Business today is all about the focus on customer touch points and adding incremental values to an organisation’s offerings to address the pain areas in a business engagement. The concept of a business in a steady state has given way to an alternating scenario of deep change and stability in a cyclical loop. That’s how the business is being compelled to be always in an agile mode, breaking the barriers of hierarchy and a traditional structure but to breath in delivering innovations and newer experiences all the time. Any business that fails to recognise this shift in a static business model to an intense change in execution, will face an accelerated decline.
Embracing a digital transformation is the best way to address the new business challenges. Cloud shift, Artificial Intelligence, Automation are gaining momentum in both mid sized and large enterprises and they help to recalibrate the business offerings to add exponential value to a customer engagement and by effectively leveraging the eco-system, they drive the changing personalisation needs of target customers.
Whilst on the topic of personalisation, it is interesting and revealing to learn that by 2030 business will look completely different than what we see today, according to the expert views of Mauro Guillen, Professor of Wharton Business School. He goes on to say in his best selling book ‘2030’ – How Today’s Biggest Trends Will Collide and Reshape the Future of Everything that businesses will move from a target group of syoungsters to the groups of elders and women to reshape their marketing strategies to address a new set of consumer behaviours. He cites the successful business concept of Airbnb that cater to two different target groups – the owners who are mostly 50+ as investors in properties and the travellers in mid 30’s as the group preferring to stay in such accommodation and explore the cities and locations.
Entrepreneurs of this decade is besieged with opportunities that will make them think out of the box to create products or services that capture the imagination of a new set of consumers.
THE PULSE by Sivakumar Gopal 