Staying Ahead of the Game

Introduction

The questions that lead this topic are, how to survive in disruptive market? How to solve problem and face challenges? And more importantly, How to stay a head of the game? There’s one powerful tool that can drive your business and organization to a success. The one who can use this tool has been proofed success by the business they have build. It’s not a secret tool. It is called mindset. Innovative mindset has been carried along by the leaders to tackle the obstacles and win the game.

Surviving in business has become more challenging in this disruptive age. The evolution of technology has made access to information easier than ever before. Thus, create numerous new competitors. We are drowning in the sea of information and competition. The only live jacket that makes us stay afloat on top is innovation. But where exactly innovation comes from?

Innovation is the successful implementation of new ideas using discipline and skill through innovation management. In today’s disruptive age, traditional strategic planning may not be effective in driving innovation because it does not easily fit with old business models. Design thinking, on the other hand, is the key of modern approach that can be used to create and drive innovation in a rapidly changing environment. The other keys to find your business success are organization’s culture, automation and technology integration, data and machine learning, and human Centric marketing. The other factors to business success may depends on the purpose and the business’s character. Therefore, this article only discuss about the main keys mentioned before.

Design Thinking

Design thinking is a set of process to find the solutions from a problem through design principles. Keep in mind that design thinking can’t be a solitary effort. You can’t simply hire one person to solve all your problems with design thinking. It needs to be embraced by your entire organization. The process of design thinking typically involves several steps:

1. Define the problem: Clearly articulate the challenge that needs to be solved.
2. Research: Gather as much information as possible about the problem, including the needs and perspectives of the people who will be affected by it.
3. Ideate: Generate a wide range of potential solutions, using techniques like brainstorming and mind mapping.
4. Prototype: Create physical or digital representations of the best solutions, using a variety of materials and tools.
5. Test: Iteratively refine and test the prototypes, gathering feedback and insights from users.

Design thinking is often described as a human-centered approach, as it emphasizes the importance of understanding and empathizing with the needs and desires of the people who will be using the solution. It encourages a flexible, iterative approach to problem-solving, and encourages teams to be open to new ideas and willing to try multiple solutions before settling on a final design.

Adopting design thinking would help you and your team to approach problems in a more creative and innovative way, by using a structured process to generate and test ideas, gather feedback, and iterate on solutions. It also promotes empathy and a focus on the needs of the end user, which can lead to more effective and successful outcomes. To successfully approach business with design thinking, there are several principles you should apply according to Mootee (2013), “Design thinking for strategic innovation”:

1. Design thinking is Action Oriented, A big part of design thinking is design doing, It’s getting your hands dirty and experimenting instead of being an armchair strategist.
2. Design thinking is comfortable with change, To effectively address complex and ambiguous issues, it is important to approach them without preconceived notions or limitations. Design thinking involves breaking away from traditional roles and thinking patterns to come up with innovative solutions to problems.
3. Design thinking is human centric, Design thinking always prioritizes the needs of the customer or end user, including needs that may not be immediately apparent. To understand these needs, it is important to use research techniques to carefully study the processes, tasks, and goals of the user. This helps to ensure that the solution meets the user’s needs effectively.

Automation and Technology Integration

Automation and technology integration in business refers to the use of automated systems and technologies to improve efficiency, reduce costs, and enhance competitiveness. Automation involves the use of machines and software to perform tasks that were previously done by humans, while technology integration involves the integration of different systems and technologies to improve the flow of information and processes within an organization.

There are many benefits to automation and technology integration in business. Automation can reduce the need for manual labor, improve accuracy and consistency, and increase speed and productivity. Technology integration can improve communication and collaboration, streamline business processes, and provide access to real-time data and analytics.

Automation and technology integration can be applied to a wide range of business functions, including manufacturing, supply chain management, customer service, and more. It requires careful planning and implementation, as well as the integration of appropriate technologies and the development of effective training and support programs.

Data and Machine Learning

Collecting data from various parts of your business can provide numerous benefits and give you a competitive edge. For example, data can help you optimize business operations, streamline manufacturing processes, improve supply-chain management, better understand customer behavior, and measure the effectiveness of marketing campaigns. The possibilities are endless and can give you valuable insights that can help your business grow and succeed.

To leverage data for maximum benefit, there is a couple of aspects you have to address:

• A fundamental part is the design of the database. Deliberately designing your database gives you a diverse understanding of the possible applications of your data. This allows you to uncover insights and address a wider range of issues. Additionally, designing your data helps to streamline data management and enhance data security.
• Data preprocessing is the first step in the process of extracting useful information from your data. It involves tasks like data cleansing, data balancing, data shuffling, and data masking.
• Similar to mining gold from the underground, you have to mine answers from your data collection which data analysis can be helpful in this case. Data analysis can be tackled using tools and techniques that fit your specific problems, improving the accuracy of your business decisions. Before you can begin analyzing your data, you need to ensure that you have the necessary resources, including access to the data, prepared data, statistical knowledge, analytical skills, and appropriate tools and software.
• Business intelligence (BI). The process of collecting, storing, and analyzing data to gain insights and inform business decisions. It involves the use of various tools, techniques, and technologies to gather, process, and analyze data from various sources, such as transactional databases, market research, and social media.
• Data analytics is the process of using statistical and computational techniques to extract insights and knowledge from data. It involves the collection, organization, and analysis of data in order to answer specific questions or test hypotheses.
• Machine learning is a type of artificial intelligence that enables computers to learn and make predictions or decisions without being explicitly programmed to do so. It involves the use of algorithms that can analyze and interpret data, and can improve their performance over time as they are exposed to more data.

Human-centric Marketing

Human-centric marketing is a approach to marketing that focuses on understanding and meeting the needs, wants, and expectations of customers. It involves taking a customer-centric approach to marketing, which means that the marketing efforts are centered around the customer rather than the product or service being offered.

Human-centric marketing involves the use of customer insights and data to design marketing campaigns and experiences that are tailored to the individual needs and preferences of customers. It also involves the use of empathy and emotional intelligence to create a deeper connection with customers and build long-term relationships.

Human-centric marketing can be applied to various marketing channels, including digital, social media, email, and in-store experiences. It requires a deep understanding of customer behavior, motivations, and needs, and the ability to use this information to create marketing campaigns and experiences that are relevant, personalized, and engaging.

Conclusion

In conclusion, technology has become more sophisticated. Thus, make more people connected and more competitors entered the game. Applying old methods will only take you further from the opportunities ahead. Running a business has become more complex as trends are changing rapidly. Your product or service may become irrelevant in a short period of time. To handle the risk, it is important to continuously innovate and stay up-to-date with the latest trends and technologies in order to remain competitive in today’s market. The keys mentioned before might help you to survive in the game.

References

• Mootee, I. (2013). Design thinking for strategic innovation: What they can’t teach you at business or design school. John Wiley & Sons.
• Coronel, C., & Morris, S. (2013). Database systems: Design, implementation, and management (7th ed.). Boston, MA: Cengage Learning.
• Foster, F. (2013). Data science for business: What you need to know about data mining and data-analytic thinking. O’Reilly Media, Inc.
• Kotler, P. (2015). Marketing 4.0: Moving from Traditional to Digital. John Wiley & Sons.