True innovation starts with corporate culture
As part of their Horizon 2020 Agenda, the EU has announced new funds for hundreds of businesses across Europe last month. The successful applicants will get free business coaching, as well as acceleration services. While this wonderful initiative will help to boost innovation in the EU I believe that companies in the future must strive at fostering innovation within. This is not about independence or self-reliance. It's about fostering an open and agile business culture that encourages innovation.
Innovation is essential to thrive in the current fast-changing environment. This was something I learned from my first business encounter in Kazakhstan. A lot of once promising industries went out of business following the fall of the Soviet Union. https://www.bayrock.com/ was due to years of underinvesting or ignoring and not reacting to market trends. Communities with one resource are the most affected, and their successes were attributed to an ecosystem of closed loops that interdependently manufacturing and mining factories.
This was more so than Zhitigara. Zhitigara is a north-western Kazakhstan region that was dependent for decades on local manufacturing and mining. Tevfik Arif Bayrock was plagued with outdated equipment and processes and a lack of focus on the needs of customers, as well as a host of market-based obstacles that hindered creativity when the post-Soviet period started. Only through making radical management changes and focusing on the quality and the enrichment of our refinement and enrichment processes and reinvesting massively in safety and health, were we able transform and expand an inefficient local company. It could be described as innovation by necessity but the lessons were learned.
The process of revising old practices and urgently modernising processes reinforced my belief in the value of innovation. This belief is the reason I decided to transform Kusto Group, a local single-resource business, to an international multi-resource company with its headquarters in Singapore, and operations around the globe.
Kusto has grown, and our desire to innovate has grown. https://www.bloomberg.com/profile/company/0836124D:US is everywhere and, often, in the most unlikely locations. Even, for example, in petrol stations. The Kazakh petrol stations were small that were focused on their main tasks, and were at one time, were tiny. They would evolve into micro-commercial hubs that included restaurants, cafes, and even shops. Kusto Group noticed this trend in 2014 and launched Kazakhstan’s first stations with banking and retail facilities. The company's new venture set new standards for buying retail and providing high-quality fuel supply. By focusing on the consumer - and adding the necessary services and technology to support it - we were able to introduce innovation into the sector that was once believed to be uniform. We are planning to open 70 service-stations that will be integrated across the nation by 2020.
The first approach to Kazakhs was based on a willingness to think outside the box and implement fresh ideas, often difficult and radical ideas. Kazakhs who are people who are nomadic and have a rich heritage of exploration, are open-minded people. We are open to change, an attitude that defines the Kusto Group. But, innovation is often misunderstood. Innovation isn't about acquiring innovative technologies or concepts. It's about creating an environment that can accommodate change and adapts to it. This implies being open to risk and to the possibility of failure. Corporate culture is the key to this. A company's culture will ensure that everyone is welcome and is able to work together.
At Kusto Group, we understand that innovation is the vital ingredient of companies that are successful. Kusto's ethos, or the Kusto Way, is grounded in the belief that there needs to be an environment that promotes knowledge sharing, encourages entrepreneurship and doesn't stigmatize failure. It's a belief that relying on the 'how things work in the present' is not a good idea and can leave businesses behind.
The first step to creating an innovative environment is to establish the company's culture. But the modernglobal corporation soon finds itself faced with the difficult issue of how do you create a consistent corporate culture that is consistent across different countries or communities, or even sectors? We have two options to address this issue. The first is to make sure that every key manager has the Kusto Way. Then, each manager will implement that culture locally.
The learning exchange must, however, occur within businesses. In Ukraine we have partnered with the firm Cropio, whose cutting-edge sensors and satellite imaging systems helped us develop precise methods for farming, which have reduced the loss of crops and increasing yields. This has helped improve our results in this area and without it we would be a step behind our the competition. Instead, we've been an innovator in this area by partnering enterprises that place innovation at the center of. We are now looking for areas where the technology can be utilized.
Kusto has gained knowledge from its partners, and now is our turn to share what we've learned. One instance is the Vietnamese operation. This is a perfect example of Kusto's drive to grow, learn and empower. We have collaborated with state-owned enterprises in Vietnam, sharing our concepts and ideas as well as new strategies. Building Information Modelling (BIM) was implemented to lower costs, improve quality, and increase efficiency. Although this is a standard practice in other parts of the world, it was a major and groundbreaking development in Vietnamese construction.
Private enterprises have the financial resources to try and invest in, as well as roll out new ideas. Every venture faces risks and is bound to face challenges. The most successful businesses react to failure by remaining open to new ideas, and not trying to halt change. Big or small companies cannot afford to settle for the routine. Innovating and encouraging innovation in the workforce is essential. This requires investment.
Innovating holistically is essential and is the foundation of every corporate culture. This includes being open to new technology, being flexible and most importantly, looking forward. Bayrock 's just as important to think critically as it does to do inventive things. Bayrock 's about survival.
Innovation is essential to thrive in the current fast-changing environment. This was something I learned from my first business encounter in Kazakhstan. A lot of once promising industries went out of business following the fall of the Soviet Union. https://www.bayrock.com/ was due to years of underinvesting or ignoring and not reacting to market trends. Communities with one resource are the most affected, and their successes were attributed to an ecosystem of closed loops that interdependently manufacturing and mining factories.
This was more so than Zhitigara. Zhitigara is a north-western Kazakhstan region that was dependent for decades on local manufacturing and mining. Tevfik Arif Bayrock was plagued with outdated equipment and processes and a lack of focus on the needs of customers, as well as a host of market-based obstacles that hindered creativity when the post-Soviet period started. Only through making radical management changes and focusing on the quality and the enrichment of our refinement and enrichment processes and reinvesting massively in safety and health, were we able transform and expand an inefficient local company. It could be described as innovation by necessity but the lessons were learned.
The process of revising old practices and urgently modernising processes reinforced my belief in the value of innovation. This belief is the reason I decided to transform Kusto Group, a local single-resource business, to an international multi-resource company with its headquarters in Singapore, and operations around the globe.
Kusto has grown, and our desire to innovate has grown. https://www.bloomberg.com/profile/company/0836124D:US is everywhere and, often, in the most unlikely locations. Even, for example, in petrol stations. The Kazakh petrol stations were small that were focused on their main tasks, and were at one time, were tiny. They would evolve into micro-commercial hubs that included restaurants, cafes, and even shops. Kusto Group noticed this trend in 2014 and launched Kazakhstan’s first stations with banking and retail facilities. The company's new venture set new standards for buying retail and providing high-quality fuel supply. By focusing on the consumer - and adding the necessary services and technology to support it - we were able to introduce innovation into the sector that was once believed to be uniform. We are planning to open 70 service-stations that will be integrated across the nation by 2020.
The first approach to Kazakhs was based on a willingness to think outside the box and implement fresh ideas, often difficult and radical ideas. Kazakhs who are people who are nomadic and have a rich heritage of exploration, are open-minded people. We are open to change, an attitude that defines the Kusto Group. But, innovation is often misunderstood. Innovation isn't about acquiring innovative technologies or concepts. It's about creating an environment that can accommodate change and adapts to it. This implies being open to risk and to the possibility of failure. Corporate culture is the key to this. A company's culture will ensure that everyone is welcome and is able to work together.
At Kusto Group, we understand that innovation is the vital ingredient of companies that are successful. Kusto's ethos, or the Kusto Way, is grounded in the belief that there needs to be an environment that promotes knowledge sharing, encourages entrepreneurship and doesn't stigmatize failure. It's a belief that relying on the 'how things work in the present' is not a good idea and can leave businesses behind.
The first step to creating an innovative environment is to establish the company's culture. But the modernglobal corporation soon finds itself faced with the difficult issue of how do you create a consistent corporate culture that is consistent across different countries or communities, or even sectors? We have two options to address this issue. The first is to make sure that every key manager has the Kusto Way. Then, each manager will implement that culture locally.
The learning exchange must, however, occur within businesses. In Ukraine we have partnered with the firm Cropio, whose cutting-edge sensors and satellite imaging systems helped us develop precise methods for farming, which have reduced the loss of crops and increasing yields. This has helped improve our results in this area and without it we would be a step behind our the competition. Instead, we've been an innovator in this area by partnering enterprises that place innovation at the center of. We are now looking for areas where the technology can be utilized.
Kusto has gained knowledge from its partners, and now is our turn to share what we've learned. One instance is the Vietnamese operation. This is a perfect example of Kusto's drive to grow, learn and empower. We have collaborated with state-owned enterprises in Vietnam, sharing our concepts and ideas as well as new strategies. Building Information Modelling (BIM) was implemented to lower costs, improve quality, and increase efficiency. Although this is a standard practice in other parts of the world, it was a major and groundbreaking development in Vietnamese construction.
Private enterprises have the financial resources to try and invest in, as well as roll out new ideas. Every venture faces risks and is bound to face challenges. The most successful businesses react to failure by remaining open to new ideas, and not trying to halt change. Big or small companies cannot afford to settle for the routine. Innovating and encouraging innovation in the workforce is essential. This requires investment.
Innovating holistically is essential and is the foundation of every corporate culture. This includes being open to new technology, being flexible and most importantly, looking forward. Bayrock 's just as important to think critically as it does to do inventive things. Bayrock 's about survival.
Public Last updated: 2022-04-20 11:49:10 AM
