When we think about forming a company’s strategy, there is only one direction to look: outward. What is the added value we can offer our customers to keep them loyal to our brand? Although this may sound simple, in changing times what products and services we offer and how we offer them is also in constant transformation, challenging companies to re-think business models in order to meet the changing standards, behaviors and tastes of our clients.
As Mark Johnson, co-founder and Chairman of the innovation-based consultancy Innosight, explained at this year’s World Business Forum Buenos Aires, the biggest challenge companies face is defining a model that “enables large waves of new growth to continue to allow your business or organization to thrive.” According to Johnson, the key to unlocking that growth is to understand how great business models work, and how you can transform your business to reflect those practices. Today companies have to contribute to the market products that are easy to understand, accessible, and even customizable. The business models of the past won’t lead you to such lofty goals—so the key to a successful strategy is developing one that is flexible enough to adapt over time. In the following we present some of the companies that have done so fortuitously—and are building a path to long-term profitability.
With enlightening webinars WOBI continues to offer live, dynamic, and content-rich opportunities to access the best of the business world directly from your desktop, hosted by a range of renowned experts. Last week Erich Joachimsthaler, CEO of Vivaldi Partners Group discussed his concept of “social currency” and the impact it is having on brand innovation and business growth. In the following, learn more about this term, the companies that are taking advantage of it, and the six aspects you should keep in mind in order to correctly use it.
Admired for her commercial vision and artistic eye, CEO Angela Ahrendts has taken Burberry to the top of the luxury market. WOBI's Lori Greene recently had the chance to chat with her in New York about the strategies she employed and the challenges she overcame in renovating the iconic 156 year old luxury fashion brand. Read some of the highlights of their conversation here…