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My trip to W. Africa is winding down. What an interesting time to be in the region–multinationals are quickly entering the red hot telecom field–the last growth frontier in the industry. These new players are looking to hit the ground running. One thing is certain: consumers here will be exposed to a broad array of new services and enticements. Consumer demands will grow–radically–and power will shift to the consumer as it has in more other hypercompetitive markets.
How should businesses respond? We see exciting opportunities for companies to leapfrog the traditional approaches that firms in developed markets have struggled with in the past. Firms that make the most of their business intelligence and continually seek out new ways to gain new insights about their performance and their customers should have the upper hand.
There’s no magic bullet. Ultimately, it boils down to getting the fundamentals right. Simplicity and agility are critical. But companies that tighten up their business processes and align their people around a clear, customer-focused strategy can gain a serious competitive advantage.
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Tags: africa business, Emerging Markets, telecom, Telecommunications
