Archive for the ‘Digital World’ Category

Technology Scouting and the Catch 22 of Innovation

Monday, October 14th, 2013

I came across what I would call the “catch 22 of innovation” the other day while working on a project that’s tipped to disrupt an entire industry.

Every major city now has the desire to become a smart city and to use digital technologies to provide better services and products for its citizens. However, as anyone who reads the news understands, the majority of this innovation in digital technologies is coming from small startups, not from the larger more established companies. One of the services that KeySo Global provides is technology scouting to large companies and for exactly this reason; they are not innovating broadly or rapidly enough, and are beginning to recognize the urgent need to partner with smaller startups that have the technology capability to enhance their more traditional offerings.

So the “catch 22”, as we see it in this context, lies in the request for proposal (RFP) / request for quotation (RFQ) process that cities use when looking for new technologies and solutions to meet existing needs. In most RFP’s and RFQ’s there is a statement that says “we are open to new ideas and technologies that will provide services to enhance the process or reduce the cost of providing those services”. However, buried deep within the RFP, under terms and conditions, is a sentence that also states “any company proposing a solution must have been in existence for at least 3 years, provide a list of existing clients and show financial capability to support the project through its anticipated life.” How many startups do you know that can meet these criteria?

The real drawback of this is that true innovation is unlikely to come to a city near you at any time soon. Of course there are ways around this dilemma but most of these are not straight forward. The technology scouting service we provide at KeySo Global can help by offering new and innovative startups the hybrid solution of partnering with more established companies so that together they can leverage the digital components needed for a thriving smart city infrastructure.

The process of scouting, filtering, evaluating and on-boarding technologies is crucial to an organization’s future success but it can be challenging as well as time and resource consuming at a time of restricted budgets. The option that we offer is to partner with a team that has successfully performed similar roles and created transformational processes at Motorola, Sony Ericsson and TRW. We offer a unique blend of experience, insight and proven processes to achieve this outcome. Our strategic review process and implementation framework enables us to rapidly partner with clients to successfully find, evaluate, acquire and on-board innovative technologies. A significant aspect of our approach is to help the startup and the established company understand one another’s’ mindsets. We use the “two weeks analogy” to help frame the fundamental differences in perspective of the two:  two weeks to a startup can mean life or death whereas to a large company it’s just a meeting!

Contact us  for more information and to find out how we can help accelerate innovation.

Steve Bell, President, KeySo Global

 

Wealthy in a Virtual Nation State

Friday, May 24th, 2013

Having lived and worked outside of England, my home country, for a total of 23 years – in Germany for 8 years and most recently for 15 years in the US – I’ve come to appreciate that the concept of the nation state is a very unique and real phenomenon but that most people don’t understand exactly what it is or how the digital world is forcing it to change.

A nation state is defined as a political unit consisting of an autonomous state inhabited predominantly by people sharing a common culture, history and language, and this concept dates right back to the treaty of Munster, Germany in 1648. Today, however, television, the internet and the expansion of mobile communications are forcing increased globalization of culture and language to occur, and as a result the original concept of the nation state is being constantly challenged and, in some cases, eroded.

If, like me, you have been fortunate enough to live and work in multiple countries, you cannot help but appreciate that each one has its own national workplace culture.  In a Financial Times article earlier this year about the cultural challenges faced by foreign CEOs, Rob Goffee of the London Business School identified that a key ability is to understand how to adapt without abandoning ones original values:  “the skillful executive balances who they are with where they are”. This has become especially relevant as an increasing number of executives from my home country are relocating to head up US based companies, and a wave of UK start-ups are crossing the Atlantic in search of broader market opportunities.  But just because we speak the same language doesn’t mean that it’s all smooth sailing!

From an early age,  Americans are taught self-advocacy and a strong emphasis is placed on self-belief. We Brits, on the other hand, are known for our self-deprecation (even extending to our sense of humor) and this can be a challenge for us in the US workplace. As Alex Kelleher, founder of Cognitive Match, was recently quoted as saying in an article in the Financial Times: “the market here (in the US) definitely likes the confident, self-assured “winner” approach… and while sometimes self-deprecation can be seen as endearing, it may not be ideal in a competitive environment over here”. I couldn’t agree more! I’ve come to realize that, in an increasingly globalized world, it’s very often the small, subtle cultural nuances that still exist but tend to be overlooked when businesses think about relocating, hiring or partnering overseas.

I was also reminded of an article by Adam Haslett that appeared in the Financial Times in 2010 where he identified that, as a Brit living in the U.S., he had “always felt a pessimist among optimists in the U.S. and as an optimist among pessimists in Britain”. In the past, I myself have experienced a sense of not belonging to any one specific nation, of being almost “mid-Atlantic”. Today, however, with the rapid and widespread growth of digital technologies across geographical boundaries, I now find myself experiencing a new phenomenon of living in a “virtual nation state” where language, cultures and political philosophies merge, and openness of thinking is the currency of success. I feel wealthy; not in financial terms, but because of the breadth of knowledge and the degree of perception and understanding I’ve acquired from experiencing different cultures, both first hand and “virtually”. The enviable challenge that I face is how to share this “global mindset” and enlightened world view with people who can make a difference. Perhaps self-deprecating humor really is the way forward!

Having worked in a variety of geographical areas across the globe, we at KeySo Global have acquired the flexible mindset needed to understand and adapt to the different business cultures that we have been part of. We are eager to share our experiences with you and help you guide your business through the often turbulent waters of overseas expansion. For more information contact us at info@keysoglobal.com.

Steve Bell, President, KeySo Global

Is Higher Education Set to Cross the Digital Frontier?

Tuesday, February 5th, 2013

Change usually only occurs when competing forces conspire to cause it or behaviors are adopted that necessitate it. Higher education and universities are ripe for change but they also have a tendency to resist it. These institutions have a long tradition of establishing prestigious courses and faculties, the cost of which in recent years has become prohibitive for the average student. The traditional model of students receiving instruction from and interacting one-on-one with learned professors has gradually given way to large over-crowded lecture halls, compulsory reading lists and standardized testing, as economics not excellence has shaped university education..

The impact that the digital age is having on everyday life is changing consumer expectations, and consequently challenging the established educational model. The widespread availability of wireless broadband, mobile devices, video lectures and online course material is facilitating the “massive online open course” (MOOC) which is accessible to large and diverse groups of students. The high cost of full-time education and the uncertainty of employment mean that many young people today are looking to work and study in parallel – and MOOC offers the ideal solution. It also supports those who are looking to supplement their existing education and skills and are more interested in gaining knowledge than qualifications.

Tablets and e-readers, according to McGraw-Hill, have the ability to transform not only the textbook and the individual educational experience but also the whole testing process. During a presentation at this year’s Consumer Electronics Show, McGraw-Hill described “LearnSmart”, their new adaptive technology program where a student reads a digital textbook on a tablet or e-reader and is asked a series of on-going questions that assess their understanding of what they have read. Subsequently their reading materials are adjusted according to their level of knowledge and understanding.  On this basis, a room full of students or an online group reading a text will all be receiving highly personalized and tailored instruction to help them attain the same required level of understanding. By tracking the results, answers given and also a student’s keyboard strokes it is possible to ascertain and validate their individual performance for the purposes of testing and certification.

The digital and online world is reshaping our cognitive capabilities and, according to some experts, using the Internet to search for information is causing us to “externalize” our memories rather than having to use them to process and store information. While enhancing our logical capabilities, the online world is also hindering our ability to develop the skills of empathy – an emotion that has apparently shown a decline in young people. Empathy is learned over time through social interaction and by reading others’ facial expressions, so if face time is replaced with Facebook time, the implications for enhanced interpersonal skills and moral decision-making could be significant.

One of the advantages of a traditional university education is that it enables young people to interact and develop social skills. In a recent article about Michael Bloomberg, Mayor of New York City,  it was pointed out that an average C-student attending Johns Hopkins University in the early 1960s – which he was – could be transformed into a social and political star through the interactions, experiential learning and networking skills that are an integral part of a four-year residential education. With increased applications for MOOC courses, the new digital educational environment needs to be reconsidered and other options need to be examined. These could include the utilization of enhanced virtual reality conference facilities that enable virtual face-to-face experiences and networking opportunities that supplement real-world social interactions.

Whatever happens, the shape of education and learning from pre-school through to university and beyond is likely to change dramatically over the next five years as the pace of technological progress continues to accelerate and people adopt it more readily into their lives.

Steve Bell, President, KeySo Global

www.keysoglobal.com

Consumer Electronic Trends to Watch – Live Report from CES in Las Vegas

Monday, January 7th, 2013

Shawn DuBravac,  Chief Economist and Director of Research for the Consumer Electronics Association (CEA) identified in his keynote address at the Consumer Electronics Show (CES) in Las Vegas yesterday four critical trends that will shape the future of the consumer electronics industry.

The Post Smartphone Era

Penetration of smartphones in the U.S. has surpassed the 52% mark but more significantly tablets have doubled their penetration in just 12 months, moving from 22% to 44%. In today’s digital world where multiple devices are commonplace in every household, these effectively act as hubs. They are mechanisms for accessing additional technologies, from door locks to health and fitness applications, and act as “second screens” for controlling security, domestic appliances, cars and TV’s. DuBravac referred to smartphones and tablets as “viewfinders into our digital lives”.

The Age of Algorithms

Prior to 2001 most information captured was analogue. With the continual reduction of cost for processing and sensors, more and more devices now have the capability to collect, communicate and share information digitally. In the U.S. there will be 350 million IP addressable devices sold in 2013 and about 1 billion worldwide. In reality, the cost curve of technology is enabling the “sensorization” of devices. The challenge in the future will be curating the enormous density of data-strings that will be generated as sensors proliferate.  Participating at this year’s CES are a record number of automotive companies, reflecting the growing interest of the industry in the role of sensors and connectivity. The fact that the Google car drove 300k miles last year and that Audi, Lexus, Ford and several others are focusing on this area of technology is an indication of how significant it could become. The Chairman of Continental has said that a driverless commercial solution is possible by 2025. In this age of algorithms, data is the new currency which raises ever more concern about security and privacy.

Contextual Connectivity

In recent years, the mood of the industry was captured by the advent of smart TV’s that could connect to the internet. Now the focus is on using intelligence received from sensors to make the interaction between the smart TV and the consumer more relevant and appropriate. One example is the use of cameras that monitor who is watching a program to ensure that appropriate advertising is screened when children are present; another are glass panes in store windows that display information tailored to the individual who is walking past that store, based on their smartphone details shared via social media, store card check-ins or through NFC payments.

Changing the Flow of the Story

The prevalence of “second screens” indicates that we are becoming digital omnivores who consume secondary information while watching a primary screen or previews prior to selecting a program. With household penetration of tablets and smartphones hitting 1.4 per household in the U.S. in 2012 (compared with 2.9 TV’s per household), the second screen is a real phenomenon.  In fact sales of small screen TV’s have declined 20 to 30% in the last 3 years. The concept that engagement starts on the second screen means that the paradigms for use-case scenarios are rapidly changing and need to be understood by the content providers, networks and advertisers. The story may not start on the big screen but when it reaches it the challenge is to maintain engagement and interaction on the second screen. Interestingly, sales of jumbo screen TV’s for main living spaces are on the increase in the U.S.

What becomes evident from these trends is that consumers’ rapid adoption of technology into their digital lives is changing their expectations and forcing business models to adapt accordingly. It appears that, even in the consumer industries, many large companies are being slow to respond and the bulk of innovative ideas and add-on products are being generated by hybrid start-ups.

Steve Bell, President, KeySo Global

www.keysoglobal.com

Catalyst Technologies and their Global Impact

Thursday, September 20th, 2012

In this third blog we look at the implications of the catalyst technologies we identified in our last blog, and determine why they have become so important. In his book “What Technology Wants” Kevin Kelly identifies that “the ever thickening mix of existing technologies in a society create any supersaturated matrix charged with restless potential”. We have written extensively about the digital world which is the combination of technologies that are shaping our world and digital life which is the effect that these technologies are having on everyday life. Kelly again reinforces our perspective when he says that we as a society are “symbiotic with the technology” and that as fast as we invent technology, we change our behavior and become dependent upon it.

Instant Markets

The current global economic turmoil did not come about by accident, but is in fact a consequence of today’s society being able to instantly communicate and share information. In other words society has changed behaviors and has become increasingly dependent on converged technologies. The use of internet trading platforms, for example, with Twitter users virally sharing the latest snippet of information is compounding the application of sophisticated trading algorithms (flash trading). The fact that the U.S. is now leading the way in the deployment of 4G mobile Internet makes the realities of the 2008/2009 Wall Street collapse pale into insignificance as the next wave of technologies facilitate “anytime, anywhere, anyhow” trading and speculating based on viral information.

Controls Lag

More recently the global LIBOR banking scandal, on top of the Euro crisis, points to the fact that we as an international society are struggling to come to grips with and learn what control mechanisms will work in this volatile and real-time world. Compounding this is the problem that we have not yet come up with a common language to document the necessary global beliefs and values that are required to guide policy regulation, monitoring and correction of this 24/7 digitally trading world.

Inextricable Interdependence

The U.S. has struggled to interpret the current rapidly changing and unpredictable global situation, mainly because it finds it hard to accept the fundamental changes that have been occurring on its own soil. A recent Financial Times article identified that the U.S. is now significantly more interdependent on the global economy than it was 31 years ago, at the outset of the shift to Digital Renaissance 2.0.

At that time, in 1981, the U.S. was a relatively closed and self-sufficient economy as measured in terms of trade of goods (import/exports) as a percentage of the U.S. gross domestic product. U.S trade represented only 21% of GDP and was made up of 10% exports and 11% imports. By 2012 this had grown significantly to approximately 32% of GDP – exports accounted for 14% of this and imports 18% – putting the U.S. on a par with the global average as an open economy.

Consequently the U.S. belief in self-reliance and independence now needs to be replaced with the realization, not only in terms of stock market indices but also as an economic reality, that it is inextricably tied to the Euro crisis, the emergence of the BRIC countries (Brazil, Russia, India and China) and the struggles in Africa.

Collaboration & Knowledge

The original Renaissance in Europe resulted in the disappearance of principalities and kingdoms, and ushered in the emergence of a nation state, which was followed during the industrial age with the emergence of overlapping market states. The question is how will the world evolve and will market states be the future societal organization? There are a number of theories about the organization of society going forward (Philip Bobbitt, David Ronfeldt, are two such theorists and this article compares their position with those of others). Regardless of which theory prevails, it is highly likely that in the world of Digital Renaissance 2.0 networking, collaboration and knowledge will be critical components of its underlying architecture. It also seems probable that global communities, digitally connected and potentially proactive, will coexist alongside and within hierarchical organizations, both in government and also in industry.

Ren 2.0 Man – Techno Artisan Craft Society

Digital Renaissance 2.0 was founded upon four enabling technologies and was exponentially accelerated by the catalyst technologies that released the restless potential of other technologies, such as cloud computing and Web 2.0. Ren 2.0 is now embracing a raft of emerging technologies, like NFC, voice recognition and kinetics, which are giving rise to business models not previously conceived. For instance 3-D printing is enabling designers / entrepreneurs to create new product concepts from digital files more rapidly and cost effectively than ever previously thought possible. Coupling this capability with global internet access and mobile commerce, Ren 2.0 now allows others to market this product concept globally.  Personalized products for the “market of one” are created by transmitting customized product specifications to printers anywhere on the planet and in close proximity to the consumer. To a large degree these hybrid technology and commerce systems facilitate the reincarnation of the craft society that got lost in the industrial age. These techno artisan craftsmen are in many respects the Digital Renaissance 2.0 men/women of the new digital era who are living, working and trading in global communities of trust, practice and purpose.

In prior blogs we have discussed the concept of “digital agents of change” and shown how critical this role has become in today’s digital business world. In some respects we all now need to become digital agents of change for the global society, or to use the words of Mohanda Gandhi “we must be the change we wish to see in the world”.

Steve Bell, President, KeySo Global

www.keysoglobal.com

What Spawned the New Digital Renaissance 2.0?

Saturday, August 25th, 2012

This article is the first of a trilogy in which we share some of the more intriguing aspects we have uncovered about digital technologies and the dynamic impact they are having on our business and personal lives. This first blog examines the unique origins of the new age Renaissance – what we call Digital Renaissance 2.0™ – and its impact on today’s global economy.

Previously, we identified the four “enabling technologies” (cell phone, PC, Internet, Walkman) that rocked the world and pointed out that they all emerged on the scene around the same time – 1981. We also pinpointed 2010 as a “year of convergence” when 3G, 4G and the Cloud all came together. It was only recently, however, that it became apparent to us that 2007 was the year that the “catalyst technologies” facilitated this convergence and, with it, the advent of the new digital age.

My colleague, Steve Benton, and I coined the expression Digital Renaissance 2.0™ (Ren 2.0™) to capture the concept that a fundamental shift is occurring in the way that information is now being accessed and shared. In the original Renaissance era, the enlightenment of Europe occurred due to the introduction of the printing press which led to the democratization of books.

During Ren 2.0™ the Internet has led to the democratization of information, now freely available to everyone – anywhere, anyhow and anytime – and as a result, the collective knowledge held by society is expanding exponentially, both actively and passively. The Internet has enabled information to become much more “transparent” as silos of data are shared between continents, countries and corporations, and on a significantly broader basis. This in turn has facilitated the global cross-pollination of ideas and concepts on a scale never seen before.

The four enabling technologies referred to above evolved rapidly and converged to facilitate the emergence of the Mobile Internet age. In our paper “Introduction to Digital Life Renaissance” (contact us to obtain a copy) we determine that this change is occurring at an unprecedented pace and show how it is touching all aspects of society, as well as governments and global economies.

The magnitude of these digital world changes in economic terms is captured in a chart we compiled that shows the global economy growing from less than $10 trillion in 1981 and accelerating to over $60 trillion by 2010. In a recent blog article in the Economist it was identified that between May 2011 and 2012 the global economy generated $65 trillion of trade (GDP), and that by September 2013 it will add a further $10 trillion to achieve a global GDP of $75 trillion.

The case can be made that global saturation of cellular and expanding penetration of mobile broadband access are primarily responsible for this rapid, worldwide distribution of information, which in turn is fueling economic growth at an unprecedented rate. Concurrently, this transformation is impacting the lives of individuals in developing and developed countries, and their awareness and expectations are growing as they become more exposed to vast amounts of new, previously inaccessible, information. As human behavioral patterns and methods of interaction change, so do their needs and requirements, which in turn are generating an abundance of new business and service opportunities.

It is our belief that the reinforcing cycle of continued innovation, based on the application of new digital technologies, is facilitating an increasingly interconnected planet which will, in turn, strengthen economic growth and favorably impact our digital lives.

Look out for our next two blogs in this series and find out exactly what the “catalyst technologies” are, what their significance is today and the powerful impact that they are going to have on our business and personal lives going forward.

Steve Bell, President, KeySo Global

www.keysoglobal.com

The Emotional Pull of Technology

Monday, July 9th, 2012

What could be easier than shopping for a cell phone, especially when you already know what you want? My wife had already decided that she wanted to upgrade her old Blackberry Bold so, being with T-Mobile, off we went to their store.

We wandered around, looked at and played with the two Blackberrys on display and asked a sales associate for advice. The youngster seemed technically competent but totally disengaged, probably having given the same spiel to customers a thousand times. It was obvious that, to him, our purchase was purely a transaction.

The Blackberry Bold was priced at $650 but as “loyal customers” we could purchase the phone for $360 with a $50 mail in rebate from T-Mobile. For this price my wife would have an upgraded phone with both touch screen and keypad, a faster camera, plus newer technology enabling the downloading and interaction with apps that hadn’t been possible on the older version. Ok, great – mission accomplished! I was getting ready to pay and leave.

My wife had other ideas. She was clearly not impressed with either the price or the salesperson. He had failed to connect with her and convince her that she was getting the phone she really wanted. She decided to “think about it”.

Our next port of call was the Target store. They hold wide range of phones – just no Blackberries. A very pleasant and competent salesperson explained that Target could no longer get hold of Blackberry devices. She empathized totally with my wife’s apprehension about transitioning to a large touch screen smartphone and explained that she herself had handled the switch over with remarkable ease. On her own phone, a Samsung Galaxy S11, she demonstrated with verve the swipe mechanism for texting, enthused about the high capability camera and beautiful images displayed on the large screen. She took time to answer questions and form a relationship with my wife, making the whole purchase exercise a fun and informative experience. Who would’ve thought that you’d find this degree of engagement at Target!

Ok, so what about the price? This was going to be the killer. As it turned out the Samsung Galaxy S11, after a trade-in refund for the RIM device and a loyalty discount for Target customers, retailed at … $137. That’s all it took to convince my wife – the offer and the phone were too good to resist!

So what are the “walk aways” from this experience?

  • Firstly, purchasing a cell phone is not just a technical sale; it’s an emotional one as well. Even when a customer’s requirements are clearly voiced, the engagement with this customer is crucial and can result in surfacing and satisfying unmet needs.
  • Secondly, RIM has a very hard job ahead if most retail stores do not have the product available to satisfy brand loyal purchases.
  • Finally, mobile operators had better start thinking about improving their retail business model and experiences to compete with Target-type competition; otherwise Vodafone’s proud boast in Barcelona at Mobile World Congress 2012 of being the 8th largest retailer in the world could very quickly transition a precious asset into an expensive embarrassment.

After much apprehension, my wife is now an avid fan of the larger, touch screen smartphone and after only two days of intense interaction, became a total convert. Who says technology doesn’t evoke emotions? Not me!

Steve Bell, President, KeySo Global

www.keysoglobal.com

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Digital Life – Rubber Band Forces that Prohibit Change

Thursday, June 21st, 2012

Why change at all? Why embrace what is new and intimidating instead of holding on to what is tried and true? The natural inclination of most people is to resist change, and when it begins to happen we tend to snap back to the shape of the things we know best, just as a rubber band that is stretched will revert to its original shape when released.

Digital Life is very new and can be scary. It is also here, now – right now – and is impacting the world in ways that can seem confusing, often even contradictory to what we have learned, accomplished, and know. Why would we want embrace it? 

Maybe your company actually can embrace the changes brought about by Digital Life. I mean really embrace change in ways that transform your business into a digital metamorphosis that propels it into this century; effectively reshape the rubber band by altering your business model to capitalize on the wide range of opportunities presented by Digital Life. However, I doubt it, unless you have some seriously sound “digital change agents” within your company to help you achieve this transformation, and unless you’re truly wanting to change.

Change is disruptive, which is what makes it so scary. Go back to your roots for a second. Think about those things that seemed exciting to you when you were willing to explore new ways of doing things, and those things that made you what you are today. What was new, intriguing – and yes scary – back then now seems safe. Your business faces the same challenges with embracing Digital Life that you faced growing up into the person you are today.

Digital Life demands that we embrace change and growth on a scale never experienced before. The advances and convergence of technologies are changing almost every aspect of how we do things. Smartphones, tablets, laptops and notebooks provide us with unparalleled access to the collective knowledge of the world. Social media tools and social networking sites enable an amazing new capability for us to share our own knowledge, interests, likes and dislikes with our friends, family and colleagues.

For your business to embrace the changes brought about by Digital Life, you need to accept – and convince others – that the shape of your corporate rubber band must change to match these changes. If you don’t, then no matter how hard you push for change and stretch the familiar boundaries, your employees will revert back to what they see as safe – in other words, the rubber band will snap back to its original shape.

At KeySo Global we have developed methodologies, models, and tools that can help you to change the shape of your business model so that it can adapt to Digital Life. These inform and guide you through a transformation that will propel your business into the Digital World, and ensure a competitiveness and profitability that will match your aspirations.  Please email us at info@keysoglobal.com, call us at +1-847-478-1633 or visit our website www.keysoglobal.com to find out more.

Steve Benton, Principal, KeySo Global, LLC

Digital Life – Is your Business Living in a Fishbowl?

Monday, May 7th, 2012

Ever feel like your business is swimming around and around in circles, like a goldfish in a bowl? Struggling to accomplish nothing much other than to search for an elusive pool of diminishing food?

Shrinking margins, a downtrodden economy, a rapidly transforming Digital World, and increasing scrutiny from those outside of your company’s fishbowl are all contributing to the “fear factor”. The fear factor is a knee-jerk reaction to these challenges and the common response is to cut costs, reduce headcount, and to lay off people as you cut production or business lines.

Over the past few years we have seen this reaction in nearly every industry. That is the primary reason unemployment is so high and yes, spending is lower by customers who are also driven by their own fear factor – not being able to pay the bills, their mortgage, or put food on the table.

And yet sales of mobile devices such as smartphones and tablets have continuously risen during this period. Aspects of Digital Life have flourished – more people than ever have accounts in social media venues such as Facebook and Twitter. Consumers are more conscious about what they spend their money on – but they are spending and willing to spend.

Perhaps if companies weren’t so concerned about cutting costs and were more focused on what products and services their customers are really willing to purchase, the emphasis on lay-offs and cutbacks could be shifted to providing Digital Life products and services that help their customers live a better life. Unemployment would go down, spending would go up and the goods delivered to consumers would begin to reflect their real wants and needs.

To understand how your business might escape the proverbial fishbowl and evolve to a Digital Life model that overcomes the fear factor, contact us at KeySo Global and register for a free diagnostic interview with our industry leading experts. Please email us at info@keysoglobal.com, call us at +1-847-478-1633 or visit our website www.keysoglobal.com.

Steve Benton, Principal, KeySo Global, LLC

Five Essentials for Business Success in the Digital World

Friday, April 13th, 2012

Digital technologies are forcing an unprecedented pace of change for business. If you don’t get on board now, you risk being left behind! To determine whether your business is on track to becoming a Digital Business, you need to ask these five questions:  

 

 

  1. Do you proactively monitor the industry changes that are affecting your business?

Use web based tools to help track the impact that converged technologies are having on all aspects of your business, such as customer behaviors, new suppliers, technology trends etc. This approach will give you a holistic perspective of your industry and enable you to identify strategic options ahead of your competition.

 

  1. Do you encourage collaborative behaviors within your organization?

It is crucial that your company provides the tools and environment that enable the sharing of knowledge and information in order to tap into one of its most valuable attributes – the tacit knowledge of your employees.

 

  1. Do you regularly engage with communities external to your company? 

It is essential to adopt a digital mind set and rethink how your business can more effectively engage (interact, listen, learn and co-create) with the rapidly growing collective knowledge base outside of your company in order to understand changing customer requirements, generate new ideas and gain important feedback.

 

  1. Do you disrupt your business model?

Traditional business models, tools and methodologies do not adapt well to the opportunities and threats encountered in today’s digital world. First you need to understand how the individual elements of your existing model work together and then take full advantage of digital technologies to create a disruptive new business model – before your competition does it for you!

 

  1. Do you inspire your employees to bring innovation into the workplace?  

You need to encourage your employees to leverage the mobile and social technologies that they use in their everyday lives to generate innovative ideas that will enhance, simplify and accelerate the business processes within your company.

We at KeySo Global have developed frameworks and tools that can help you rapidly adapt to changes in the digital environment. We have assisted companies by designing and implementing development programs that produce dynamic digital strategies. Contact us at 847-478-1633 or info@keysoglobal.com  to set up an initial meeting and we’ll help you discover your digital path to success!