THE PRICE OF A 24X7 WORLD
The new dynamic 24/7 business world presents enormous challenges that confront business enterprises, requiring them to adjust roles and processes to succeed. An uncertain global environment offers unprecedented opportunities for both success and failure. Complex issues frequently appear, requiring immediate attention and timely action. Some of the significant trends heating up and contributing to fast-moving events challenging organizations are:
1. GLOBALIZED MARKETS
Globalized markets provide substantial growth opportunities. They, however, intensify competition. All business entities, both big and small, are affected by global competition. Several employees have virtual jobs connected virtually by the internet and email. Corporate loyalty has declined considerably owing to the lack of direct supervision.
2. HYPER- COMPETITION
Hyper-competition comes from sellers who, while lowering costs, still provide quality and service. Strategies such as outsourcing, joint ventures, and unbundling the value chain are used by them. In a 24x 7 world, high-quality service at a lower price is not a contradiction.
3. REAL-TIME
Customers want to do business with firms that serve their customers “any time, any place.” Customers decide real-time when they sell and order products on the web whenever they want or do their ATM banking when they choose.
4. RAPID TECHNOLOGICAL AND SCIENTIFIC ADVANCES
Breakthroughs in bioscience are on the anvil. Energy-saving products like solar panels and hydrogen-powered cars will eventually lead to a green revolution. Cloud computing and various internet products will lead to software added communication and measurement.
5. PRESSURE ON COMPANIES TO PERFORM
Continuous growth and performance in a 24×7 world are imperative for companies. The threat of being acquired is a constant sword hanging on the neck of underperforming firms. Investment firms are looking to acquire underperforming firms to restructure and resell them later for substantial gains.
6. POLITICAL UNCERTAINTY
There is a marked increase in political uncertainty globally, leading to the threat of security problems. The cost of maintaining physical as well as technological security has increased manifold.
Moreover, sensitivity to governance scrutiny has resulted in a loss of trust in verbal commitments. There is a pattern of uncertainty and discontinuity running throughout these new realities of dynamic change. The price of a 24×7 world is steep. It necessitates the initiation of carefully considered solutions.
The Data Direct team can assist your business in traversing the fast-paced 24×7 world with ease by providing access to dispersed and fragmented knowledge, employee inclusion, integrative analysis and management, quick implementation and continuous revision of processes.
