Consumer-Focused Enterprise - The New Universal Standard?

What is consumer-focused enterprise?

Consumer-focused enterprise is a new pursuit that focuses on the consumer perspective at every level and function across an organisation (Carpenter, 2013, pg.3).

Many organisations have begun to adopt this new type of enterprise and focus on the customer's outlook. This is due largely in part to two main factors:

1. Political Reform
2. The Digital Revolution

These two factors have transformed the global economy in unprecedented ways and forced companies to adjust the manner in which they conduct their business. 

Political Reform

Political Reform has allowed consumers to possess newfound powers in the global marketplace. In the past, the people of countries like China and India were kept down by their governments. Much needed political and economic reforms swept those countries and others by storm. This shift has led to more prosperous economic growth for these countries. As a result, consumers in these countries  have gained large amounts of purchasing power and played a role in the adoption of a consumer-focused enterprise.

The Digital Revolution

Technology is a force to be reckoned with. Let's take the United States of America for example, in the year 1984 the World Wide Web had yet to be invented, only 8% of households had personal computers and cell phones were labelled as 'bricks', extremely big and heavy to carry around (Fischer-Baum, 2017, pg.1). 

For years scientists and engineers have been making great advancements in the technological sphere. From 1984 until now, in a span of less than 40 years, technology has advanced faster than predicted! We have holograms, smart phones, the World Wide Web, and QR codes. Purchasing has become so much easier for consumers. But on the other hand, in more recent years thanks to the digital revolution, information has become a variable companies need to focus on. Consumers now have information available to them 24/7 at their fingertips. Comparison of companies has become that much easier. 

I believe all companies need to take on a consumer-focused approach moving forward. Technology will just continue to advance, even more rapidly. On top of that, numerous countries that have previously been held down, like Mexico, are coming up. Companies need to take action now and adjust their approach.

References:

Carpenter, G. (2013). Power shift: The rise of the consumer focused enterprise in the digital age.

Fischer-Baum, R. (2017). How technology has changed over the last three decades - Washington Post. [online] The Washington Post. Available at: https://www.washingtonpost.com/graphics/2017/entertainment/tech-generations/.