prtk.nayak
Prtk Nayak
The strategic and operational challenge that Businesses which depend heavily on software today is that Software is not static. Every facet of business that software touches upon is in fact constantly changing.
This reality introduces new competitive dynamics and managers have to be continuously on their toes to not let competition leapfrog them and maintain the competitive edge.
For players who need software at every point of doing business, some steps need to be followed and some thought leadership is required to maintain the distinctive advantage that companies have over each other.
1. Moving from products to platforms.
Many companies still believe and adhere to business models of the past where product development is an "in house" thing. But some, like consumer-goods giant P&G, have flung their doors open to include a wide range of partners in developing and tailoring the next big thing. Instead of “not invented here,” the mind-set is shifting to “proudly found elsewhere. By opening innovation processes to outside voices, organizations not only gain a broader range of perspectives to enrich the innovation gene pool, they also gain valuable scale—more resources at a fraction of the price.
2. Accelerating Revenue by creating new business models.
Innovative companies are experimenting with ways to combine product, services and data to come up with completely new offerings and value proposition. e.g Nike+, a sensor compatible with Apple IOS helps understand the running habits and track mileage to manage workouts. Thus more and more companies are using information which is a by product of their normal products to come up with completely new offerings.
3.Accelerating Cycle time and co-creating with customers
Empowered with constant connectivity, the rise of social networks, companies are increasingly using the feedback of their customers to develop and release new products faster. This is helping companies to shorten cycle times and shorten learning curves by testing their products with customers using mockups and simulations. The kind of intelligence generated through this is not only high on quality but is also low on cost and time taken.
4.Creating an agile organization.
In the future, though, it’s clear that accelerated cycles, increased transparency, and teaming outside the typical organizational boundaries (both within and outside the company) will have great impact on how executives organize and manage their teams. Rypple, for example, is a software platform that allows companies to take a new approach to HR management and performance evaluations by using ongoing feedback, more public recognition, and social goals such as more dynamic team or individual objectives that change or evolve organically rather than through an annual top-down process.
This reality introduces new competitive dynamics and managers have to be continuously on their toes to not let competition leapfrog them and maintain the competitive edge.
For players who need software at every point of doing business, some steps need to be followed and some thought leadership is required to maintain the distinctive advantage that companies have over each other.
1. Moving from products to platforms.
Many companies still believe and adhere to business models of the past where product development is an "in house" thing. But some, like consumer-goods giant P&G, have flung their doors open to include a wide range of partners in developing and tailoring the next big thing. Instead of “not invented here,” the mind-set is shifting to “proudly found elsewhere. By opening innovation processes to outside voices, organizations not only gain a broader range of perspectives to enrich the innovation gene pool, they also gain valuable scale—more resources at a fraction of the price.
2. Accelerating Revenue by creating new business models.
Innovative companies are experimenting with ways to combine product, services and data to come up with completely new offerings and value proposition. e.g Nike+, a sensor compatible with Apple IOS helps understand the running habits and track mileage to manage workouts. Thus more and more companies are using information which is a by product of their normal products to come up with completely new offerings.
3.Accelerating Cycle time and co-creating with customers
Empowered with constant connectivity, the rise of social networks, companies are increasingly using the feedback of their customers to develop and release new products faster. This is helping companies to shorten cycle times and shorten learning curves by testing their products with customers using mockups and simulations. The kind of intelligence generated through this is not only high on quality but is also low on cost and time taken.
4.Creating an agile organization.
In the future, though, it’s clear that accelerated cycles, increased transparency, and teaming outside the typical organizational boundaries (both within and outside the company) will have great impact on how executives organize and manage their teams. Rypple, for example, is a software platform that allows companies to take a new approach to HR management and performance evaluations by using ongoing feedback, more public recognition, and social goals such as more dynamic team or individual objectives that change or evolve organically rather than through an annual top-down process.