DIGITAL VENTURES IN THE NEW NORMAL

COMMUNITY WEBCAST

16 APRIL 2020

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100-HOUR LAUNCHPAD:

CEO CHALLENGE

GROWTH EXPERIENCE

“If Necessity is the mother of Invention, then COVID-19 might just be its father.” What does the future look like for businesses now that digital transformation has become a need-to-have rather than a nice-to-have?

Andre Yap and Miguel Aranaz of Ignite House, together with Venus Navalta (IPG Mediabrands), Diane Chua (Tribal Worldwide), Howard Go (Go Rewards) , and Jaypee Soliman (Unionbank), weigh in on the current realities and emerging opportunities in digital ventures brought about by our New Normal.

“If Necessity is the mother of Invention, then COVID-19 might just be its father.” What does the future look like for businesses now that digital transformation has become a need-to-have rather than a nice-to-have?

Andre Yap and Miguel Aranaz of Ignite House, together with Venus Navalta (IPG Mediabrands),
Diane Chua (Tribal Worldwide), Howard Go (Go Rewards), and Jaypee Soliman (Unionbank), weigh in on the current realities and emerging opportunities in digital ventures brought about by our New Normal.

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GROWTH LESSONS

KEY TAKEAWAYS FROM THIS WEBCAST

KEY TAKEAWAYS
FROM THIS WEBCAST

No way to go but digital

With social distancing becoming the norm, companies are scrambling to get into the digital space in order to survive. According to Venus Navalta, if there’s anything this crisis has thought us, it’s that digital transformation is largely driven by customer needs rather than just improving productivity. Howard Go adds that innovation does not have to be perfect in the first try, it just needs to be served up fast and within one’s capabilities. He gave the example of a local drugstore chain who was able to release a bare-bones version of their online store pre-pandemic, which enabled them to pivot more quickly and serve their customers better during the ECQ.

Innovation starts with empathy

Innovation is not about the shiniest new technology. It is about people. Diane Chua could not have said it any better: companies who are empathetic and agile are the ones who will emerge as winners in the new normal. In these times, we are called to bring out our humanity and creativity in solving people’s most compelling pain points, with technology serving as our enabler. According to Diane, “It’s about looking at human behavior and building solutions around it.”

DIGITALIZING MSMEs

MSME is one of the hardest hit sectors during these uncertain times. However, a lot of micro and small businesses remain ill-prepared to go digital. According to Jaypee Soliman, there are three zones of opportunities to focus on in order to help SMEs. First is educating them on how to make the necessary transition. Second is alleviating the fear of how much the transition will cost. Third is a combination of pivoting towards essential goods and taking advantage of the hyperlocalization of business induced by the lockdown.

The business of doing good

As companies the world over pitch in to help out in the fight against COVID-19, now is a good time to rethink why our companies exist in the first place. CSR can only do so much in terms of solving societal problems. Guest participant Tricia Quiambao submits that big businesses must consider Shared Values–the act of integrating doing business with doing good. How leaders shape their organization needs to be anchored on gaining profit by solving a particular slice of humanity whose pains need to be healed.