five keys to mastering the new economy
DESCRIPTION
Five Keys To Mastering The New Economy is a brief presentation on some of the emerging trends that small businesses must begin to master in order to survive a global and integrated economy.TRANSCRIPT
KEYS TO MASTERING THE NEW ECONOMY
@MDejean
DON’T PANIC
RAPIDLY DEVELOPING GLOBAL SCENARIO
IF YOU UNDERSTAND THE TECHNOLOGY, IT IS OBSOLETE
SHORTENING LIFE CYCLE OF PRODUCTS AND SERVICES
CUSTOMERS AGGRESSIVELY SEEK OUT ALTERNATIVES AND HOLD OUT FOR THE BEST OPTION
CUSTOMER-DRIVEN ECONOMY
RAPIDLY CHANGING BUSINESS
ENVIRONMENT
GLOBALIZATION OF WORLD ECONOMIES, TECHNOLOGIES & INNOVATIONS
DECAYING INDUSTRIAL ECONOMY
KNOWLEDGE-BASED ENTREPRENEURIAL ECONOMY DRIVEN BY INNOVATIVE TECHNOLOGY
THE EVOLUTION OF NEW MARKETS
DON’T PANIC
S
H
I
F
T
THE FIRST RESPONSIBILITY OF A LEADER IS TO DEFINE REALITY
MAX DEPREE, CHAIRMAN & CEOHERMAN MILLET
REASSESS
REINVENT
RESET
CHANGE THE BOUNDARIES OF
BUSINESS
•Assemble your “Team” when and where you need them ( scale without permanent mass)
•Use employees in environments where they thrive at the peak of their capabilities.
•Move people away from dealing with routines to dealing with exceptions
•View Time & Space as shifting boundaries
•Institute data mining (Recognize patterns in customer activity)
SHIFT PEOPLE INTO THINKING WORK
CHANGE THE BOUNDARIES OF
BUSINESSSHIFT PEOPLE INTO THINKING WORK
•Create a Paperless Office•Digitize common processes•Provide an environment that focuses more on digital assets
•Touch Your Customers•Turn salespeople into consultants•Majority of interactions on the Internet will be support rather than sales•Create a trust portal•Do you incorporate video and phone support?
•Look into how portable devices and wireless networks can extend your information systems out into the field, the factory, the warehouse and other areas.
TREAT IT AS A STRATEGIC
RESOURCEVIRTUALIZE YOUR BUSINESS INFRASTRUCTURE
ACCELERATE YOUR BNS
PREPARE FOR THE DIGITAL FUTURE
IMPLEMENT A DIGITAL NERVOUS SYSTEM
PREPARE FOR THE DIGITAL
FUTURE
IMPLEMENT A DIGITAL NERVOUS SYSTEM
Most transactions between business and consumers, business and business and consumers and government will become self-service digital transactions. Intermediaries will evolve to add value or perish.
Customer service will become the primary value-added function in every business. Human involvement in service will shift from routine, low value tasks to high value, personal consultancy on important issues-problems or desires- for the customer.
Companies will use a digital nervous system to regularly transform their internal processes to adapt to an environment that constantly changes because of customer needs and competition.
WHEN INFORMATION FLOWS AS THROUGH YOUR ORGANIZATION AS QUICKLY AS HUMAN THOUGHT. IT’S BUSINESS AT THE SPEED OF THOUGHTBILL GATES, CEOMICROSOFT
Speed + Costs = Trust
TOMORROW’S SMALL BUSINESSES WILL INCREASINGLY COLLABORATE WITH BIG BUSINESSES, GAIN ACCESS TO BIG BUSINESS INFRASTRUCTURE, AND TAKE FULL ADVANTAGE OF A GLOBAL MARKETPLACE”
RICK JENSEN, SENIOR VICE PRESIDENT AND GENERAL MANAGER OF INTUIT’S SMALL BUSINESS GROUP.
small businesses, equipped with advanced technology and unprecedented social networks, will amplify their reach and capabilities.
EMERGING TRENDS
BRAIN MEETS BRAWN TO CREATE OPPORTUNITIES FOR SMALL BUSINESS
THE EMERGENCE OF BARBELL-LIKE ECONOMIC STRUCTURES WILL DRIVE NEW BUSINESS COLLABORATIONS, CREATING
GREATER OPPORTUNITY AND PROFITABILITY FOR SMALL BUSINESS.
The Next Wave of Globalization Will be Driven by Small Business
Muted trade barriers, improved technology, and professional and social networks across borders will facilitate small business access to new
markets
MANAGE WITH THE FORCE OF
FACTSINNOVATE THROUGH TECHNOLOGY
Differentiate Your Company In The Information Age
Enable Your Information to be put to work on behalf of your customers
Information Flow is the primary differentiator for business in the digital age.
Bringing together the right information with the right people will dramatically improve a company’s ability to develop and act on strategic business opportunities.
Change the company-customer dynamic
AMPLIFY THE NETWORK
Marvin Dejean, CEO Markcom Industries(954)254-9030 [email protected] Twitter: @MDejean Facebook: Facebook.com/marvindejean Linkedin:Marvin Dejean