{"id":43620,"date":"2017-01-12T16:21:00","date_gmt":"2017-01-12T21:21:00","guid":{"rendered":"https:\/\/groupeagf.com\/en\/the-network\/uncategorized\/innovation-as-a-tool-for-growth"},"modified":"2024-05-07T15:26:20","modified_gmt":"2024-05-07T19:26:20","slug":"innovation-as-a-tool-for-growth","status":"publish","type":"post","link":"https:\/\/groupeagf.com\/en\/the-network\/general-interest\/innovation-as-a-tool-for-growth","title":{"rendered":"Innovation as a tool for growth"},"content":{"rendered":"
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\"\"We all know how important it is for companies to develop new products or services that will increase their sales and to introduce these products and services into new markets.<\/p>\n

Steve Jobs revolutionized the computer industry with the launch of Apple, followed by the Mac, as well as the iPhone and iPad. The characteristics and operating simplicity of these computers were disruptive for long-established industry giants such as IBM and compelled them to review their business models. Apple’s impact was so powerful that IBM was forced to sell its computer division to a Chinese company, LENOVO.  David triumphed over Goliath.<\/p>\n

McDonald’s founder Ray Kroc revolutionized the standardized production of hamburgers and created a universally recognized giant by continually making innovations to his products and service. And yet the hamburger industry had existed forever, with thousands of small restaurants. <\/p>\n

In 1983, Starbucks had just four cafés. Howard Schultz, the company’s marketing director at the time, purchased the company in 1987 and developed a new concept based on higher-quality coffee. Over time, he continued to introduce innovations, which let him to modify his business model. He was one of the first to make wi-fi available to customers at every Starbucks outlet.<\/p>\n

These few examples clearly demonstrate why a company must be continually reinventing itself: to hold on to its market, expand it and keep from disappearing.<\/p>\n

Kodak, a giant in camera manufacturer, failed to make the shift to digital and has disappeared from the radars.<\/p>\n

Blackberry, inventor of the smart phone, was outclassed in his industry and practically vanished from sight in just a few years. All because of its failure to innovate, adapt to evolving technologies in markets and its lack of understanding of customer expectations.<\/p>\n

AGF has existed since 1948. It has introduced innovations at various points in its history, either by developing its technical expertise to carry out projects or by making inroads into new markets, primarily through the acquisition of similar companies. Today, AGF employs more than 3,000 people in 45 business units around the world.<\/p>\n

\"\"It is recognized that the construction industry is not evolving as quickly as other sectors such as telecommunications and electronics. Still, we have seen the emergence in recent years of new competitors in the market, which are exerting significant pressure on prices and, consequently, on profitability. We are also seeing changes in construction methods. For instance, prefabricated concrete is being increasingly used for prefabricated modules manufactured in the plant and then assembled on site to build 40-, 60-, or even 100-storey buildings (increasingly popular in China).<\/p>\n

To remain a leader in its industry, AGF must continue to innovate.<\/p>\n

My task is to establish a culture of innovation at AGF. This is a challenge facing any company that is accustomed to success, especially in a traditional industry such as construction.<\/p>\n

Here are seven answers to the question, “Why innovate?”:<\/p>\n