40% of S&P 500 Businesses to be Gone in 10 Years: How to Avoid Joining the Business Dinosaurs
Jared Staniland and Darren Young take a closer look at these predictions and asks the question of what it means for Australian private and public sectors.
It is an alarming statistic. Innosight estimates that four out of every ten S&P businesses will no longer exist in a decade – some the result of takeovers, the rest fading into oblivion. Already, household names are disappearing. And we are seeing exactly the same trend here in Australia – with companies like Dick Smith, Grace Bros and the branches of Adelaide Bank no longer existing. Others, sensing the danger, are taking a bold approach and reinventing themselves for the modern era.
How do organisations prepare themselves to thrive on the chaos?
1. Know who you are
In the rush of every day activity, it can be hard to step back and review the core values of your organisation – who are we, what are our strengths, who do we serve and where do we want to go? Clear answers are vital for survival. Every staff member must understand the overall business mission and their role in its future.
2. Be agile
Emerging technologies bring a stream of new opportunities, and those ready to act quickly can make huge gains. But how do you keep up? It is worth building closer relationships with your technology partners – part of their job should be to filter the developments and identify those that align best with your business.
3. Build a star team, not a team of stars
With a team of stars, the England cricket team has been put firmly in its place by New Zealand recently, retreating to a score of 58 in one notable test innings. Every NZ player knew their part and performed it very well. No egos were allowed to be placed ahead of the team’s interests. Everyone had a focus on the end goal.
4. Lose the baggage
This is a good time to review every part of your business, and determine which activities directly support your core activities and help you towards your goals. When your star team is weighed down with non-core tasks, their view of the goal is obscured. Few organisations can do everything themselves and retain focus – spend your time and attention wisely.
5. Make your IT work for you
Given that technology is the driver of the change that is disrupting every industry, the IT team is key to survival. Here, more than anywhere, losing the baggage is necessary. These are the people who understand your business, and the possibilities that technology has to transform its future. Explore the as-a-service options that will save them the most time; nobody can design the app that your customers will love while they are juggling things like device management and level one support.
6. The right digital tools of the trade
Your IT team are best focused on business growth ventures, but everyone still needs the right smartphones, tablets, laptops, printers and many other devices. The right tools increase productivity – so modern workplace-as-a-service (MWaaS) will make sure everyone can complete tasks efficiently. It even lets you avoid capex and gives you group pricing options – and somebody else answers the support calls!
7. A network of trusted partners
If you want to focus on future opportunities, you still need to know your business essentials are in safe hands. From cleaners and security to car servicing and IT, finding a trustworthy support team gives you confidence to succeed.
It isn’t easy, but with the right team and strong focus on the future, your organisation is equipped to thrive in the most challenging and exciting business era yet.
Ask us how we can gear you for the Modern Workplace
CSA offers a unique Modern Workplace-as-a-Service (MWaaS) solution to help you address the several challenges listed above. For more about MWaaS with devices and licensing from HP and Microsoft, and a range of services to support your organisation’s path to success, contact us using the form below. I’d welcome the opportunity to discuss whether MWaaS is suitable for your environment
About the Authors
Jared is Portfolio Manager for Managed Services at CSA. Jared has over 23 years experience in the IT industry, having built and managed multiple businesses in this time. His objective is to help customers with their challenge of balancing the time and cost of running technology against their strategic IT objectives. Jared’s governance, risk and compliance expertise positions him as a trusted advisor that can advise customers on what can and can’t be delivered as-a-service by a technology partner.Jared Staniland
Darren is Portfolio Manager for Mobility and Collaboration at CSA. Darren has over 20 years’ experience delivering Windows desktop and device solutions across dozens of industries. Darren has built a wealth of experience as a solution architect for a raft of mobility and collaboration technologies and platforms, and loves nothing more than assisting customers from strategy through to execution.Darren Young