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November 2012 Edition   

Founder's Monthly Message

Rahmat Ushaksaraei

It was announced in October 2012 that International Monetary Fund (IMF) lowered its economical growth forecast for 2013.

In this regard, it was stressed by the
IMF's chief, Christine Lagarde, telling the reporters in Tokyo that Global economic growth forecast is being hampered down by uncertainty about whether the policymakers globally will deliver on policy commitments.

It was further mentioned by the chief of IMF that: "There is a level of uncertainty which is hampering decision makers from investing and from creating jobs."

This phrase is alluding to the fact that
the cause of slow global recovery is the degree of uncertainty caused by lack of confidence in many parts of the world.

Reading the above, it is extremely amazing to hear that despite all economical systems and governing bodies, theories and fundamentals, measures and debates, the global growth revolves around a simple human factor; Confidence!

Yet, as also mentioned by the IMF's Chief, the uncertainty is related to the inactions of key decision makers and governing bodies. In specific, according to 
Christine Lagarde: "We need action to lift the veil of uncertainty. Many of us have debated what actions are needed, many of us understand what needs to be done, but it actually needs to happen." 

International studies conducted in 1984 and continually thereafter have shown that when it comes to small and mid-size businesses, lack of centralized and comprehensive support by the local governments, is a common attribute.

When we narrow our focus and carefully examine the situation in Canada, despite the hypes on the surface, it is apparent that small and mid-size businesses are yet to be regarded
by both provincial and federal governments as the backbone of the economy and treated as such and their Innovative Ideas are taken seriously.

In specific, despite the high potentials among Canadian small and mid-size businesses in developing innovative products and solutions, other than the carefully selected group supported under limited and inadequate local, provincial and federal programmes, majority shoulders all ups and downs of the business on their own. As the result, they either break through, while financially bruised for a long time until experiencing profitability from their Innovations, or collapse, while striving to reach their goals and to materialize their Innovative Ideas.

So, until the governing bodies at least in Canada listen to the advice given by the chief of the IMF, change their approaches and truly support small and mid-size businesses, let's ensure that small and mid-size businesses are equipped with the related knowledge in realizing their dreams.

To achieve this goal, I would certainly hope that the contents of this article, which introduces a simple and practical solution in taking an Innovative Idea from Concept to Market, provide a slim opportunity in supporting small and mid-size businesses.

 
Sincerely,

Rahmat Ushaksaraei

t: 416 - 275 - 5543
e:
Rahmat.Ushaksaraei@accrete.ca
w: business support initiative


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Innovation, the key to continual business growth!

Business is a dynamic entity and therefore naturally it thrives on continually evolving inward and outward. Among many existing important factors, Innovation is the prime attribute in ensuring rejuvenation of a dynamic system, such as business. Often related to as Art, in reality, Innovation is a two part Art and Science phenomenon.

Although a widely used phrase in many areas including business, Innovation has always remained a vague and general term prone to self-interpretation. Yet, granted that Innovation has such high impact on growth of a business, understanding the science behind it, defining it fully in pragmatic and tangible terms and mapping
its inherent interactions step-by-step are logically essential. Specially, when it comes to small and mid-size business, the importance rises as more than often lack of a simple and logical step by step guideline for dealing with Innovation was expressed by the key decision makers as the bottleneck or even roadblock.

So, to simplify the process and perhaps equip ourselves with a useful tool, let's concentrate on one aspect of the Innovation in business, referred to as Innovative Idea, and see how a business needs to deal with it.

In doing so, let's narrow our focus on how to define and launch an Innovative Idea. As the first step and similar to any other elements of business, let's develop an umbrella for it. As discussed, treating a business as a living and breathing entity, mandates us to view it as Dynamic
entity. Also, during such process, we will be primarily dealing with defining the Requirement(s). Of course, Planning is everything in business and dealing with innovation and innovative ideas is not an exception. So, combined we need to focus on Dynamic Requirement Planning1 or DRP1 as a memory tag.

To add a little bit of practicality, let's break the DRP down into two segments of Macro and Micro Structures.

At a Macro Structure level, we would need to define three important milestones. In the order of importance and sequence, these defining points are:

- Voice Of the Customer (VOC)
- Concept
- Objective

Although may be self-explanatory:

- A clear understanding of the VOC, market in general or your niche market in specific, is the first step in embarking on a successful business journey. This is to include both Demands & Gaps of the market. In essence, aligning your thinking process with the market demand allows you to develop ideas, which benefit the market short term and understanding the gap, in turn, puts you one step ahead of the market in introducing products/services long term.
- Depending on the VOC, a set of concepts is needed to be brainstormed and outlined.
- The results from VOC and Concept are required to be narrowed down to at least one desired, practical and attainable Objective.

Pictorially:

Dynamic Requirement Planning (DRP) Macro Structure
Dynamic Requirement Planning (DRP)1 - Macro Structure

At the Micro Structure level, the goal is to pass through necessary steps that allow us to link the Concept to Objective. In the order of importance and sequence, these intermediate steps are:

- Preliminary Solution
- Solution Testing / Evaluation
- Solution Perfection
- Process Design / Evaluation
- Process Stability Control
- Continual Improvement (CI)

As a brief overview:

- Depending on the results of Concept step, a Preliminary Solution is required to be identified.
- Naturally, the validity of the proposed solution or idea, its suitability for target market and its feasibility are needed to be tested and evaluated.
- Results of testing and evaluation of the Preliminary Solution are required to lead us to finalizing the solution or idea. Therefore, the Solution Perfection step is an important element in bridging the original concepts and preliminary ideas into something tangible and attainable.
- In the Process Design / Evaluation step, all realistic pieces of puzzle in materializing an idea in relation to the market and business aspects are needed to be mapped out and their applicability to be evaluated. Furthermore, within the same exercise, all internal and external relations and interdependencies are required to be fully defined.
- Often confused with Process Capability, the Stability of a process deals with its inherent repeatability. In this step, Stability of the devised process must be ensured.
- Upon ensuring the completion of the previous step, the element of Continual Improvement (CI) is needed to be embedded in the overall journey. Once again, adapting CI ensures that we truly grasp and respect the element of Dynamism in a business.

If all above steps are adhered to, reaching the Objective is a breeze. Pictorially:

Dynamic Requirement Planning (DRP) Micro Structure
Dynamic Requirement Planning (DRP)1 - Micro Structure

Now, considering this very brief discussion:

- What is the number of Innovations or Innovative Ideas introduced in your business annually?
- If introduced in the past, traditionally, what has been the rate of success in materializing them?

If not doubt, contact me directly and let's have a business chat!

1- Dynamic Requirement Planning (DRP) methodology has been developed by Rahmat Ushaksaraei - All Rights Reserved.

About the author: Rahmat Ushaksaraei is an Accredited Associate of the Institute for Independent Business (IIB), Founder of GeBTL, Global executive Business & Trade Links, the only global top level executives' business platform, Founder of Bio Wood Pellet, representing the North American producers of the wood pellet in the global market, Founder and CEO of AEON Engineering Group Inc., President of the accrete, The Business Excellence Realization , an author, presenter, Professional Engineer (P.Eng.), Project Management Professional (PMP), renowned expert in Concept, Project, Process, Quality and Communication Management,  business executive and leadership coach to large corporations, business mentor and advisor to small and mid-size businesses, pioneer of Diamond Total Management (DTM)business excellence model and Human Intelligence Management (HIM)and Human Emotion Realization (HER)methodologies and architect of the valuator™ and evaluator™ business evaluation tools for small and mid-size businesses. Rahmat Ushaksaraei may be reached at: Rahmat.Ushaksaraei@accrete.ca Rahmat Ushaksaraei




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