The need for Innovation and GDD’s initiatives.

Innovation is the change that unlocks new value. It challenges conventional notions, breaks stereotypes, and brings out a fresh new perspective. The fresh thinking results in problem-solving and greater efficiency.

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To survive –

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1. Increasing competition

There is exponentially increasing competition in all industries and every business works hard to create a niche for themselves. One way to deal with competition is to mimic and follow and the other way is to bring new ideas and conquer the market. To make a place in consumer’s hearts and homes your product/service should be innovative and original.

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2. Increasing Consumer Expectations

‍Thanks to globalization, today’s consumer is well informed and has access to various options. Their expectations are high and their requirements change frequently.

You cannot meet customer expectations on a long-term basis if you are not innovating. You have to predict changes in the market and upcoming market trends, and create solutions before even your consumer realize that they need them.

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3. Increasing Globalization

The world has become a global hub and businesses around the world have global access. Be it an individual or a small enterprise or an MNC, the internet connects suppliers, designers, makers and consumers in a close-knit network which is growing every day. For example, a company like Xiaomi has spread its market beyond China just within 5 years of their inception and has become the no.1 smartphone brand in India.

The changing global market is an opportunity for you to survive even if you don’t have access to consumers in the 500km radius.

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To thrive –

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1. Business Growth

In this creative industrial age, constant innovation and accelerating change is the key to success. Innovation brings newness which is pivotal for growth. Regardless of the size of the business, pioneering ideas form the backbone of growth for any brand. Growing business with inventive ideologies is what brands need to focus on.

You can be a start-up and have ingenious and creative ideas that can help grow your business. The same holds true for a fortune 500 company. It might be a huge corporation, but it can take even more of the market share if it manages to innovate. It’s easy for innovative companies to grow.

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2. Advancing Technology

New technology is becoming cheaper and is now easily available to people. Using the latest technologies in creative ways and developing new technologies through innovation will be essential to meet industry challenges.

If a company is not using technology to the fullest and its competitors are, the organization is limiting its lifespan.

It needs a high degree of prepping to bring forth technology that hasn’t even been imagined and strategy to leverage it to an advantage. All this can be done when your team works in tandem and rely majorly on innovation.

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3. Changing Work Culture

The workforce is becoming more social and mobile. The use of social media technologies is a huge part of today’s business culture. An increasing number of tools are available to facilitate learning, communication and collaboration. Young workers and consumers are accomplished with these tools and are expected to use them as well. A major challenge is to employ and engage these groups of professionals. But the payoff will be significant for employers who get the knack of how to do it successfully.

Companies who can attract, connect, and maintain diversity can influence their workforce for a great exchange of thoughts and ideas. This, in turn, leads to effective business models and higher employee engagement.

At GDD, we understand the value of innovation. It is our endeavour to make products that add value and suit the changing customer needs. The team takes risks and we encourage our clients to go beyond the standard roadmap and create products that balance simplicity and innovation. Our capabilities in design thinking and strategic product design not only supports client’s ideas but takes it to the next level so that we ideate and generate fresh thoughts.

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Over the past few years, we have delved into various business genres like logistics, education, healthcare and most recently on insurance. This was a recent project where we collaborated remotely with teams sitting across geographies and designed a mobile app to disrupt the insurance industry with user experience design and newer technologies like augmented reality, AI, and machine learning. We also looked into aspects like how insurance services in India are consumed in a very traditional way depending on brokers and agents. Users are mostly dependent on insurance company representatives or agents/brokers behaviour towards claim processes. We reimagined the scenario and created an experience revolving around new technologies using concepts of chatbots, quick auto-claims using drone, AI based fraud management etc.

This is just one example of how GDD aligned originality with the latest technology. Our new way of collaboration with experts across the globe and understanding consumer expectations has given positive results. We are constantly working to innovate for our clients and help them grow their business manifolds to survive & thrive in these changing times.

GDD is a product design studio that specialises in Strategy & Branding, Industrial Design and Experience Design (UX/UI).
www.gdd.design

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