On that study Ovum tags D+M as a “customer-adaptive enterprise“, identifies and examines the 8 attributes that “create the right conditions for rapid adaptation to ensure persistent customer relevance“.
I recommend you to read the study, which you can find here (PDF), and to open your appetite I share below some of the more interesting statements, as well as the info-graphic with the 8 attributes.
“New CEO and turnaround specialist, Jim Caudill, who had been instrumental at Black & Decker (…) hired a team of largely former B&D executives to get the much-needed transformation under way with the aim to grow the company profitably“.
“Ovum argues that to thrive in an age of rapid and accelerating change and in a global economic environment where growth is hard to come by, firms must develop the ability to sense, respond to, and adapt to change, particularly that which impacts customers and their buying behaviours, expectations, wants, and needs. As cycle times for adaptation continue to shorten, it puts enormous stress on enterprises often held back by legacy systems, processes, and departmental silos. These companies will fail to adapt at the right speed“.
“The core question behind Ovum’s customer-adaptive enterprise research over the last four years has been to determine what it takes for any enterprise to remain persistently relevant to its customers. The term customer relevance was barely mentioned four years ago, but the message that customer relevance must be at the heart of any growth strategy is finally beginning to cut through management thinking“.
“Our research has shown that flying a business on one engine can be fatal. What happened to Nokia and BlackBerry when Apple entered and dramatically changed the smartphone industry, followed rapidly by Samsung, should provide a salutary lesson“.
“Other business leaders have focused attention on shareholder value, but to paraphrase Jack Welch, former CEO of GE, that is one of the dumbest ideas, as shareholder value is an effect, not a cause, of growth”.
“To thrive and maintain customer relevance, any firm must not only deliver a positive customer experience at every opportunity but also create, deliver, and refresh value as perceived by customers on a continuous basis. This demands the ability to understand customers deeply and innovate on a continuous basis“.
“The twin engines of growth – customer experience and continuous innovation – are not departmental challenges, as they have implications for the entire enterprise, its ecosystem of partners, suppliers, and most of all its customers. It’s the CEO’s job to create the conditions where both engines are firing on all cylinders, something that Caudill, aided by his leadership team, has managed to do“.
Good to notice that D+M chose Oracle CX Cloud Suite as their foundation customer engagement platform – including Oracle Customer Data Management (CDM), Oracle Sales Cloud, Oracle Social Cloud, Oracle Marketing Cloud, and of course Oracle Service Cloud “to provide an integrated environment to support teamwork across each functional area and meet all the criteria necessary to create a unified foundation for a more modern and customer-oriented cross-channel engagement capability“.
You can also watch D+M CIO, Scott Strickland, sharing how the company leveraged Oracle CX Cloud products globally to transform the customer experience.