MANAGING in the

NEW WORLD

The times when companies used to innovate to forge ahead are long gone. Now business innovation is a basic essential to survive. It is needed to avoid stagnations or to avoid gaps within the firm. With existing trends of cut-throat competition, others may arrive to take advantage of one’s innovation to eventually take away a slice of the market thus eroding profits. A number of firms make this mistake of not involving customers in the innovation process. Customer experience must form a vital part as evidenced by the lukewarm follow up this year towards Google Glass. It made a grand debut but customers feel some of the promises have not been followed. Apple Pay and Facebook Messenger’s pay button are promising a lot but are not unique as Google Wallet has been around for a while now. Customers’ problems can provide a window of opportunity for innovations.

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