Geneviève Masson, eng. PhD, Business Unit Manager, Engineering and Product Development
Mechanical engineer, holds a doctorate from the Université de Sherbrooke, and has over 20 years’ experience in R&D and product development. Passionate about systems optimization, she integrates innovative solutions to meet technical challenges and improve process efficiency.
The word innovation is on everyone’s lips: the importance of innovating, of finding innovative solutions. Yes! But how? How can we do this, when day-to-day business often takes precedence over creative and strategic thinking? And above all, why innovate at all? In this article, we explore the importance of making time and space for innovation to ensure the sustainability of your business, solutions for integrating innovation into your internal processes, and tips for identifying innovation opportunities.
Giving your teams time to innovate is crucial to the success and longevity of your business. Why? Firstly, because innovation provides a significant competitive advantage. However, in the current context of trade policies, innovation becomes even more crucial. With the recent announcement of U.S. tariffs on imports from Canada, companies must redouble their efforts to remain competitive. These tariffs are creating major economic uncertainty. Companies must therefore innovate not only to differentiate themselves, but also to overcome the challenges posed by these new trade barriers.
Innovation at the heart of business success
A question of time
Identify innovation opportunities within your company
There are a few tricks you can implement within your company to maximize innovation opportunities, whether by organizing brainstorming sessions on a regular basis or setting up an idea box system to collect anonymous suggestions. On the other hand, it’s advisable to analyze existing processes through regular audits, employee and customer feedback, and observe competitive practices and market trends. This will undoubtedly put you on the trail of areas conducive to innovation! Technology and competitive intelligence will help you anticipate your customers’ future needs by keeping abreast of new technologies and market trends. What’s more, remain open and receptive to new ideas, even if they seem risky: encouraging risk-taking and creativity will enable you to explore unsuspected opportunities for innovation!
Tariff policies: challenges and opportunities for innovation
Tariff policies can have a significant impact on international trade and supply chains. These measures create a climate of uncertainty that can hamper innovation, but they also offer opportunities for companies capable of adapting. Indeed, tariffs can lead to higher costs for many companies; these higher costs can encourage companies to innovate to reduce their expenses and maintain their competitiveness, for example by choosing alternative materials or optimizing their production processes. Trade barriers also prompt some companies to diversify their markets to reduce their dependence on a single country, thus stimulating innovation by adapting their products and services to the needs of new markets and encouraging international collaboration. Finally, the economic uncertainty generated by tariff policies highlights the importance of resilience for businesses, which need to adapt quickly and find creative solutions to unforeseen challenges, requiring a culture of innovation that values agility and flexibility.
Partnerships: accelerating innovation
Teaming up with external partners such as engineering firms or universities can help you reduce the risks associated with your innovation projects, while accelerating the development of innovative products or services. These collaborations provide you with access to specialized expertise, helping you avoid costly mistakes and give projects the right direction from the outset. By leveraging your partners’ technologies and best practices, the development process is accelerated, and creativity is stimulated by outside perspectives. To maximize these opportunities, contact the experts at Merkur and give your innovation projects a boost!
Conclusion: innovation, an ally for competitiveness
Giving yourself the opportunity to innovate requires a combination of curiosity, diversity, experimentation and strategic intelligence. Tariff issues illustrate how external challenges can both hinder and stimulate innovation. By adopting a proactive approach and cultivating an environment conducive to creativity, companies can turn obstacles into opportunities and continue to innovate to meet tomorrow’s needs.
To maximize these opportunities, contact the experts at Merkur and give your innovation projects a boost!
