Challenges for Businesses in the 21st Century
I was reading an article on the greatest challenges for business in the 21st century. It talked about operational excellence, quality and cost control, talent acquisition and retention, being employee and customer focused among other things.
If you ask me, the most important thing that should worry companies of the 21st century is that ‘THE CUSTOMER KNOWS TOO MUCH’. Same is the case with your employees. If you think about it, companies have always been thriving on the information asymmetry that existed between them and their customers and employees. For example think about the(ir)relevance of wage negotiations , about the sales guy’s black book (which contains the costs of his product and helps him during bargaining with customers) in an information symmetric world.
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6 comments:
Again, nice thought. But isn't it also true that 'Too much information is a demon'? As a customer, I have too much information from too many sources that I dont really know what I need and what I dont need. And I probably dont have all the time in the world to deliberate on it.
Maybe for large purchases like an ERP solution, I might consider investing time in research on the product. But for something small and innocuous? Maybe information will help make the margins become lazer thin - but again, that helps improve operational efficiency and drives growth in cycles?!
But information assymetry is perhaps the name of the game.. well said.
Yeah its true that too much info is a demon. But I beleive that in the future, there will be busiesses which will releive customers of this pain and deliver the right info to the right customer at the right place exactly when they require it.
For example if you want to know the industry average cost of producing a pencil, you will get that info on your blackberry with just a query. Just imagine the bargaining power you get if you have this info when you are haggling with your stationer regarding pencil prices.
Your views pertaining to Marketing are stunningly different and present the reader with a pleasant experience of having gone thru something different from the commonplace. I will make sure that I check your blog at least once in two days to see and appreciate your fresh perspectives.
The blackberry analogy sounds awesome. And I assume that everything would be taken care of by the "Do No Evil" company?! :-)
I suggest you tighten your comment filtering a little, lots of spam here.
I mean, how hard can it be to just be spontaneous. It is. And sometimes you just can't post random shit like this.
I don't have a website yet, but I'm planning on starting a blog like yours, any tips?
It's actually a pretty funny story what happened after I drank mushroom tea. I started posting random comments.
Tell me what you think, Captain, I'm all ears
Spock
i love reading this article so beautiful!!great job! Eric Samek Brasa Capital
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