Corporate culture is the foundation of innovation.
The EU announced earlier this month that it would provide the funds for innovation to hundreds of European businesses as part of its Horizon 2020 program. Bayrock will receive free business coaching and acceleration services. This program will be an effective catalyst for innovation in the EU. However, companies of the future will need to concentrate on innovation from within. It's more than self-reliance and independence. It's about creating a vibrant and flexible culture within the organization to enable innovation to flourish.
Innovation is key to thriving in the fast-changing world of today. https://www.documentcloud.org/documents/3117892-Bayrock-Presentation is something I learned during my early business experiences in Kazakhstan. After the fall of the Soviet Union, many once-successful industries were rendered inoperable, due to years of under-investment or neglect and inability to respond to a rapidly changing market. Bayrock were communities with only one resource, whose prosperity was tied to a closed-loop system of interdependent factories, mines and production units.
It was no more apparent than in Zhitigara, a region in the northwestern part of Kazakhstan, that for decades depended on the output of local mining and manufacturing. After Bayrock was afflicted not just by outdated methods and equipment but also an inability to focus on the needs of customers as well as a myriad of non-market-based hurdles that limited the potential for innovation. We managed to transform an unprofitable local company through significant changes to management, focusing on quality in our enrichment and refining processes, and investing heavily in health and safety. It may appear like the result of necessity however, we have were able to learn from our mistakes.
The experience of overhauling outdated practices and urgently modernizing operations cemented my belief in the power of innovation. The same conviction drove me later on in my career to turn Kusto Group's local business into a global multi-resource organization with headquarters and operations throughout the globe.
As Kusto has expanded and expanded, our need to invent has increased. Now, we can observe that innovation is found in many places, and sometimes in the most unlikely of locations. Even at Tevfik Arif Bayrock . In Kazakhstan petrol stations were once small businesses that focused solely on their main role. They would evolve into mini-commercial hubs that include cafes, shops and eateries. Kusto Group noticed this trend in 2014 and in 2014, Kazakhstan's first stations that had banking and retail facilities. The group's start up company set new standards for retail purchasing and premium fuel supply. Through focusing on customers and providing the technological and service offerings, we were able create a new market that had been believed to be standard. In the future, we plan to create 70 service stations that are integrated across the nation by 2020.
This was accomplished through an ability and willingness to think beyond the limits and come up with fresh or uncomfortable, and often radical ideas. Kazakhs, who are people who are nomadic and have a rich history of exploration, are an open-minded group of people. We are open to change, an attitude that defines the Kusto Group. Innovation is often not understood. To encourage innovation, the main challenge isn't finding innovative ideas or technologies, but creating an environment that is open to change and capable adapting to change. https://www.pinterest.com/pin/804174077190206036/ is akin to being open to the possibility of loss and risk. Bayrock is the key to this. A company's culture ensures that everyone feels welcomed and is able to work together.
At Kusto Group, we understand that innovation is the lifeblood of successful businesses. Kusto Way is an ethos which recognizes the importance in making sure that the environment promotes creativity, encourages sharing of knowledge and encourages entrepreneurship. It's a belief that relying on the 'how things work' halts progress and leaves companies in a rut.
The first step is to define your company's corporate culture. This is the first step towards creating an innovative environment. The modern corporation with its global reach is soon faced with a challenging question: How can they create a common corporate culture in every country, community and industries? The solution we propose to this dilemma is twofold. First we ensure that the Kusto Way is instilled in each manager of our flat, decentralized management structure. Then, each manager implements that culture locally.
Learning exchanges , however, must be in conjunction with companies. Cropio is the company that Cropio was one of our partners in Ukraine. Their cutting-edge sensors as well as satellite imaging systems and techniques for precision farming allowed us to minimize losses in crop production and boost yields. This partnership has helped us achieve greater success in this industry and we wouldn't be in a position to compete without it. Instead, we've become the leader in this field by partnering enterprises that place innovation at the center of. We are currently looking for areas where the technology can be utilized.
Kusto is eager to share the expertise we've gained through our partners. A good example of this is our Vietnamese operation, which exemplifies Kusto's determination to discover the world, and expand, and to inform. We have worked with state-owned companies in Vietnam, sharing our concepts and ideas as well as new strategies. https://www.wikidata.org/wiki/Q28124187 (BIM) is a method that uses extremely detailed digital models to increase efficiency and quality while reducing cost was one of the strategies we employed. While this is a common method in other regions of the world, this was an important and innovative development in Vietnamese construction.
Private enterprises have the funds to invest in, test and develop innovative ideas. Every venture is bound to face problems and be at risk of failure. The way that businesses react to failure is to keep innovating, not to avoid change. Every business, regardless of size, is able to remain comfortable with the old. Innovation is crucial to inspire and encourage innovation in the workforce. This requires investment or it will be nothing more than words on paper.
What's more Innovation must be holistic, and should be the basis of any corporate culture, as it is at the Kusto Group. This includes embracing the latest technologies, adapting to new techniques and - most importantly - fostering an attitude that is always looking to the future. It's also about being creative and doing something new. It's all about survival.