Skip to main content

Innovation: The next level in business management

Michael Saltzstein knows only too well the importance of innovation to the growth and success of a company.

Image Source: news.sap.com
With the rapid advancement of technology, business has picked up in almost every industry. Many of the more innovative companies today have experienced growth and expansion at a rate that simply leaves every other company behind. Just look at Apple and Amazon as examples.

The intense competition among businesses has prompted the best minds in the world to release newer and better products and services. In other words, innovation has been the catapult for many companies to expand their markets. The competition has gotten to the point where huge corporations employ thinkers from various fields to help research and development teams to “think outside the box.”

The ability to innovate has also made companies more flexible and durable in times of crisis. Innovation has become a skill that aids adaptation in times of great change. And Michael Saltzstein notes that it isn’t just about purveying cutting-edge products, it also means developing newer and more efficient operations.

Innovation is the ability to adapt and change given particular circumstances. It does almost always introduce a novelty, but it does not necessarily suggest inventing new practices. Additionally, worthwhile innovations are often sustainable. This is where many businesses fail. They become complacent, or worse, unmotivated to continue.

In so many ways, innovation as a skill in a company’s personnel has helped organizations branch out and become more that what they were forecasted to be. And this is a good thing as it broadens the horizon of the future where, as Rod Serling used to say, the only limit is that of our imagination.

Michael Saltzstein served as the Chairman for Risk Management Task Force, Local General Chairman, Local Officials Chairman, and Local Safety Chairman for USA Swimming. He has been a volunteer and official for the organization for over three decades. To read more about corporate risk management, visit this website.

Comments

Popular posts from this blog

Effective Strategies for A Win-Win Negotiation

pexels.com Leaders like Michael Saltzstein are constantly engaged in some form of negotiation. They have to negotiate with customers, other businesses, or parties external to the organization. In many cases, they also have to participate in discussions with partners and team members. Negotiations have to be fair and well-balanced to ensure that both parties involved will benefit in the long run. This article explores some strategies that can help leaders encourage a win-win negotiation. Prepare and be knowledgeable . Before coming to the negotiating table, you must have reviewed all the information necessary for the discussion. Furthermore, it would be advantageous to have already identified the alternatives that are available for both your organization and the other side. This is only possible if proper research and analysis have been conducted. Set up multiple offers. A common mistake that has been committed time and again when it comes to negotiating is having only one offer on t...

What business leaders are learning from the Coronavirus outbreak

Image source: businessinsider.com The onset of the Coronavirus or COVID-19 has been a shock to businesses throughout the country. Because of state-wide lockdowns and preventive measures, almost every business has had to adjust in one form or another in order to ensure the continuation of operations and secure the safety of employees. Unfortunately, not every business can operate under these new conditions. Michael Saltzstein predicts that this outbreak will force most businesses to adjust to a new reality. And while this outbreak will eventually pass, it shouldn’t stop business leaders from learning something new from this unique experience. Here are some lessons business leaders are learning from the pandemic. Business continuity plans were tested It’s hard to imagine a multinational corporation ceasing operations. That is until now. Seemingly large operations that may seem too big to stop had to grind into a halt. Businesses that have emergency continuity plans have...

Michael Saltzstein: Three Ways to Effectively Motivate Your Team

Unsplash.com Michael Saltzstein on Ways Leaders Can Encourage Their Employees Michael Saltzstein emphasizes that employee motivation is important to keep a business thriving. As an industry leader, he knows managers have a role to play in empowering the people they work with. While it's important to act professionally, workplaces don't need to be places of apathy. Instead, executives, supervisors, and other superiors can be encouraging authority figures that inspire employees to do their best. Michael Saltzstein suggests these three ways to effectively motivate your work team. Be open with employees. While there may always be some information you shouldn't share with your employees, it's important to relay necessary information about the company, the department, and even the team. Providing regular updates on projects and policies will give employees a sense of security. Doing so will also keep them on the same page regarding the firm's goals and overall dire...