Experienced executives in many sectors will tell you that today they face their toughest business challenges ever. Even leaders in successful and well-established enterprises are concerned at what the third decade of the millennium holds for them. Lean new competitors are entering the market, they enjoy lower operating expenses and are using disruptive technologies to tear up the rule books.
To put some numbers on the threat, just wind the clock back 10 years to 2009. The High Street still dominated the retail sector, and Amazon and Alibaba were just irritants to bricks-and-mortar outlets. In Q4, 2009 Amazon’s stock price stood at US$118 per share. Today, says Jeremy Cowan, editorial director of IoT Now, Amazon’s shares are trading at more than $1,750.00 each, a growth of almost 1,500%. Yes, I wish I’d bought them too.
In the automotive sector, Tesla‘s market value (NASDAQ market cap) on December 6th, 2019 reached $60.5 billion, although it has never had a profitable year. Tesla wasn’t even listed on the stock market in 2009. In contrast, and despite making a profit of $8.01 billion in 2018, its US rival, General Motors was valued $10 billion lower at $50.8 billion. No one should imagine the markets are fair.
The EE: A new guide for ALL enterprises
So, faced with these threats how should enterprises (both mature and new entrants) navigate their way through such financial and market volatility? Can established brands re-invent themselves and their products to suit changing markets? And if so, how?
What tools should enterprises use to anticipate changing customer needs, devise new products and services, plan the product lifecycle, design swiftly, test and manufacture efficiently, deploy economically, monitor proactively, maintain cost-effectively, update remotely, and reinvent at end of life?
How are the disruptors overcoming barriers to entry and competing so effectively in markets that were once closed to them?
Can new players achieve the market scale, the reach and customer relationships they urgently need to offer radical new services at hitherto impossible price points? And if they manage all this, how can they maintain their advantages of agility and unencumbered creativity as their business grows?
As if all this wasn’t enough, the markets face additional uncertainties such as trade wars, global climate change, and regional issues like Brexit.
If you’re in unfamiliar territory get a Guide
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