norwich economic breakfast - 09 october 2015
TRANSCRIPT
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Norwich Economic Breakfast
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Welcome
Caroline WilliamsChief Executive
Norfolk Chamber of Commerce
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Complimentary WIFI is available. Username: QHotels, No password required
Tweet us at @norfolkchamber #ChamberNetworking
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B2B Exhibition 2015
Thursday 15 OctoberNorwich City Football Club
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Great Yarmouth Business Breakfast
Thursday 12 NovemberGreat Yarmouth Town Hall
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An Audience with Norfolk Schools
Friday 20 NovemberHoliday Inn North, Norwich
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Sponsor Welcome
Stephen DrakeManaging Director, Steeles Law
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Networking Ice Breaker
What’s in your wallet?
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B2B Exhibition 2015
Thursday 15 OctoberNorwich City Football Club
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Safari Networking
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Dr. Antony Jackson, CFASchool of Economics
University of East Anglia
Risk Parity: The New Financial Crisis?
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Impacts of Digital Revolution on the Economy
Lindsey RixChief Operating Officer at Aviva
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Intro• The World is
Changing• Economic
Considerations• How fast will it
change?
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We are here
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201896% of companies will be
using Internet of Things in some way
202050 Billionconnected devices
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The digital revolution has been the graveyard of many brands that ignored impending disruption & invested in the status quo
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The world’s largest taxi company
owns no VEHICLES
The world’s largest accommodation provider
owns no PROPERTIES
The world’s most popular media owner
produces no CONTENT
The interface is where the profit is
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The world is changing FAS
TNew agile competitors are responding faster
to customers’ new needs, disrupting our
core business.
New patterns for innovation emerging, new entrants see opportunities to disrupt across industries.
“Freemium” challenges businesses to define a sustainable position in the value chain.
Customer needs change as core demographics shift (ageing population, wealth accumulation etc.).
Interpreting data quickly and intuitively
to inform the development of
products and services is a key competitive
advantage. Smart devices link to
sensors everywhere (people, places and things).
Systems can understand context, predict change and optimise for future events.
Data consolidators willwield increasing power.
People will be protective of their data, but prepared to share it in return for value.
Customers are more in control,
expecting to self-serve & self- solve. They want access to data & to use it to guide their own
decisions. Increasing expectation for
bespoke products and services delivered wherever and whenever the customer chooses.
Customers expect businesses to know them, to communicate seamlessly across channels and to predict their specific, changing needs.
The economic power of governments will decline further & the
power of virtual & local 'communities‘
will grow.
Virtual & real world boundaries blur as we spend more time and do more online.
Social networking is ubiquitous & creates new forms of community.
Peer review & user generated web transforms online content.
Real-time user experience is accessible & potentially viral, holding organisations accountable.
THE AGE OF DISRUPTION
WINNING THROUGH DATA
MY LIFE, MY WAY
POWER OF COMMUNITIES
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Opportunities Threats
Economic impacts for Norwich?
• Capitalise on the pace of change & welcome the digital revolution
• Being an incumbent no longer ensures you win
• Big business vs small business- piranhas!
• Harness the regions’ strengths, ideas and creativity
• Power of partnerships
• Location no longer has the challenges it used to
• First mover advantage
• Profile and brand elevation
• Not being bold enough
• Retention and Growth
• Skills
• Infrastructure
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https://www.youtube.com/watch?feature=player_detailpage&v=5Jxo7AGZmMw
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Q&A
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B2B Exhibition 2015
Thursday 15 OctoberNorwich City Football Club