Many companies are looking to regenerate positive momentum. The business conditions we face are clearly not for the faint of heart. The times are daunting, volatile, and uncertain. Uncertainty makes planning harder to do, but more important.
For the last 20 years, planning was relatively easy. Economic trends were positive, steady, and predictable. It was a time of optimism in the technology and equity markets. The Internet frenzy was in full swing, and many believed that the tech sector was immune to downturn. Traditional assets were viewed as a liability. Virtual companies flourished, unencumbered by the economic rules other businesses had to live by. The promise appeared unlimited.
Reality, however, intervened with the economic and market downturn in 2001. Many business leaders paused, reflected, and decided to trek back to solid ground. Perspective on the Internet, too, clearly changed. But just as the most vocal advocates of the Internet were guilty of overstatement back then, so too are today’s doomsayers. The Internet has made a lasting impression on our personal and our business lives.
- Interactive capabilities can be leveraged to develop new value propositions segmented to specific customer groups.
- Online capabilities allow customers greater choice, flexibility, and control over how they wish to be serviced.
- Overall servicing is more efficient. As more customers choose to work online, our people can focus on actions that add value to the customer’s experience.
Today’s winners will have the greatest flexibility in their technology, infrastructure, and business model. They don’t just respond to change, they embrace change and become better and stronger.