I was recently featured on CanadaOne.com. In the article I talk about the leading technology trends that will transform your business.
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Posts Tagged ‘Business Strategy’
A Look at Technology Trends that are Transforming Business
The Opportunity In Disruptive Technologies
If you asked CEOs what keeps them up at night, the majority would say it’s the potential impact a new disruptive technology can have on their company. They’ve seen disruptive technologies change industries and put companies out of business fast. They’ve also seen it put companies out of business slowly (think Kodak or Motorola).
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Should I Stake My Claim in the App World Now?
If you look at the types of apps currently available in the app stores, you can see that most of the companies developing apps are focused more on the present than the future as they design their apps. The majority are creating simplistic and basic apps that don’t take into account a broader set of present and future needs and that certainly aren’t designed as enterprise level apps.
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What Are The Apps of Tomorrow?
While creating apps with a mass-market appeal is good (such as apps for organizing files or creating action lists), few companies are thinking about the evolution of apps and what the next generation of apps will be.
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Is an App Necessary For My Business?
No one can deny that the original telephone Alexander Graham Bell invented in 1876 has changed significantly. From a luxury item proudly displayed as the centerpiece of the home to something small, portable, and powerful that people keep within arm’s reach 24/7, the humble telephone has evolved into a mini personal computer capable of much more than traditional voice phone calls.
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Continuously De-Commoditize
Look at every product and service you have and ask, “Why is this item a commodity?” Then ask, “What can we do to make it different?” For example, look at the features and functions of your products, how things are housed, how convenient the product or service is, what the customer experience is like, how something is processed or made, etc.
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Decommoditize by Identifying New Needs
No matter how mundane your product or service is, chances are people have different needs around it today than they did a few short years ago. As the world, economy, and culture changes, so do people. Their reasons for buying something yesterday may be different from their reasons today. As such, you need to always be looking at what your customers’ current needs are and then find ways to de-commoditize your product accordingly.
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Follow Trends To Decommoditize Your Product
Pay close attention to the trends going on in your industry and with your customers. Based on current trends happening, what future trends can you identify? If you can accurately pinpoint where your industry or customers will be in the next few months or years (or what your customers will want), you can de-commoditize your offering and get that business.
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Make Your Commodities Stand Out
No matter what industry you’re in, chances are you have a few products or services in your line that are commodities. From food and beverage items to household products to daily services, commodities are everywhere and make bottom line profits harder and harder to attain.
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Always Take Competition Seriously
Look at the specific ways in which you compete in the marketplace as well as what makes you unique. Then decide how technology can redefine the way you compete. For example, when was the last time you bought something from the Polaroid Company? At one time, they were the king of instant photography. But then technology and digital photography changed their industry, and the way they competed (instant photography) changed…but Polaroid didn’t change with it.
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Take a Moment To Understand How Technology Is Affecting Your Customers
Look at how technology is affecting your customers in your industry right now. But don’t just look at productivity. Look at the overall customer experience as well as who is buying your offerings.
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