As another recession stares us in the face, we can use innovation to beat it hands down. To not just survive, but to actually thrive! Technology can help growing businesses thrive in chaos. This is their regular state: constant change, constant reinvention. A recession is not an exception. In this Series, we point out ways to create a recession-beating strategy and impress upon the need to innovate. Sharing practical advice and techniques, we encourage changemakers to keep living with technology in harmony so that together we can transform.
“Innovation is crucial to the UK building back better. Boosting innovation in the private sector is an essential part of the UK’s future prosperity. We are calling on businesses to invest in innovation, getting British firms to the front of the pack.” This is from the UK Innovation Strategy Document, published by the government.
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When times are good, businesses may not be as concerned about being market leaders. A market leader position, however, can ensure not only survival but also growth during difficult times, such as recessions.
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Having a strong competitive advantage in the market is what makes businesses thrive, especially in challenging times such as the upcoming recession. To break through the barriers of these challenging times, changemakers need to focus on their business's operational models and look for opportunities to innovate.
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When creative minds are overburdened with the fear of what's coming, they fail to work at their full potential. And that's what going to happen if you consume your energy into controlling things you can’t control.
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The thought of entering into a recession is not positive for most business owners. As the economy shrinks, they tend to make decisions that cut costs and keep them on safer ground. They aim to survive, not to thrive.
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Business processes that aren’t streamlined can create issues with time and money for companies. Business Process Automation (BPA) can overcome this problem by analyzing and optimizing current business processes, increasing the quality and efficiency of operations
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Over the past few years, sustainability has increasingly emerged as an undeniable trend in all areas of business, including the finance industry. It is no longer a nice option but a business imperative for many companies and a key point for prospective investors.
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