While radical overhauls capture the innovation headlines, incremental improvements are often the unsung heroes of strategic success in business. Fatih Ogun, Head of Strategy at Akbank, explains how a continuous culture of innovation based on small, steady enhancements can provide a sustainable path for business evolution.
In the fast-evolving business landscape, the quest for sustainable success increasingly hinges on the ability to implement incremental improvements in business models. This approach, often overshadowed by the frequently mentioned success stories of radical innovation, serves as the backbone of the strategic evolution and resilience of organizations. This article delves into why incremental improvements are not merely beneficial but essential for the long-term success of business strategies.
Incremental improvements allow businesses to adapt continuously to changing market conditions, customer needs and technological advancements. By focusing on small, steady enhancements, companies can ensure their business models remain relevant and competitive without the risks associated with large-scale changes. One frequently repeated example of this: The invention of the automobile is a radical innovation, however the culmination of steady improvements over many decades is just as radical as the invention itself. This methodical approach facilitates the testing of new ideas and the refinement of existing processes, products and services in a controlled, measurable manner.
Want to keep reading?
Create a web account to get access to more insights
