A Quote by Samuel J. Palmisano
From now on, the technology companies that succeed will be those that have developed skills at listening and a sophisticated understanding of their customers' industries.
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I believe that technology has the potential to change the fate of nations, industries and companies, as well as the context of our lives. I want to help build the companies that take the risks needed to make those kinds of real changes in the world.
Generally, the technology that enables disruption is developed in the companies that are the practitioners of the original technology. That's where the understanding of the technology first comes together. They usually can't commercialize the technology because they have to couple it with the business model innovation, and because they tend to try to take all of their technologies to market through their original business model, somebody else just picks up the technology and changes the world through the business model innovation.
Rural technology is moving from kind of the back office to where everything, every company - sales, marketing, customer acquisition, new product development, media - all industries are becoming technology industries. And it's not information technology: it's business technology.
As the technology matures, it becomes less and less relevant. The technology is taken for granted. Now, new customers enter the marketplace, customers who are not captivated by technology, but who instead want reliability, convenience, no fuss or bother, and low cost.
Marketing is your battle plan for the sales team - it's about defining the landscape. Marketing is doing cohort analysis and understanding exactly what possible customers are out there. It's understanding not only which customers will respond to what messages, but also how customers will become clients if you include certain product features.
Your average pop song or film is a very sophisticated item, with very sophisticated ways of listening and viewing that we have not really consciously developed over the years - because we were having such a good time.
Your average pop song or film is a very sophisticated item, with very sophisticated ways of listening and viewing that we have not really consciously developed over the years - because we were having such a good time
Quite often startups were first out of the gate with a sustaining technology. But somehow the leaders got the technology and stayed atop their industries. Sometimes they acquired the startup; sometimes they just developed the technology as a follower and used their muscle and mass to win. But they always won.
I know firsthand that the characteristics of a great engineer - problem-solving skills, a deep understanding of technology, and a results-driven mindset - are the exact same things that any executive, in any industry, must have in order to succeed.
With the advent of wearable technology, companies will soon be able to better provide ads to customers based on their real-time activity.
During my administration, we've welcomed a broad and diverse group of industries to New Mexico, including high-tech and traditional manufacturing, health care, information technology and finance. Some are homegrown New Mexico companies; others are global leaders in their industries.
They have a policy in China for their big companies called "Go abroad." It's a rational thing for both the company and the country to say, "We want big, successful companies." Particularly in areas where they need it: agriculture, energy, technology. I think banking, too. One or two have bought a trading house. Some have already begun expanding around the world. Of course they're going to have those ambitions. Why wouldn't they? They're just doing it methodically. It's a logical strategy and, well-executed, they will succeed.
More and more major industries are being run on software and delivered as online services—from movies to agriculture to national defense. Many of the winners are Silicon Valley-style entrepreneurial technology companies that are invading and overturning established industry structures. Over the next 10 years, I expect many more industries to be disrupted by software, with new world-beating Silicon Valley companies doing the disruption in more cases than not.
Companies that grow for the sake of growth or that expand into areas outside their core business strategy often stumble. On the other hand, companies that build scale for the benefit of their customers and shareholders more often succeed over time.
Often, very talented technical people find it extraordinarily difficult to take the viewpoint of customers, who are often ignorant about the technology and who may have strong and perhaps incorrect prejudices about it. The technical people may believe, deep down, that they know better what customers "should" need. Customers, of course, have a different perspective. They want products that will solve customer problems and provide other customer benefits, and will do so without undue risk or cost. Not infrequently, customers view advanced technology itself as a risk.
Listening to other companies' customers is the best way to gain market share, while listening to the visionaries is the best way to create new markets.
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