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Innovation in business

Read a blogpost about being innovative in business to practise and improve your reading skills.

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Reading text

What does it mean to be innovative in business?

In order for a business to survive in today's world, it is important that we regularly review what we are doing and how we are doing it. By considering new ideas and new ways of doing things, and trying to innovate, we can improve on our products/services, increase sales, reduce costs and make our processes more effective and efficient. Innovation is key to increasing profits.

There are several ways a company can be innovative with their products and services. Today we will look at four of them.

1. Using the latest technology to improve your product/service

When we think of innovation, we often think of new technologies. While they might be impressive, we should not use new technologies just because they are available. It is important to consider how the technology can improve our product/service and make a difference to our customer. Companies that produce cars, toiletries, household appliances, etc. often have a large R&D department to work on making their products better.

2. Responding to customer demands by changing what is on offer

By listening to customer feedback, we can get their opinions on how we are doing and find out about what it is that they want. We also need to be aware of changes in customer demands and keep up with the times. When fast-food restaurant McDonald's realised that the market wanted healthier choices, they introduced fruit and salads, while removing the 'super-size' option from their menus.

3. Offering a new product/service to reach new customers

Your business might be doing well, but there is no growth or development and there is a risk that your competitors might take away some of your customers. Innovation sometimes means developing a new product that targets a different market. Although video games were often played by boys, in 2006, video games giant Nintendo introduced the game console Nintendo Wii, successfully targeting girls and older customers with games like Cooking Mama and Brain Training.  

4. Changing the way you provide a service

By looking at the changes to the customer's lifestyle and needs, we sometimes realise that there might be better ways to serve them. Customers who do not have a lot of time might prefer to have their food or their shopping delivered to their homes, or they might like to do their banking online rather than in an actual bank.

Not all innovation will bring success to our businesses, but it can give us the opportunity to grow and learn more about what we do and what our customers might want.

Discussion

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Intermediate: B1

Comments

The latest innovation favourite for me is the electric scooter skate because is economic, ecological and portable.

The last innovation services I used, because of quarentine, was Homeoffice. It demands a lot of skills about rutines and effective time management. Although I must use many different tools for virtual work.

Some of the latest innovation in the products and services that I use includes invention of latest technology, offering of new product, sophisticated way of rendering services, ways of attending to customers and so on.

the latest innovations in products and services that i use, are the new technologies that we use or try them every moment in our life, splendid smart phones and new screens and the different programs in direct relation to this innovations.

Since the world is facing a serious threat that haven't been faced the Spanish Flu that hit the entire world a century ago, many innovations are now diverted to medical supplies.

Realy its very good topic to discuss..

I would request the Team learn English to describe the topic Innovation so that we could get a better writing skill.

Thank you

Hello Mamta Gusain

Can you see the Reading text above? The article there describes different kinds of innovation in the world of business.

Reading the article could certainly help you with your writing skills. I'd also suggest you have a look at our Writing section, where you'll find different kinds of texts with some tips on how to write similar ones.

Please have a look and let us know what you think.

All the best

Kirk

The LearnEnglish Team

One of the latest innovations in the service I have used recently is the way i pay for things i buy. In the old days, when i bought some things, i used to pay for it by cash but everythings have changed, citizens prefer cashlesh payment, with a phone connected to the internet, i can buy things without bring any cash.

Thanks British Coucil Team and i really happy to have some feedback on my commention to help me influence in writing.

Innovation is very important to keep your business, but we have to know what are needs to your customer in order to find the idea which you 'll allow to have more or new business.

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