A customer dials a company to
complain about a problem he is facing in one of its products. The support
executive tries to resolve the problem with all his expertise. Despite all the best
efforts, the customer feels a little uncomfortable in getting through the entire
process. He is satisfied with the resolution but not very delighted with his experience.
Why? The answer doesn’t lie in management theory. It is the new paradigm of 21st century which requires the company to move towards the goal of ‘Customer Oneness’.
The business organisation of
the 21st century first has to become its own customer so that it
has a clear understanding of a customer’s perspective. It has increasingly become
important that customer these days needs empathy and not sympathy.
21st-century organisation
– Facing the web of ambiguities and ever-changing marketplace?
In the present digital world of
information overload, the customer finds himself amidst confusions and chaos.
Decision-making has become all the more difficult for customers in an
ever-changing marketplace. This poses a considerable challenge to
organisations. To overcome this, they need continuous innovation,
sustainability and clear communication with their customers. And, they need to
be considered in an integrated approach. This is where the concept of ‘customer
oneness’, mentioned at the beginning of this article, become all the more
important.
In such a fast-changing world, if the
organisation is able to identify with its customer as one. The clutter around
the customer can easily be broken. And, a loyal customer can get the
organisation more customers as word of mouth continues to remain the most
credible marketing strategy even today.
21st-century organisation
– What are the characteristics required?
Innovative ideas, business
intelligence, automation, big data, and predictive analytics are the
significant themes that the organisations today revolve around. Let’s
understand this by one example. Do you remember how would people respond in the 1990s if you tell them that you are going to start a business? Where is the
money? Now, if you tell them the same thing, they will ask, what is the idea,
what is your revenue model? So, what does this suggest?
In today’s world, organisation needs
a healthy, sustainable and innovative idea. And, once the idea is supported by
business intelligence and predictive modeling, it becomes self-sustainable
model. It is then the capital which helps in this model becoming a brand to
reckon with. Does this story not sound familiar? Yes, it is. It is the story of
many startups who went on to become fortune 500 companies in almost no time.
Importantly, apart from the operative
part of the business, many of these organisations have reached out to people on
social media providing them with free video, blogs, and reports about their
products and services. It has not only helped them in connecting with the
people and earning their trust but also quickly transiting them from the top of the
marketing funnel to its bottom, achieving the sale.
21st-century organisation –
Why purpose needs to be redefined?
Historically, organisations had
focussed on product, pricing, promotion, place to run their businesses. With
time, they had also started emphasizing upon customer-centricity. But, is this
enough today? The answer will not certainly be affirmative. To become the best
business ventures of 21st century, organisations need to
come out of their traditional mindset and think ways in which they can
contribute to society.
It is time that business
organisations strive to adopt the values of democracy i.e. of the people, by
the people and for the people. In the 21st century world, the bottom line for organisations should be aligning the end goals of the organisation to benefit
the people at large.
Robert Kiyosaki, an
American businessman, in his book THE BUSINESS OF THE 21ST CENTURY puts
it, “-while
personal success is fulfilling, it’s much more fulfilling when you can help
many others create their own success as well.”
Certain things are beyond profit and
loss statement, appropriations can be made to it. But, if the end goals are not
aligned with new realities of the 21st century, even the amendments
to organisation at a later stage will not help. Interestingly, serving people in
true spirit while running a business helps to create a trustworthy brand.
21st-century organisation
– What is expected of leadership?
The organisations take the path their
leaders carve for them. So, whether it is the 20th century or 21st
century, the business leaders continue to be the guiding lights for their
organisations.
Tom Peters, a famous business author
in an interview by McKinsey Quarterly, says, “21st-century-AD leadership is
probably just about the same as 21st-century-BC leadership. And,
fundamentally, it is about organising the affairs of our fellow human
beings to provide some sort of service to other people.”
This suggests that leaders need to
invest their time in creating human capital and imparting the organizational
values to them. Some of the best organizations in the world, starting around
the beginning of the 21st century, are known for healthy and
fun-filled workplaces. This has remarkably contributed to their increased
productivity.
Apart from the people and talent,
leaders themselves need to embrace new technology and think creatively to
better align their organization’s priorities with constantly changing
requirements.
21st-century organisation
– Why ethics are all the more important?
The commoditisation of almost
everything today is breeding the culture of rampant sales irrespective of any
ethics or care about the customer. The difference in the pitch of the sales
department and servicing department leave the customer disappointed. It is also important
to note that customer today is all the more aware of his rights. In fact,
governments world over have empowered them through suitable legislation.
Thus, the business within the
boundary of morality is the need of the hour. And, it should not be the fear of
legislation which should drive push towards morality. Rather, it should be a
voluntary act and organisations need to be honest and transparent towards their
customer, eliminating the ‘trust issue’.
Further, Gandhian ethics also
strengthen this notion as Mahatma Gandhi mentions business without morality as
one of the seven sins.
Therefore, the success of
organisations in the 21st century depends on many factors. They are
already facing a very ambiguous customer in all the more complex marketplace.
They need characteristics that can match the requirements of 21st
century. The purpose should not only be profit-making but also contributing back
to society. Leadership needs to nurture talent and develop a team of people
whose increased productivity take the organisation to greater heights. Last but
not the least, ethics of the organisations which play all the more important
role in times when businesses are about relationships.