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Category Archive Innovations

Innovations NZ

A guide to why you should implement innovative strategies and goals in your business 

While innovation is a nice word, it might feel daunting to begin implementing actual innovative strategies in your business. In this article, we’ll help you understand why these types of strategies can help you, as well as why New Zealand is the perfect place to do so. 

What is innovation? 

At its core, innovation is the concept of trying something new. The very best innovations are not just new for the sake of being new, but are presented as the solution to a problem. This can take the form of a new product, a new business model or process, or even a small change in how you run business meetings. In other words, it’s a way of breaking barriers and changing the status quo. By doing so, it creates value. 

But more than just the product, service, or other outcomes that are often associated with the word innovation, the concept is just as much about having an innovative outlook. If you tackle issues and projects at work with the attitude that something new and meaningful is possible, and that change is part of the process, that allows for a freer business model which can be more resilient and healthy.  

Why should we care about innovation? 

All around the world, businesses are changing their budgets and calendars in order to focus on innovation. But does innovation actually matter? And even if it does, why should we care about it? 

There has been a large range of studies on the effect of innovation on businesses and markets, both from the perspective of revenue and general financial health. Overall, the studies show that there is a large range of positive impacts from implementing innovative strategies. For example, innovative businesses are more resilient. The Boston Consultancy Group found that the global top 50 businesses were able to recover a lot faster during the pandemic, where they outperformed the 2020 market by 17 percentage points.  

There is also the case of increased competitive advantage and business growth. Companies with a clear focus on innovation will attract workers with a strong affinity for development. Attracting stronger workers will lead the company towards a stronger goal orientation which will most likely increase efficiency and productivity, thus leading to business growth. 

Related to the previous point, companies that do not focus on innovation will soon lag behind. Not only has innovation become an “it”-word in global literature and seminars, but a study by BCG also found that 75 per cent of global companies list innovation as one of their top three priorities. As the concept of innovation grows in popularity, businesses that fall behind in prioritizing it risk losing out on the market to those who do.  

How can you implement innovative strategies in your business? 

So, what can you do to bring more innovation to your company or project? There are several good innovation strategies out there, but we will mention a few here. 

  • Set a clear goal. The first step to bringing everyone on board the innovation train is to create a common goal. Perhaps it’s a value goal, such as working to create valuable solutions rather than focusing on material goals. Perhaps the goal is more hands-on for reaching a certain solution or even becoming nominated for an innovation award.  
  • Interdisciplinary processes. Innovation happens when people work together. Therefore, bring diverse sectors to your project evaluations. Bring different groups, both from within the company and external members (such as customers or supply chain partners), together to evaluate and brainstorm projects. This will also build a sense of overarching purpose, rather than individual and isolated group efforts. 
  • Innovative friendly leadership. Innovation is about taking risks. This also means that the company needs to be a space where employees feel supported when trying new ideas. Therefore, the leadership needs to be supportive and encourage experimentation without penalizing it.  

Incorporating Innovation New Zealand NZ 

New Zealand is one of the top countries in the world that have managed to promote innovation and growth in its national economic strategy. It is among the top freest economies in the world, so it is easy to start a business as well as promote innovations NZ in the Oceanian state. Building on these market foundations, there are also innovation funding programs such as the NZIB that aid innovative Kiwi start-up companies. 

There is also a social foundation for innovation in the country. The most innovative companies tend to be the most diverse. New Zealand almost always stands out in global diversity and equality rankings, thus providing fertile grounds for innovative ideas and cooperation to sprout.  

As we’ve mentioned in a different article, New Zealand not only makes it easy to be innovative but is also very good at celebrating it. There are plenty of innovation awards New Zealand where both large and small companies can compete and be recognized. The wide array of NZ innovation awards is also a clever part of a larger innovation promotion strategy, as research has found that these types of events also help improve the public’s perception of the public sector.  

Seal innovation

Seal Industry Innovation

There are some links in the manufacturing of goods that are more essential than others. One of these is that of sealing technologies. The New Zealand market for industrial seals has grown exponentially, and there are several innovative technologies and developments that keep driving the industry towards a greener and more efficient future, including seal innovations nz.  

What do we mean by the seal industry?

Seals can be found in machines as large as airplanes and as small as sensitive medical equipment. Their main function is to prevent leakage, retain lubrication, block contamination, and hold pressure. In other words, seals help optimize performance and increased its process reliability. They can used in both static and rotary systems.  

There are a large range of seals on the market, including but not limited to: O-rings, hydraulic seals, rotary seals, pneumatic seals, mechanical seals, etc. There are also industry specific seals, as the products are used in a large range of operating areas. 

The innovative technology applied in the seal industry has helped the market grow and expand their operations. With the help of industrial seals, companies have been able to create more sustainable and long-lasting machine processes, as the seals prevent wear and tear from weather, temperatures, corrosion, and more.    

Since its beginning, the sealing industry has grown exponentially, and the growth does not seem to slow. In 2021 the global sealing industry was worth around 11.8 billion USD. According to market experts, the industry is set to grow another 6 billion USD by 2029, creating a compound annual growth rate (CAGR) of 5.7 per cent.  

Innovative Seal Technologies  

The birth of the sealing market was innovative in itself, and the pioneering mindset and research on the topic keeps going on high gears. Technological advancements are in motion every single day, and the seal imports and exports will expand further as they begin to be implemented into the industry. 

3D Printing 

One of the innovative techniques that have improved the industry so far is the implementation of three-dimensional printing technology. Prior to the idea of 3D printing, seals were produced by injection or compression molding, where seals were sculpted by producing lots of waste. With the help of 3D printing, seals are now only produced with the accurate amount of material for each seal, thus saving manufacturers both time and money.  

Furthermore, the technology has sped up the process of creating seal prototypes, which can be key in research and development of new techniques, shapes, and sizes. By doing so, it expands the flexibility of the already agile industry. 

FFKM, PTFE and Nanotechnology Materials 

Other researchers have looked at how the materials used can be more sustainable. As a result, materials such as FFKM and PTFE have been developed. PTFE stands for polytetrafluoroethylene and is more commonly known as Teflon. The material has shown resistance to temperature, corrosion, and electricity, making it a good and durable sealant.  

FFKM produces similar characteristics to the PTFE but has shown potential for more extreme situations. For example, they have been adopted in aerospace manufacturing where temperatures can fall as low as 200 degrees Celsius.  

Some have also discussed the potential use of nanotechnology and their self-healing properties in the sealing industry. These features, though they still haven’t gained ground, might help make seals even more versatile and flexible.  

NZ Branch Leader: Seal Innovations (SIL) 

One of the largest innovators within this field is the Australia-New Zealand joint company Seal Innovations (SIL). The company has combined several branches within the sealing industry in order to become a premium supplier of high-quality sealing equipment to its customers. The company imports seal and gasket supplies from both local and global manufacturers in order to continue their long running history of seal innovations nz.  

The SIL team stands on three branch pillars: Seal Imports, NAK, and Alliance Seal, the latter of which formed after combining Sealcom, Interseal, and Specialised Gaskets. In combining these three power houses, SIL has been able to build up a breadth of operations and seal and gasket product range unlike most companies in the branch.  

Conclusion

The sealing industry maintains an innovative mindset in producing durable business tech solutions. Both global and local seal manufacturers are working hard towards adopting new innovative technologies in order to create even better wear-and-tear protection.