Companies that address tomorrow's challenges today will be the ones that thrive in the future. Their business activities will have a positive impact on the surrounding world. Those who question and want to change existing practices understand what is meaningful to people – whether customers, employees or partners – and offer ways to attain personal goals.
Competition increasingly comes from outside companies' own sectors, putting conventional business models and practices to the test. Customers expect companies to do something new and meaningful, while employees want to feel inspired and passionate about what they do. The beaten track is no longer the road to success. A radically different approach is called for.
Naturally, there are countless ways of achieving success. We would encourage companies to explore new avenues of value creation, in order to discover a source of inspiration and a new angle. Consider these three core questions:
- What is the reason for our existence?
- How can we enable others to engage in meaningful activities?
- Which business models provide the best opportunity for value creation in the digital age?
A successful company needs a mission that makes a positive impact on the lives of its customers and partners, and on society. While business performance is measured by financial indicators, there are other yardsticks for gauging the success of visionaries. People are always at the heart of value creation.
If we understand what people regard as most important and valuable, we can develop solutions our customers will love. This is what encourages employees to put themselves on the line in any given situation. With a clearly defined goal and purpose in mind, it is easy to a create a corporate culture that allows people to thrive and do things that are meaningful for customers.
Digital and network-based business models offer the most effective framework for value creation with a new, broader purpose in mind. These service platforms provide opportunities for new interaction between people and allow small companies to challenge bigger, more established operators. Such developments lead to innovations that revolutionise entire sectors, RePack in the packaging industry being a case in point.
What is the recipe for new value creation? Intensive discussions on this topic will be held at the Nordic Business Forum and Teknologia 15 event held in early October. Tekes is a partner in both events. We encourage participants to drop by the networking area in Tekes Café and share their recipes for future success with us, or to post them on Twitter #Tekes15 and #NBForum2015.
Stand by for further announcements, as we continue to assemble the ingredients of value creation throughout the autumn. Tekes will help you put your value creation ideas into practice.
Minna Suutari, Programme Manager, Feelings programme
Nuppu Rouhiainen, Programme Manager, Liideri – Business, Productivity and Joy at Work Programme