MANAGING in the

NEW WORLD

A recent advert on GE clearly reflects how the brand is generally perceived as. It is perceived as an industrial age manufacturer and not a modern workplace where employees create new models. The company wants to change this perception and is investing heavily into new age businesses. Digital platforms such as Uber, Amazon, Betterment and Wealthfront have revolutionized public perception.Business consulting giant McKinsey clearly states that 15-20% of companies today present in the S&P 500 list did not exist fifteen to twenty years back. Existing giants failed to integrate newer business models. Tradition bound models have not yet been challenged in several industries but will soon be. It includes real estate that is still about location, manufacturing that is about owning the factors of production, the airline industry which is about miles and seats or the cable TV industry which measures subscriber growth. The core belief and the underlying systems must be inverted to assess what kind of new models can blend well with the philosophy of the organization.

Source: http://knowledge.wharton.upenn.edu/article/industrial-firms-can-pivot-digital-business-models/

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