Navtej Kohli brings Mckinsey’s interesting business trends
Mckinsey has given eight interesting business trends to watch. Here on Navtej Kohli business blog is a synopsis of the same. However, for your reference, the detailed version is available at the Mckinsey’s website (http://www.mckinseyquarterly.com/).
Read on to know how these trends can benefit business and IT sector.
1. Distributing co-creation
2. Using consumers as innovators
These are old strategies. Usual story about Linux and user generated content. The ‘consumers as innovators’ cites the case of a T-shirt manufacturer leveraging user talent / creativity to create new designs. But I wonder if it can help an IT company in same way. How is an IT company going to leverage user generated strategies?
3. Tapping into the world of talent
Now this is quite interesting. Business and IT are most of the times fighting. Business, on one hand, alleges that IT is not delivering enough value, IT, on the other, claims business people don’t know what they want and they keep changing their minds. Most of the time, the issue is simply a case of IT holding business hostage. Let me explain. In most organizations, the IT department is usually is the sole provider of IT services. Business does not have a second “service provider” to turn to. As classic economic theory predicts, with no competition, IT’s service quality declines. Businesses should be allowed to engage several service providers.
4. Exacting more value from interactions
5. Expanding frontiers of automation
6. Separate production from delivery
I wouldn’t be surprised if Google or Microsoft starts doing this in a big way. Amazon has led this field by letting companies tap into its big investments in IT. EMC has announced their own move into the “cloud”
7. Putting more science into management
8. Make business from information
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