Why does business innovation in the Philippines work?
- Filipinos are willing to embrace change
- People are getting tired of the typical
- People are actively looking for innovations
Innovation. This has led to so many advancements in human society. Without it, technology won’t grow at the astounding rate as it has. Innovation is a necessary part of life.
In the Philippines, business innovation platforms are becoming more and more popular because of what it can bring to a business. You might find your business to be the same as all the rest, but once you implement an innovation platform (or at least a business innovation model), you’ll surely experience an increase in your growth soon.
The Philippines, in particular, is now primarily composed of millennials. Basically, the younger generation is becoming more and more active in almost all aspects of life. You’ll be sure that with a little bit of innovation, you’ll find your business at the top of the standings no matter where you were before!
Identify what’s wrong with the typical point of sale systems in the Philippines, and put your own twist and solution to it! Become the spark for innovation your company needs because here are a list of surprising reasons why business innovation platforms work in the Philippines!
Filipinos are Willing to Embrace Change
Here’s a short history lesson for those who aren’t familiar with it. The Philippines has been colonized by three different countries. Each time they adapted, yet still strived for change because they want to get their freedom.
Even after being colonized multiple times, the Filipino people still strived for change in things that are truly degrading of society.
Today, you can see glimpses of this willingness to change even in your typical Filipino walking by the sidewalk.
Change is something that’s normal to us. We don’t necessarily look for it, but when it’s needed we very much agree to it.
The same goes for businesses and services. Yes, there are people who would love to stick to what they know, but a vast majority of people in the Philippines are quite welcoming of innovations and change in any field they’re interested in.
Take a look at the revolutionary service that is Airbnb. In a span of a few years, it became a top contender for accommodations, often beating out popular hotels, all while not owning a single building dedicated for commercial accommodations!
They took a risk and made it big—all in the name of innovation.
People are Getting Tired of the Typical
Notice how when given the option, a typical Filipino family will prioritize something new instead of something familiar. This is because, in this day and age, people are starting to get tired of things extremely quickly. One stay in a famous hotel is enough. Dinner at a trendy restaurant is nice for a few times. Even the typical phone has a very short lifespan because of how fast the next iPhone or Samsung phone comes out after the previous one.
When it comes to businesses, becoming stale is definitely no longer an acceptable option. Stagnancy is almost synonymous as bankruptcy to some. Because as soon as your customers are no longer satisfied with the products and services that you offer, they’ll be quick to jump to other brands that are capable of doing so.
Innovation nowadays is important, even at the smallest of scales. Not only will regular innovation be a reason for you to start up advertisements once again, but it will also serve as a means to reinvigorate your loyal customers.
People are Actively Looking for Innovations
As mentioned above, people nowadays get used to things fast. Seldom will people decide to stick to one thing. That means they’ve truly decided that that is the best option they have at the moment. That being said, this opinion can easily change once they find something better.
The sad part is that there are very few companies that openly choose to make these innovations because it’s basically a risk. Much like how well-established companies choose to not make drastic innovations, they’re also scared to take the risk. That’s why startups are the primary initiators of these and are the ones to reap the benefits.
All in all, a lot of people no longer have their eyes on the large, long-standing corporations. Nowadays, most people are looking at new businesses, the startups, the group of entrepreneurs with great potential—because it’s believed that they will be the ones to bring innovation into the playing field.
In all honesty, implementing a business innovation platform in the Philippines is a risk. There’s no assurance that it’ll work, and that means it’s basically a make or break scenario.
That being said, with a mindset much like the Filipino people, you’ll be sure that there will be at least a decent minority that will support these innovations as long as they are truly something that satisfies their market.