Innovative Strategies and Use of Innovation for Future Resiliency

Business Grant Proposal
Student Name
Department, University
Course Code: Course Name
Professor
Date
Business Grant Proposal
Innovative Strategies and Use of Innovation for Future Resiliency
In my T-shirt business, we recognize the value of innovation as a strategy to improve sustainability in a business environment characterized by technological changes, competition, and recurring economic crises. The enterprise's key innovative strategies to survive the recent economic crisis include strategic networking, digitization, and marketing innovations. Strategic networking is a necessary managerial innovation to overcome growth barriers amid the slowdown. The strategic alliances strengthened the business by disseminating liabilities, supplementing resources, and offering vast market opportunities while at the same time enhancing the brand and reputation. The business has also implemented digitization to adjust to new norms prompted by the current economic crisis, including online commerce. The business has developed strong technical capabilities to foster new digitization standards. This has enabled the business to function with agility, becoming increasingly essential in the uncertain business climate. In this way, the business leverages opportunities brought by e-commerce and rapid globalization to boost its sales and reach its existing and prospective customers.
In order to overcome the demand shock, the business has implemented digital marketing, product differentiation, and customer-centricity. The firm pivots its T-shirts towards high-demand areas and seeks to retain its customers for survival. It has also implemented innovative marketing and selling approaches such as providing better pricing models, exciting discounts, and healthy partnerships with rivals. I plan to use the aforementioned innovative strategies to help build future resiliency by facilitating digital transformation. In this way, the business would have the right infrastructure, technology, and skills to survive in a digitally transformed economy and thus enhance resiliency into the future. The business leverages digital transformation to guarantee performance improvements and sustainability amid harsh econom...