As consumers, we are continuously presented with new things that pull money out of pockets and into the hands of people who have created something that compels us to plunk down our hard earned money to be a part of the new hotness. Have you ever contemplated what is takes to make consumers act so compulsively? While business schools around the world thrive on case studies that seek to find the answers to that question, many companies are finding that have to jump through major hoops to remain viable in order to drive that consumer market. That's right! Companies have to continuously change themselves in order to compete in today's markets. In today's business environment, the topic of innovation is on the forefront of discussion when it comes to determining the next line of products. Innovation is the process of taking a new idea and transforming it into something that the market takes on or that a company uses to sharpen its performance and increase its market impact. Did you catch the subtlety in that statement? Sometimes, companies must innovate themselves in order to remain viable and to compete in the market. This means that little is left to chance. Internal processes from human capital to manufacturing must be subjected to scrutiny and change. While the goal is still to deliver sizzling hot products to the market, new thinking is consistently required to accomplish this goal. This means that companies cannot survive with only the folks in the big office suites coming up with the next big ideas. The best ideas must be harvested from the people that make things happen for the company. That means the employees. In addition, the customers must be continuously asked about their satisfaction concerning the quality of the product and the timeliness of its delivery to their front door. Now, I can see all of you cringing from the flashbacks from the customer survey forms that get emailed to you immediately after you buy a product from your favorite retailer. Companies use this information to gain insights to inform decisions about how the company must change in order to offer more value to their customers. When this happens, customers share their experiences with friends and the customer base expands. By contrast, when companies reject the notion of seeking and acting on insights from employees and customers, the company's value diminishes over time. Change is a good thing. It provides a sense of newness for people within the company and its customer base. When managed correctly, companies can make sensible changes and continuously update their capabilities to increase performance and successfully deliver new products to the market. Don't fear asking the people that work for you about their ideas to improve the way in which the business operates. They actually have better insights that the folks in the front office. They do the job for you every day. Who knows better than the people on the front lines? Likewise, take heed to what your customers tell you about their likes and dislikes, concerning your products and services. When the customers see that your company acts on their feedback, they become loyal customers and act to build your customer base by telling their friends and relatives about their experiences. Morphing your company can mean a long and profitable future if done purposefully and driven by the insights from people who matter. So, change your ways and your change will morph into greater business success.
