Online cycling-class provider Peloton isn’t a tech company. Nor are ride-sharing services Uber and Lyft, work-space provider WeWork, online fashion stylist Stitch Fix, meal delivery service Blue Apron, or content creator and curator Netflix, to name just a few that have been given that moniker.
The overuse of tech as the modifier du jour recalls the Internet-bubble age. In the late 1990s, companies that weren’t centered on clicks or whose online-oriented business was founded in vain added .com to their names to get Wall Street cred and attract venture capital. Now, it seems, tech is — or wants to be — a similarly magic word.
To be sure, digital technology is an enabler, maybe the most powerful one since electric power. Technology’s capabilities have grown to the degree that it not only has become essential to doing business but has transformed entire industries and sectors. For example, with Amazon in the vanguard, technology transformed retail. But Amazon is a retailer, not a tech company. Peloton, with its 21st-century, Internet-connected bikes, isn’t exactly Schwinn. Nor is it the cycling class at your local gym. Nevertheless, Peloton is a fitness company — a tech-enabled one, but a fitness company all the same.
It’s important to draw a distinction between what a tech company is and isn’t not only because mislabeling could portend another stock market bubble, but because management’s attention, like other resources, is limited. A tech-bedazzled management is liable to spend too much time, money, and energy on the underlying technology, or the touting of it, rather than on what will ultimately determine whether the company can grow, scale, and prosper.
هذه القصة مأخوذة من طبعة Summer 2020 من strategy+business.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة Summer 2020 من strategy+business.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Transforming information into insight
Focus on six organizational elements to build a world-class data and insights capability.
THE URGENT NEED FOR SOPHISTICATED LEADERSHIP
The pandemic has highlighted a series of paradoxes inherent to the work of leaders. What comes next will depend on how well leaders face up to them.
The road to successful change is lined with trade-offs
Rather than trying to convince people your change initiative is the right one, invite them to talk openly about what it might take to implement it: the good, the bad, and the frustrating.
Sustaining productivity virtually
Maintaining productivity levels among remote employees is an enduring challenge. Here are five ways to help businesses and employees thrive while people work at home.
FORWARD TO normal
Entertainment and media companies are building business models that are resilient to the enduring changes in consumer behavior ushered in by COVID-19.
How leaders can promote racial justice in the workplace
Embrace four principles to turn today’s diversity, equity, and inclusion initiatives into sustained progress.
CREATING THE OFFICE OF THE FUTURE
In a remodeled world, it is vital for companies to reinvent ways of working.
Consumer companies must take leaps, not steps
As shoppers show how quickly they can adapt to external shocks, retailers will need to radically reconfigure their business models.
Businesses can fast-track innovation to help during a crisis
“Unrealistic” timelines can actually work. Here’s how.
Agility and experience management work better together
Many companies achieve early wins with separate transformational efforts, then stall. But if combined and enhanced using “return on experience,” or ROX, measures, these two programs can unlock each other’s potential.
