Change for the better
We’re changing to meet the demands of our customers – it’s what any business must do to remain competitive.
We have looked at several high-profile businesses – McDonald’s, Apple and Lego – that reacted quickly to their rapidly changing market, driven by the changing needs of their customers.
Watch the above RMtv video to hear how colleagues think we need to change to keep up with the likes of Apple, Lego and McDonald’s.
McDonald’s today has almost 1,300 restaurants. But it hasn’t been immune to change, especially with new chains such as, Shake Shack and Five Guys keen to grab market share and environmentally conscious alternatives striking a chord with younger consumers.
After its worse UK trading results in 2014, the company reacted quickly. A major UK investment introduced touchscreen kiosks, free Wi-Fi, iPads and smartphone chargers. There’s also table service and even McDelivery, tapping into Uber Eats’ growth with delivery direct to diners’ doors.
Today we know Apple for its innovation and intuitive technology. But that’s not always been the case. When Steve Jobs was removed from its board in 1985, it lost that reputation and was close to bankruptcy when he returned.
But with devices like the iMac, iPod and iPhone, it’s changed technology as we know it and created a devoted customer base. Apple understood that everything can be improved by focusing on what wasn’t working in its marketplace and changing.
Industry expert Dave Birss, said: ‘I think Apple have been incredible in the way that they have never been first to market with a product. But when they come to market they come just before the wave of change happens.
‘And they do something that’s better than the competition, so that when the masses come along they are there to ride that wave.’
In 1998, toymaker Lego faced the first deficit in its history. With losses of $210m posted five years later, it began developing products tied in with films such as Star Wars and Harry Potter, and later its own movie franchise plus complementary video games.
Its desire to embrace change, instead of fearing it, allowed Lego to survive and prosper.
