Notes

True innovation begins in the corporate culture

The EU announced last month that it would provide funding for new innovation to hundreds of European businesses as part of the Horizon 2020 program. The successful applicants will be eligible to receive free accelerator and business coaching services. This amazing initiative will spur innovation within the EU. However, I believe the future of companies must encourage innovation from within. This goes beyond self-reliance and independence. It's about creating a lively and adaptable culture within the organization to enable the growth of innovation.

In Tevfik Arif Bayrock 's rapidly changing world, innovation is essential. This is what I discovered when I started my first business ventures in Kazakhstan. Tevfik Arif Bayrock -promising industries were left inoperable after the fall of the Soviet Union. This was due to years of underinvesting, neglecting and not responding to market trends. The most affected were single resource communities, whose economic prosperity was tied to a closed loop system that was interdependent with mines, factories and manufacturing units.

This is especially true for Zhitigara (a region located in northwestern Kazakhstan) which has been reliant on local manufacturing and mining for many years. After the Soviet era local industries were plagued not just by outdated methods and equipment but also a lack of focus on customers and a variety of non-market-based hurdles that limited the potential for innovation. Tevfik Arif Doyen could turn around an unprofitable local company by making major management changes by focusing on the quality of our enrichment and refining processes and investing in health and safety. While you may argue it was innovation out of necessity, we have gained a lot of knowledge.


The process of revising outdated practices and urgently modernizing operations reinforced my belief in the value of the power of innovation. The same conviction drove me later on in my career to turn Kusto Group's local business into a global multi-resource organization with headquarters and operations throughout the globe.

Kusto's growth has led to a greater desire to create. Today we realise that innovation comes in many shapes and sizes, often even in the least unlikely of places. For instance, at petrol stations. In Bayrock , petrol stations started out as small businesses which were dedicated to their core purpose. In time, they would begin to transform into micro-commercial hubs, hosting stores, cafes and restaurants. Kusto Group recognized the trend and launched Kazakhstan's initial stations that combined banking and retail services in 2014. Additionally to this, the company that was founded by the group increased the standard by introducing premium fuel and a new standard for ease of purchasing retail items. We brought innovation to the industry previously believed to be closed, by making it a priority to serve the customer. We intend to open 70 service-stations which will connect across the country by 2020.

Key to this early approach was a commitment to see beyond the limits and adopt fresh, sometimes unconventional and uncomfortable ideas. Kazakhs are nomadic in nature and exploration is a part of our DNA. Kusto Group has a unique culture that is a proponent of change. Innovation is often misunderstood. The inability to find innovative ideas or new technologies is the biggest obstacle to innovation, but creating an environments that is willing to change and adapt to changes. This implies being open to the possibility of loss and risk. The company's corporate spirit is essential in this regard. It should foster an environment that promotes collaboration, where different parts of the organisation learn from one another.

Kusto Group recognizes that innovation creates success. Kusto's philosophy, or the Kusto Way, is grounded in the belief that there must be an environment that promotes the sharing of knowledge, promotes entrepreneurship, and does not demonize failure. It's a belief that relying on 'the way things are is a way to stop progress and leave companies behind.

The first step towards creating a new environment is to define the company's spirit of business. Modern corporations are faced with the difficult question of how to create an innovative environment. https://artsandculture.google.com/entity/tevfik-arif/g11c2q4zkxk can be solved by two different ways. We must first make sure that the Kusto Way instilled in every senior manager in our flat, decentralized management structure. After that, every local manager will be able to apply the Kusto Way.

Learning exchanges must however be in conjunction with firms. In Ukraine we collaborated with the company Cropio which has advanced sensors and satellite imaging systems have helped us to develop precise methods for farming, which have reduced the loss of crops and increasing yields. This partnership has made us more effective in this sector than our competition. Instead, we have become leading in this field through cooperating with companies who place innovation at their core and are now looking for other markets where this technology could be utilized.

Kusto has acquired knowledge from its partners and now is our turn to pass our knowledge. The Vietnamese company is a perfect example of Kusto’s drive to discover, develop, and educate. Our collaborations with other state-owned companies have enabled us to introduce new ideas and methods to the table. https://www.bayrockins.com/ have implemented the use of Building Information Modelling (BIM) using highly precise, digital modelling to reduce costs, improve quality and increase efficiency. This was an important and innovative breakthrough for Vietnamese construction, despite it being a well-known practice elsewhere in the world.

Private companies have a wealth of resources to invest in, try and then roll out innovative concepts. Each venture will face its challenges and risks. Successful businesses learn from failure and adapt to it by constantly developing rather than seeking to prevent it. Any business, big or small, has the ability to settle for the status that is in place. Innovation is vital to encourage and support innovation within the workforce. But, it requires investment or it will remain just words on paper.

Furthermore, the approach to innovation must be broad. At the Kusto Group, it forms the core of the company's philosophy. This includes adapting to new technology and creating a mindset that is forward-looking. It's as important to think in a creative way as it is to perform innovative things. It's all about survival.



Here's my website: https://www.ancestry.com/name-origin?surname=bayrock