embracing business evolution - building enterprise effectiveness

Welcome to Today’s Webinar

Questions

Ground Rules

• Attendees are in listen-only mode• This webinar is being recorded for future on-demand playback• Your participation represents acknowledgement that we are recording• Tweet questions & comments to: #WEvolve

Windows Mac Tablet

Presenters

Candace Enman, CPA, CAPresident, WelchGroup Consultingcenman@w-group.comwww.w-group.com(613) 236-9191 x195Twitter: @welchgroupca.linkedin.com/in/candaceenman/

Bron Vasic, CPA, CA, CMCChairman, WelchGroup Consultingbvasic@w-group.com613-809-0358www.w-group.comTwitter: @bronvasicLinkedIn: http://linkd.in/1gRKbVM

• Definition: “Business Evolution”

o What does it entail?

• Why is it difficult?• Stages of Business

Evolution• Adapting to Change• Emerging Trends

What we will cover today

• Slow process of change• Does not occur in a straight, steady progression • Constant adaptation is the main feature of evolution• Preservation of whatever is working well• Challenges status quo• Changing to suit emerging trends

Definition: ‘Business Evolution’

• Commitment of Owner

• Products/services

• Processes / technology

• People / succession

What does it entail?

• Fear

• Skillset & Culture

• Road map

• Emotionally healthy

Why is it difficult?

Stages of Business Evolution

Why is adapting important?

Intentional process to challenge where you are:– Response to change– Managing change– Defining success

Examples

Apple• 1998 - Introduction of the iMac

(easy to set up desktop & pretty)• 2001 – iPod released• 2003 – Apple launched iTunes store

(entry into digital music sales)• 2007 – iPhone released

(entry into smart phone market)• 2010 – iPad released

(jumpstarted the tablet category)

Examples

Nespresso• Boutiques• 24 hour call center• Apps for iPhone &

Blackberry• Website

Examples

Grand & Toy/Office Max• Retails stores – office supplies• April 23/14 – close the remaining

19 locations in Canada (3% of its sales)

• Solely internet-based retail service

Examples

RCA• #1 TV retailer• Expensive• Didn’t see value in positioning

TV’s to the masses• Along came Sony

Kodak• #1 in industry• Ignored digital trend

• 41% of people now buy products or services online

• 2/3 of Canadians have made an effort to buy local or

Canadian made products

• By 2031, 25% of Canadians (approx. 9 million people)

will be over 65 years old, compared to 14% today, so

the health awareness trend will only accelerate

• More consumers are looking for sustainable/‘green’

products & will pay more for ethically made products

Emerging trends

...how will you manage it?• " An entrepreneur searches for

change, responds to it and exploits opportunities. Innovation is a specific tool of an entrepreneur hence an effective entrepreneur converts a source into a resource.” – Peter Drucker (1964)

The only constant is change…

1. Embrace Evolution

2. Embrace Uncertainty and Challenge Status Quo

3. Express your Passion in What you Do

4. Build Enterprise & Personal Effectiveness

5. Bring in the Missing Ingredient – “Strategic Direction”

Be Better, Be Balanced

Q & A

Candace Enman, CPA, CAPresident, WelchGroup Consultingcenman@w-group.comwww.w-group.com(613) 236-9191 x195Twitter: @welchgroupca.linkedin.com/in/candaceenman/

Bron Vasic, CPA, CA, CMCChairman, WelchGroup Consultingbvasic@w-group.com613-809-0358www.w-group.comTwitter: @bronvasicLinkedIn: http://linkd.in/1gRKbVM