Brexit: What It Could Mean for High Growth Companies
On June 23, 2016, 52 percent of the United Kingdom voted to exit the European Union. This process will not happen immediately and could take at least two years to complete. So, what will this mean to U.S. companies and how will it impact high growth companies? In working with innovative, high growth companies in the technology, health and industrial industries, Cherry Bekaert found that most executives believe there will be some type of impact on their business, but that impact will be minimal. Currency risks seem to be the top concern as this decision could hurt the British pound. Read More.
Collaborate to Innovate
Creating strong relationships with partners and suppliers is an important part of what makes a company successful in its innovation efforts. The key to keeping those strong relationships is when information flows freely, trust is established and loyalty remains intact. Part three of the Forbes magazine series on types of innovation models, partner/supplier innovation , is thought of as a necessity to be successful in today’s environment. Not only is it just a partnership, but the sharing of data information is key to the success. The article highlights partnership examples such as Walmart sharing inventory data and store level sales with P&G. Read More.
Why Innovation Should be Top Priority
As companies are pushed to become more efficient and effective, innovation is becoming a necessity as opposed to an option. Although every company will have different priorities and issues to handle and manage, those that fail to innovate may jeopardize their competitiveness, put retention of key talent at risk and limit growth opportunities. Innovation should be part of a company’s strategy and business plan. This will allow a business to uncover growth opportunities, anticipate customer needs, prepare for future trends, and position it for long-term success. Forbes magazine has initiated a six-part series on the five types of innovation models. Read More.
Cherry Bekaert Markets Lead in Innovation
Ranking all 50 states’ innovation efforts, the Consumer Electronics Association (“CEA”) recently released the results of its inaugural Innovation Scorecard. Based on criteria reflecting areas such as welcoming new business models, attracting investment and having innovation-friendly sustainable policies, the states’ overall performance was split into four categories: Innovation Champions, Innovation Leaders, Innovation Adopters and Modest Innovators. Three of Cherry Bekaert’s geographic markets were named Innovation Champions (North Carolina, Virginia and Washington, D.C.), while three others were categorized as Innovation Leaders (Florida, Georgia and South Carolina). For the complete results of the 2015 Innovation Scorecard , visit the CEA website. Also check out our. Read More.