Innovation is needed in Bulawayo
An innovative business
According to the oxford dictionary, to innovate is to bring something new. So, when a company is innovative, it means it is bringing something that has never been seen before in the market. According to raconteur, “business innovation is when an organisation introduces new processes, services, or products to affect positive change in their business, it can include improving existing methods or practices, or starting from scratch.”
In the 21st century we are looking at companies bringing new ideas to make life easier. We have cell phones that connect us to the internet and the internet has made our communication way easier and cheaper. Although in Zimbabwe it is a different story, it is said that Zimbabwe is 15 or more years behind when it comes to infrastructure, development and technology. One thing that has made the country to be mostly stagnant with being innovative is the economy. As we speak the Zimbabwean inflation rate is more than 200%. Companies have not been doing much to keep up with the world market change but instead they have been trying to survive the Zimbabwean economy.
The Matabeleland region has been the badly hit region in the country. With Bulawayo changing from the industrial hub to a cultural and heritage city only. Most of the industrial companies shut down for good and some moved to Harare. The industrial buildings in the city are either dilapidated or churches. Bulawayo needs innovative businesses that are going to change the dynamic of the city. Since the city is now a cultural and heritage hub, companies should try implementing that in an innovative way to their business. The marketing departments of companies can run with cultural and heritage status of the city to boost business and also help pull investment to the city. This would join together the industrial hub status and the cultural heritage status.
There are ways that companies in the city can be innovative. Companies in the city need to think in other terms in getting ahead of potential disruption. As the economy of the country is always going downhill, companies need to figure out how they can be cushioned. For example, during COVID 19, no country was ever prepared for the world lock down which disrupted business, now the world is prepared for such events so should Bulawayo companies be when it comes to the economy. The company must increase efficiency. This is when the business processes less costly, less time-consuming to complete, and more sustainable. Companies need to attract talent so that they push their brands to higher levels.