Organisations need to embrace digital changes, avoid creating long-term strategies and allow creative thinking to take place across all levels if they want to grow, according to business development experts in the East Midlands.
The Managing Growth and Risk in a Digital Market breakfast workshop – held by leading accountancy firm UHY Hacker Young in association with Tinderbox Business Development – took place on Friday, 28 September at Hart’s Hotel, in Nottingham, and was attended by professionals from across the city.
Speakers discussed how businesses can grow in an increasingly digital world, with topics covering cyber crime and step change growth.
Simon Browning, partner in charge of UHY’s Nottingham office, said: “This workshop aimed to give attendees a brief overview on how their business can become successful and continue to develop and grow, while also providing advice on cyber crime.
“Both subjects are extremely topical at the moment and we are very pleased by the positive feedback we received from our clients at the end of the session.”
David Turner, managing director at Tinderbox, said businesses should held regular creative brainstorms with all members of the teams, including more junior employees.
He added: “Give people the opportunity to share their ideas – the key to success is to get people with ‘know how’ and expertise thinking creatively within the business. The power of the mind is incredible but only if you allow everyone within your team to showcase that power.”
Mr Turner also discussed why businesses need to be forward-thinking, particularly in a world that is constantly changing. He said: “Embrace the market and digital changes – this is what the likes of Amazon, Uber and Netflix have done, and it’s easy to see how these companies are flourishing.
“Avoid long term strategies. You should be looking at six months to a year ahead because things are constantly shifting and you want to be able to adapt quickly. You can create three-year plans but those plans need to reviewing on a regular basis to ensure they’re up to date and relevant.”
As part of the workshop, Tinderbox associate partner, Roger Willison-Gray, spoke about cyber crime and how it is something all businesses need to be aware of in order to protect themselves.
He added: “A big mistake businesses make is to treat cyber security as a specialism. It isn’t. It’s everyone’s responsibility so ensure every single person in a company is educated on the risks and how to deal with them.”
For more information on UHY Hacker Young, please visit: http://uhy-uk.com or call 0115 959 0900.