Winning consumers with a forward-looking operating model

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(First of two parts)

General Manager ofIfLeaders of global consumer products companies face the challenge of transforming their organizations at a rapid pace to ensure they remain relevant to evolving consumers. Part of this challenge is to strategize and deliver multiple business models and proposals quickly, but due to time and cost constraints, CEOs cannot create a new operating model every time something new needs to happen. be done.

This requires more agile, responsive and resilient ways of working that will allow consumer businesses to pivot overnight if needed. In fact, according to a recent global C-Suite survey commissioned by EY from MIT SMR Connections, Being ready for the future: Challenges and opportunities for today’s consumer products companies, 86% of C-Suites surveyed said transformation was key to being ready for the future. However, the study also revealed that there is great uncertainty about whether leaders are keeping the process of continuous change in their organizations on track.

How products, services and experiences are valued is being driven by changing consumer perspectives, while technology is key to enabling new ways to buy and interact with products. Technology is also what redeIfnes the type of value propositions that companies can offer consumers, as well as the way in which these proposals are delivered. There are growing options in how companies can design, create, market, combine, package and deliver their products and experiences to bring them closer to the consumer than ever before, thanks to technology capabilities in data and intelligence. ‘analysis.

CEOs will need to apply a transformation mindset and create a C-Suite program that reflects the new reality of things. With the pandemic highlighting uncertainty and the urgent need for technological change, these factors and many more have already changed every aspect of a consumer’s life and will continue to do so. Their needs, expectations and behaviors have evolved in ways that challenge old ways of working and the companies that propagate them.

Current times require businesses to be agile, responsive and resilient. These characteristics can be incorporated into a business by applying IfFive interconnected design principles for CEOs to follow to lead systemic transformation and prepare for the future.

the IfThe first part of this two-part article will discuss Iffirst two principles: being part of vibrant business ecosystems and leveraging data and analytics with the data factory.

BE PART OF DYNAMIC BUSINESS ECOSYSTEMS
Companies that operate vibrant business ecosystems are better positioned to drive capitalIfefficiency and innovation that create long-term customer value. It becomes imperative to have a good understanding of ecosystems to stay ahead of the pace of change, especially in anticipation of potential disruptors.

Those who participate in business ecosystems are more likely to create increased value in a group than they would individually, putting companies unable to adapt at risk of falling behind. By embedding ecosystem models into the structure of their value creation strategy, consumer companies can more effectively navigate the digital space and generate customer value faster.

A previous Suits the C-Suites article, How to Win Asia-Pacific Consumers in the New Erafound that digital business ecosystems have emerged in recent years to allow companies to complement and offinterconnected products and services in a singular integrated experience. This can already be seen in the super apps consumers are familiar with today, with local examples such as ride-sharing apps with extended services that include on-demand shopping assistance, food delivery and even bill payment functions.

BUILD ON DATA AND ANALYSIS WITH DATA FABRIC
Businesses face more pressure than ever to become data-driven, as leaders understand the value of data and use it to generate valuable insights. While a responsive organization that is driven by data and analytics empowers CEOs to make timely and informed decisions, prioritizing analytics is not enough. The data fabric, a set of independent services brought together to provide a single, focused view of business-relevant data across all sources, will be needed by many large enterprises to operationalize data to process specific data.Ifc challenge and innovate.

Digital networks and their data streams serve as the connective tissue and nervous system that allows the ecosystem body to function by integrating disparate data sources. The data structure connects the threads of information across an enterprise, delivering short-term value with a long-term transformation strategy. It is not designed to collect and store information, unlike data warehouses, and there is no need to replicate data or start from scratch when searching and aggregating.

Using the Data Fabric approach, data is integrated into useful formats that allow for maximum reuse. It enables sharing, portability and governance by interweaving strands of structured and unstructured data to form a consolidated view made available to users in formats they can use and in terms they can understand.

In Part 2 of this article, we discuss the remaining three key design principles needed to foster agility, responsiveness, and resilience: encouraging talent flexibility, innovating at scale, and embedding a goal-driven strategy in all facets of the organization.

This article is provided for general information only and does not replace professional advice when the facts and circumstances warrant it. The views and opinions expressed above are those of the author and do not necessarily represent the views of SGV & Co.

Maria Kathrina S. Macaisa-Peña is a Business Consulting Partner and Consumer Products and Retail Industry Leader of SGV & Co.

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