London, a city of innovation and progress, recently played host to our CEO, Vivek Joshi as he engaged with customers, prospects, partners, and investors. During his travels on “the Tube,” the iconic “mind the gap” announcement became more than just a safety precaution – it metamorphosed into a powerful metaphor for the challenges faced by Industrial OEMs in Industrial aftermarket transformation.
Vivek Joshi, CEO of Entytle, shares his insights in his latest article for the Forbes Council. In a landscape marked by rapid evolution, Aftermarket leaders grapple with new complexities that demand groundbreaking solutions. The article unveils a holistic perspective gleaned from years of experience working with both large and small customers. This forms the bedrock of our Aftermarket Readiness Assessment framework, a guiding light for those charting a successful course in their transformation journey.
At the heart of this framework lies a key revelation – the presence of distinct gaps between various stages of transformation. The journey isn’t linear; it’s a symphony of people, processes, and technology coming together in harmony. The pitfalls of an unbalanced approach are evident as companies focus solely on one aspect, leading their transformation astray.
Certain gaps, like stars in a constellation, demand immediate attention. From Vivek’s extensive observations, the “skill-will” gap among employees emerges as a potent driver of transformational failure. It’s a dual challenge: bridging the gap between skill deficiencies through training and reskilling, and navigating the larger obstacle of shifting mindsets to embrace novel approaches. This gap is further amplified by external pressures and dynamic market forces that compel companies to rethink their customer engagement strategies.
Vivek emphasizes the inadequacy of outdated tactics like the “spray and pray” approach, underlining the need for personalized customer experiences. He calls for a paradigm shift, transitioning from intuitive methods to data-driven strategies.
Vivek sheds light on a prevalent oversight – the disregard for people-centric changes. He recommends prioritizing reskilling and career advancement, thus empowering employees for the evolving landscape. Amid rapid global changes, leaders must not only bridge internal gaps but also navigate external disruptions. Vivek’s article underscores the urgency of seizing opportunities promptly.
Discover profound insights in Vivek Joshi’s comprehensive Forbes article. The Forbes Business Council offers a platform for growth and networking, beckoning aspiring leaders to join esteemed business echelons. Are you prepared to ascend?