Disrupt or be Discarded: Rethinking your Business StrategyImagine being the CEO of a highly competitive and successful
Disrupt or be Discarded: Rethinking your Business Strategy
Imagine being the CEO of a highly competitive and successful $9 million business, with contracts with a number of corporations. One of your customers decides to restructure its vendor program by eliminating all vendor contacts with a high-risk profile—a company with over 25 percent of its overall business invested with another business. Because your company has 50 percent of its business with this particular corporation, this could put you out of business within six months.
You are probably thinking, “Oh, no! We’re screwed! What do we do?” But, after a few tantrums, your thinking turns into active, problem-solving mode. You say to your leadership team, “We need something that truly differentiates us from our competitors, fills in the gap of this business loss, and positions us to be successful in the future. Our strategy needs to be a disruptive transition.”
What Is Disruptive Transition?
Disruptive transition is a disturbance that interrupts and changes from one state or condition to another, creates a new market and value network for businesses and encourages change.
DP ExchangeA combined print, online and multimedia package to help orga
A combined print, online and multimedia package to help organizations market capabilities and strengthen brand awareness.
Armed with an expansive, innovative vision for supporting businesses in need of marketing solutions, Nino Campos has enlisted the talents of three women-owned businesses to bring his vision to fruition.
Diversity Professional has joined corporate video production company Rep Interactive and Brojure, a leading content creation software company, in a collaboration to create one-of-a kind marketing packages for other diverse businesses.
Through the collaboration, Campos presents suppliers in a combined print, online and multimedia package to help them market capabilities and bring brand awareness to their organizations.
Creative Collaboration Aims to Innovate Marketing for Diverse BusinessNino Campos, supplier diversity manager for Oracle®, has an
Creative Collaboration Aims to Innovate Marketing for Diverse Business
Nino Campos, supplier diversity manager for Oracle®, has an expansive, innovative vision for supporting businesses in need of marketing solutions. And, he has enlisted the talents of three women-owned businesses to bring his vision to fruition. Diversity Professional will join corporate video production company Rep Interactive and Brojure, a leading content creation software company in a collaboration to create one-of-a kind marketing packages for other diverse businesses.
Campos noticed that many diverse companies weren’t making a sufficient impression on procurement managers and supplier diversity professionals in matchmaking sessions. As a result, they weren’t securing the contracts that they desired. As a die-hard believer in first impressions, he figured a better way to engage these decision makers was through video or something very creative and innovative.
Each of the companies brings a unique skillset to the project. Rep Interactive is a an award-winning video marketing and production services agency that has created hundreds of video projects for Fortune 500 companies and government organizations since 2009. The full-service creative content studio is based in Los Angeles, San Diego and Morristown, New Jersey.
Since 2015, Brojure has provided content creators with a fresh, dynamic way to grow business. The company’s smart brochure gives organizations a new solution for building awareness, connecting with clients and establishing relationships.
And, Diversity Professional is rapidly establishing itself as one of the leading entities to engage, inspire, celebrate, educate and connect diverse professionals and entrepreneurs to opportunities.
Through the collaboration, Campos wants to provide opportunities by showcasing businesses in the most attractive and creative way imagined. Every effort will be made to create a one-of-a-kind prestigious and professional presence in a well-designed and innovative package to compliment themselves, their business and industry.
The goal of the partnership is to maintain the highest standards in advocating with passion and originality to empower opportunities by innovating visibility.
“My goal is to empower and inspire opportunities for those that are passionate and have the courage to be innovatively visible in a millennial world,” Campos said.
You can read more about this collaboration and profiles of the companies involved in upcoming issues of Diversity Professional.
Disrupt or Be DisruptedKeep Your Competitive Edge and Digitize! Lately, it feels as
Disrupt or Be Disrupted
Keep Your Competitive Edge and Digitize!
Lately, it feels as if every business is going digital. We live in a time where cars are driving themselves robots are cleaning our houses and believe it or not, bots—or intelligent computer programs—are autonomously writing newspaper articles (not this one, though).
So what is digital? It initially struck me as a somewhat dated term. Over the last 30 years we’ve seen digital watches, digital calculators, digital cameras and other “digital” devices. It’s 2017; what’s different? New technology megatrends such as mobile devices, cloud computing, social media, and the Internet of Things (IoT) have dramatically changed the business landscape. Today, the big traditional players are being disrupted by nimble startups across every industry. According to a study by Digital Vortex, 40 percent of incumbents are at risk of being displaced in the next five years. The question is Will you disrupt or be disrupted?
Build a Solid Foundation for Digital
Digital transformation requires end-to-end changes, in both your organization and your technology. To be ready for the digital age, your people will need to redefine processes and, in many cases, build new skills before they can fully embrace new technologies.
One essential element of your digital strategy must be your network. Although it is invisible to most of us, the network becomes more relevant in the digital era. The network is the common element and the foundation that enables us to connect anywhere, at any time and from any mobile device or thing. It also delivers meaningful inputs through big data—large amounts of data that are analyzed to deliver valuable insights such as customer behavior trends and product sentiment. These insights are perfect for the retail world, but data-driven insights can apply to any industry: healthcare, manufacturing, and others.
As we become more digital, we face more risks by opening up sensitive information into public cloud and Wi-Fi environments. In many ways, this is a double-edged sword because your workers expect information to be ready at their fingertips. However, at the same time, the network needs to shield your business from cyber security threats. This can be done by enforcing who has access to the information and how they access it. Deeply and automatically inspecting applications for threats at the network level will protect your users, your intellectual property, and your reputation.
Focus Areas for Digital Transformation
To break this down, we typically look at three main areas:
Delivering new customer experiences: Like everyone, I’m busy, so when I go to my favorite coffee shop, I cut my wait time by ordering from an app on my phone. I save time and earn points for every purchase. This makes the coffee shop happy because they can serve more customers and, more importantly, they use the transaction data to tailor offers and create customer loyalty. This is real business value.
Transforming processes and business models: I live in Virginia and can’t recall the last time I raised my hand to hail a taxi on the street. I used to do this all the time while growing up in Brooklyn, but now it feels like a relic from a bygone era. The taxi industry was totally disrupted by digital transformation. When Uber, Lyft, and other companies began expanding globally, taxi companies did not foresee the digital shift, and many are now left behind, stuck in an antiquated business model.
Empowering workforce innovation: I see more and more companies, just like the one I work for, deploying collaboration and security technologies to increase innovation, productivity, and satisfaction by providing workers a better experience. It’s no longer only about how much you get paid for your work or if you have a kitchen stocked with snacks, it’s about what tools you can use to do your work with the highest levels of engagement and flexibility.
The Sky is the Limit
You might say—“This all seems very technological, but not all companies are from the technology industry, and I’m not a geek. How can I benefit from the hype around digital transformation?” Research by the authors of “Leading Digital: Turning Technology Into Business Transformation” shows companies that master this transition to digital will not only drive more revenue, but will be 29 percent more profitable on average. The companies that succeed in tomorrow’s world will be the ones that embrace technology and software to create new ways to engage their employees, partners, and customers.
Imagine: What will digital transformation do to your business? How will you innovate and adapt business processes, deliver better customer experiences and improve your workforce efficiency? Digital really levels a lot of playing fields, allowing smaller companies to compete in the big leagues and win!
Done right, digital transformation can have dramatic benefits, ranging from immensely improving the bottom line and overall customer experience for a business, all the way to disrupting an entire industry.
Hopefully, you’ll start to believe your company is a technology company, no matter which industry or vertical you are in. There’s never been a better time to reimagine your business. How are you going to transform?