Good book recommendation: create 100 times the global market

        By ram Charan, Geri willigan

        Publishing House: true culture

        Publication date: April 14, 2021

        In 2020, the black swan epidemic struck, and traditional enterprises had a deep impact. However, five American technology giants, including apple, Facebook, Microsoft, Amazon and alphabet, still handed in brilliant transcripts last year, with a total profit growth of 24%, showing a trend of evergrander. In the face of today's digital giants, traditional companies need to catch up. The earlier they start to rethink their competitive advantages, the faster they can surpass their competitors and create a hundred times the market.

        In the digital age, the traditional business game rules have been completely changed. Any enterprise needs to use a new business model in order to continue to create competitive advantage. The author of this book summarizes six new competition rules: first, personalized consumer experience is the key to substantial growth. 2、 Algorithms and data are essential weapons. 3、 The company will not compete, and the company's ecosystem will. 4、 The purpose of making money is to create a lot of cash and abide by the new law of "increasing returns". 5、 Enterprise colleagues, culture and new work design should be innovated and customized for customers. 6、 Leaders constantly learn, imagine, break through obstacles and create other changes that the company must deal with.

        Every successful enterprise must recognize that consumers' preferences and expectations are constantly changing. The profit model of the enterprise is the same as the technology behind it. Even non B2C companies should always explore the whole process experience of consumers and strive to improve or even comprehensively transform. On the premise of giving priority to consumer experience, establish an enterprise core digital platform covering artificial intelligence and machine learning algorithms, and use data as a competitive weapon to further connect the ecosystem, surpass larger games and create higher value.

        Although digital technology is regarded as the key to driving progress in the AI era, companies are not machines, and teams and leaders are the catalysts for transformation. Just as today's digital giants have a powerful "social engine", that is, the company's personnel, culture and working methods, have strong ability and speed, and can not only eliminate the bureaucratic system, More self-regulation and innovation. In order to build an agile team, employees should not only have the mentality of embracing change, but also be able to put forward ideas, solve problems, teamwork and learn, so as to inject creativity into the organization. As for enterprise leaders, they need to continuously improve themselves, including basic knowledge of algorithms, customer orientation, business mind, imagination, execution and judgment, which are all essential characteristics of digital leaders.

        There is no immortal competitive advantage in the world, and organizational transformation is imperative. Far Eastern Group has more than 70 years of glorious experience. If it can integrate its existing capabilities with digital technology, it will open the road to double growth. All far easterners are expected to think from a macro perspective and achieve greater dreams, "seize the opportunity to shape the new models".

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