Victor Edozien of Asaba Group Holdings: Innovative Solutions in Management

1. A business, like a growing child, exists in a complex environment composed of tangible and intangible forces that affect its health and growth. For instance, the type and age of machinery or equipment that a manufacturing company uses for its production will determine its efficiency and profitability. Unless it updates its machines and tools, it will suffer greatly from slow production due to breakdowns as well as unprofitability due to high maintenance costs.

2. As the adjective suggests, innovative management has to do with business management that deals with the expected changes in the far and near future that will have a significant impact on the conduct of the business as well as the needs and values of customers and society at-large. The word further connotes arriving at novel strategies and management systems that will help managers to address problems.

3. What then is innovative management, in general?

4. Innovative management has come of age in recent decades as a result of shifting customer needs and the overall business environment brought about by technological advancement and also policy changes in the global community. Whether we like it or not, every venture, great or small, has to deal with the aforementioned developments in order to survive.

5. Tips on Innovative Solutions in Management

6. There is no purpose or motivation more important than that which involves satisfying your customers. It was back in the '80s when TV ad-makers discovered the value of touching people's lives using emotionally-charged commercials. Today, it is a commonplace practice for companies to highlight the emotional impact that products have on the individual and the family. Think of Oreo and the father and his son bonding together over a glass of milk and that chocolate cookie. Moreover, companies now reach out to the customer in order to genuinely interact with their customers. CEOs are seen on ads and even in the malls pitching for the company and its product. Interactive is synonymous to innovative! Whether it is the president or the front-desk employee having an encounter with the costumers, how it is done will either make a good or bad impression on the buying public.

7. Innovating in favor of the customer