It is an evidence that new technologies have revolutionized our lives in the latest years, with new devices and unimagined procedures that surprise us over again with every new gadget or update. All this is the result of a hard research and development procedure, that has changed our way of seeing the world and relationships as well as our vocabulary.
This technological transformation has affected all aspects of our lives, including the business level, updating the most efficient procedures and creating new business models based on new technologies.
Whether you are a businessman, an entrepreneur or a business-lover, we recommend you to update your vocabulary with these three essential concepts to understand and start becoming part of a new business paradigm:
- Hyper Connected Economy: As we mentioned in the beginning of the post, the creation of Internet and mobile devices has brought the development of intelligent technologies which let people, enterprises, societies and even electrical appliances be interconnected everywhere and at any time. All this has lead us to the Hyperconnectivity age, where new technologies, such as the cloud, let people cooperate across every borders and react to all kinds of circumstances quickly, what means a more efficient and rapid management for the enterprises.
- Business Model Canvas: It is am efficient tool for strategic and business management, used both by startups and already consolidated enterprises. This method lets reduce the time needed to develop competitive products and services at the lowest possible cost. It is composed by nine blocks, corresponding to the key areas for enterprise development: Customer Segment, Value Proposition, Customer Relationship, Distribution Channel, Incomes, Key Activities, Key Resources, Key Partners and Costs Structure.
- Exit: This is the turning point in every startup development, it happens when, after the initial phase, the enterprise faces a new one that can be very profitable or, on the other hand, lead it to financial ruin. We are talking about the moment when the enterprise stops depending on its investors financing and chooses among the sale, fusion, entrance to the Stock Market, repurchase of units from investors and, in the worst case, the closure of the company.
“Innovation is not connected to perfection… It innovates and pushes, then your environment will help you to improve”
Bernardo Hernández, Google