Be wrong with more confidence for greater success in business

If you are not prepared to be wrong, you will never come up with anything original. Mistakes and errors of judgment are key to success! Has your creative mindset been beaten out of you bye your own frustrations with creative process or by other people with various motivations? You’ve just found a place where you can revitalise your creativity and drive your business ideas forward for greater success in future.

Unlocking Originality: Embracing the Power of Being Wrong

Imagine the world without electricity, penicillin, or the Wright Brothers’ first flight. These groundbreaking innovations were born not from the pursuit of guaranteed success, but from the willingness to challenge established norms and embrace the possibility of being wrong. This seemingly counterintuitive approach forms the bedrock of originality, a vital force in art, science, business, and every facet of human endeavour.

However, ingrained fears of judgment, failure, and societal expectations often create a formidable barrier to embracing “wrongness.” This article delves into the profound connection between accepting the possibility of being wrong and unlocking our capacity for genuine originality.

We’ll explore the psychological and societal factors that fuel the fear of being wrong, illuminating its detrimental effects on creativity and innovation. We’ll then showcase the transformative power of embracing “wrongness” as fuel for growth, highlighting how mistakes can be stepping stones to remarkable breakthroughs. Finally, we’ll equip you with practical strategies to cultivate a growth mindset, fostering an environment where experimentation, open dialogue, and learning from failures are celebrated.

By the end of this journey, you’ll be armed with the knowledge and tools to dismantle the fear of being wrong, unlocking a world of creative possibilities and propelling yourself towards truly original contributions in your chosen field.

1. The Fear of Being Wrong: A Creativity Killer

Our aversion to being wrong is deeply ingrained. From childhood, we’re conditioned to avoid mistakes, fearing punishment and social disapproval. This fear stems from a complex interplay of psychological factors:

  • Fear of judgment: We dread the negative evaluations of others, the potential ridicule and ostracisation that might accompany being wrong. This fear, rooted in our need for social belonging, can stifle creative expression and risk-taking.
  • Fear of failure: Being wrong often equates to failure, a potent symbol of inadequacy and self-doubt. This fear can paralyse us, preventing us from venturing beyond the familiar and comfortable, even when it limits our potential.
  • Fear of the unknown: Stepping outside established norms often means venturing into uncharted territory, a realm fraught with uncertainty. This fear of the unknown can trap us in safe but stagnant routines, hindering the exploration necessary for originality.

Beyond individual psychology, societal pressures also contribute to the fear of being wrong. Educational systems often prioritise conformity and repetition over critical thinking and experimentation. Similarly, many workplaces reward adherence to established norms, discouraging the questioning of existing processes and the pursuit of unconventional solutions.

The consequences of these fears are far-reaching. In art, it can lead to derivative works, uninspired by the exploration of new ideas. In science, it can stifle groundbreaking discoveries born from challenging established paradigms. In business, it can limit innovation and hinder the development of solutions that truly address evolving needs.

2. Embracing “Wrongness”: The Seedbed of Originality

Embracing the possibility of being wrong isn’t about condoning recklessness or promoting ignorance. It’s about recognising the inherent value of mistakes as stepping stones in the learning process. This shift in perspective unlocks a powerful force for originality:

  • Fuel for growth: Mistakes provide invaluable feedback, highlighting areas for improvement and propelling us towards better solutions. This iterative process, where we learn from wrong turns and refine our approaches, is the lifeblood of innovation.
  • Gateway to exploration: The fear of being wrong often confines us to the familiar. By embracing the possibility of missteps, we open ourselves to exploring new avenues, experimenting with unconventional ideas, and venturing beyond the well-trodden paths.
  • Catalyst for breakthroughs: History is replete with examples of groundbreaking discoveries born from embracing “wrongness.” Alexander Fleming’s serendipitous discovery of penicillin, or the accidental invention of Post-it notes, are testaments to the power of unexpected outcomes leading to remarkable breakthroughs.

Beyond individual stories, organisations that foster a culture of open dialogue, experimentation, and learning from mistakes have reaped significant rewards. Google’s “20% time” policy, where employees are encouraged to dedicate time to personal projects, has led to the development of Gmail and other successful products. Similarly, Pixar’s “Braintrust” culture, where ideas are openly critiqued and refined, has contributed to the studio’s consistent production of critically acclaimed animated films.

3. Cultivating a Growth Mindset: Embracing the Journey

Cultivating a growth mindset, where mistakes are seen as opportunities for learning and growth, is key to unlocking the power of “wrongness.” Here are some strategies to embrace this shift:

  • Reframe mistakes: Instead of viewing mistakes as failures, view them as learning experiences. Ask yourself, “What can I learn from this?” and use this knowledge to improve your next attempt.
  • Practice self-compassion: Forgive yourself for mistakes. Remember, everyone makes them, and they are often stepping stones to success. Be kind to yourself and avoid dwelling on negativity.
  • Embrace risk-taking: Stepping outside your comfort zone is crucial for innovation. Don’t be afraid to experiment, even if it means encountering setbacks. Remember, the only true failure is not trying at all.
  • Seek feedback: Actively seek constructive feedback from others. This can be invaluable in identifying blind spots and refining your ideas. Be open to different perspectives and use them to improve your work.
  • Celebrate “wrongness”: Create a culture where mistakes are celebrated as learning opportunities. Encourage open dialogue and discussions about challenges, highlighting the valuable insights they bring.
  • Foster a growth mindset in others: Share your experiences and insights with others,encouraging them to embrace “wrongness” as a catalyst for personal and collective growth.

4. Caveats and Considerations

Embracing “wrongness” doesn’t imply a free pass for recklessness or the spread of misinformation. It’s crucial to approach this concept with responsibility and discernment:

  • Balance calculated risk with informed decision-making: While experimentation is encouraged, it’s important to have a basis for your actions. Conduct research, analyse data, and seek expert advice when necessary.
  • Responsible communication: Avoid misinformation and harmful ideas, even if they arise from experimentation. Be mindful of the potential consequences of your words and actions.
  • Critical thinking and discernment: Evaluate information critically, seeking evidence-based solutions and avoiding confirmation bias. Learn to separate valuable insights from mere speculation.

Conclusion

The fear of being wrong is a potent force, but it doesn’t have to dictate your journey. By embracing the possibility of error, you unlock a treasure trove of creativity and innovation. Remember, the most groundbreaking discoveries often arise from unexpected turns, from the willingness to challenge assumptions and venture beyond the familiar.

Embrace the power of “wrongness” as a catalyst for growth. Reframe mistakes as learning experiences, foster a culture of openness and experimentation, and equip yourself with the tools to navigate the journey with self-compassion and critical thinking. By doing so, you unlock your true potential for originality, leaving your unique mark on the world.

So, the next time you encounter a challenge or feel the fear of being wrong, remember this: It’s not a roadblock, but a stepping stone. Embrace the possibility of error, embark on the journey of exploration, and discover the hidden potential within yourself to create something truly original.

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Measuring Team Innovation

10 Steps To Innovating Your Business To Remain Resilient and Thrive Through Recession

Measuring Innovation in Your Team: A Comprehensive Guide

Innovation has become a key driver of success in today’s fast-paced and ever-evolving business landscape. As a team leader or manager, it is essential to measure and evaluate the level of innovation within your team. This article aims to provide you with a comprehensive guide on how to effectively measure innovation and foster a culture of creativity and continuous improvement within your team.

  1. Establish Clear Objectives and Key Performance Indicators (KPIs) Defining clear objectives is crucial to measuring innovation. Identify the specific goals you want to achieve through innovation and break them down into measurable KPIs. These KPIs could include the number of new ideas generated, the successful implementation of innovative solutions, or the impact of innovation on business outcomes.
  2. Foster an Innovation-Friendly Environment Creating a culture that encourages and supports innovation is essential. Provide your team with the necessary resources, such as time, tools, and training, to explore new ideas and experiment. Encourage risk-taking and embrace failure as a valuable learning opportunity. Foster collaboration and open communication to stimulate the exchange of ideas.
  3. Encourage Idea Generation and Brainstorming Actively promote idea generation sessions and brainstorming activities within your team. Encourage team members to share their thoughts, insights, and suggestions freely. Implement techniques such as mind mapping, design thinking, or hackathons to stimulate creativity and problem-solving.
  4. Measure Idea Conversion Rate Tracking the conversion rate of ideas generated into implemented innovations provides valuable insights into the effectiveness of your team’s innovation process. Monitor the progression of ideas through various stages, from concept development to implementation. Analyze the reasons behind successful conversions and learn from those that did not materialise.
  5. Assess the Quality and Impact of Innovations Evaluate the quality and impact of implemented innovations to measure the effectiveness of your team’s efforts. Consider factors such as customer satisfaction, revenue growth, cost savings, or process improvements. Use surveys, interviews, or data analysis to gather feedback from stakeholders and assess the impact of innovations on the organization.
  6. Embrace Continuous Learning and Improvement Encourage a mindset of continuous learning and improvement within your team. Provide opportunities for training and professional development to enhance individual and collective innovation skills. Regularly review and reflect on the innovation process, seeking areas for improvement and implementing necessary changes.
  7. Foster Collaboration and Cross-Functional Teams Collaboration is a key driver of innovation. Encourage cross-functional teams that bring together diverse perspectives, skills, and expertise. Facilitate knowledge sharing and create platforms for team members to collaborate on innovative projects. Measure the level of cross-functional collaboration and the resulting synergies.
  8. Utilise Technology and Digital Tools Leverage technology and digital tools to streamline the innovation process and capture relevant data. Use innovation management software or project management tools to track ideas, monitor progress, and analyse results. Analyze the data collected to identify patterns, trends, and areas for improvement.
  9. Recognise and Reward Innovation Recognise and reward team members who contribute to the innovation process. Celebrate achievements and acknowledge innovative ideas, successful implementations, or creative problem-solving. Create a reward system that reinforces a culture of innovation and motivates individuals to continue their innovative efforts.
  10. Seek External Benchmarks and Feedback Look beyond your team and seek external benchmarks and feedback. Engage with industry experts, attend conferences, or participate in innovation-related networks. Benchmark your team’s innovation efforts against industry standards and best practices. Gather feedback from customers, partners, or other stakeholders to gain external perspectives on the impact and value of your team’s innovations.Measuring innovation in your team is essential for fostering a culture of creativity, continuous improvement, and ultimately driving success. By establishing clear objectives and KPIs, creating an innovation-friendly environment, encouraging idea generation, and assessing the quality and impact of innovations, you can effectively measure and evaluate your team’s innovative capabilities. Embrace collaboration, utilize technology, recognise and reward innovation, and seek external benchmarks and feedback to further enhance your team’s innovation initiatives. Remember, innovation is a journey, and by continuously measuring, learning, and improving, your team can stay at the forefront of change and drive long-term success.

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Businesses must be able to benefit from change. We explore the importance of adapting to change in a business. What are the benefits of change in the workplace. Changes in business can be necessary due to external and internal business risk factors. Not all change has to be major. Small incremental changes, combined, can be more effective and beneficial to your business than giant leaps. Constant major changes can also be counterproductive.

  • What are the negative effects of change in business?
  • What are the positive effects of change in business?
  • Learn how to embrace change and innovation in your company.

Today’s organisation’s must embrace change to survive and prosper. Ensure your business has a culture of looking at change as an opportunity to improve not something to fear or resist. Explain the importance of accepting change positively to your employees and customers.

  • Employees will develop new skills which will make them more valuable to you but also more valuable in the marketplace.
  • Employees will have new opportunities to be more creative in alignment with new business objectives so both can navigate choppy market conditions.
  • Employees will become more engaged with and committed to your business as their ideas will help grow the business and their role within the business.

Sell the benefits of a constantly changing business to your employees so they can help you not run away from your business.

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We look at why change is important. Explain the importance of accepting change positively. Not forgetting both the negative and positive effects of change in the workplace. Control the negative effects of change while enhancing the positive effects of change.

Embracing change means embracing failure. Not all changes will be successful. However if employees feel that their ideas and failure of ideas will be accepted without recrimination and even rewarded, you will find the gems in the rough that will boost your business development.

You need and plan and a process to filter the ideas. Your plan needs to engage all levels of your organisation not just the management team.

Embracing change will help your business find and develop new ideas and opportunities to grow faster. Change in business is inevitable so why not embrace it positively at all times to get the best out of it and mitigate anything bad about change. Embracing change is essential for the future success and growth of your business so adopting a culture and a habit of embracing change will supercharge your growth. Change will no longer threaten your survival in business.

What are the benefits to customers when a business changes?

Adapt your business and embrace change to benefit old and new customers. A culture of embracing change and a process for managing risks of change will lead to more satisfied customers as well as more engaged workforce.

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Much innovation is born out of necessity – for example during times of war. The COVID period maybe our time of war. It as certainly led to the worst economic period for several hundred years including from two world wars. What we can learn from Abandoned Engineering on Yesterday Channel is that our forefathers have invested incredible amounts of money and energy in ideas that failed for various different reasons. If you want your business to be resilience regardless of the economic environment you need to adopt the right risk management strategy to give your business the best chance of surviving in all economic weather. We may think we have been unlucky. However, all previous generations have had their challenges. Our challenge is to be innovative, creative and resilient no matter what is thrown at us.

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Develop a more assured risk management framework and risk assessment process to match your risk culture. Make sure your risk taking remains within your risk tolerance.

Do you have loss aversion bias in decision making?

Business leaders who are loss averse feel the pain of loss much greater that any joy from any gains from decisions made. They make strategic business decisions accordingly. The risk culture of the business models the loss aversion bias of the business leader.

If this works well for your business you should continue with status quo. However if you would like to experience faster business growth you may need to take more calculated risks.

Loss aversion refers to the tendency to prefer avoiding losses to acquiring equivalent gains. It is better for you to not lose 10000 pounds than to make 10000 pounds in business. 

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However most entrepreneurs and many business leaders are in their position to better themselves. If you mitigate the potential losses from taking more risks and manage the risks to maximise the return on your investment you should end up with faster growth with less uncertainty.

It is more common in people who are not entrepreneurs or business leaders to be biased against taking risks. Loss aversion is a reflection of a general bias in human psychology. People tend to want to stick with what they know than make changes that might not work well. People in general are resistant to change. When presented with the potential benefits of change they focus more on what might be lost rather than on what can be gained.

  • What is your business risk tolerance? If you can make changes to try to grow faster that if do not work fall within your risk tolerance would you take more risk?
  • If you adopted small changes rather than one big radical all eggs in one basket change would you feel more comfortable? Spreading your faster business growth changes across a few new ideas may be better for your business. When you know which one of the new changes works best perhaps then you can focus on one new idea.
  • Do not confuse more risk taking in business with gambling. Taking calculated risks to grow faster is about assessing and then managing the risks before you action more risk taking. You can mitigate the threats from more risk as well as maximise the returns from taking more risks.

Few things in business life are guaranteed other than taxes! Even maintaining the status quo comes with the threat of business failure. Kodack photography business was once one of the most successful businesses in the world. How many Kodack films do you buy for your camera now!

The desire to avoid business losses is motivated by fear. The more a business leader fears losses the more likely he or she is to be loss averse and the more likely they are to be disinclined to make changes to their business to be more successful. Having a better understanding of the risks that could be taken to achieve more will make loss averse business leaders more comfortable with changing the the business.

Often the perception of risks and reward are skewed to the belief that you are doomed to fail which means you do not make changes to the business. By the same token it is important that all stakeholders in the business are involved in assessing risks from changes to business. Business leaders who do like taking risks can miss the pitfalls to mitigate against whilst making changes that can cause the change project fail even if it was a great idea.

With a little input and engagement from all levels of the organisation your project to grow faster is more likely to be a success. Take risks that are worth taking which are achievable with everyone onboard.

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Innovate or wither and die?

Is your business in zombie mode? Is it ticking along but with a little inspiration could be zooming along! Businesses which do not innovate could wither and die in the changes which are already in motion.

If you think the decade has been changing rapidly fasten your seat belt for the next decade! Even the best businesses growing healthily are going to be subject to existential choices.

Take banking industry for example. There is absolutely no reason you will not be banking online with Facebook Google or Amazon instead of Lloyds Barcalys or HSBC.

There are already internet only or app only banking businesses thriving in the UK. They do not have the costs of bank branch network. Fewer employees delivering what especially the younger generation want online. These apps will eventually sell car insurance house insurance mortgages credit cards et al that traditional banks offer. Why could Facebook Google or Amazon not do the same with their astronomical piles of cash. Yes I mean cash as they do not need to borrow money to lend money to you which will make them even more profitable should they start their banking arm of the business in UK.

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If traditional banking industry could fail to survive in future why do you think your business is safe?

Is it not a little arrogant to think your great business is going to survive the coming changes? If the UK ever gets up to speed with 5g which clearly it eventually will then another building block will be in place that will destroy many traditional businesses.

5G is both an opportunity and existential threat to many traditional businesses. Just because what you have done works for your business model does not mean it will work well in future.

are you really getting the most out of your solid business assets?

Even if you have a great business now are you sure it is operating productively? The greatest killer of UK economic growth is poor productivity. The UK does not perform any way near as productively as its developed competitors in the global marketplace.

Could your business grow faster if it took the slack from poor productivity out?

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Connect Airways Flybe BusinessRiskTV Business Collaboration Ideas

Could the consortium made up of the likes of Virgin Atlantic and Stobart Group become the example of better business collaboration? If it does not then they have missed a trick to disrupt the aviation and transportation industries.

What an excellent business opportunity to drive business to the business units that make up the whole?

  • Virgin Atlantic long haul specialists
  • Short haul aviation business which has fallen on hard times due to short term financial issues but should not be terminal
  • Energy aviation and rail business

They could all collaborate to drive new business to each other to create faster more profitable business growth

Flybe is being bought by a consortium including Virgin Atlantic and Stobart Group. Inadequate business development at the old Flybe a weaker pound and higher fuel costs all led to the near extinction of Flybe. Flybe shareholders will receive 1p a share and the new consortium saving Flybe from extinction will invest 100 million pounds in the new project. It will operate under the Virgin Atlantic brand.

The consortium saving Flybe is called Connect Airways. Flybe describes itself as Europes largest regional airline.

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Collaborative working is the future for sustainable business growth

Just three examples where collaborative business working could produce so much more with little increased risk assets or investment. In other words some traditional business leaders lack of creativity and innovative thinking is restricting the profitability of their business.

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Reinventing Your Thinking Reinvent Your Business Stay Positive

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Business reinvention with BusinessRiskTV

Change management thinking to a more balanced risk approach to threats and opportunities. Reinvent your business risk management model. Work with top thought leaders in the world of business thinking.

  • Evaluate your current business situation
  • Make more informed business decisions on how to proceed
  • Think about your appetite and business risk tolerance when considering what you want to achieve

The business marketplace is always changing. What people and business leaders want or expect changes. Change your business thinking to respond with more confidence. Proactively manage potential future risks better today.

Step guide to reinventing your business with BusinessRiskTV

Our guide to reinventing your business. Start with your risk management culture. Identify your management team risk appetite and risk tolerance. Identify your corporate tolerance to risk. The key to your business reinvention is your risk culture. You can then change your

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  • risk assessment process

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Develop a new business model for today and tomorrow

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Reinvent your thinking. Reinvent the way you respond emotionally to risk.

  • Is your risk perception reality?
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Choose a more certain more positive business risk management plan for your business.

  • Make sure you have the risk tolerance capacity to manage threats and right risk appetite to achieve greater business success.
  • Adversity and failure can help you become more successful especially if you mitigate downside risk.
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Get help to find the best way forward for your business. Create more value with less uncertainty from existing resources. Start planning for greater business success.

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Governance Risk Compliance GRC

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Coordinate your enterprise risk management strategy for managing corporate governance risk management and business compliance issues. Develop a more integrated holistic framework and risk management process.

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Developing more effective enterprise risk management practices

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Taste what we have to offer your business for free. Enter words or phrase that most interest you in our website search tool. If you find something that interests you come back again and again as it is likely we will have something else to help you in future.

Adopt best risk management practices to boost your business performance

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Whatever your style of management pick up ideas to change your business success outlook. Our global network of risk advisers offer best business risk management tips advice and support.

Talk online to our business risk management experts to solve your business problems faster and for free. Change your established risk management habits to reduce uncertainty in business. There maybe other ways for you to achieve the success you desire. Find out on BusinessRiskTV. Act on our ideas for effective risk management and risk management leadership to build your business resilience.

Eliminate unnecessary business bureaucracy and cost to lift profit

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Control the way you do things better without stifling or suppressing business growth. Indeed business risk management should create new business development opportunities and faster business growth. There does need to be appropriate levels of risk control protection and supervision but not at expense of business stagnation.

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Fourth Industrial Revolution

Make your your business benefits from the 4th Industrial Revolution with BusinessRiskTV.com

Exploring the threats and opportunities coming from the 4th Industrial Revolution. Network with top thought leaders to find out how to protect and grow your business faster.

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Future Of The High Street

What do people want from the High Street

Not just shops! Just shopping on the High Street is no longer enough for the consumer nor the High Street. We have to be a bit smarter more innovative and put into action a more radical approach to delivering what people want from the High Street now.

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Death of the High Street Statistics
The High Street will become a bigger part of the community not less

Britains High Streets have a bright future if entrepreneurs business leaders and local planners are a bit smarter

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The High Street will become a bigger part of the community not less if we work at building a better future for the High Street in UK.

Retail therapy is still important to many but the High Street can do so much more for the local community

Retail experts have a role to play on the High Street in the UK. They need to be a bit more imaginative creative and innovative to deliver a High Street fit for the future. Selling stuff is no longer enough. Entrepreneurial retailers will sell experiences night and day.

The notice of the Death of the High Street is premature!

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Tesco and Carrefour Strategic Alliance

Retailers continue to put pressure on suppliers to cut costs

Biggest retailers continue to create strategic alliances to maximise profit and protect mutual retail market share. Carrefour and Tesco plan to formalise an informal arrangement for global long-term purchasing alliance.

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The strategic alliance will aim to put pressure on global suppliers to reduce their prices. Such cost reductions will enable retailers to maximise profit or protect and grow market share.

Is the survival of your supplier business threatened? Will retailer strategic alliances crush your profit? How can you change your small medium sized business strategy to combat continual pressure from big supermarkets?

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Retailers have to respond to threats to their core business objectives. The world of retail is currently undergoing seismic changes. The pace of change is only going to accelerate. How prepared is your retail business to manage threats and seize new business opportunities?

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Digital World

Our Digital World

Digital world supports the real world. The digital world rate of change is set to accelerate. It threatens millions of jobs and creates new jobs. Train to take advantage of bright new digital world.

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Take advantage of digital world

Balance out the threats and opportunities to your career. Train to take advantage of bright new digital world.

Digitalise your existing SME to grow faster. Start a new business to achieve your dreams and ambitions.

Bring your products or services to the attention of marketplace

Partner with C&C Associates and other business leaders. Seize new business opportunities from the new digital world.

  • Existing technology is not being used to maximise potential benefits
  • Emerging technology is yet to be explored to realise potential
  • Yet undiscovered tech developments need to be grabbed wholeheartedly

Riding best waves require you to be just in front. Being behind the wave means you miss out. Being ahead of wave risks your assets being wiped out! Getting timing just right requires training tips and advice.

Ride the new digital world!

Explore the digital world more today. Stay informed about digital technology world. Do not just learn about technology. Use it in practical way to grow your business.

  1. Make the most of every new development
  2. Help others to develop their knowledge
  3. Make the digital world a real lifestyle choice

Shape your future world of business. Jump aboard the digital revolution! Empower yourself and your employees. Engage your customers more. Win new customers more profitably. Make the most of your business physical assets with cyberspace. Integrate your bricks and mortar plans with ecommerce. Innovate in digital world with help from new partner network.

Invest in the digital education and promotion. Deliver what your customers and potential customers need faster.

Being a member of BusinessRiskTV.com is free. Receive free alerts. We will use your data to keep you up to date. Stay ahead of digital world information more easily.

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Thinking Differently

Making Business Better By Thinking Differently

What has worked in the past will probably work quite well in future, but we are thinking differently to find ways that will work better for business.   Thinking differently about business threats and opportunities to build resilience and greater success.

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Exploring business innovation and new ways of doing things that are better for all business stakeholders.

  • Helping to inspire business leaders to achieve more with existing resources.
  • Collaborating with realistic pragmatic people.
  • Guiding like-minded individuals around the world.

Bringing entrepreneurs and business leaders together to work on future today.

Are you happy with the way your business is performing?   Could you squeeze more out of your existing business assets to achieve more?   Great change can come from thinking differently together.   Take the first step to changing your business for the better by contacting us now below and enter code #ThinkingDifferently

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Insurance Collaboration

Making insurance easier and cheaper to buy and sell with BusinessRiskTV.com

Finding and marketing insurance online.

Call for insurance collaboration

Looking for a way to disrupt the commercial business insurance marketplace? Could Amazon Apple or Google sell commercial insurance policies cheaper and better? You are damn right they could. All three have pots of cash they could invest in selling business insurance more cost effectively. Will it happen perhaps not.

Once banks sort themselves out a while away I give you that they could become dominant virtual insurance companies in the commercial insurance marketplace. What about

  • Walmart or other supermarkets selling commercial insurance
  • Oil producers  might start deploying their money in other less risky ways to make a profit
  • State funds like Dubai or Norway built on oil could see insurance as an opportunity. An opportunity to totally disrupt the insurance marketplace

Apple and Google will take over the automotive marketplace in the future if Tesla are not too busy trying to get to Mars. Maybe too busy to attack the commercial business insurance marketplace but their innovative approach is a very good example of how traditional thinking in business could result in an obsolete company. BMW Ford et al none of them are immune and neither are insurance companies or insurance brokers.

Maybe your clients will buy their commercial insurance whilst on a flight across the channel on a business trip to USA. The insurer? Norway State fund is more stable than any insurance company. It might even take over a smaller insurance provider and use it as a base to disrupt the insurance marketplace.

Is the traditional insurance marketplace too big to be attacked?  Well AIG were not too big to fail. Smaller players in the insurance marketplace are not too big to suffer failure from different cause disruptive innovation.

Traditional ways of selling and distributing insurance cover to businesses are working

However could they also be done differently? We believe so and are seeking insurance provider partners to work with us on designing innovative ways to market and sell commercial insurance online locally and globally.

Integrating commercial insurance in holistic risk management could head off insurance marketplace disruptors from wherever they emerge.

However traditional ways of using insurance cover to help give business leaders a quiet nights sleep may be too conservative to survive.

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Our point of contact to discuss more profitable ways to delivering insurance protection is Keith Lewis.

Do you want to grow your insurance business faster, more profitably and more sustainably?

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Protect yourself and benefit from innovation driven business growth

The 4th Industrial Revolution is upon us. For some it will be a plague but for others it’ll will be a feast.

Every day you can find multiple great ideas that could potentially disruptive the current way of doing things. My favourites at the moment are flying modes of transport that could easily replace vehicles that have to travel on roads and flying machines that briefly go to space to get to their destination quicker. They may seem like far off technological developments, but the technology works now.   Its flight rules and regulations that will hold them back to protect carmakers and airplane makers not technology risks.

Everyday new innovative ideas and products flood onto the market. For most it will be like Tomorrows World. The innovative ideas will not be sustainable. We want to work with people who want to take over the world in a good way!

Pull in our resources to make innovation-driven business growth more likely to succeed and maximise the return of your investment of time and money.

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If you don’t have time to be innovators you may need to find time to protect against business market disruptors

Fatal existential business decisions are easy to see in hindsight. Foresight consultants can help you take steps to protect yourself from your own poor business decisions.

Anyone can take a wrong turn. If you’re lucky the decision may not be malignant. You might survive to fight another day. On the other hand.

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Your brand maybe vulnerable to others who have been thinking differently, or from changes to the marketplace. It may fail cause your performance ain’t good enough, or because your competitors change the rules of the game.

How you fail may not matter too much after you’ve failed. It will be too late to consider what you are doing wrong. Kodak didn’t want to change when they had to change to survive. They were making too much money from photographs to change to embrace digital photography. Market changes can kill the best businesses.

The best form of defence is often attack

Being more innovative or creative can be frightening. Picking the wrong horse in a paddock of new opportunities can be very costly. Innovation can also be exciting and highly rewarding.

How To Increase Sales More Sustainably In Business

We aim to make innovation for you more exciting and rewarding as well as reducing the uncertainties that accompany innovation and creativity. Disruptive innovators can draw on our tips advice and support to become more successful with more certainty.

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Where is the automotive industry going

Exploring the future of automotive industry on BusinessRiskTV.com

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New Automotive Industry Entrants and Cross Sector Collaboration Will Bring New Threats and Opportunities

Where is the automotive industry going
The blurring of lines between old world car manufacturers and hi-tech new world manufacturers continues in world of 4IR

22nd July 2020 Fiat Chrysler will develop fully self driving commercial vehicles with Waymo

Fiat Chrysler Automobiles FCA News Report July 2020
Fiat Chrysler Automobiles FCA News Report July 2020

2nd July 2020 Tesla is now worlds most valuable carmaker overtaking Toyota

Whilst Toyota made 30 times more cars in 2019 Tesla share price now has made Tesla a more valuable carmaker

Tesla has now demonstrated several quarters of profitable business growth. The future is electric and Tesla offers more future value than any other manufacturer who makes electric cars.

26th June 2020 Amazon Robot Delivery plus Amazon Autonomous Self Driving Vehicles To Buy In Showroom?

Amazon is one of the most successful businesses at developing innovative business growth strategy. Last year Amazon invested half a billion dollars in self driving car startup Aurora Innovation Inc. This year it looks like Amazon is continuing its investment in the car sector.

Amazon Robot Delivery

Amazon has bought robotics and autonomous vehicle company Zoox. Are they just beefing up their knowledge and business intelligence for robotic self delivery or would you buy an Amazon self driving autonomous car from a showroom instead of a Tesla. Amazons purchase of Zoox is in the region of 3 billion dollars.

31st October 2019 PSA Group the owner of Peugeot and Fiat Chrysler Agree 50 Billion Dollar Merger

The merger will create the fourth largest automotive manufacturer in the world. The merger is needed strategically due to the significant investment required by both firms to keep up with the competition. Both firms need to invest heavily in electric cars and driverless technology to be ready now never mind the future sustainability.

28th August 2019 Toyota and Suzuki Collaborating On Self Driving Car Technology

Toyota and Suzuki announce they are working together on self driving car technology.

Toyota will take a 4.9 percent share of Suzuki Motor Corp and Suzuki will invest in Toyota

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22nd August 2019 Audi Daimler Ford and BMW Developing Alliance To Build Advanced Driving Assistance and Autonomous Systems According German Wirtschaftswoche Article.

The automotive manufacturers are collaborating on autonomous driving and parking systems.

The 4th industrial revolution is about to turn the automotive industry upside down  rip up traditional business models and will come out the other side better and stronger but very different.

Many new features in cars and other vehicles that took a decade to normalise across the industry will need to be incorporated in a few short years. The automotive industry as always evolved but a revolution is under way.

  • Those who don’t keep up will be squashed to death!
  • Those that get on the bus will see a very different road ahead.
  • Those that resist change will cease to exist, and those that embrace change may or may not benefit from the changes

The pace of change within components that do or could go into vehicles is fast but the pace in which the automotive industry is changing is breath-taking, and its accelerating!

The world’s auto industry will have more customers demands to meet, but what are they going to deliver and when? Automated vehicles powered by renewable energy is nothing new. How quickly can society keep up with what is possible on the roads? Will automotive industry take to the skies!   Will we get into autonomous vehicles AV and literally fly to work whilst playing computer games! Will the automobile get swallowed up whole by Google Apple and Sony?

The greatest challenge for the car industry is very similar to the greatest challenge for all gadgets gizmos plant machinery and equipment particularly those presently powered by carbon based power sources. Its battery technology that needs to change.

Tesla is leading the way not in cars but in batteries. Tesla batteries are being used to store power from the National Grid in the UK and then being fed back into the UK national electricity network when needed.

Decarbonisation is one factor driving the need to boost battery power for longer on remote items of plant and equipment like cars. However battery technology is key for all parts of global society for different reasons. In less well developed economies battery technology improvement will create new markets domestically and international trade development. In well developed economies like UK battery technology improvements will totally change what we manufacture and how we manufacture it.

Dyson cars will lock horns with Tesla cars but both will invest more in batteries than car design.

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3rd October 2018 GM and Honda New Project

General Motors and Honda have announced a partnership to develop and build an autonomous multi use vehicle together.

13th June 2018 VW Fined 1 Billion Euros By German Prosecutors

Volkswagen has been fined by German prosecutors for diesel emissions scandal. VW has already been fined by other countries for cheating the tests for diesel emissions. VW has agreed to pay more than 4 billion dollars to resolve criminal and civil penalties for installing illegal software in diesel engines to cheat USA anti pollution tests.

15th March 2018 Auto Parts Maker New Strategic Direction

Automotive parts supplier Magna International Inc will invest $200 million in ride-hailing firm Lyft. Their new partnership will develop and manufacture self driving cars.

20th February 2018 Ford Aims To Set Up German Bank To Offset Any Brexit Risk

Ford wants to set up a bank in Germany in late 2018 and has applied for a banking licence as part of Ford’s strategy to mitigate any risk from Britain leaving the European Union after the Brexit vote in June 2016.

Ford Credit Europe will remain headquartered in Britain and the new bank plans will not result in job losses or significant changes to where employees are based.

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BusinessRiskTV Where is The Automotive Industry Going

Leaders In Business Innovation

UK Business Leaders Finding Innovative Ways To Be More Successful

Business innovation is the most important way to beat other companies to find new income streams and develop profitability in the UK.

Driving Business Innovation and Creativity
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UK Business Leaders must seize the opportunities which will flow from Brexit if they are to survive and prosper. Even incremental gains in existing business practices can help secure a more resilient future.

Innovation Lab BusinessRiskTV Innovation Workshops

Turning Business Opportunities Into long-term business success

Attract new customers and sell more to existing customers with our Business Innovation Forum.

Disruption Innovation Tips BusinessRiskTV Disruptive Innovation

Creating Culture Of Innovation

Business innovation doesn’t grow on trees!   It needs a framework and a creative business culture to provide a real insight into how a business can change to take the opportunities it has in front of it.

Business Innovation and Skills Development For Business Growth

Do you know what your competitive advantage is

If not how are you going to identify it? If you do how are you going to capitalise on it?

Develop your business processes to ensure that innovative initiatives reach into your business strategies to ensure more success in future that is more sustainable.

Competitive Advantage BusinessRiskTV Strategic Management Insight

How successful is your leadership team at business innovation

Change your management team’s business innovation thinking to make the most of your business assets.

Business Innovation Business Growth
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How to make your business stand out from the crowd

Sell More Overseas Selling Overseas Online BusinessRiskTV

BusinessRiskTV Business Innovation and Creativity

Drive Your Business Forward

Small and medium sized business owners find solutions to business problem road blocks

Disrupt your marketplace to win new market share and boost your business profit

If you don't drive your business forward your set for failure
Drive Your Business Forward

 

Be inspired to innovate and create more business success

Create new business opportunities for growth. Become more cost efficient. Drive your business forward faster.

Strategy Consultants and Experts For Business Solution Partnership

Get more customers increase sales and create more profit

Re establish your foothold on your business marketplace. Learn how you can make your business more profitable.

Pick up new business development techniques to increase your profit and drive your business forward. Find new business ideas you can deploy to increase sales. Move your business success forward a notch or two.

Let us help you build your brand reputation

Business Growth Partnership Forum BusinessRiskTV Growth Hub

Examples of bad business decisions and brand failure

Decisions BusinessRiskTV Making Better Business Decisions

Northern Powerhouse Business Developments BusinessRiskTV

BusinessRiskTV Drive Your Business Forward don not slip backwards

Protect Your Business Better

Build your business resilience with BusinessRiskTV

Understand your risk-management needs with BusinessRiskTV to manage real life enterprise risks better and more cost effectively

No real business success without taking more risks

Protect The Value Of Your Business Brand

Building your business takes a lot of time, effort and money. This can be lost in the blink of an eye. Where the threats come from are not always obvious and even the obvious ones may cost more than you think.

How To Protect Your Business From Competitors

Delivering a great product or service is key to protecting your customer base but that will not guarantee long time business resilience.

Long-term business resilience must include a clear business growth strategy.

HOW TO PROTECT YOUR SMALL BUSINESS MORE COST EFFECTIVELY

Controlling threats to your business you business can be expensive but try not controlling the threats to your business. That may cost you your business survival.

BusinessRiskTV Protect Your Business Better

Develop Innovative Business Ideas and Plans To Grow Your Business Faster

How to grow business tips with BusinessRiskTV.com

Use innovation to give your business a competitive edge. Grow your business faster. Learn how to grow your small business with marketing from BusinessRiskTV.

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How To Expand Business Tips

Learn how to grow a business lessons from leading entrepreneurs, management consultants and key business decision-makers in business.

How to grow your small business

Develop a new business expansion strategy with BusinessRiskTV.com

Access tips opinion and analysis of how to grow your small and medium sized business. Pick up real life practical tested ideas from successful business executives.

New strategies for growing your business

Faster growth ideas are easy to implement with BusinessRiskTV and its sister websites and business partners. Discover innovative business solutions will you you to grow your business faster.

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Discover new ways to protect and grow your business with BusinessRiskTV

#BusinessRiskTV #GrowYourBusiness #StartBusiness #BusinessGrowth #GrowMyBusiness

Develop Innovative Business Ideas and Plans To Grow Your Business Faster