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Continuous innovation is a necessity, experts say

Organisations that want to thrive during periods of hardship need to focus on continuous innovation that will allow them to be prepared for any future disruptions, said Rahul Misra, VP of Oracle UAE.
Speaking in a session at the 2020 Remote Workforce Summit, Misra noted that the Covid-19 pandemic has challenged both individuals and organisations, especially when it came to adapting quickly to change.
"We saw the world go truly digital almost overnight," he said. "It was apparent very quickly that we all needed to come together if we were to emerge stronger. And, we saw this happen as whole communities came together, and companies that had never worked together soon announced partnerships that saw them tackling challenges. One of the best things that has happened is that we are now far more transparent and open with each other."
Misra also pointed out that there is not a single business out there today that has not been disrupted as a result of the pandemic. Some industries, he said, will continue to be disrupted for a very long time.
"The impact of the change is still being understood, and business resilience is now a major topic being discussed everywhere," he said. "Technology will be at the heart of any business resilience plan."
Another key factor that organisations have to focus on is continuous innovation. "The drivers of your success yesterday might not be relevant today. Organisations have to remain positive and look at business continuity and sustainability. They should also be prepared to challenge conventional thinking to come up with out of the box ideas. Most of all, remember that your employees are your most important asset, so you need to communicate with them to ensure their wellbeing."
Looking ahead, he urged businesses to prepare for a rebound and to grasp opportunities. They also have to accelerate their readiness for the aftershocks that will come following the pandemic.
rohma@khaleejtimes.com