Medium: 4 Strategies for Creating a Culture of Innovation

logo for MediumMedium featured an article by John Squire, CEO and Co-Founder of Digital Commerce Startup of the Year winner DynamicAction, to get the conversation started with insights and experience from building a startup and working with retailers who are getting it right.

Key excerpts include:

“If technology is clearly part of a business imperative and is endorsed fully by the executive team, the entire organization will adopt the philosophy in order to reach a higher level of operation. The rising value of advanced retail analytics systems, not just workflow accelerating software, is requiring executives to rethink how their own management paradigms will need to change to lead a blend of human-driven and machine-driven decisions.”

“Many of the skills fostered by retail organizations will continue to be relevant, while new highly valued skills will certainly be introduced. The digitization of retail has created precise data about every product, every SKU, every customer and every touchpoint across all channels. As a result, the amount of information has exploded exponentially, allowing retailers to get a deeper and more accurate picture of their business immediately. Innovative companies will need to invest in technology to improve the decision and service capability of their people at a rate far faster than their global competitors.

While the term “innovation” may hold an entirely different meaning to a pure ecommerce player than a multichannel retailer, one thing remains true: A nimble leadership and culture, as well as an employee base empowered by technology, are the vital elements to embarking on a journey not only toward innovation, but securing a successful (and profitable) future.”

Read the full article here.

Learn how DynamicAction can improve your retail profit by optimizing every part of your business. Ready for details? Book a demo, or download our comparison brochure.

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