PPB September 2018

F romglobalization to technology, today’s successful companies are adapting and embracing rapid change in our industry and in the business world in general. I’ve witnessed a lot of change in almost 30 years in business, and I’ve found that comparisons with old and new trends can help us all move forward. Let’s acknowledge that anyone can imitate, but can we innovate? Our entire culture is based on what’s new—ideas, technology and ways of thinking. As an industry, we are not going to go backward, so keeping our eyes wide open and innovating is what we should all be investing in. Ultimately, adaptability can help our businesses with recruitment and retention for both clients and employees, and it can often lead to differentiation and stability to help businesses achieve a stronger valuation. Here are 27 areas where I’m seeing transformation from an old way of thinking to new, better outcomes. The Old Way Vs. The New Way 1 Anchored to an office vs. working anywhere 2 Top down, rank and file, command and control bosses vs. management that empowers, inspires and encourages a sense of ownership 3 Made in China vs. made in the USA 4 Wisdom from older generation vs . wisdom from all generations 5 In-house vs . outsource 6 Focused on your business only vs. open source, community-driven mentality 7 Marketing vs. cause marketing 8 Commission-only vs. companies investing in talent through base pay and bonus plans 9 Clock-watching and time card-punching vs. trust 10 Social media inhibiting productivity vs. embracing and leveraging social media 11 Relationship selling vs . challenger selling 12 “Country club” board composition vs. boards with ethnic diversity and diversity of thought 13 Products only vs. products and services 14 Inventory vs. virtual, on-demand 15 Two-three weeks for delivery vs next day, same day and free delivery 27 Big And Small Changes Worth Watching by Danny Rosin, CAS Old Business Vs. New Business 84 | SEPTEMBER 2018 | THINK