04 Dec Business Blog December 2023
Welcome to the December edition of our monthly Business Focus blog
Our business focus blog explores the things that matters to your organisation. This month, we will focus on key trends in infrastructure, innovation, HR and management theory.
We hope you enjoy reading this blog post and find it useful. Please get in touch if you would like to know more about any of the issues discussed in this blog post.
- Infrastructure as a service
- Disruptive Innovation
- Leading Change
- Becoming a more effective manager
Infrastructure as a Service
IT infrastructure that sits in the cloud.
Infrastructure as a Service (IaaS) provides virtual computing resources over the internet, giving businesses essential elements of their IT systems without needing physical hardware.
At its core, IaaS is flexible and scalable. It lets businesses rent computing resources as needed, including things like virtual servers, storage, and networking.
The big advantage of IaaS is that it takes away the hassle of managing infrastructure from businesses. This means that management teams can focus on what they do best while leaving things like IT hardware setup and maintenance to an external IaaS provider.
IaaS also lets businesses adjust their computing resources quickly. This is great for both startups and bigger companies, offering a cost-effective way to meet their changing needs.
In simple terms, Infrastructure as a Service changes how businesses handle their IT systems. By utilising the power of the internet, companies can streamline their operations, be more flexible, and set themselves up for long-term success without having to worry about keeping their IT infrastructure up to date.
Some of the most popular IaaS service providers in today’s market include Amazon Web Services, Microsoft Azure and Google Cloud. Each of these service providers offer scalable platforms that can grow with your business.
Disruptive Innovation creates a new market and value proposition that displaces established market leading firms, products or services.
Disruption and innovation are terms that are used a lot in business.
However, true disruptive innovation is a dynamic force reshaping industries and challenging traditional business models. It’s not just about incremental improvements but rather a radical transformation that introduces novel approaches, often rendering existing products or services obsolete. To harness the power of disruptive innovation, businesses must think and act strategically.
At its core, disruptive innovation is about meeting unmet needs or reaching underserved markets. Identifying these gaps requires a keen understanding of customer behaviours and a willingness to explore unconventional solutions.
Successful integration of disruptive innovation involves fostering a culture of agility and adaptability. Firms must be nimble in responding to market shifts and embrace change as an opportunity for growth rather than a threat.
Continuous investment in research and development is paramount. Pioneering ideas often emerge from dedicated exploration of new technologies and approaches.
Businesses that prioritise innovation as a core value are better positioned to lead in developing new approaches that can disrupt existing markets. Collaboration plays a pivotal role. Partnering with innovative startups or industry experts can inject fresh perspectives and accelerate the integration of disruptive elements.
A good example of disruptive innovation is Netflix. They started out as a DVD rental service that mailed rental films directly to people’s homes. Netflix recognised the shift to online media consumption early on and pivoted their business model to online streaming. At the time, online streaming was in its infancy. Netflix wasn’t the biggest DVD rental company but its innovative shift to subscription based online streaming services was hugely disruptive and made the firm a market leader in the media and entertainment industry.
Netflix’s success serves as a prime example of how a business embraced disruptive innovation, took the time to understand evolving consumer preferences and transitioned from a traditional model to developing a new market where it became an established leader. Ultimately, disruptive innovation demands a mindset shift. Firms that embrace uncertainty, encourage experimentation, and adapt their business model to emerging trends, can leap ahead of competitors.
Change is inevitable in business and change programmes need to be managed effectively.
Change programmes must be managed properly if they are to succeed. The management team must lead by example and articulate the vision and strategy for change in order to help employees understand why the change is necessary, how it aligns with the company’s goals, and the positive impact it will have on both the organisation and individuals.
Frequent and transparent communication is key. Keep your team members informed about the change process, the reasons behind it, and the expected outcomes. Address any concerns and provide a platform for questions.
Encourage your people to get involved. Seek their input, listen to concerns, and encourage feedback. When employees feel their voices are heard, they are more likely to embrace the change. Ensure that the necessary resources, including time, training, and support, are available for team members to adapt to the changes. This helps mitigate resistance and facilitates a smoother transition.
Develop a comprehensive change management plan that outlines the steps, milestones, and responsibilities throughout the change process. A well-structured plan provides clarity and direction. Not everyone embraces or likes change. You should expect some degree of resistance and take steps to proactively address it. Identify potential challenges and concerns early, and implement strategies to alleviate resistance, such as targeted communication or additional training.
Acknowledge and celebrate achievements along the way. Recognising small wins boosts morale, reinforces the positive aspects of the change, and encourages continued commitment.
Effective change management requires commitment from the leadership team in terms of strategic planning, open communication, and a focus on engaging employees throughout the process. By incorporating these principles, leaders can deliver complex change programmes which drive the right behaviours across the organisation in order to move the firm forward.
Becoming a more effective manager
Top tips to help you reach your potential as a manager.
Effective managers get the best out of their people, develop loyal teams and drive ongoing success in their respective firms. Becoming a more effective manager requires a combination of leadership skills, communication finesse, and a keen understanding of team dynamics. Here are some key tips to help you become a more effective manager:
Clear and open communication is fundamental. A successful manager articulates expectations, provides constructive feedback, and actively listens to team members. Open dialogue fosters trust and creates a collaborative environment.
Delegation and Empowerment:
Effective managers understand the art of delegation. Trusting team members with responsibilities not only distributes the workload but also empowers individuals to develop their skills and take ownership of their work. This fosters a sense of accountability and autonomy.
Continuous Learning and Development:
Successful managers prioritise ongoing learning. Staying informed about industry trends, leadership techniques, and management strategies ensures that a manager remains adaptable and can guide their team through evolving challenges.
Emotional intelligence is paramount in effective leadership. Understanding and empathising with team members’ emotions, managing one’s own emotions, and navigating conflicts with sensitivity contribute to a positive team dynamic.
Recognition and Motivation:
Acknowledging and appreciating the efforts of team members is crucial. Regularly recognising achievements, big or small, and providing constructive feedback cultivates a motivated and engaged team. Managers who inspire and motivate their teams create an environment conducive to success.