How Digital Transformation is Shaping Industries

December 26, 2018 / nancyrubin

Nowadays, we live in a primarily digital world. Almost everything has transferred online or became digitized these days. The fact of the matter is that technological innovations and advancements are disrupting industries left and right. Simply put, modern technology is forcing industries to take on a new approach, in order to remain relevant in the market, as well as remain efficient. However, technology isn’t the only reason industries must consider a digital approach.

As a matter of fact, it’s the consumers and their purchasing habits and behavior, as well as their tendency to follow the latest trends that also forces industries to adapt. If you don’t adapt, in order to meet consumer expectations and needs, your competitors will most definitely outrun you. Companies across various industries must simply develop a more consumer-centric solution, in order to continue providing a seamless customer experience. That being said, here are a few ways how digital transformation is shaping industries.

Chasing a competitive advantage

Newest innovations on the market are always regarded by companies as an opportunity to outrun competitors. The main reason so many companies across various industries are prioritizing digitalization is that it may allow them to gain a competitive advantage. It only takes a single business to disrupt an entire industry and drastically change the rules simply by adopting a new technology or developing a new approach.

That’s why most companies are in one way or another prioritizing digitalization. As a matter of fact, 47% of company CEOs stated that they are being pushed towards adopting a digital approach for their business by their board of directors while 56% stated that their business digitalization efforts are already increasing company profits. In essence, while some companies are considering digitalization others are already implementing new strategies and approaches. In other words, the digital transformation is bound to happen across various industries sooner or later.

Improving efficiency

The fact that every industry is about to experience a digital transformation is evident. Even the industries that are less likely to consider digitalization, such as oil and gas sector are in fact, doing so. Resource exploration industry has so far avoided digitalization but even they have to adapt to modern trends and innovations. The main reason is that a digital approach enables the oil and gas sector to improve efficiency, reduce operational costs and streamline entire processes, among other things.

That being said, oil extraction professionals that are keeping up with the latest technology have implemented an ecommerce solution. As a matter of fact, reliable oilfield equipment zone essentials can be easily bought and acquired online, thus reducing the downtime and maintenance costs for mission-critical equipment on the field. Not only that but artificial intelligence and automation are also making their way into the resource exploration industry, helping operators streamline the processes of detection and exploitation of natural resources.

Meeting consumer demands

As mentioned before, consumer habits are oftentimes one of the main reasons why industries and companies develop a new approach. After all, if you’re not relevant to your customers you will lose a battle to your competitors. Consumer demand for increased and improved connectivity, as well as their increasing interest in smart devices and IoT (Internet of Things), has already made an impact on various businesses ranging from retail to ecommerce and so on. These demands have made their way even to the automotive industry.

Nowadays, one of the rising trends in this industry is self-driving and highly connected vehicles. Therefore, the cars of the future won’t be able to fly anytime soon but they will surely be able to drive themselves. Vehicle manufacturers and sales dealerships are also adopting a digital approach for their consumers. As a matter of fact, 75% of consumers who are interested in buying a vehicle will conduct their research online. Moreover, a digital approach in the automotive industry is also there to serve new consumer needs, especially since 56% of millennials would rather avoid interacting with salespeople in person.

Reshaping the logistics

The distribution and logistics industry is also experiencing vast changes due to the digital transformation. Logistics and distribution providers are practically being forced to adopt a new approach because their clients are doing so as well. For example, retail and ecommerce sectors are leveraging the newest technology to its fullest potential, thus making numerous promises to their customers, such as next-day or even same-day delivery, in order to boost customer experience. Also, manufacturers in the automotive industry want materials delivered at the right time for production, in order to avoid having to store materials around.

These demands force distribution and logistics providers to step up their game and deliver on their clients’ expectations. Even though logistic providers aren’t part of major brands per se, they still feel responsible for representing those brands through their services. Therefore, as manufacturers and retailers implement their digital approaches, distribution and logistics providers must become an extension of their clients’ brands, in order to remain competitive and relevant.

The world is already reshaped by the digital era and it continues to be transformed. As technology continues to advance, the increasing need for new solutions challenges various industries. Even the industries that are reluctant to transform will eventually have to do so. That is if they wish to remain successful and competitive in the market.

Guest author, Raul Harman, is a B.Sc. in Innovative entrepreneurship and has a lot to say about innovations in all aspects of digital technology and online marketing. While he’s not enjoying football and great food, you can find him on Technivorz.com

How the Workplace Is Changing in 2018 (And How You Can Keep Up)

June 25, 2018 / nancyrubin / 1 Comment

Guess what: The workplace of today isn’t the same as the workplace of even a few years ago. There are forces at work that are influencing who you hire, why you hire them, and even why people come looking to you as a possible place to work.

Take the generational shift: Baby boomers are retiring in greater and greater numbers. And they’re going to be replaced by millennials—in greater and greater numbers.

And despite worries about the cost of education and debt, those millennials are entering a workplace where employers are competing for incredibly qualified workers. That means what they offer to potential employees has to be innovative and competitive, too.

We keep hearing about the incoming robot revolution, and automation is going to change the workplace. But no one really knows what that’s going to look like. In fact, the jobs that get replaced may be supplemented by jobs that are new.

What else is the workplace going to look like? This graphic gives some details.

Please include attribution to https://zerocater.com with this graphic.

Millennial Trends: Create a Workplace That Works for You

September 14, 2017September 14, 2017 / nancyrubin

When people talk about Millennials, they see them as a generation dependent on cell phones, always on the go and very aware of environmental issues. But realistically, this description is applicable to almost anybody in the modern, civilised world. What distinguishes Millennials from others is the fact that they know how to use the new technologies to their advantage and they use the availability of the vast knowledge online to be informed and involved in important issues.

Thus the workplace has evolved not only to suit their needs but also to be a better environment and more oriented towards the human factor.

Work and fun go together

It’s not unheard of that you can have fun in the workplace. But usually that means that you do the job you love, and more and more it means that you need some time to relax and reset during work hours. Many companies practice this way of thinking by having recreational areas where workers can play board and video games, read books and other literature in the specially designed nooks and use some of the stress-relief techniques, such as barefoot walking on the grass, gardening or yoga. Some companies even have masseurs on staff and psychologists.

Flexible work schedule

If your company can allocate the time and resources, try implementing flexible working hours. If it’s too much trouble, then try a flexible start of the workday. For example, if you usually work from 9 a.m., then allow for employees to arrive between 9 and 11. Not everyone is a morning person and this flexibility can contribute to a great extent to the productivity of your workers and their satisfaction with their job.

Listen to their ideas and opinions

As a generation which uses the Internet for research and to be up-to-date with happenings in the world, their ideas might bring new perspectives and approaches. Sometimes they can even suggest strategies which will help you recreate your image and brand, being that they follow the newest trends when it comes to their interests and education. They are the generation that is competitive by trying to be the best in their field of expertise thanks to their diligence and dedication. So their opinions and ideas, no matter how extreme or far-fetched, are usually based on extensive research and observations.

Be transparent

Every employee wants to know what the goals and objectives of their employer are. Also, they would like to know where they stand in that organisation and how their work contributes to the company’s success. But the difference between Millennials and other employees is that they are going to leave if they think that you are doing something behind their back and at their expense. The fact is that you should expect nothing less from the generation growing up in an evolved society which is well aware of all the violations of human rights and is not afraid to voice their disagreement and outrage.

Technology

Millennials are very well educated on what technology you need and how it operates, and they can be a positive example to other employees how to modernise their everyday workload and provide better results. Another aspect of Millennials’ work habits is that they don’t waste time and energy on everyday verbal communication, but preferably stay in touch with all their co-workers and team members via software like Skype, for example. This way the place is not a problem for performing tasks and work-related activities, and therefore the productivity doesn’t suffer.

Office design

Millennials attribute great value to the look of their office space since they are supposed to spend a big portion of their day there. Their ideal office is collaborative with no walls, open and promoting interaction between employees. This doesn’t mean that privacy should be excluded or replaced. Also, Millennials are more prone to bright places, but will always choose windows with direct sunlight protection such as custom made curtains made by Eiffel for example, since they don’t like anything preventing them from doing their jobs to the best of their ability.

In the end

It’s important to recognise everything listed here not as something Millennials need in order to work for you, but what you as an employer must have to achieve maximum productivity for your company. A happy employee is a productive employee, and having Millennials on staff can only motivate others working for you to perform their duties to the best of their ability as well as to exchange knowledge and thus find the best approach to execute an old task in a new, more effective manner.

5 Reasons Why Millennials Find Temporary Work Satisfying

October 19, 2016October 19, 2016 / nancyrubin

It’s a hot topic in the news: Young people are leaving higher education burdened by more debt than any other generation. In fact, in just over ten years, debt for people younger than age 30 has almost tripled.

So what does student debt have to do with temporary work and Millennials? Turns out, plenty. With more debt comes an associated delay in life achievements such as buying a house, getting married, and even moving out of a parent’s home. Because those milestones come later, Millennials are also seeking out alternative options for work in order to both secure employment and find a better work-life balance than previous generations. All that’s led to an embrace of non-permanent positions by that generation.

http://www.akkencloud.com/5-reasons-why-millennials-find-temporary-work-satisfying/

Is Next-Gen Leadership a Reality for Your Business?

October 22, 2015 / nancyrubin

No matter how long you’ve been running your business, it’s time to pay attention to “next-gen leadership”. More specifically, this is to state that you need to be thinking about millennials, professionals who are generally considered to be born between the early 1980s leading into the early 2000s.

These young individuals have a different scope on things ranging from computers and the Internet to customer service and salary expectations.

In order to not only attract millennials, but also to mentor and guide them, you will need to provide next-gen leadership.

So, What Does This Mean for Your Company?

Essentially, you need to understand the attitude of millennials. By and large, these are educated professionals who are driven, but you also need to display patience as a leader.

In fact, in the article, “What Does Next-Gen Leadership Look Like?,” the author discusses the idea that patience is key.

Younger workers, across all generations, are prone to jump the gun and think that they are able to solve all problems on their first day on the job.

This is where you, as a leader, need to be able to recognize such behavior and thought patterns, providing corrective measures to help new employees to develop and grow.

Allow Yourself to Learn

One of the finer points of being a leader is to allow you to grow and learn.

If you’re not able to do this as an employer, then you might not be as strong of a leader as you think. The truth is that time change, people change, professional and cultural attitudes change.

In order to become and remain successful, you’ll need to adapt not only your own views, but your company’s views to those of professionals who are entering the workforce.

Resisting change can work for a while, but a smart leader will find ways to implement change without goes against the core values of the company.

You Are Training Future Leaders

In the end, your job as a leader is not just to lead, but it is also to train others to lead. This needs to be your mindset in all that you do in a leadership position.

Yes, your job is to generate revenue for your business, but it is also to build up leaders who will take your place in the future.

This is advantageous in that it can provide you with sustainable income with the right leaders in place if you own your business, but it can also ensure your legacy, pension, added benefits, and more if you don’t.

About the Author: Andrew Rusnak is an author who writes on topics that include leadership and business development.

nancyrubin

Content, Curation, and Connections

Millenial