“The purpose of business is to create a customer! The business enterprise has only two, and only two basic functions; marketing and innovation,” Peter Drucker.
Over the years, the industrial revolutions have transformed enterprise-level organisations from a company focused management hierarchy to a customer-centric leadership approach. This transformation storyboard has almost been used in every management consultant’s toolbox. And this is very right to do so. However, the recent Covid-19 outbreak and many other awaiting potential difficulties in the future are forcing the business leaders to focus further on the details of the 21. century’s new norms. If Peter Drucker’s way resonates with the customer-centric leaders, maybe it is the right time to discuss a new canvas to explore a more derived approach to influence companies and customers. Commons are at the core of this new value proposition, and this derived approach is more like a bundle of modern systems, methodologies and tools that creates a culture around commons.
A breakthrough journey from customer-centric management to collaborative commons.
Definition of commons
Commons may either refer to identify a person or a landscape where the company operates. Firstly, it is a person. It may be the new customers with differentiated needs derived by the sharing economy or the new employee who is ready to collaborate with a shared purpose. Secondly, it is a marketplace where a new set of rules are considered as new norms of the business. In this sense, it may also be called collaborative commons. It may be argued that this is only a micro-segment of the existing customer-centric domain. Still needs to mature along the way. Very true! However, a severe pandemic teaches us to stretch the fixedness of today’s practices and search for alternative, even progressive ways of business perspectives. Commons are emerging as a tiny conscious segment of the existing marketplace. They share a mature vision of a united future and collaborative lifestyle. But, with exponential growth potential. It would be wise to meet the commons even to have a taste of what it looks like if the marketplace roars with a non-linear shift and leaves the flock behind. (I strongly believe that this is the case.)
A way-forward to Drucker
Drucker’s definition has transformed modern companies from hierarchy monuments to customer-centric racehorses. Companies had the fairy touch of innovation and marketing to understand customer needs and lead this completion with great tech support. Here we are. This is a breakthrough achievement in today’s business structuring.
What if we magnify Drucker’s approach with a bit of modern outlook and business intelligence and apply the ingredients of commons? We reuse the same formula, however, clarify the components to meet the needs of the commons and add a texture of next-gen business phrases?
Design thinking may be applied as an innovation methodology.
Growth may overcome marketing and may embrace the power of data via hacking and A.I.
The engines of leadership may be modified by coaching practice for collaborative team performance.
The company operating at collaborative commons runs on a new business format. Here is how?
I. Traditional management approach:
The traditional management approach is the format when the class of ’92 at the business school had graduated and armoured to win their battles. Well, it is my class! This is the basic operating system of the company management and sadly outdated in today’s competition.
FORGET THE PAST!
- Strategy
- Sales
- Management
- Hierarchy
II. Drucker’s modern approach: Lead&tech-applied format
Drucker’s approach outlines today’s modern performance engine based on management wisdom. In his terms, the strategy is innovation and marketing is the most utmost contributor focusing on the personas, customer journey maps, funnels and more. Obviously, the method has been polished with leadership and technology. Leadership has not only motivated people but also enriched the business model with a pinch of the enabling technologies that make the company a turbocharger operating at five hundred horsepower.
PERFORMANCE ENGINE
- Innovation
- Marketing
- Leadership
- Technology
III. A new approach: UNITE for GROWTH format
UNITE 4 GROWTH format is a set of new competencies for collaborative-centric enterprise and almost a prerequisite for all startups.
CREATE FUTURE!
- Design thinking
- Growth hacking & AI
- Data Analytics & BI
- Coaching for performance
The need for a new culture has risen since the Covid-19 outbreak as a result of the changing behaviour of the customers, workforce and society as a whole. Yuval Noah Harari had mentioned the change as the only constant in his latest book 21 Lessons for the 21st Century, quoting ” Humankind is facing unprecedented revolutions, all our old stories are crumbling, and no new story has so far emerged to replace them.” Isn’t this also true for businesses? Harari continues, “You need the ability to constantly learn and reinvent yourself.”
UNITE4GROWTH format will create a new business culture sharing the roots with the basic management approaches, and more! UNITE4GROWTH blossoms with a combination of Business NEXT techniques, competencies and skills. It has a sole purpose of reinventing the business.
How do we unite the ways of growth?
Innovation may better be a habit of the new company culture. Once, it is exercised in the form of design thinking, it would bring in a systematic and creative approach to problem-solving by placing the user at the centre of the experience. Marketing may be pronounced as growth hacking, as the new company will dive into the data to test all the options by agile manoeuvres and tactics, thus; the early adaptors will leverage out the job. Artificial intelligence, based on prescripted data analysis is the future of technology binding all these systems. All in all, coaching is an essential driver for teams’ performance where autonomy, mastery and purpose turn out to be key motivators.
UNITE 4 GROWTH format is more a functional exercise adding value to the strength of Drucker’s performance engine rather than a stand-alone definition.
The united ways of growth may transform the company into a new business model and also empower the execution, meeting the needs and skills of the collaborative commons. As a result, the only outcome would be “sustainable growth.”
We all may better get ready to discover the uncharted territories, either in business or life. May we conclude with Harari again? “To run fast, don’t take much luggage with you. Leave all your illusions behind. They are very heavy…”