The Future of Business, The Future of IT…The Socially Enabled Enterprise
Enterprise of the Future
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Transcript of Enterprise of the Future
17 th National Convention of
The Institute of Management Consultants of India (IMCI)
January 21, 2011
Dilip M. SarwateProfessor Emeritus & Certified
Management Consultant
Enterprise of the Future
Of what?•Economy•Technology
•Polity•Any other?
Are you worried about the future?
IBM Global CEO Study
This presentation is based on a study of conversations with more than 1,000 CEO's and Public Sector Leaders
worldwide.
How research was conducted?The study was done in 40 nations around the world, 32
different industries, 19 % companies employing more than 50,000 employees and 22 % employing less than 1000 employees
Research is based on surveys of 1,130 CEO s, general managers and senior public sector and business leaders from around the world.
IBM leaders conducted more than 95 percent of these interviews face to face. The Economist Intelligence Unit administered the remainder by telephone.
The sample breakdown was Japan (121), Asia Pacific including India (248), European Union (364), Non European Union (39), North America (290) and South America (68).
Introducing the Enterprise of the Future
These findings — across industries, geographies and organizations of different sizes — paint a surprisingly similar view of the traits that we can believe will be needed for future success.
At its core,
Enterprise of the Future is …
Session IHungry for
Change
CEO’s foresee significant changes ahead. But their confidence in their ability to mange the change is
not nearly as high.
What are the major change drivers?
Who manages change better?
Implications
Accept change as a state of being. It will be the only constant
Hire, position and reward innovators and change leaders
Focus on delivering business outcomes
Operate like a venture capitalist
Session IIInnovative beyond
customer imagination
ImplicationsFind ways to make offerings relevant to new markets and increasingly prosperous consumers
Understand timing and network effects
Connect everyone to the customer. They are the best idea generators
Use technology to anticipate shifts faster than the competition
Session IIIGlobally integrated
ImplicationsIntegrate capabilities globally to differentiate
Build carefully calibrated global business design through Mergers & Acquisitions
Find and eliminate integration barriersGroom global leadersRecognize the importance of social connection within and across organizations
Session IVDisruptive by
nature
ImplicationsThink like an outsiderDraw breakthrough ideas from other
industriesEmpower entrepreneurs (Create
Intrapreneurs)Experiment creativity in the market,
not just in the laboratoryManage today’s business while
experimenting with tomorrow’s model
Types of Business Models
Enterprise model: Specializing and reconfiguring the business to deliver greater value by rethinking what is done in-house and through collaboration
Revenue model: Changing how revenue is generated through new value propositions and new pricing models
Industry model: Redefining an existing industry, moving into a new industry, or creating an entirely new one
Session VGenuine, not
generous
ImplicationsUnderstand Corporate Social Responsibility (CSR) expectations
Inform but do not overwhelmStart with greenInvolve NGO’s as part of the solution
Make work part of making the world a better place
Executive SummaryOrganizations are bombarded by change, and
many are struggling to keep up.CEO s view more demanding customers not as
a threat, but as an opportunity to differentiate.Nearly all CEO s are adapting their business
models, two-thirds are implementing extensive innovations.
CEO s are moving aggressively toward global business designs, deeply changing capabilities and partnering more extensively.
Financial outperformers are making bolder plays.
There is one more attribute evident in CEO’s
responses despite the challenges and issues it
faces.
The Enterprise of the Future is fundamentally
optimistic
What do we learn from this study?Rapid changes are observed in business,
technology and global marketsNeed to reinvent the products & services to
globally integrate and change the way we work with our clients, approach to R & D, workplace practices and way to run a company
Boldest plays pursuing the most global collaborative and disruptive business models innovation are outperforming peers.
Statistical and financial analysis will provide a unique perspective on the future of enterprise.
Proof of any leader’s decisions is in their outcomes
Is something missing?Yes
The Competition!
The Competitive EnvironmentCompetition will emerge from…Similar or substitute products/ servicesFrom organized as well as unorganized
sectorsFrom low cost economies like BRIC (Brazil,
Russia, China & India) and many other emerging economies like South Korea, Taiwan, Malaysia, Thailand and many others
It will necessitate investing in Competitive Intelligence
What is Competitive Intelligence?Competitor Intelligence: This will call for
compiling data on who is your competitor, what are his strengths & weaknesses, how does he react to your strategies and so on. This is called Competitive Reconnaissance
Competitive Intelligence: This will include all factors in the world and changes thereof which can affect your competitiveness.
Few examples include Kargil, 9/11 and 26/11.CI is futuristic, proactive and decision support
system (DSS)
One more thing that will be crucial. That is
developing a Global Strategy.
Remember Strategy is King
Developing a Global StrategyResearching the marketsDefining the target marketsEvaluating the competitionCompetitive positioningStrategic alliancesBrand buildingManufacturing efficiencyFaster innovationsEfficient logistics
Ultimately, what will matter is your
Competitive Advantage
A passive company will soon face Extinction
An adaptive company will manage to Survive
It is only a creative company which can hope for Phenomenal Growth.
This is going to be the Mantra for building your
Enterprise of the Future
Success will be yours
Use, re-use and keep on refining
Thank you&
Best of Luck