About Member Workshops
At the Bloomberg Breakaway summit, members break into workshops where they dive deep into innovative growth strategies with top management experts and practitioners. These hands-on, immersive experiences allow members to work together and create solutions to succeed in today’s disruptive business environment.
Bloomberg Breakaway Annual Summit, May 3, 2017
Led by
Mark Bonchek, chief epiphany officer, SWIFT Thinking
Discussion
Every company and industry is threatened by digital disruption – both competitors with game-changing business models and customers empowered by new technologies. The first thing CEOs must do to be effective in confronting digital transformation is to change the way they think.
From strategy to marketing to organization to leadership, executives must unlearn old mental models that are outdated or obsolete in order to embrace fully the new logic of value creation.
In a networked economy, growth shifts from the incremental to the exponential. The old model is eking out 10% growth. The new model is shooting the moon – tenfold growth.
For example, companies like Google, Uber, Airbnb, and Facebook look beyond controlling the pipe that delivers a product and instead build platforms that enable others to create value through ecosystems of customers, suppliers, and partners.
‘It feels good to have…lots of engagement [with customers], but at what point do you really listen…and have them have ownership in your company?’
-Kara Goldin, Founder and CEO, hint Inc.
‘The challenge is that you have built such a loyal following and the brand is so well defined, it’s really hard to let go of that. And how do you start to turn that over. Something to watch out for: the stronger your brand identity…the harder it sometimes is to let the customers into the culture.’
-Mark Bonchek
While the world has become many-tomany, lots of companies still operate with a one-to-many mindset. They treat customers as consumers even when they want to be co-creators.
CEOs need to unlearn the push model of marketing and explore alternatives. For example, instead of using relationships to drive transactions, build brand orbits and embed transactions in relationships. Instead of customers being consumers, relate to them in a variety of roles. Beyond delivering a value proposition, perhaps fulfill a shared purpose.
Key Takeaways
- We have to unlearn the old ways in order to learn new things and move forward
- Stop to think about how you’re thinking about transformation. Do you know where you’re going?
- Recognize there are “co-creators” — from Guttenberg to Zuckerberg, it’s rarely one person with all the knowledge to get us to that next level. We have to co-create to co-exist.
- CEOs need to learn how to take a backseat in some instances. It’s like a dinner party: The host’s job to get everyone acquainted but then step back as guests chat and network
Letter from Zebra CEO Andres Gustafsson
To transform what we do, we first must transform how we think. To transform as a “Digital CEO”, we all must think in new ways about intelligence, connectivity and visibility, all powered by real-time insights. The growth of Internet of Things (IoT), mobility, and cloud computing will continue to push digital transformation forward, equipping companies of all sizes with data-driven intelligence to improve employee productivity and enhance the customer experience.
With IoT solutions, we may soon see the day when a customer picks up a sweater from a shelf and buys it right there with a smartphone, without waiting in a check-out line. In healthcare, wearables and sensors automatically transmitting health data directly to doctors will eliminate the need to manually enter the information. From a manufacturing perspective and with the rise of 3D printers, we’ll soon live in a world where a customer can order an item, and the delivery truck prints that item as it’s driving to the customer’s home.
Businesses globally will be dynamically streaming data to their workforces in real time. You’ll be able to run your operation at the speed you can collect data. You’ll make decisions in real time. You’ll have visibility into what is happening as it happens and react in real time.
The new reality is that access to realtime data – about people, processes and devices through sensors connected to the internet – will revolutionize the way we interact with each other and our world. Zebra is proud to be part of this new reality with a solutions portfolio, including enterprise-grade mobile computers, printers, scanners, software, services and more, that helps businesses sense what’s happening, analyze the data and act on the information to make smarter decisions. We call this Enterprise Asset Intelligence, and it will help your business win in today’s marketplace.
