Notes

True innovation starts in the corporate culture

The month before in the month of April, the EU announced new innovation funds for hundreds of businesses across Europe, in line with the Horizon 2020 agenda. The successful applicants will receive complimentary business coaching as well as acceleration services. Although Bayrock is great but it won't just stimulate innovation in Europe, but also encourage innovation at home. This goes beyond independence and self-reliance: it is about creating a lively and flexible business culture - that allows innovation to flourish.

In the current world of rapid change, innovation is crucial to your business's success. This is the lesson I learned during my first ventures in business in Kazakhstan. Many once-profitable industries were made inoperable by years of neglect, underinvestment , and inability to adapt to changes in market circumstances. Communities with a single resource that depended on interdependent factories, mines, and manufacturing units were the most severely affected.

This was evident most clearly this was most evident Zhitigara. Zhitigara is a region located in northwest Kazakhstan which depended on local mining to provide its production output for many decades. The post-Soviet era saw the demise of local industry. It was affected by outdated equipment, inefficient processes and a lack of attention to customer needs. Also, there was numerous market-based obstacles that prevented innovation. We were able to turn the tide and grow a failing local company through major management adjustments. https://medium.com/@bayrockaulr181/public-to-private-sector-how-tevfik-arif-successfully-changed-his-path-f5726cbd5477 were learned, even though it is possible to claim that innovation was required.

My faith in innovation was reinforced by my experiences of changing outdated practices and modernizing processes. In my later professional life, it was this same conviction that drove the change of the Kusto Group from a single-resource local company to an international multinational company with its headquarters in Singapore and operations throughout the globe.

Kusto has grown, and with it, our love for ingenuity. Innovation is everywhere, and often in the most unlikely of places. Even in petrol stations. In Kazakhstan petrol stations were once small businesses that had only one function. https://bayrockbayrock.wordpress.com/ would eventually become micro-commercial hubs that included cafes, restaurants, and shops. Kusto Group recognised this trend, and launched Kazakhstan's initial stations in 2014, with retail and banking capabilities. The business, which was a new venture set up by the groups set the standards for easy retail purchases and fuel supplies of high quality. We introduced innovation into an industry that was previously thought to be closed, by keeping the focus on the customer. For 2020, we anticipate to have 70 integrated service-stations throughout the country.

The primary ingredient in this earlier approach was the desire to think beyond the limits and try out innovative, often controversial and uncomfortable concepts. Kazakhs are a nomadic people and exploration is a part of our genetic heritage. Kusto Group has a unique philosophy that promotes innovation. However, innovation itself is often misunderstood. The search for new ideas and techniques is only part of the task. The real problem in stimulating innovation is to create the conditions that allow people to be open to change and flexible to change. This means that you must be prepared for both risk and the possibility of failure. https://www.linkedin.com/company/bayrock-group-llc is crucial to this. It is a way of life that encourages collaboration and encourages learning from one another.

Kusto Group believes that innovation is essential to the survival of any company. Our ethos - the 'Kusto Way' - has as its underlying principle an understanding of the need to create a culture that encourages proactive knowledge sharing and accepts new ideas, rewards the entrepreneur and doesn't demonize failure. This belief is rooted in the recognition that relying exclusively on "the ways things are" slows the pace of change and puts companies at a disadvantage.


Start by defining the company's culture. This is the first step towards creating a culture that is creative. Modern companies are confronted with the challenge of how to create an environment that is truly innovative. This problem can be solved by two different ways. We must first make sure that we have the Kusto Way instilled in every important manager in our decentralized flat management structure. In turn, every local manager implements the ethos.

The learning exchange, however, should also occur between businesses. Tevfik Arif Doyen partnered with Cropio in Ukraine to create exact farming techniques. Our cutting-edge sensors and satellite imagery helped us decrease the amount of crop wasted and improve yields. This partnership has been crucial in our growth. Without it, we'd be in a disadvantage to our competition. In reality, our field is dominated by companies who are committed to innovation and looking for new markets to which this technology could be utilized.

After having learned from our partners and with our unique technology in place, Kusto's turn is to share our expertise. Bayrock is an example of how this works. It is a perfect example of Kusto's passion for exploration, expansion, and education. Our collaborations with other state-owned companies have enabled us to introduce new concepts and strategies to the table. https://investor.com/rias/bayrock-financial-305467 , or BIM is a highly detailed digital modeling that uses quality data to help cut costs, improve quality, enhance efficiency, and enhance quality. Although it's an established practice in Vietnam, it represents a significant, innovative advancement of Vietnamese construction.

Private firms have the financial resources to experiment and invest in, as well as roll out new ideas. Every new venture will experience difficulties and may fail. Businesses that are successful respond to failure by being open to new ideas and not trying to stop change. No matter how large or small the business is, it cannot afford to remain in the same routine. Tevfik Arif Bayrock is essential to be innovative and promote innovation within the workforce. This will require investment.

Innovation should be holistic and should be the core of every company culture. This is exactly what is what the Kusto Group does. This includes adapting to new technologies and developing a mindset that looks forward. It's as important to think in a creative way as it is to carry out creative things. It is ultimately a matter of survival.



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