IM & Innovation Tool

The Innovation Spotlight

The Innovation Spotlight Newsletter is designed to help you keep up with the latest developments in small business innovation. This newsletter is distributed to you in collaboration with The International Network for Small and Medium Enterprises – INSME, a non-profit Association open to international membership, which acts as a hub of knowledge, a facilitator for alliances, a promoter of networking to encourage international cooperation and public-private partnership among economic players and intermediaries worldwide with currently 93 members from 37 countries.

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Gearing Your Small Business for Innovation

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As an entrepreneur, constant innovation is critical for the long-term sustainability and success of your business. But innovating doesn’t require you to be the next Steve Jobs or to create something the world has never seen before. In the context of a small business, it rather involves responding to your market’s needs quickly and accurately – and ensuring that you put appropriate systems and processes in place. This will ensure that innovation becomes an extension of your business’ thinking and operations.


While innovation is often thought of as something involving cutting-edge technology, in the context of SMEs it should rather be defined as a small business’ ability to adapt to changes in its environment – with the process catalyzing new ideas, products and service offerings, and potentially different ways of doing business.

As such, innovation can enable your SME to exploit changes and opportunities in order to stay relevant and gain market share. This is especially possible given the speed with which you as an entrepreneur can effect change in your business.

Read full article » www.entrepreneurmag.co.za/advice…/

 

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