synnovate

Sometime in the 1990’s consumers woke up and discovered a new found intelligence that liberated them and created a new mindset when it came to what and how they purchased. Access to information was an important ingredient in this start of the revolution but it wasn’t the only factor. Yes the internet has driven access to information, but the changes in consumer behaviour have been more profound. Where once the consumer local shopping demands was within an area within 25 kilometers from home, today consumers will scour the globe looking for products to purchase. Initially this global search was about the best price or good bargain, but consumers now are looking for the unique or the interesting. A growing trend towards connoisseurship or the passion for the rare item is driving the consumption needs of the smart consumer. The search for the unique has been driven by a large percentage of consumers in developed nations with access to large amounts of disposable income; however the financial calamity that has impacted the global economy may swing this online behaviour back in favour of the bargain hunter.

With generation Y and the newly defined iGeneration less likely to suffer in the economic downturn than the baby boomer and Gen X parents this trend towards global shopping may become a very important facet for governments and policy makers to consider as they try to turn around the titanic.

As the connected world continues to evolve and access to information becomes more universally available, we need to look at the way in which we are organising our firms, work flows and communications activity. A number of global factors are either driving a need for a radical change or providing a set of enabling tools that allow us to question the way we operate business.
Lets first at the issues driving the need for radical change:

• Climate Change
• Global Financial Crisis
• World Poverty
• Regional Trade Agreements

Why are these issues driving us towards a more collaborative mode of working? Let’s examine some of the common themes underpinning these key issues. Firstly, no one person, company or country holds the exclusive answer to the solution for any one or more of these issues. The solutions require the combined intellectual and financial capabilities and resources across a spectrum of individuals, organisations and governments. Secondly, acting individually will only exacerbate the problem, as these problems act like a water bed, when you push down on one problem you run the risk of another area of concern bubbling to the top. The third issue is the ease at which political leaders swing from one “hot” issue to the next, sometimes displaying very schizophrenic behaviour. A process of collaborative problem solving will ensure that a critical mass of focus is maintained on solving the issue. Finally, unless these items are managed in the context of a business opportunity, the necessary financial support required to implement the solutions will be difficult, if not impossible, to accumulate.

The upside is that a number of critical enabling tools are now evolving to enable us to address these issues in a global manner. The evolution of “Web 2.0? or “the collaborative web” is providing a platform for aglobal response to these issues. The new tools available are radpily shrinking the world, allowing groups of interested parties to come together and create solutions to the global issues challenging the human race today. New economic models built around e commerce and some time soon true mobile commerce allow the rice farmer in Burma and Masai tribe in Kenya to move their product into the market and get rewarded for it. The “Long Tail” by Chris Anderson our recommended reading this week, examines the way in which the web has broken the back of the hit based economy, providing greater choice and accessibility to products for consumers. The second key tool, is the opportunity to rapidly intellectualise and share knowledge across a greater sector of the global community. What’s to stop GM placing all their business data online and asking business consultants to work on finding a solution to their problems, nothing only a fear of collaboration and misguided perception that 1. they can find the answers them selves and 2. their data has some kind of commercial value, if they go broke that value will be zero, and if it is underused or misused then the value will be not much more than zero. GM should open up the door to anyone who has an idea about solving their financial/business difficulties and reward those who provide a valuable contribution towards their reinvention.

So, where does this leave us? If you still think businesses is about heirarchy and tightly managed bureaucracy you might be wrong. It is time to re-examine your businesses and find ways in which you can capture the value of collaboration and drive change into your organisation that is forward looking and meaningful. Our Rapport 360 approach has been created to help you examine your business and find ways in which you can modernise your approach to business. Time to engage, and we would like to show you how.