Organisation of 21st Century

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 21^st century which requires the company to move towards the goal of ‘Customer Oneness’.

The business organisation of the 21^st 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 21^st 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 21^st 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 21^st 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 20^th century or 21^st 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 21^st 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 21^st 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 21^st 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.