Everyone can innovate, according to Jacqueline McGuigan, of TMP Solicitors, the firm sponsoring the Business Partnership category at The Wharf Innovation In Business Awards 2016.
“Incorporating innovation in your business can help you save time and money, and give you the competitive advantage to grow and adapt your business in the marketplace,” she said.
For businesses, that could mean implementing new ideas, creating dynamic products or improving your existing services. Jacqueline said being innovative did not necessarily mean inventing anything.
She said: “Innovation can mean changing your business model and adapting to changes in your environment to deliver better products or services.
"Businesses that innovate create more efficient work processes and have better productivity and performance.”
The provision of legal services is constantly changing, according to Jacqueline and those innovative firms or individuals embracing the times we live in and understanding the way in which consumers wish to purchase such services, are the ones that will stand out.
“I am always looking at different ways in which legal services can be purchased,” she said.
“This is one of the key areas preventing consumers from getting services which can then have an effect on restricting access to justice and no lawyer wishes to inhibit that.”
Jacqueline gives a number of key steps as important to generating business innovation, including conducting an analysis of the market environment, developing a strategic and responsive plan, connecting with customers, seeking advice and utilising available resources.
This may also include seeking Intellectual Property protection for the commercialisation of ideas.
“Remember, innovation is the key to competitive advantage for your business,” she said. “I am delighted to be sponsoring the Business Partnership category. I have worked in Canary Wharf for 10 years and the place goes from strength to strength.
“It is a great environment to work in and, while location, is important to businesses, it is not the be all and end all. I believe good businesses can operate anywhere.”
As far as TMP’s involvement with the judging of the awards goes, Jacqueline said she would be looking for a business that showed creativity or had processes in place to create better efficiency or productivity in relation to its partnership activities.
She said: “While innovation is the key to giving your business the edge, I am not looking for a company to reinvent the wheel.
“The most simple of partnerships can have the greatest effect when it comes to providing a service that people want to buy into. Size doesn’t matter at all.”
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