4 Ways to Build Your Business Ecosystem and Why It Matters

The  Dubai Business Fax List Red Queen is a character from Alice in Wonderland . Do you remember her? This is the character who runs faster and faster but stays in the same place (competitive). It’s an apt metaphor for many – or most – organizations that recognize they need to do something differently because, after all, technologies evolve, markets evolve and customer expectations change. But what to do differently ? Transform, of course (a fancy word for investing in digital, innovation, IoT, AI or whatever is the shiny new thing du jour). Why? Because everyone is. And therein lies the problem. Let’s be realistic. If everyone invests in the same technologies in the same way, what will be different in three years from the perspective of the red queen? Our competitive landscape has changed for good.

Economic Profit Accrues to the Top Quintile

Economic profit accrues to the top quintile in a “power curve” model, leaving more than 85% of organizations struggling for incremental improvements in an increasingly worse position against market leaders in an increasingly win-win. . Digital transformation, the hoped-for solution to change its competitive position, struggles more than 75% of the Dubai Business Fax List time to achieve its objectives. Frankly, what made organizations successful in the. Dubai Business Fax List past is not what is needed to be effective in the future. A senior executive at a national insurance company realized this, which sparked an ah-ha moment for him. The core asset (set of capabilities) of an insurance company is how it assesses risk. “What happens,” he asked, “when our core asset shifts from risk pricing to accident prevention.

He Acknowledged That “what Has Always

Dubai Business Fax List

He acknowledged that “what has always driven our value to our customers will change…because the capabilities needed to assess risk are completely different from those to prevent accidents. A quick takeaway from this anecdote is that doing more of the same thing, just faster and cheaper, won’t work over time. Trying to outrun everyone who is Dubai Business Fax List also investing in digital transformation and the latest and ever-changing technologies forces you to run the race of the red queen, based on the principle “We will outperform” everyone else. It’s a strategy that may work for a while, but not over time. So what are you doing? You look at the lessons of high-growth companies, those that have cracked the code not just for high growth but, more importantly, for high economic profit and multiples that far outstrip their competitors.

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