3 X + | Rogério Canhoto | TEDxUCPPorto

Summary

The speaker highlights the challenges faced by Portuguese business managers who are too busy to adapt to the rapidly changing digital landscape. He emphasizes the need for a shift in mindset to embrace cooperation and innovation, rather than clinging to outdated competitive strategies. Through examples like Blockbuster, Kodak, and successful collaborations between companies like Microsoft and Apple, he illustrates the potential of embracing digital transformation and partnerships. The speaker urges the audience to seize opportunities through collaboration, proposing a simple yet impactful action: exchanging business cards to foster potential partnerships that could significantly boost their businesses.

Takeaways

• 📉 Many Portuguese business managers seem too busy to listen and may be unprepared for changes in their industry.
• 🚀 The current competitive landscape is undergoing a significant transformation due to technological advancements, especially digitalization.
• 📈 Traditional management principles are becoming obsolete as new critical success factors emerge.
• 💡 Businesses need to recognize and adapt to the digital revolution to avoid becoming obsolete, like Blockbuster and Kodak.
• 🌐 The new economic model, often called the digital or post-capitalist economy, emphasizes peer cooperation and breaking traditional barriers.
• 🤝 The most significant competition may come from outside the traditional sectors, highlighting the need for cross-sector collaboration.
• 🚗 Companies like Uber and Airbnb illustrate new business models that leverage digital platforms without owning traditional assets.
• 🏆 Competition fosters winners and losers, but Portuguese businesses may benefit more from cooperation due to the country's size and economic challenges.
• 🔄 Innovation and disruption are crucial for revitalizing the economy and creating jobs, rather than relying on gradual business evolution.
• 🧠 A new mindset is essential for success, focusing on cooperation and complementing each other's strengths for mutual benefit.

Q & A

What is the main concern expressed by the speaker regarding Portuguese business managers?

The main concern is that Portuguese business managers are too busy to pay attention to the changes happening around them, which may lead to them missing significant opportunities or facing major setbacks.

Why does the speaker believe traditional management practices are becoming obsolete?

Traditional management practices are becoming obsolete due to the profound technological revolution and digitalization, which are changing communication, socialization, and work methods, thus altering the competitive landscape.

What examples does the speaker provide to illustrate companies that failed to adapt to digital changes?

The speaker provides examples of Blockbuster, which failed to buy Netflix and adapt to digital streaming, and Kodak, which didn't transition from analog to digital photography in time.

What term does the speaker use to describe the new economic model, and what does it entail?

The speaker refers to the new economic model as the 'Crowd Economy,' which emphasizes peer cooperation to develop new business opportunities and involves competition from sectors outside one's own industry.

How does the speaker describe the success of Uber and Airbnb?

The speaker notes that Uber, the largest personalized transport company, and Airbnb, a major player in apartment rentals, are successful despite not owning any transport vehicles or apartments themselves, illustrating new business models.

What is the key message about competition and cooperation in the new business environment?

The key message is that combining competition with cooperation can create more value and success. Companies should seek complementary partnerships to maximize their potential.

What recent example does the speaker give of former competitors becoming partners?

The speaker cites the example of Microsoft and Apple partnering in the field of mobility, which is expected to accelerate their business development threefold compared to working separately.

How does the speaker suggest Portuguese companies should approach the new competitive landscape?

The speaker suggests that Portuguese companies should break traditional rules, innovate disruptively, and adopt a global market perspective. They should also form strategic partnerships to leverage complementary strengths.

What are the three fundamental rules the speaker says managers should follow?

The three rules are: avoid copying what others do (the 'café on the corner' syndrome), act quickly in the global market, and choose partners who complement their business and share a similar mindset.

What practical challenge does the speaker give to the audience at the end of the presentation?

The speaker challenges the audience to exchange three business cards with people around them after the presentation, suggesting that potential partners who can help grow their businesses threefold may be found among them.