Combining strategy and innovation for long-term growth
Professor Mark Jenkins
Professor Patrick Reinmoeller
Technology is all around us. Most of us choose to use some form of technology in most areas of our lives, at work and at home. So, for companies whose business is centred around technology provision, the opportunities are huge. Get it right, and the potential growth is exponential. Get it wrong, and you risk falling by the wayside, while those who got it right leave you in their tyre tracks. If you want proof, look no further than the likes of BlackBerry, AOL and MySpace, all pioneers of new technologies who failed to keep up with the changing times and paid the price.
Small and medium-sized enterprises (SMEs) focused on technology have a unique opportunity. Their relatively compact size allows them to react quickly to remain at the forefront of new technology as it emerges and evolves, when bigger companies may struggle. However, in order to maximise the potential of this new technology and use it to fuel growth, SMEs need a solid business strategy underpinning everything they do. In this whitepaper, we explore how combining these two elements – responsiveness and strategy – provides businesses with all the tools they need to succeed.