Businesses today are suffering. Approaches that used to work are now failing to produce results. The most worrying aspect is not the deterioration in business performance, but the fact that managers are usually unable to throw much light on their latest problems.
In this article, we present an approach to the great challenge of change: the prism model. It aims to help executives, managers, and marketeers manage the impact of digital transformation. The prism model supports innovation, helps us understand today’s better-informed users, and helps develop the right marketing strategies to win them over.
The origin of chaos
With the emergence of innovative technologies, a new approach to business is necessary. If no change is made, management and marketing professionals may find themselves left out in the cold.
Business leaders, executives, and managers require insights on how to manage their businesses and the skills needed to succeed in this new market ecosystem.
The prism as a solution
The prism provides an answer for these professionals. It is a geometric 3D figure with two parallel bases and three lateral sides. However, it is also a way of observing reality, a point of view, and a perspective.
The starting point for this story is a discovery made by Newton in the 17th century. By shining sunlight onto a glass prism, he showed that it refracted a range of distinct colours.
Optics defines a prism as an object that breaks down light to produce the colours of the rainbow. This is exactly what is happening in the business ecosystem.
Anatomy of the prism
The triangular prism we have conceived at Esade has two bases: business management and emerging technologies. The three sides of the figure are built on these bases:
- Side A: innovation and business agility (philosophy).
- Side B: omni-channel and consumer experience (strategy).
- Side C: 360º digital marketing and customer acquisition (tactics).
When the rays of exponential technologies hit the new business prism, it breaks them down and transforms them. This reveals a new way of managing based on these three strategic perspectives.
Managers and professionals find it difficult to manage a business (lower base) in an increasingly digitalised world (higher base). The two bases cannot be connected without building new sides or pillars.
Three new pillars
To build your own prism, you must first change your mindset and value the concepts of agility and adaptation to new working models.
It is then time to study the new consumer, who is more intelligent and active than previous generations. Only then will you be able to approach them through the channels they most frequently use, and strategically design an omnichannel experience for them.
Finally, you can complete the prism by transforming your marketing strategy into a 360º plan that attracts, charms, and conquers the customer.
A glimmer of hope
The business world is experiencing a great storm, provoked by the irruption and consolidation of innovative technologies. But, if we look through the right prism, which we will develop in a professional meeting from 21 to 23 September, we can project positivism, confidence, and enthusiasm.
Executives, managers, and professionals who know how to build their own prisms can imagine a different and smarter way of doing business. Our world is constantly changing and is full of revolutionary technologies - and these changes demand a transformation in business strategies.
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