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5 Ways to Improving Business Competitiveness

By Isny Dewi R

21 Mar 2019

Five ways to improving competitiveness in business.

The increasingly rapid technological development makes many businesses now switch to using engine power, so that the production costs can be cheaper. For example, in terms of work resilience, machine can work 24 hours nonstop. Whereas humans need time to rest. Of course, it requires a lot of money to get that machine and takes time to raise that money. But, don't be discouraged! Here are five ways to improving competitiveness in the midst of intense business competition as technology develops, reported by

1. Learning with Data
In this technological era, data is the key to winning competition. Many companies use statistical data as a comparison, especially in terms of overall performance. Data like this can also be used to observe careers that are in demand. Expertise in reading data can bring a career advantage. You can try in data processing career with a fairly high salary. For that, start familiarizing yourself with the data for the business or career growth.

2. Search for Strength in the New Segment
If you have succeeded in one segment, you can expand into new segment to reap greater business profits. For example, if you successfully open a simple coffee shop, you can explore other businesses such as motorbike repair shop. Keep these businesses mutually supportive and close together, to make it easier for you to manage your business at the same time. Try to keep the new business segment you are in outside your comfort zone, so you want to continue learning to grow your business.

3. Sharpening Your Leadership Soul
Leadership structures that were popular in the 90s are no longer valid in this digital era. For that, you need to learn new things in order to hone the leadership spirit, such as attending seminars, training, and business organizations. Give maximum contribution to all activities you are followed. Being a leader is not about good in managing, but also good in making important decisions for business growth. If robots can make intelligent decisions, why don't you?

4. Prioritizing Consumer Needs
Technology is an enemy that can threaten human success in the future. However, technology also can bring many benefits if you are able to use it well. In business world, for example, if you open a cafe business that provides Wi-Fi, then consumers are willing to linger in your cafe. If consumer needs are not met or consumers feel unsatisfied, they will choose to hang out in other cafes. Use social media to continue to maintain good relations with your consumers.

5. Rise from the Past
You may experience a failure in the past. However, don't let that failure haunt your business's future. Precisely from that failure, you can make it as learning material. There are still many opportunities for success. So, focus on progress in the present and future days.