written by: Donald Cyphers
Syndicated by: Montana News
It is no longer a brave new world for businesses. The digital age is here, and if experts are to be believed, businesses that have not already embraced this opportunity, risk joining those companies that refuse to adapt, and consequently are rapidly losing customers and revenue.
Consider this: according to various business statistics, during 2015, S&P 500 companies as a group lost 3 percent in sales and 15 percent in earnings. At the same time, "Unicorn" private sectors companies, which are valued at more than $1 billion, including organizations such as Uber and Airbnb, are transforming the global business landscape in the digital age and quickly stepping over the old guard.
This is the same scenario as the old Dinosaur newspapers such as the now de-funked Billings Outpost owned by David Crisp and the current still in-operation liberal dead tree, the Billings Gazette.
At Least former Billings Gazette employee Ed Kemmick had the sense to jump off the cliff into the digital world on his own about 2 years ago with his Last Best news venture which is primarily funded by donations. so it has not grown up enough yet to fly on it's own with out donations, but time will tell nevertheless, he is trying and that's what counts when the day if over.
So, lets now look at social media such as the likes of Snapchat and Pinterest have that other companies do not? technology is at the core of these forward-looking enterprises and there are four distinct characteristics that the Montana News investigative reporter has found that these companies seem to embrace:
* Experience-Centric. These companies strive to offer the consumers a unified experience.
* Service-Oriented. These companies change the operating model to focus on customer experience.
* Agile & Lean. These companies optimize their size for fast-paced maneuvers.
* Ecosystem-Driven. These companies collaborate to extend the ecosystem beyond the enterprise.
"Going forward -- with the disruptions in the business landscape due to digitization, new age business models and technologies -- the thinking of business as usual and expecting to succeed needs a change, An enterprise can no longer operate in isolation. They NEED THE WORLD MARKET.
Instead, some would say that this is a holistic business model approach.
Well is it?
A holistic business model transformation, simply means overhauling it's business functions and operations for a unified experience. A business must hyper-focus on services and collaborate across the entire business market for success.
Considering that there really is no set blueprint for success in the business world, it is important to remember that obtaining leverage in the digital world means having the capability to implement a digital business plan that will work in the modern day work place.
It's called becoming lean while using traditional work methods and solutions yet being successful in making it sound like an orchestration of learning and cognitive solutions. This is a more modular approach and should enable a business to retain and gain significant traction among new customers by using the digital market approach.