SMEs Need to Speed
Of course, is hard to see the difficulties that a lots of companies have. The consumers are spending less, the market is not growing, banks are not willing to give loans, Governments needs to economize etc. In the end, companies are not growing, have to save money and don’t invest.
Then, viewing the economic crisis as an opportunity may sound like a joke, but it indeed offers a major opportunity for innovative, adaptive and courageous businesses.
The importance of innovation for the survival and competitiveness of organizations is an undeniable fact. The explosion of shared information, the growth of a more globalized economy and the rising crisis has changed the rules. Innovation is fundamental on the quest of profitable and sustainable growth. So organizations need to innovate to face the current downturn and survive.
New technologies, new products, new services, whole new industries have been emerging. Since the Industrial Revolution, businesses rely upon technology as a driver of their progress. And today, more than ever, innovation is a key to survival, understood innovation as continuous and sustainable implementation of improvements and new ideas. Where are the opportunities? Turn into solutions real market problems. These are the opportunities.
Crisis forces to focus on short-run problems, the immediate future. The deepening crisis since last years and the competition in the current world market, where emerging economies grow faster than the others, require from SMEs products and services of higher quality and more innovative. This new world of opportunities allows the existence of more space for small and medium enterprises with innovative spirit, to stand out and grow.
Are companies ready for this stage? If they are not, the death is near.
Thus, the urgency and relevance for the companies, whatever the market in which they operate, to drive process improvements or changes involving their future sustainability is a strategic key. The question that every business faces is in which way, using which tools and applying what attitudes and actions, will promote this change.
Companies should endeavour processes towards continuous innovation. This road is long and difficult since the available resources, mainly financial ones, are more and more scarce. This scarcity of resources also forces the need to develop strong creative culture, talent retention programs and improve employees care in order to involve them into the company goals.
But, despite the development of this effort there is no guarantee that it is sufficient to achieve the competitiveness. Undoubtedly, companies must align innovation with its guideline and its strategic objectives.
And don't forget that the call for innovation is more intense than ever.







