“Study the past if you would define the future” – Confucius
Since the year 2000, 52% of the Fortune 500 have been replaced by newer companies and upstarts according to Constellation Research.
Pause and think about that for a moment. Is your business safe?
As the pace of change hastens, more businesses will get disrupted. Forrester calls it digital disruption. Economists have called it creative destruction. Whatever you call it, no business is immune. In such an environment, how do you survive?
Mariner recently hosted an Executive Roundtable discussion centered around this topic. The slides of that event are posted below.
Here are some ideas that stood out from that event:
1) Automate. You can run a leaner, faster and more responsive enterprise by automating everything from workflows to decision making. Perhaps the biggest opportunities lie in automating operational decisions using Decision Management (DM). Automating decisions don’t just cut costs but they add velocity and precision to your operations.
2) Re-platform. If the history of business (and war) has shown us anything, it’s that the side with the most advanced technology wins. In recent years, the technologies driving business productivity have morphed yet again. Social, Mobile, Analytics (Big Data), & Cloud, sometimes called the SMAC stack, are driving the next wave of innovation.
3) Focus on customer experience. According to Accenture, “while most organizations continue to be internally focused on cost, productivity, and processes, high performers foremost objectives, are related to improving the customer’s experience.” This focus, in turn, implies a heavy dose of design thinking while formulating solutions. It also implies that you focus less on products and services but on customer experiences & outcomes.
If you are focused on results and need help with automation, re-platforming using the SMAC stack, or design thinking to solve business challenges, please contact us.