Integrating innovation into all business practices can boost the resilience and profitability of local companies, even during the current economic climate.
That will be the message from the internationally renowned consultant, business author and academic Dr Kjell Nordström when he speaks at the third Invest Northern Ireland Innovation Masterclass tomorrow.
Regarded as one of the world’s leading management thinkers, Dr Nordström will demonstrate how focusing on the continuous improvement of core activities and maintaining customer, employee and supplier loyalty, can help businesses to maintain competitiveness during the economic downturn.
Invest NI’s Managing Director of Innovation and Capability Development, Tracy Meharg, says: “This is the third in our successful series of Innovation Masterclasses, in which leading business figures illustrate to local companies the value and importance of proactively seeking out new ideas and processes.
“Although trading conditions for businesses in many sectors have become much more challenging, opportunities do remain for those that can evolve and adapt. Focusing on the medium to long term and adopting an innovative approach to business operations could help companies here maintain their market positions and be ready to seize new opportunities as they arise.
“This does not have to involve significant financial outlay. As Dr Nordström explains in his presentations, encouraging creativity and lateral thinking from their people can enable companies to discover refinements to their products and processes which can deliver real bottom line improvement.”
Dr Nordström adds: “I firmly believe that new ideas and innovation are the lifeblood of any business and this is particularly true during difficult times.
“Entrepreneurs can stimulate this by striving to be as original as they can and constantly questioning their businesses and methods. This open-minded approach will help them to differentiate their offering from competitors and flourish in the face of global economic pressures.”
Following an enlightening and inspirational address, delegates from around 200 local companies will have the opportunity to participate in an interactive panel discussion with Dr Nordstrom and other innovation and business improvement experts.