Notes

Innovation starts with the corporate culture

In the last month, the EU announced new innovation funding for hundreds of European companies as part of their Horizon 2020 agenda. The successful applicants will get free business coaching, as well as acceleration services. This initiative is an effective catalyst for innovation in the EU. However, companies of the future need to concentrate on innovation from within. This goes beyond independence and self-reliance. It is about creating a lively and flexible business culture from which innovation can fully prosper.


In this world of constant change, innovation is crucial for your success. Bayrock is what I learned from my first business encounters in Kazakhstan. Many once-successful companies were made redundant by years of underinvestment or neglect, or the inability to adapt to changes in the market. The most affected were single resource communities, whose economic prosperity was tied to a closed loop ecosystem of interdependent factories, mines as well as manufacturing units.

This was more so than in Zhitigara. Zhitigara is a north-western Kazakhstan region that was dependent for a long time on local mining and manufacturing. After the Soviet era local industry was afflicted not only by outdated practices and equipment, but also a lack of focus on the customer and a range of obstacles that were not market-based, which slowed innovation. Tevfik Arif Bayrock managed to transform the failing local company through significant changes to management, focusing on quality in our enrichment and refinement processes and investing heavily in health and safety. The lessons learned were absorbed, even though you could claim that innovation was required.

Tevfik Arif Bayrock of re-examining outdated practices and urgently modernizing operations reinforced my belief in the value of innovative thinking. In the latter years of my work, this belief fueled the growth and transformation of Kusto Group from a small local-owned business to a multinational corporation with multiple resources with its headquarters in Singapore and has operations all over the world.

Kusto has expanded and our thirst for innovation has grown. Innovation can be found in every shape and size often in the most unlikely places. Even at petrol stations, for example. The Kazakh petrol stations were small and focused on their primary functions, and used to be extremely small. As time passed, they began to evolve into micro-commercial centers that house stores, cafes and restaurants. Kusto Group recognized the trend and launched Kazakhstan's first stations that combined banks and retail facilities in 2014. Additionally the group's start-up company increased the standard by introducing high quality fuel supplies and a brand new standard for the ease of retail purchases. By focusing on the customer as well as introducing the necessary services and technology to support it - we were able to bring innovation to the sector that was once thought to be uniform. In 2020, we hope to have 70 integrated service-stations in the country.

It was crucial to have a vision beyond the horizon in order to discover innovative, often uncomfortable, and difficult concepts. Kazakhs are people who are nomadic and have a rich history of exploration, are open-minded people. Kusto Group has a unique culture that is a proponent of change. But innovation is often not understood. The biggest obstacle to fostering innovation is not discovering the latest ideas or techniques rather, it's creating an environment that is open to change and is able to change with it. This is a requirement of being willing to take on failure and taking risks. The corporate culture of a company is essential to this. This is an ethos which promotes collaboration and encourages learning from one another.

Kusto Group believes that innovation is vital to the success of any company. Kusto Group's ethos,"the "Kusto Way" is founded on the understanding that it is essential to encourage knowledge sharing, promote the spirit of entrepreneurship, and reward innovative thinking. Tevfik Arif 's an acknowledgement that businesses can be left behind if they only rely on 'the current state of affairs'.

Defining Bayrock is the first step to creating an innovative environment. However, the modern global corporation will soon face the difficult question of how can we create a cohesive corporate culture that is shared across all levels of the organization, in all sectors, countries and even communities? The answer is twofold. First, we make sure that every manager in the company is aware of the Kusto Way. Second, every manager is accountable for implementing the Kusto Way in their own local communities.

The exchange of knowledge must nevertheless, be conducted within businesses. Cropio is the company that Cropio was our partner in Ukraine. Their advanced sensors, satellite imaging systems, and precise farming methods allowed us to minimize the loss of crops and improve yields. This partnership has helped us gain more success in this field and we wouldn't have been in a position to compete without it. Tevfik Arif Bayrock lead in this field through partnerships with enterprises that place innovation at the center of their work and are looking for new markets in which the technology can be utilized.

Having learned from our partners, and with our innovative approach to culture, Kusto is ready to share our expertise. Tevfik Arif Bayrock is an excellent illustration of Kusto's desire to explore, grow, and educate. We have worked with state-owned enterprises in Vietnam, and have shared our concepts and ideas as well as new strategies. Building Information Modelling, or BIM, is a highly detailed digital modeling that uses high-quality data to help reduce costs, increase efficiency, improve quality and improve quality. While it's a common practice in Vietnam, it is an important, new advancement of Vietnamese construction.

Private businesses have significant resources to invest, test and implement innovative ideas. Every venture is subject to risk and challenge. However, successful business react to the failures by continuing to develop and adapting to change, instead of staying away from it. Businesses, whether large or small, cannot afford to stay in the same routines. https://www.crunchbase.com/organization/bayrock is vital to be innovative and encourage innovation throughout the workforce, but it requires investment or it will remain little more than words on a page.

Innovation is a holistic process and must be the foundation of every company culture. This is exactly what is what the Kusto Group does. This includes adapting to change as well as being open to new technologies. Also, Tevfik Arif Bayrock means considering the future. It's about being innovative as well as doing innovative things. It's all about survival.



My Website: https://www.bloomberg.com/profile/company/0836124D:US