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Brexit is like the Millennium Bug

Published on 15th October 2018

Brexit is like the Millennium Bug

So, who knows what will happen after Brexit? Answer - nobody.
Where there is uncertainty people will fill the fact vacuum with opinions and views of such wide diversity it can lead to decision paralysis. "There are so many things which may happen, we don't know what to do, so let's do nothing!"

This is folly, there is plenty to be getting on with right now to understand the potential impacts and to mitigate risk. You can scenario plan the impact of an increase in the cost of trading across borders and then start to mitigate these risks. ITI has a broad range of FREE support services to help you do just that.

I teach Innovation Engineering as part of ITI’s Challenge Programme. We teach SME’s HOW to innovate so that they can bring meaningfully unique products and services to market. Being different and meaningful means you can charge more. Higher profit is a defence against increased trading costs. However, the impact of understanding the MINDSET required for innovation goes much deeper.

One of the most rewarding parts of my job is listening to companies 6-months after the Challenge Programme talking about their confidence levels. Understanding how to innovate builds resilience in individuals and companies. Understanding how to innovate leads to an ability to better manage change. Why? Because the tools and techniques you need to run an innovation project lead to you managing a situation with unknow outcomes. We experiment our way through learning cycles to make the unknown known. This drives out fear. This leads to fact-based decisions. This leads to a structured approach to change management.

“Innovation is the ability to see change as an opportunity – not a threat” Steve Jobs.

Embedding a system for innovation in your organisation does so much more than support new product development. You build resilience, proactivity and confidence.

Join the Challenge Programme and ignite Innovation in your business to turn your Brexit Dilemma into a sustainable, profitable future.

 

Helen Potter

About the author

This article was penned by Helen Potter, Matrix Senior Consultant who delivers ITI's Challenge Programme.

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