Response 1:
Fascinating perspective. The opportunities to stimulate growth from within our only limited by our approaches. Ceasing to find new ways to generate growth is characteristic of lack of creativity. As per Jack, "Growth is the elixir of business". Internal or organic growth is one option for stimulating product or service development.
Constantly seek out new opportunities. Alternately, growth can also emerge from mergers and acquisitions. Despite the approach, it is important to never stop growing. Never become comfortable with our prior success. We should strive to make growth an active part of each of our respective organizations Looking back at week four, I explored and described Amazons environmental factors. Respectively, Amazon is extremely successful in terms of innovating new growth opportunities.
They are constantly raising the bar, as they remain competitive. The company continues to build off its prior successes; as it uncovers new and exciting approaches for meeting current and future customer demands. From the surface, is difficult to perfect on perfection.
However, there is always opportunity for growth. As auto manufacturers are pushing towards fully autonomous vehicles, Amazon has the opportunity to pave the way for cashier free grocery stores. As per its most recent acquisition of Whole Foods along with the growing popularity of Amazon Fresh", combined with feature drone delivery capabilities, Amazon has the potential to completely reshape the grocery industry.
The introduction of "Amazon Key" also allows for the provision of packages to be delivered inside the customer's household. This eventuality of packed groceries has not yet been introduced, but I can see it taking shape in the near or not so distant future.
To add to that level of convenience would be the benefit of having groceries remotely ordered delivered and placed inside one's refrigerator, while we are at work or away from home. Based on an article reference from Baron's, industry professionals also assert that Amazon's three biggest opportunities would come from increased advertising, membership subscriptions and from the issuance of credit cards or growth of its financial services division.
In all actuality, any or all of these possibilities are potentially powerful. Amazon is a titan which continues to reinvent itself to reshape what it means to be cutting edge. As a brand their level of growth and continued consumer confidence seems unstoppable. Amazon represents the epitome of a growth company.
Response 2:
This week allowed me to look at Noble Systems and see that we are already doing what we need to do to sustain growth.
For probably the largest part of Noble Systems history they were adamant about having organic growth which includes "market-share growth, share-of-wallet growth, and growth through expansion (WK7 L1). Though with the last decade, there were several M&A's and and industry expansion through these acquisitions and creating new products that can be used in more than just outbound call centers.
This started a trend of moving forward with new product lines, growth with larger customers and in different markets that we typically didn't market before.
We already sell a (WK7 L2) solution instead of just a feature, but this too can be expanded on as we look for new ways to help both existing clients and future clients. I think the most important thing we learned this week was to have the customers stay in contact with us and only us for the length of the consumption chain and I feel that Noble Systems does well.
This chain offers unique opportunities for growth as we have hands on learning from the customers. From this weeks readings, Noble Systems needs to conduct an analysis of the current market trends and look at not only the existing markets that we compete in, but future ones we could move into.
We have already done customer reviews to see what they want/need, but we could take it up a notch and do operational assessments of our customers and see if they have needs and it is something we can create and provide - moving us into possible new markets and expanding our share-of-wallet growth. Having a combination of organic growth and including M&A is probably the best way for Noble Systems to grow.
Our way of doing business and one of our core differentiators is we don't develop anything outside the call center, so expanding into different markets will have to be carefully looked at. More importantly, risk analysis would need to be conducted to ensure that we have sustainable economic growth and not something that is inefficient.