Wednesday, July 15, 2015

How can large enterprises compete with new-age digital startups?

Chief Executive magazine recently featured an article by Nitin Rakesh on how large enterprise can compete with digital startups. The article is available at the following links:
Retraining Goliath to face digital David

The article advises large enterprises to capitalize on their strengths - i.e.

a) Utilize financial power to acquire digital competitors - How Allstate acquired Esurance..
b) Leverage existing brand equity - How Amex partnered with Walmart to launch Bluebird..
c) Mine existing customer data - Leverage customer insights to deliver highly personalized services.
d) If possible collaborate rather than compete with digital startups.

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