WHEN UBERIZATION COLLIDES WITH YOUR INDUSTRY
By Tom Morrison
Every industry, including turfgrass production is living in the most amazing times. Information, technology and consumer demands are changing at record pace. Te question for every industry is, "Is your company adequately prepared for the rapid pace of change between now and 2020?"
Like two superheroes in the galactic society
of super powers, “uberization” is now colliding with every industry like never before. Te uberization of every industry will take twists and turns with three dynamic shifts changing business models and brands that have been around for decades.
In an IBM study of over 5,000 C-suite executives, over 60 percent stated their #1 fear was the "uberization" of their business model. Meaning a technology or shift in the business model "out of no where" that leaves them in the dust and irrelevant to their customers. Did you hear that? Over 60 percent fear uberization! All you have to do is look at the impact Uber has had on the taxi industry and Zillow on the real estate industry to understand the fear. Both sets of technology have sent shock waves in their industrys.
You should have the same fear because change is not coming. It’s here NOW. It's already happening as we speak, and at a rapid pace like never before. Key questions to ask are yourself are:
• Do you understand the three forces causing rapid change? • Do you know why uberization is happening? • Do you know where it happens the most in every company? • Does your association excel at the keys to maximizing value in an uberization economy?
Te rate of change in the next three years will be more than we have seen in the last decade by far. Te adapters will excel and thrive … the slow-to-move will struggle and see challenges.
TPI Turf News May/June 2017
Te key for any company thriving in this change is—you cannot wait until 2019 to figure this out. If you ignore the changes, you will be left behind.
When I say "change," that doesn't mean change who you are. It is about shifting your mindset to utilize technology and new ways of doing business to be leaner on costs, have a more convenient and engaging connection with your customers and be able to take advantage of the demographic and consumer buying shifts that are creating immense opportunity for any company that seizes it.
No industry is exempt from "uberization." It is critical that every industry seek to understand the three elements changing and reshaping the way people will do business in 2020 and beyond and the three primary areas where "uberization" happens.
Te three dynamic forces that are creating a fire-storm of change are:
• Emerging Technologies • Consumer Buying Habits • Demographic Shifts
Tese three forces are rapidly changing business models in the following areas:
• Delivery of your product • Customer experience • Te product itself • How you operate and produce product • Workforce • Te overall business model
Tose who fail to research, shift their business model and capitalize on the changes taking place in the next three years, will be challenged to compete in 2020 and beyond.
Companies can no longer move at a snail’s pace to keep up with the competition. Business models used to take years to dramatically change. Now they change almost instantly without you knowing it.
Discovering the uberization in your company will be key to your success. In any company, the following three elements always exist at some level in the six areas mentioned above:
• Friction • Anxiety • Stress
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