Figuring Out What is Important – Shared Resources and Core Competencies
The business world is turning into one big melting pot for ideas and resources. With open innovation gaining popularity around the globe, and companies becoming less protective of their assets (e.g. Tesla making its patents public) companies must look elsewhere for the competencies that makes them successful. In order to do that their leaders must forgo their fears and inhibitions, which prevent them from making the most out of what the market has to offer.
One way to achieve this is embrace the concept of shared resources. Companies no longer need to excel in everything internally. Instead they should focus on developing and perfecting their core competencies – the things that truly make them accomplished and prosperous. By utilizing the resources of a trusted partner for their own gains leaders will be freed up to pursue the creation of superior customer value and ultimately success.
The future of business analysis lied exactly in this area. Consultants need to focus on helping companies identify their core competencies and figure out how to successfully combine the resources available to the business through third party suppliers. Shared resources and openness to partnering are some of the main characteristics of a successful future enterprise. The sooner companies realize this, the better their chances are in the digital age.
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