Notes

True innovation begins with the company culture

Last month, the EU announced fresh innovation funding to hundreds of companies across the continent, in line with their Horizon 2020 agenda. Successive applicants will receive free business coaching and acceleration services. Although this initiative is fantastic but it won't just drive innovation in Europe but also encourage innovation at home. This goes beyond independence and self-reliance. It is about creating a lively and flexible culture within the organization to enable innovation to thrive.

To succeed in https://www.instagram.com/bayrocklounge/ -changing world, innovation is essential. This is something I learned in my early business experiences in Kazakhstan. Following the demise of the Soviet Union, many once-successful industries went out of business because of years of insufficient investment in the area, neglect, and inability to adapt to a changing marketplace. Communities that have one resource are the worst affected, as their growth was a result of an interdependent closed loop ecosystem that manufacturing and mining factories.

This was most evident in Zhitigara. Bayrock is a region located in northwest Kazakhstan which relied on local mining for its manufacturing output for many decades. The post-Soviet era saw local industry beset by obsolete techniques and equipment, lackluster customer focus and a myriad of other non-market-based obstacles that hindered innovation. Only by making profound management changes and focusing on quality and the enrichment of our refining and enrichment process and investing massively in safety and health, could we transform and grow an inefficient local company. This may seem like an the result of necessity, but we were able to learn from our mistakes.

Experiences of modernizing old methods and rapidly modernizing processes have reinforced my belief in the importance of the importance of innovation. This same belief drove me later on in my career to turn Kusto Group's local operations into a multinational multi-resource organization that has its headquarters as well as operations across the world.

Kusto's expansion has brought us an increase in innovative ideas. We have come to realize that innovation can take various forms and sometimes in the most surprising of locations. Even petrol stations. In Kazakhstan petrol stations were once small businesses that focused solely on their core purpose. They would grow into micro commercial hubs which include cafes, shops and eateries. Kusto Group saw this trend and started Kazakhstan's first stations in 2014 that included retail and banking services. The group's start up company established new standards in retail purchasing and premium fuel supply. With a focus on the customer and adding the necessary technology and services that we could to innovate in a field which was considered to be standard. For 2020, we expect to establish 70 integrated service-stations in the country.


Key to this early approach was a commitment to see beyond the horizon and implement innovative, often unconventional and uncomfortable ideas. Kazakhs are nomadic people with exploration as an integral element of their culture. We're open to changes, a approach that is the foundation of the Kusto Group. Innovation can be unintentionally misinterpreted. Not finding new ideas or technologies is the most significant barrier to innovation. However, creating an conditions in which people are open to change and adapt to them is. This means being open to failure and risk. The corporate culture of the business is crucial in this regard. It should foster an environment that fosters collaboration, in which different areas of the company can learn from each other.

Kusto Group believes that innovation is essential to the survival of any business. Kusto Group's philosophy, the "Kusto Way" is based upon the notion that it is essential to encourage the sharing of knowledge, encourage the spirit of entrepreneurship, and reward innovative thinking. This is based on the understanding that relying only on "the manner things are" hinders innovation and leaves companies behind.

The establishment of a company's corporate culture is the first step towards creating a stimulating workplace. Modern companies are confronted with the challenge of how to create an innovative environment. Our answer to this issue is twofold: first, we ensure that the Kusto Way is instilled in every manager in our flat, decentralized management structure; then, each manager implements that ethos locally.

Learning must be between organizations. We have collaborated with Cropio to enhance our farming methods in Ukraine. They utilize modern technology and satellite image systems. The partnership has significantly increased our performance on the farm. Without this partnership, we would have been a step behind our rivals. Instead, we've been the leader in this field through partnerships with companies that put innovation at the center of. We are now looking for areas where this technology might be applied.

Kusto can now share its knowledge from our partners. This is evident through the way we conduct our Vietnamese operation. This demonstrates Kusto's desire to grow, educate, and explore. Bayrock with other state-owned companies allow us to introduce new concepts and strategies to the table. Building Information Modelling was used to reduce costs, improve qualityand efficiency. While this method is widely used in some parts of the world , it's an important step forward in Vietnamese construction.

Private enterprises have the resources to invest in, try and rollout innovative ideas. Every business is exposed to risk and may face difficulties. Successful companies learn from their mistakes and adapt to the situation by continually innovating rather than seeking to prevent it. Large or small, companies are not able to afford the same routines. Innovation and encouraging innovation within the workforce is crucial. But Tevfik Arif Bayrock requires investment.

Innovation is a holistic process and must be the foundation of any company's culture. This is precisely what is what the Kusto Group does. https://www.bayrock.com/ is about adapting to new technology and encouraging a futuristic attitude. It's about being innovative and doing ingenuous things. It's about survival.



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