Image via Wikipedia
The moment anyone in management decides they don’t need to continue to learn and grow, it’s time for them to close up shop. Every day, businesses encounter valuable lessons from competitors, partners and even unrelated organizations. But do they pay attention? Companies like Apple, Microsoft, Honda, and Google budget entire departments dedicated to recognizing growing trends, new business models, and even spotting the next big thing.
Too often smaller companies start as innovators and fall into a trap. They focus their world view on two or three competitors and end up in a rut and eternally playing catch up. Even when the companies try to get out of this cycle with updated business training, they focus too much on trying to find the one big change that will rescue them. They often overlook a plethora of inspiration all around them.
Instead of starting from scratch, they need to look toward leaders in each field. Successful businesses such as a film studio, auto maker, and online casino, provide key examples that can be incorporated into virtually every business.
Creating a Buzz
Movie studios know every trick about teasing a product and building word of mouth.
Auto makers continue to perfect assembly lines to increase efficiency with every movement.
Return on Investment
Casinos quite literally have people flocking to hand them cash hoping to get a tenfold return.
Each of these industry experts can teach existing organizations, and those just starting a business, the key points to incorporate into their own strategies.