In the last few years, leading companies like Amazon, Google, and Apple have been creating new shapes of industry with their world-changing business strategies. This shows that while the industry is sleeping, few companies are rewriting the new rules of competition. These Silicon Valley companies are not simply reshaping the industry. Instead, they are redefining how the businesses transact, lead, and do their strategies.
World-Changing Business Strategies Used by Large Companies
If you are visioning to establish a world-changing business, you may learn from how Silicon Valley companies design their strategies. The following are some world-changing business strategies to inspire you:
Agile Strategic Approaches
Business strategy should not have been limited to product development methodology. Instead, it must be aimed at developing the way of doing business. Agile business strategies require the companies to move and respond quickly to the changing market conditions. This means frequent meeting. As a result, the strategic team is able to reformulate and review the business strategies.
Being a Platform Companies
The term platform company may sound like new thing in business. Actually, this is not a brand-new term. Platform companies refer to businesses that create and build the platform from the ground up. You create a different business model, which can be easily adopted by others. In other words, platform companies serve like trend setters in business.
Being a platform company is a powerful weapon to obtain competitive advantage. Take the three companies, Google, Amazon, and Apple as examples. These companies make decisions based on data driven by artificial intelligence and algorithms. These technologies allow the customers to make real-time decisions about their buying behavior.
Unique Value Proposition
The world-changing business strategies may come from innovation in business model. Unique value proposition means unique customer experience. This way, you can introduce the business model to the target customer in a more effective way. Give the unique value, then the customers will remember you!
Disruption that Scales the Business
Designing world-changing business strategies requires you to think of whether the existing business model is still relevant or not. You need to identify which aspects of your business have been outdated. Disruptive strategies in business mean replacing the outdated models with new offers that allow the customers to cut the costs of ownership.
However, disruption model per se is not enough. What you need is disruptive business model that scales up your profit at the same time. Take Tesla’s models as example, Its Model S is considered disruptive. However, only Model 3 is considered being able to scale up Tesla’s volume of sale and profits.
Unique Pricing Strategies
How you price the products or the services can change the world. This is what Silicon Valley companies, like Uber and Airbnb, do. These companies implement usage-based pricing models. The customers only pay for the products or services, which they actually use.
Unique pricing models do not have to be expensive. Instead, they allow the business to use lower-cost prices for their products. This is actually a great way to differentiate your business from others. Make sure to check out more world-changing business strategies used by Silicon Valley companies.