The way in which business is conducted today couldn’t be any
further from how it was led twenty years ago. The question is what has changed
this? One of the biggest drivers in the change of how business is conducted is
that of the digital movement. One example of digital movement is how
smartphones and tablets are not only a necessity to the majority of people but
they have also caused a shift in how business is done.
Everything from banking, retail shopping, booking flights
and everything in between can now be done at the push of a button, from almost
anywhere at any time. The movement of business applications has become an
expectation from consumers. This expectation is growing and evolving at an alarming pace. Take AIB bank for example they have opened a digital hub in Dundrum town center know as the lab, this showcases all their latest digital developments and ideas and allows customers to experience them first hand. It is fair to say that AIB are leading the way the banking sector with their online banking application. However these changes have led to redundancies and the closer of some branches. The branches which have not closed have seen staff numbers drop. Gone are the days when a good relationship with your bank manager was important. Banks have lost their personal interaction which some people enjoy. Will this trend continue into other sectors such as retail shopping where we will see closer of shops or reduction with staff levels as the online craze continues to grow? Some organisations today now dedicated application software and online teams who not only develop new features for existing application but also monitor the customer feedback.
This does not come without its difficulties as now business need to stay ahead
of their competition by providing a digital service and experience like no other.
Trying to maintain loyal customers is also proving to be more difficult as now
customers hold the key for change and can now compare organisations and their
services online. Websites such as trip advisor and Go compare are just two
examples of websites for comparing companies offerings and ratings for same. Digital is
now paving the way and fast becoming the primary route for new and existing business
entering the market. Advanced technologies have paved the way for organisations
to enter new markets. Take apple for example they have been able to enter the contact less
payment market with the introduction of apple pay. All the above have benefited the customer by making
organisations become more competitive in the market resulting in cost saving
measures for customers.
These are just some of the examples of how the digital
movement is affecting the context of business. Another major effect is how robots
can lead the way in automation which will allow us to focus on the areas in
which automation cannot occur. There are
many other ways that digitisation can affect how business is conducted. Please
click the link below to discover if you are ready for change?
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