us are curious what will be the future like? Anything like shown in the Sci Fi movies?
UKeiG members get a 25% discount for Internet Librarian International (ILI): Innovation in Action, which takes place at Olympia, London on 18/19 October. Examples of ‘Innovation in Action’, the theme of this year’s ILI, abound through the conference programme – not least in the presentations of the three keynote speakers who will each give a perspective on the trends and challenges shaping the information landscape.
Technology has given retail a face lift, spurring the dramatic rise of e-commerce. Millennials are particularly in love with online shopping, with 67% preferring it to in-store buying. With this mobile-loving group leading e-commerce, over half (53%) of consumers use smartphones to meet their shopping needs. That doesn’t mean, however, that companies are doing the greatest job providing an exceptional mobile shopping experience. In fact, consumers are due for big improvements.
Which business model to use is one of the most fundamental strategic choices that entrepreneurs, CEOs and general managers can make. When we think of innovation, we usually think of creating or refining new products, but innovation can occur at every level of business. In fact, a less publicized form of innovation, that which focuses on the business model, may actually lead to the most profound results.
The uptake of new innovative automation technologies is becoming far more widespread. Andrew Hoyle, head of automation at third-party logistics and supply chain solutions provider, Wincanton, explains.
Take a look at any successful enterprise and you’ll find innovation at its core. That was just as true a hundred years ago when Henry Ford perfected the assembly line as it is today, when modern day giants like Elon Musk bring cutting edge technology to market. Innovation, as I’ve written before, is how people come up with novel solutions to important problems.
There is no ‘formula for success’ when it comes to startups. 90% of young companies fail, despite having creative ideas and a willingness to get it right. The reasons for this are many, but arguably the main one is an inability to raise initial capital.
London is the best city in the world for fostering fintech, ahead of New York, Silicon Valley and Hong Kong - but it faces a run for its money from Singapore - as the industry pushes for better measures for assessing its contribution to the economy and the government's new industrial strategy.
PalmerSwitzerland is a hot bed of financial technology innovation, according to speakers at a Sibos Innotribe session in Geneva. Brigitte Baumann, CEO of GoBeyond, argued that ‘angel investing’ in financial technology start-ups can be considered as a new asset class, and that Switzerland is leading innovation in this space.
We’re living in an exciting time. The rapid advancement of technology – in particular mobile, automation, artificial intelligence, social media and the Internet of Things – is driving major changes for both businesses and consumers alike.
Both large and small companies have agreed that innovation and creativity are essential tools to sustain business success and improve market competitiveness. However, the traditional “closed” innovation model faced barriers and in the top of them is the lack of new idea generation among the internal company team. Open Innovation model was first coined to Dr. Henry Chesbrough, Executive Director, Center for Open Innovation, Haas School of Business, who defines it as “Open innovation is a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology.”
Every organization develops a set of social norms that guide people's behavior automatically. Norms are behaviors that people engage in a particular context without thinking about them. These norms influence the way people interact and they allow people to signal that they are part of the same social group. Obeying norms tells the people around you that you can be trusted, because you understand how to act around them.
In 1995, Harvard Business School professor Clayton Christensen articulated his theory of disruptive innovation in one of the most influential business books of all time, The Innovator’s Dilemma. Christensen described an innovation at the low end of the market that eventually upends a market leader and the industry itself. Disruptors secure initial foothold at the low end of the market, offering inferior, low-margin products.
Innovation is a team sport. Although creativity is a characteristic that is often used to describe individuals, the idea of the lone genius is a myth. Even famous inventors such as Thomas Edison where in reality representing the ‘work of many men’. Francis Jehl, a longtime assistant of Thomas Edison , used this phrase to describe the group of engineers who worked with Edison at his Menlo Park lab.
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