Business innovation: a differentiation and profitability factor

Foster your growth and stand out from the crowd through business innovation!

One of the first steps in promoting business innovation is to reflect on your current business model.

The purpose of this exercise is to identify your best practices. It also provides an opportunity to identify the ones that need to be put in place, those that must be improved and others that should be eliminated.

Having a real picture of your company and relying on the creativity and inventiveness of the people on your team will be instrumental in finding innovative practices. These will give you a unique identity and will allow you to stand out from your competitors on the international scene.

As a result, you will expand your business while ensuring its sustainability.

Think about your business model and corporate innovation

Taking the time to stop and take stock of the situation, questioning your products, their added value, your ways of doing things, of selling and responding to customers are the first steps in business innovation. Their purpose is to improve your efficiency, competitiveness, attractiveness and profitability. This reflection will help you add value to your product, improve your offer, focus on your objectives and mobilize your team around clear and common orientations. The exercise also aims at providing you with a quick and efficient decision-making process, reinforcing your competitive advantages and encouraging you to invest in your company’s growth.

Find out how CQI can help you think of ways to bring innovation to your company

CQI can guide you through a review of your business model, helping you identify potential changes to improve your efficiency, differentiate you from your competitors, increase customer satisfaction and improve your company’s profitability. This is an essential step prior to carrying out your annual strategic planning or taking stock of and validating your business development avenues.

Step 1
Industry, customers and competitors overall analysis

Our team will begin by researching and analyzing data on your industry’s most recent trends. We will select some of your customers and interview them to find out what they think of your products and services. We will also look at who your competitors are, identifying their practices, their business innovations and their positioning in the market.

Step 2
Corporate workshop

The second step consists of a one-day reflection workshop with your team’s key employees. We will review your current operations and processes. We will also determine your value proposition. What are your objectives? What do you really have to offer your customers? What will you do to step outside the box, the “Me Too”? Together, we will explore ways of improving and innovating within your company to achieve these goals, set you apart from your competitors and position you properly in your target markets.

Step 3
Prioritization of actions and timeline

Following the group workshop, the information gathered will be collated and the priority elements to be put in place will be identified. We will also call upon the members of our team to reflect on the workshop’s conclusions and to work on the identified business innovation elements. We will present you with a timeline and an estimate of the time and resources required to implement the changes.

Take a step towards exporting and growth through business innovation
Business innovation is without a doubt a determining factor in your company’s growth and success. Business innovation is essential to improve your products, but also to be more efficient, to present a more attractive and unique offer, and to generate more profits. Taking the time to think about your products, your production methods and your ways of doing things is an investment that can pay off. CQI and its experts can assist you in this reflection on innovation and at all stages of an export project with its Horizon 360TM Export Coaching Program. Contact us now and think about your business differently!

You want to review your business model

and stimulate innovation in your company?

Contact CQI