Companies are being creative in how they strive to remain relevant in our rapidly changing world.
When behemoths like Bank of America and UPS are in reality multiple businesses, small businesses need to be on guard constantly, looking for ways to be innovative and creative.
Bank of America is not just a bank. It is also a software company as well as Merrill Lynch, they are always looking for ways to cross pollinate their businesses.
In “The World is Flat” I learned that UPS as a prime example for insourcing, whereby the company’s employees perform services – beyond shipping – for another company. For example, UPS repairs Toshiba computers on behalf of Toshiba. The work is done at the UPS hub by UPS employees.
I am working with the CEO of a local manufacturer and we are reviewing up and down the production cycle, what aspects of the business the client should be involved in. Their products works in unison with others products, should they become a wholesaler of those products?
I believe that this should be an ongoing discussion with most clients. We all need to stay relevant and flexible.