How do you create and protect value within your organization?

GROWTH STRATEGY: THE CONTINUOUS VALUE-CREATION CYCLE

According to Harvard Business Review authors David A. Hofmann and John J. Sumanth, to truly innovate and grow an organization, leaders in every role and at every organizational level must be attuned to how they are creating new value while simultaneously protecting existing value.

But how exactly can leaders do this?

Hofmann and Sumanth offer four steps leaders can take to ensure an organization’s continuous growth and innovation.

Step 1: Communicate clear expectations to all leaders

Every individual should be expected to pursue value-creation opportunities regardless of where they are situated organizationally. By clearly communicating this as a performance expectation, both team members and leaders can better monitor and ensure that they are meeting this expectation.

Step 2: Craft focused priorities

Don’t try to innovate everything, everywhere, all at once. Instead, leaders must focus their energies and efforts on a few key areas only. By limiting innovation efforts to just a few things, leaders can better focus their limited resources and strategically position themselves to have the greatest positive organizational impact.

Step 3: Ask critical questions and define the criteria

Leaders at all levels must also ensure that their efforts are aligned with other initiatives. How? Start by asking the following questions:

→ Does this initiative/change support the organization’s larger vision, mission, and strategy?

→ Is this a critical bottleneck or constraint?

→ Does this leverage our current knowledge, skills, and abilities?

→ Does this lay a foundation for the next innovation?

Step 4: Evaluate and repeat

Value creation is not a one-time proposition, but rather an ongoing cycle of identifying value creation opportunities, pursuing them, and re-evaluating them. Eventually, innovations that once created value become the new standard and thus leaders need to look for new opportunities to optimize their processes.

THE HEADLINES
In this week’s edition of In the Loop, we’re featuring the following innovation/growth strategies and stories:

🇸🇬 Surviving storms with Hocklim Engineering

🇰🇭 3 KPI-tracking tools to propel your business

🇺🇸 One Japanese restaurant is bent on taking New York, one bento box at a time

FEATURE STORY
Surviving storms with Hocklim Engineering

🇸🇬 SINGAPORE, SG — What if businesses could protect themselves from floods and soil erosion? For many business owners in Singapore and other regions prone to natural disasters, intense rainfall and landslides pose real dangers that can cause devastating property damage.

GMI POST met with Hocklim Engineering to ask about the Geobarrier System (GBS), its latest innovation that prevents future slope failure and enhances livability through increased greenery.

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ARTICLE
3 KPI-tracking tools to propel your business

🇰🇭 PHNOM PENH, KH — The foundation of a solid growth strategy for any business is its Key Performance Indicators (KPIs). But are you still using outdated technology to track your key metrics?

Here are three tools that automate the analytics process and help visualize the most important KPIs for your business’s growth.

READ MORE

FEATURE STORY
Bent on taking New York, one bento box at a time

🇺🇸 NEW YORK, NY — Founded originally as FUJI Catering in 2006, the Japanese ready-meal business BentOn began as a humble dream by Toru Furukawa, a third-generation bento (pre-packed meals) business owner from Tokyo who wanted to introduce traditional Japanese bento culture to New York City.

READ MORE

MORE FROM GMI POST
Canada Business Report 2024: Building a Partnership for the Future

🇨🇦 Rooted in shared values and mutual interests, the relationship between Canada and its next-door neighbor, the United States, has grown beyond the economic and political spheres.

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👉🏻 Be featured in The Japan Times!
GMI POST is currently creating investment guides for Cambodia and New York and New Jersey, USA to be published in JT. Send us an email to participate.

👉🏻 Be featured in Foreign Affairs Magazine!
GMI POST is currently creating a country investment guide for Singapore to be published in FA Magazine. Send us an email to participate.