Game Changing Business Innovations in 2019

Jasmine Williams
December 14, 2018
183 Views

Regardless of your industry, your business environment has undoubtedly evolved dramatically over the years thanks to constant innovations and developments. Even seemingly small innovations and new technologies can have a profound impact on businesses.

Companies that embrace new innovations intelligently and strategically may be better poised to take advantage of the opportunities that they provide in the most efficient way.

In order to take advantage of relevant innovations as soon as possible and to remain competitive in the marketplace, you must remain vigilant to new developments as they arise. More than that, you must spend time analyzing them and determining how they may be applied to your operation

As you look forward to the upcoming year and plan for incredible success and profitability, these are some of the top innovations that could change the game for many businesses.

Mobile technology enhancements

While employees’ smartphones can be distracting in the workplace, they also can be truly beneficial. Numerous mobile applications and platforms can be accessed by employees throughout the day regardless of whether they are sitting at their desk or not. This can potentially improve collaboration, productivity, communication and more.

Today’s businesses are challenged to find the right combination of applications and platforms for their team to use as there are a growing number of options available. These applications and platforms each have their own unique features and benefits to explore.

Phygital improvements

Phygital is a trending buzzword that describes the combination of digital and physical worlds. For small and mid-sized businesses, this aspect of Industry 4.0 can be useful in numerous ways.

For example, it can increase the consumer experience through online shopping via your website. It may improve corporate training efforts and streamline onboarding. It may also improve safety through augmented reality developments and more. Because Industry 4.0 and the Internet of Things can have a profound impact on many aspects of business and can level the playing field for smaller businesses, this is an area that must be carefully researched.

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Smart factories

Manufacturing facilities are increasingly using modern technology, automation and the Internet of Things to boost efficiency and productivity. Robotics, machine learning, big data and other factors have all come together in amazing ways to change the landscape of manufacturing.

Smart factories are characterized by machine-to-machine communication, machine learning, augmented reality, advanced human-machine interaction, rapid prototype development and more.

If your business is involved in manufacturing of any type, a closer look at the latest smart factory technologies and a general migration to adopt these technologies intelligently may be essential for ongoing growth and prosperity.

Digital empathy mapping

Understanding what customers want and think as well as how they will respond to marketing, product development and more requires less guesswork today than it did in previous years. Online applications and improved analytics are so robust that it is increasingly easy and much faster to obtain accurate information.

In addition, companies can now instantly obtain feedback from customers. Through this type of digital empathy mapping, companies are now better able to position marketing messages, improve products and take other bold steps in a manner that pleases customers.

By doing so, they may decrease risk and make more cost-effective decisions. More than that, this type of technology is available and well-suited for all sizes of businesses, so it is essential for leveling the playing field.

Digital transformation programs

Companies that have not already embraced the digitalization of marketing are increasingly expected to do so in the coming year. This digitalization includes a more advanced approach that takes efforts to a multi-channel system, and this may even evolve to an omni-channel marketing system soon.

An omni-channel system is evolved so that two-way communication between customers and the company are easy and effective. More than that, it enables customers to complete transactions on various levels and across many platforms in a seamless manner.

There is a general migration from the current platform to a multi-channel platform, and companies that have achieved this level will then progress to an omni-channel platform as a natural next step.

Blind hiring technology

While hiring managers understandably do their best to avoid discrimination during the hiring process, there may still be unconscious bias at many stages of the process. For example, there may be a naturally tendency to lean toward a specific gender or to make assumptions about ethnicity based on names when screening resumes.

Today’s businesses understand the importance of diversity in the workplace, and they strive to achieve a high level of diversity. To accomplish this goal, HR professionals and hiring managers are increasingly using various applications to screen resumes and even to conduct some stages of the interview process.

Through these blind screening and hiring applications, a considerable portion of unconscious bias is removed from the process. This trend is expected to improve and to increase within the next year.

Corporate wellness program improvements

Corporate wellness programs have been around for years, and companies are actively promoting the health of their employees in various ways. In addition to the more obvious benefits that promote physical health for all employees, modern corporate wellness programs take a more well-rounded approach

They may offer mental health benefits, social benefits and even financial health benefits. This advancement takes into account the fact that many workers today are overwhelmed by financial stress and burdened by debt. These concerns can impair workplace performance.

Financial health benefits in a corporate wellness program may include various educational sessions, tutorials and more that cover a wide range of personal finance topics.

Final Thoughts

You can see that workplaces continue to evolve in amazing ways. Trends in marketing, manufacturing, hiring, management and more are expected to be robust in the coming year and beyond.

Now is an excellent time to analyze your workplace and to determine if it is keeping pace with these and other innovations.

If not, create a strategic plan to adopt a thoughtful mix of innovations in the coming year so that your company can continue to grow and evolve with the times.

 

 

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