C-Suite Intelligence 1st July 2020

Winmark's C-Suite Intelligence service provides news, content and research to help leaders across all C-Suite functions address the exceptional challenges they are facing.

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TOP INSIGHT



The essential guide to post COVID-19 consumers
 
Bain & Company
 
Bain conducted interviews with 162 people in seven countries and derived the following insights into consumer behaviour post COVID-19. 

1. People want to feel less anxious

How businesses can respond:
  • Provide guarantees, risk-free trials, and flexible propositions and payment terms.
  • Make safety measures visible.
  • Empower employees to make the right decisions.
  • Earn long-term loyalty with flexibility and empathy.
2. People are more mindful of their spending

How businesses can respond:
  • For price-sensitive customers, consider how to make offerings more affordable.
  • For those seeking high quality, deliver a more premium experience.
  • Make products easy and convenient to access.
 3. People are seeking a more balanced, healthy lifestyle

How businesses can respond:
  • Find your role in helping consumers make informed decisions about health and well-being.
  • Care packs, check-in calls and unexpected discounts can help customers feel better.
 4. People want to feel more connected

How businesses can respond:
  • Evolve your propositions so people can enjoy them together.
  • Focus on local.
  • Create experiences they can enjoy at home.
  • Invite them to collaborate on designing the next iteration of your business.
5. People are seeking out kindness and purpose

How businesses can respond:
  • Provide tools for purposeful purchasing, such as reusable products or “buy one, give one” offers.
  • Create flexible waiting lists, allowing people to wait in line digitally for physical experiences. 
 
​​​​FURTHER INSIGHTS


Three keys to developing an opportunity marketplace
 
MIT Sloan Management Review
 
Opportunity marketplaces are systems and platforms that enable talent to access strategically valuable opportunities while building skills and capabilities for themselves. Markets that facilitate successful exchanges between organisations and their workers around defined opportunities tend to efficiently and fairly allocate talent.
 
These markets empower and encourage workers to evaluate, choose, and act on opportunities that are important for the organisation and for themselves. In turn, opportunity marketplaces can provide an organisation with actionable data and analytics, which can help it become more efficient, valuable, and productive.
 
For leaders thinking beyond survival, opportunity marketplaces can be an invaluable tool for better understanding their workforces, building new capabilities, and learning how to more effectively execute their strategies. 
 
 
The potential of Edge Computing explained
 
IBM
 
By 2025, there will be an estimated 42 billion connected IoT devices. With exponential growth of data, there is a need for businesses to adopt edge computing to reduce the cost of data transfer and increase security, as well as gain a competitive advantage with real-time data insights to drive intelligent business workflows.
 
Although edge computing is not new, advances in other emerging technologies such as the acceleration of 5G networks are rapidly expanding the opportunities to realise its benefits.
 
91% of organisations plan to implement edge computing within five years according to a collaborative study conducted by Oxford Economics and IBM. These organisations aim to achieve responsiveness, energy efficiency, and business model innovation through edge-enabled applications and solutions.
 
 

Learn how Digital Twins bridge the physical and the digital
 
Deloitte
 
Imagine you had a perfect digital copy of the physical world: a “digital twin” that can virtually replicate physical products and processes. This twin would enable your organisation to collaborate virtually, assimilate sensor data and simulate conditions quickly, understand what-if scenarios clearly, predict results more accurately, and output instructions to manipulate the physical world.
 
Over the course of the last decade, deployment of digital twin capabilities has accelerated. Longer term, realising digital twins’ full promise may require integrating systems and data across entire ecosystems. 
 
In the future, expect to see companies use blockchain to break down information silos and then validate and feed that information into digital twin simulations. This could free up previously inaccessible data in volumes sufficient to make simulations more detailed, dynamic, and potentially valuable than ever. 

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