A McKinsey study on business development and innovation selected a group of more than fifty companies that significantly outperformed their competitors with the aim of determining which best practices drove such growth.
The so-called “innovative growers” achieved above-average total shareholder returns for their industry between 2012 and 2022. What did they do differently? They incorporated innovation into their overall strategic aspirations.
If you want to follow in the footsteps of this select group, in this post we tell you how to increase the productive capacity of a company, how to calculate it and what factors can compromise it company’s productive .
The productive capacity of a company can
and is the maximum amount of goods or services that it can produce within a given period with the resources it has available.
Learning how to increase productive capacity is possible if a series of good practices are applied, such as investing in the right technology, training and industry email list motivating teams, and collecting and using data.
Innovation should always be at the centre of the discussion. At least that is the case for innovative growers. McKinsey noted that these companies talk about innovation twice as much as their peers , and that in those conversations, they emphasise innovation as a means how to combine seo and content marketing to create profitable and sustainable growth.
Consider process automation , for example , and the benefits it brings in terms of agility and accuracy. This is the case with chatbots , which, according to Zendesk’s CX Trends 2024 Report , have increasingly begun to feel like digital agents, able to convey brand traits in a friendly way while solving a wider range of problems company’s productive that would otherwise be handled by a human.
Investing in upskilling your teams is one of the most effective ways to increase a company’s productive capacity. Aware of this trend, CX leaders told Zendesk that they will increase investments in AI (and other related technologies) to enhance
the skills of their customer service agents
McKinsey research also showed that innovative growers have 30% more digital staff and analytics capabilities compared to their industry peers . This allows them to monitor performance and understand how to improve.
And customers prefer it. According to the Zendesk report mentioned above, users increasingly want companies to use the mountains of personal data they aleart news have to offer warm, personalized experiences. In response, 70% of CX leaders plan to integrate generative AI into many of their touchpoints company’s productive in the next two years.
70% of CX leaders believe generative AI is making every digital customer interaction more efficient, from search functions to voice assistants. Download the full report for free and learn about all the AI trends for the coming years.
