CARIRI recently hosted a conference in collaboration with WAITRO, aimed at exploring actionable strategies and solutions for the challenges faced by businesses in Trinidad and Tobago. Our Head of Business Development, Melissa Cobham shared, “The conference brought together stakeholders from public, private, government, and research education to discuss actionable strategies and solutions for the challenges faced by businesses in the country”
4 Top tips for building a globally competitive business:
Impactful Technology: The true value of technology lies in its ability to effect change and produce measurable results. Technology should be used to make a practical difference to businesses and individuals alike.
Sustainability: Prioritizing sustainability is crucial for global competitiveness. To position themselves for success, businesses should differentiate themselves from the competition, collaborate with global businesses, leverage technology, focus on quality, and prioritize sustainability.
Innovation and Progress: Innovation can lead to progress by transforming challenges into solutions. Embracing innovation and new ideas can drive positive change and create opportunities for success at both individual and organizational levels.
Collaboration: Innovation thrives on collective action, making partnerships vital to success. By engaging with stakeholders and working collaboratively, organizations can create a lasting impact that extends beyond their immediate community.
Research: Innovation and research go hand in hand when it comes to creating a competitive edge in the global market. By investing in research, businesses can stay ahead of the curve and unlock the potential for success on a global scale.
Overcoming Barriers: Innovation is even more effective when there is an existing market to innovate into. Partnerships can help overcome cultural differences and gain a competitive edge in the global marketplace, while also easing the burden of innovation.
Innovation is a challenging journey that inevitably involves failures. Embracing these setbacks as learning opportunities is crucial to achieving success. Through constant learning and improvement, businesses can develop the necessary tools and strategies to establish a strong presence in the global marketplace. Embracing innovation and failure as a means of growth can ultimately lead to long-term success and a competitive edge in the global arena.
The ‘Building Globally Competitive Businesses’ conference was a testament to the potential of Trinidad and Tobago’s businesses to succeed on a global scale. By embracing technology, prioritizing sustainability, and fostering innovation through collaboration and research, we can pave the way for a brighter future.
As Winston Churchill once said, “Success is not final, failure is not fatal: it is the courage to continue that count.” Let us continue to move forward with courage and determination, knowing that with hard work and a commitment to innovation, we can achieve our goal of building globally competitive businesses.
If you need help to grow your business sustainably, chat with Melissa on a discovery call at firstname.lastname@example.org
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