John Lark, Senior Director of Global Cloud Solutions Marketing at Ariba, an SAP company, discussed the shift toward a “networked economy” during his presentation at the 2014 Chief Financial Officer Leadership Forum in Los Angeles on Oct. 22. In his presentation, Lark noted today’s businesses need communication between their internal systems, employees and external partners.
Lark pointed out that business moves fast, especially in today’s always-connected global marketplace. To succeed, today’s businesses have to move faster than their rivals, Lark added. He also noted today’s businesses need to change their expectations: “My expectations of how I interact with you as a business are different, and that’s what I’m asking each of you to think about. As we looked at this networked economy and the direction that we’re going, our expectations need to change; our expectations of our partners, and our expectations of ourselves [need to change].”
Looking at a business differently, Lark said, can have far-flung effects on both a company and its customers. A business that wants to optimize its operations, Lark said, needs to find ways to make the most of its resources, and a non-traditional approach to spending and investing can help this business stay ahead of its rivals. Change is vital, and a business that is committed to change can thrive in today’s global marketplace, Lark added: “If you are committed to the change; if you are committed to becoming best-in-class in this, if you’ve created the vision of where you want to go, then it’s simply a matter of where you take those next steps.”