A few interesting facts about the world we live in: global communications connect more than 4.5 billion people (more than 65% of the world's population); 350 million active users on Facebook spend on average 55 minutes per day on the site; the 600 million mobile broadband subscriptions around the world now exceeds the number of fixed broadband subscriptions.
Technological innovation, services, products and solutions are advancing so fast that it's increasingly difficult to keep up. The world is already familiar with Kindles, Wiis, iPods and iPads, but it will be the meters, sensors and SIMs that will enable new business models and redefine the industrial landscape. To ensure future growth, companies must consider implementing a strategy that will place them at the head of the innovation pack while their competitors are just beginning to adopt the growth mentality.
Developing better, more customer-centric innovations requires using analytic technologies and solutions that provide a deeper understanding of the unique interests and desires of customer segments. This enables companies to target profitable customers more effectively. It is in this area that operators have an opportunity to build upon a uniquely advantageous position. By leveraging the copious data they possess about their customers, they can enable services based on personalized content and advertising that is more relevant.
Optimizing the business and operations of a telecom operator to free up cash and capital to invest in innovation has never been more important. The industry is in the midst of a massive wave of investment in 4G networks and fiber networks to the home, and all this traffic needs to be managed in part by driving out cost in the legacy business wherever possible.
A commitment to open collaboration - and the ability to manage an extended array of partners and alliances - is a distinctive feature of successful innovators in the complex global ecosystem.
Managing new product development more effectively is critical to operational excellence and innovation. True operational excellence in this environment means restructuring an operator's product and service development lifecycles to work across and synchronize a more fragmented set of players, both internal and external.
Attracting top talent
Working on the right compensation plans, putting in place a more attractive and supportive work environment and becoming more actively engaged on university campuses will improve the marketplace perception of a communications company as a "best place to work."
In the new world order, growth remains the number one priority. Only a handful of players will emerge in a stronger position than their competitors. Driving a customer-centric innovation agenda and developing skilled workers and leaders is just as important as any business model or network architecture. Those who understand and overcome these challenges will become the technology leaders of tomorrow.
Gene Reznik is global managing director for the communications industry at Accenture Gene Reznik is the panel moderator at the CEO Perspective, CommunicAsia Summit today.