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How Companies Cope

The World is Flat

Linda Tomajko

on 26 April 2010

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Transcript of How Companies Cope

How Companies Cope There are eight rules they will have to live by to cope. Rule #1: When the world is flat,
whatever can be done will be done.
The only question is will it be done by you
or to you. If you have an idea, pursue it. Someone else will faster than you think. Rule #2: Because we are
in a world where whatever
can be done will be done,
the biggest competition is
between you and your
imagination. Countries still compete with each other. (and always will) Companies still compete with each other. Individuals can now act
and compete
globally. Whatever society is the most open
will thrive the most. Which means we are not automatically
roadkill for China. They censor Google. Hi. This is really small. smaller. Rule #3: And the small shall act big... Small companies will flourish by acting really big. You have to be able to
implement what you imagine. Take advantage of all the new tools for collaboration. Rule #4: And the big shall act small... They need to act small by enabling their customers to act really big. Example: Starbucks learned from it's customers. They never thought of soy milk until they got demands for it. The internet allows customers to customize everything. Rule #5: The best companies are the best collaborators. More and more business will be done through collaboration between companies. Technology is becoming so complex one firm won't be able to master it all alone. A companies specialization is soon going to be a very small part of meaningful business. Rule #6: The best companies stay healthy by getting regular chest x-rays and then selling the results to their clients. They need to constantly identify and strengthen their niches. And outsource the stuff that is not very differentiating. Focus on the things you do
well. Rule #7:The best companies outsoure to win, not to shrink. They outsource to innovate faster and more cheaply in order to grow larger, gain market share, and hire more and different specialists - not to save money by firing more people. hiring people to expand, not firing people to save money. Creating websites to make everything for their customers easier and allow their customers to be more efficient by thenselves. Rule #8: HOW you do things as a company matters more today than ever Companies have to give their customers more power.
In todays world the customer can do and say anything with-in reason including talking bad about your business. Rule #9: When the world goes flat--
and you are feeling flattened--reach for a
shovel and dig inside yourself. Don't try to build
walls. Companies now compete against freelancers. Instead of losing to another firm, they lose to individual people. Companies are now doing more and getting paid less. This is commoditization. You have to offer something totally unique.
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