Reflections of 2019
Reflections on 2019 We are now leaving 2019 and, in fact, the entire 2010s behind us. Now we are looking ahead to 2020 and the next decade of innovation, technology and business, but before we do that, we should spend some time on reflection. Stopping to reflect, understand and learn from what has been is often the fastest and smoothest way forward.
Innovation, Technology and Business
It is said that we tend to overestimate technology development in the short term and underestimate it in the long term. Facebook, Amazon, Adobe, Apple and Microsoft are 4 companies that have made an incredible journey over the past 10 years and have had the strongest growth rates in the world, in terms of global brands
So, what has made these brands grow several hundred percent over the past decade?
I believe that the absolute greatest reason is innovation, and the opportunity to adapt an offer, quickly. All of these companies have (over a 10 year period) changed their business models and completely or partially switched to subscription / rent models. They have also been constantly looking for new opportunities either through acquisitions, such as Facebook’s buying Instagram or the development of their own services such as Apple TV + or Amazon's Prime and not least the rock hard race of voice assistants Cortana, Siri, Alexa and Google home.
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Also interesting is that these companies are being hunted and will most likely (some of them at least) be surpassed by Chinese scouts. Tencent is already 2019 World's 6th Largest company if you look at Market Value. Not far behind, there’s also Chinese Alibaba. It has been found that several Western companies such as Google and Uber have had difficulty in doing business in China and have both had to back down from their China expansions. Whilst Alibaba, Xiaomi, and Huawei Plant are well establishedin China and are expanding into the Western world.
2019 for Sigma
2019 offered a lot more strategy and advice compared to previous years for our part. Many customers demand advice and best practice. Where to go and what to expect, should you choose headless or all in one,? Is it most important with good content or design, how should you think about multi and omnichannel?
There is often no simple or definitive answer, but it depends so much on where you come from, what industry you work in and what ambitions and goals you have as a company. But there are clearly a couple of guiding areas and thoughts that we intend to raise here to help guide you in the right direction.
- Stractics (Strategy & tactics)
Start by breaking down and defining your vision and goals into a well-defined strategy, the strategy should tell you why and what to do.I would recommend you keep this on a 3 year basis maximum, with a 5 year horizon. Then perhaps the most important of all: Tactics.It should be on a 1-2 year horizon. Define the concrete actions to start moving the company towards the long term goal.
The fastest way forward is often to stop and reflect. In order to be able to make good decisions regarding strategy and tactics, it is important to keep track of their conditions. Therefore, keep an inventory of Technology / Organization / people and skills, Partnerships, Products / services and business. All of these parts can have a great impact, both positively and negatively, on your continued journey forward.
We at Sigma wish you a fantastic 2020 and the best of luck!
Customer Experience CXM