Three Principles to Sustainable Growth
May 15, 2023
In the latest edition of Fortune Business Review, Shantala Sadananda—Innova’s President of Banking & Financial Services SBU & Emerging Markets—offers the following advice for businesses looking to sustain their growth.
Embrace a Culture of Active Experimentation & Adaptation
Firstly, Shantala encourages businesses to embrace a culture of active experimentation and adaptation. This involves creating an environment that encourages experimentation, failure, and continuous improvement. By staying in a beta state, businesses can experiment with new ideas, products, and services, fail early and often, and learn from these experiences to succeed faster.
Apply Keen Observation
Secondly, Shantala emphasizes keen observation as the first step to learning. Observation allows businesses to gather insights and identify patterns that can help them make informed decisions. This could include examining customer behaviors, industry trends, and data patterns. By carefully observing and analyzing these factors, businesses can make more informed decisions and take actions that lead to sustainable growth.
Focus on Building a Strong Community
Finally, Shantala emphasizes the importance of building a strong community within a business. By encouraging knowledge sharing and innovation through collaboration, businesses can gain an outside-in perspective that helps them understand their customers’ needs and challenges better. Additionally, by understanding their people and their challenges, businesses can build a more motivated and engaged workforce that is better equipped to drive sustainable growth.
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