In business, spending — and overspending — can be a lot like a tsunami.
“If I were to ask you to imagine a tsunami, you’d probably picture a massive wave. Which isn’t inaccurate, but tsunamis start out as tiny ripples in the ocean before they get stronger and eventually grow into something that can have a devastating impact.”
The world of business, and the world in general, is set to face more disruption and innovation in the next 20 years than we have seen in the last century.By 2026, the average tenure of companies on the S&P 500 Index is projected to be about 14 years, a significant drop from 33 years in 1965 and 20 years in 1990.
on identifying the biggest costs associated with launching a rocket into space – that is the cost of building a brand-new rocket for every trip. Today, SpaceX develops rockets that can be used more than once. But how have they managed to keep the price stable? One way is by starting to produce their own hotdogs, rather than buying them from someone else. And they’ve also redesigned their food courts to speed up the amount of time it takes to buy a hotdog, which, in turn, lowers their servicing costs. “It’s about the hotdog but it’s also not about the hotdog, because to be able to buy this super cheap hotdog from Costco, you need to be a Costco member, which costs customers an annual membership fee.
People still think of technology as a competitive advantage, but everyone is doing the same things with technology... The real competitive advantage comes when your tech investments are directed smartly.Pragasen Pather, Sun International group CIO, learnt a lot about strategically allocating budget during Covid-19. When the country went into lockdown, Sun International was one of the businesses most affected because they couldn’t operate.
BCX Enterprise Forum Matt Lawlor Futureworld
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