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As humankind advances, new technologies are supposed to enhance and improve our lives by broadening access to education, financial instruments and other tools, while also improving communication within our globalised society. These were the ideals that the founders of the internet shared, says American futurist, author, professor and media theorist Douglas Rushkoff.
Organisations started outsourcing specific business activities in the 1990s mainly as a cost-saving measure. Functions not related to the core business, such as accounting, human resources, data processing, security and maintenance were contracted out to specialised service providers rather than handled by internal staff and resources.
It’s been proven that industry leaders who invest in new technology and innovation achieve better productivity and return on investment. However, for this to be true, an organisation needs to be ready for innovation, not only technically but also culturally.
Only 15% of South African start-ups are successful, despite South Africa having the 2nd highest ranking on the continent according to the 2018 Global Entrepreneurship Index.
Boardroom efforts to make customer experience a priority is being hampered by rising costs, retention and bad debt. South African firms continue to be challenged by rising costs of customer acquisition, retention, fraud and bad debt while striving for innovation through leveraging data and AI techniques.
Digitalisation has led to customers having an overwhelming number of choices in purchasing choices, brand selections and generally – everything they do. When presented with too many choices, many customers are likely to make poor decisions and disconnect with brands. When it comes to options, simplicity wins. Companies succeed when they cater to the individual customer and make it easier for them to consume what they want, how and when they want.
Although South African business leaders may feel somewhat besieged by bad news and murmurs of ‘unbearable’ Eskom tariff hikes, tech-fuelled innovation is providing business with new options to lower energy consumption.
853,000,000 results pop up when you google SUCCESS - tips to achieving anything, traits of successful leaders, steps to launching your million-dollar startup, even how to become the next Mark Zuckerberg. Most people tend to think the most successful entrepreneurs, business owners and CEOs we read about just got lucky. That the key to their success was the sum of the perfect equation of entrepreneurial traits, skills, money and background. Some magic formula the rest don’t have access to.
John Kinsley has written a book that presents two macro-economic challenges facing the world today. There are two broad economic challenges facing economies around the world today: the one is ageing demographics (particularly in established economies) and the other is inequality.