top 5 trends in australian business
TRANSCRIPT
RUSSELL CUMMINGSSTRATEGIC BUSINESS DEVELOPMENT
SEPTEMBER 2015
Top 5 Trends in Australian Business
Doing Business in a VUCA World
V² = x VELOCITY
Trend Summary
ROBOTICS GLOBALISATION DATA CONNECTION CONVENIENCE
Trend #1 – Rise of the Robots▪Robots will not be “C3PO”▪Purpose built not retro-fitted▪Small and numerous ▪single or dual purpose▪Interconnectivity is keyWhy?▪to reduce labour costs, ▪increase productivity ▪improve safety & quality
Robots
Exo-skeletons Self-drive
Labour-saving Single Purpose
Key Questions
Assume robots are available, cheap to own & run:
▪ How will you use robots in your business? ▪ What tasks will you use them for?
Trend #2 - Globalisation▪ We have talked about this for the last 20
years – “It’s here!”Driven by: ▪ rapidly rising “middle class” incomes in
developing nations▪ Improved communication▪ Better packaging, transport and logistics▪ Relentless downward pressure on prices
and costs▪ Poor food safety standards in the
emerging economies
The Challenges▪ Opportunities for savvy marketers to
build strong brands but not everyone is capable – Brand & Supply Chain Alliances
▪ By 2030 there will be a global shortage of skilled labour with the trend growing from 2020
▪ This will put pressure on Australian businesses to attract and retain good quality people – you will need a clear strategy.
Key Questions▪ How can you position your business to
take advantage of emerging opportunities in Asia and India?
▪ How will you compete against foreign products and services?
▪ Do you have the capacity to build a niche brand or do you align with a “vehicle” that can?
▪ What are your strategies for attracting and retaining quality people in the face of a global shortage?
Trend # 3 – Data, data everywhereWe will see a proliferation of sensors and scanners to assist in collating data for the management of your business.
These sensors will integrate with each other (via Trend 3 - Interconnectivity) and will provide information on: finances, climate, weather, growth, quality, inventory, labour movements, machinery movements, resource usage, traffic, customer flow, customer recognition - you name it.
Data
Key Questions▪ What data will you require to make better decisions in your business?
▪ Who will collate and analyse this for you?
▪ What information would be the most valuable?
Interconnectivity is keyThe rapid expansion of technology driven by ubiquitous smart technology (phones, tablets), cloud computing and fast mobile internet means that all of our sensors, devices, computers and robots can be part of one large information system.
Integration with GPS services and mapping software like Google Earth is already passé, providing accurate real-time location for all devices.
Interconnectivity is key
Key Questions
▪ What processes in your business could you revolutionise by interconnecting scanners, robots, people and/or equipment?
▪ How will your customers benefit?▪ What would the benefits be to
you of leveraging this connectivity?
Trend #4 - ConnectionSavvy consumers are looking for stronger connections to their suppliers.
Social media can be a component of this but is not the main game.All your marketing must leverage each other – radio, social media, direct contactHow can you build stronger connections with your customers?
Promote your business
Networking
Broadcast1-on-1
You must have a 90
Day Contact
Program
The Challenge
▪ How can you build a relationship with the consumer?
▪ How can you align yourself with the values of your target market?
▪ How do you demonstrate that you are a good “Corporate Citizen”?
Trend #5 – Convenience
Your customers are:
Time poor Cash rich (relatively) Seeking life balance
How can you help them?
Expressions of Convenience
Key Questions▪ How will you support the
“Time Poor Consumer”?▪ What are the opportunities for
you?▪ Think: convenience, pack size,
service options, opening hours, delivery, DIFY, child minding, customised, tailored, etc
What is the key trend for you?
Robotics Globalisation Data
ConvenienceConnection
High Performance Business
Right Things Right
My Top 5 Business Growth TipsDevelop a clear strategy for how you will grow and survive:1. Understand your Competitive Advantage and
leverage your existing marketing activities to connect and improve convenience
2. Determine how you tailor or customise your offer for specific target markets
3. Improve your “People” attraction and retention strategies
4. Introduce Lean Thinking to your business5. Build your future business around a profitable
Business Model
More ResourcesWe will send you a link to copies of today’s PPT in the
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Russell CummingsBusiness Consultant
0414 929 [email protected]
www.sbdbusiness.com.au
Are you interested in growing your
business?
THANK YOU