Dominic Swords, co-chair of judges for the National Business Awards in partnership with Orange and economist at the Henley Business School, said that it is getting more and more competitive to find new markets or to improve profitability.
Businesses have recognised this, and as such they are hoping to unearth as many possibilities as they can in order to create new ideas.
"A lot of that is about engaging effectively with their workforce, and really energising people, engaging them with thinking about what they can do, how they can do things better, what opportunities there are, what their customers want – those kind of things," Mr Swords explained.
He added that employees who do come up with good ideas need to be recognised and rewarded for their input, however.
This is not even necessarily financial rewards, but often internal recognition by their peers for their contribution.
"Noticing what people are doing and giving them due regard and acknowledgement for what they are doing is actually a very motivating thing for people, and something that gives them the willingness to commit themselves to the organisation," he concluded.
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Posted by John Oak and Wayne Bly
Source: The Sales Director News