Businesses need to adapt to new marketing challenges, say experts

Business Bureau, Gulf Today

A bungled corporate restructuring can turn a good idea into disaster. Organisations across the GCC region are attuned to the urgent need to transform their business and operating models, considering evolving customer behaviors, disruptive technologies, regulatory policies, uncertain futures and extraordinary opportunities.

In this article, Stuart Lassor, an independent Economy & Investments Analyst looks at operative strategies which could change companies that look as though they are headed towards the rocks and believes that agility and people are the most valuable currency in business today.

Businesses today must adapt to entirely new marketing channels (web and social), decide how to invest in and utilise new technologies, and compete on a global stage — things that were barely imaginable two decades ago. Moreover, amid global and regional economic crisis, having to predict customer trends, market trends, etc. is vital to a changing economic climate, but not every CEO is Warren Buffet.

Many leading companies today are facing tough situations that directly or indirectly affect their growth and output, causing them to eventually wrap up and leave the local market. It has therefore become vital to hire consultants who not only understand your business but are also have their ear to the ground when it comes to knowing the pulse of the market as they are increasingly becoming an important part of the business culture — bringing in efficiencies, lower operational costs and unbiased business analysis, thus saving time and increasing competitiveness and meeting regulatory requirements but also to seek advice on how to build internal capacity. Consultancy in business fields empowers organisations to improve their efficiencies, build goodwill among investor community and hoist performance level.

Whatever the size of the organisation, business consultants are of great importance as variety of innovative ideas are focused and customised to your needs with an end goal of turning the business into a triumph.

However, the type of strategy needed in today’s unprecedented business environment is quite advance and complex, and in this case, a consultant tries to improve your business bottom line so that you can take your business to an utmost success.

As the complexity risks in business increases, hiring, developing, and managing effective business functions has become increasingly difficult. Moreover, we anticipate implementation gaps when it comes to adopting any new regional guidelines and practices. It will therefore be prudent to bring in subject matter experts with in-depth knowledge and strong governmental relations to advise on success strategies for businesses ensuring nothing is missed. Dubai-based Bluemina, founded by a Canadian entrepreneur is one such example of a successful business model. The firm offers citizenship and residency by investments to its clientele. Today, with over two decades of varied experience and growing team of advisors and, with strong familiarity and inter-governmental relations, the organisation is well equipped to offer clients’ the most suitable and cost-effective path to a brighter and global future.

Another example worth citing is Dtec - since its launch in March 2015, Dubai Technology Entrepreneur Centre or Dtec has grown to become home to more than 800 entrepreneurial companies that represent over 70 nationalities. Dtec has been running as an entrepreneurial ecosystem since 2015 - and the Middle East’s largest start-up centre is about to become even bigger. It is launching a second facility - a technology entrepreneur campus of approximately 10,000 square metres. Managed by experts, May 2017 saw the launch of Dtec’s award-winning Dubai Smart City Accelerator, which saw a combined investment of $5 million (Dhs18.36 million) from DSOA and a range of key partners: Smart Dubai, Dubai Chamber, Visa, du, RIT and Orange Business Services.