Cisco, the renowned Internet giant has unique growth strategy based on identifying and driving market transitions. Its CEO believes that transition is a key factor for an organization to succeed in this emerging market, technology being its vibrant tool.
“Nothing is worse than missing an opportunity that can change your life” truly explains that grabbing the opportunity at right time is crucial for any organization. Cisco CEO is aware that transformation won’t be helpful unless it is predicted and adopted at right time. Many big firms such as Compaq, Sun Microsystem disappeared just because they were not able to understand the market transition at an appropriate time. Even Cisco lost its battle with Apple while launching Flip, the mini-video camera. Due to delayed in understanding the market and announcing the technology, Apple launched its iPhone with high shoot definition video feature that disrupted the Flip. Eventually, Cisco had to close the Flip production. After this big loss, Cisco planned to improve its strategy for not repeating the mistake.
Cisco planned to focus on areas such as cloud computing, internet of things, security, which they predicted to be the future of the industry. They developed technologies to connect devices to the internet and this strategy helped them to be the center of attraction in 2014 Consumer Electronic Show. The demand for internet technology suddenly raised in all fields such as smart parking, smart street light and proved to be an enormous success for Cisco. Soon after a year, its cloud computing transition evidenced a boon to the organization as its demand increased rapidly in the market. Cisco actively embraced all the emerging technologies to stay ahead in the growing market.
Cisco strategies dominated it over other industries not only in business requirement perspective but also in internal cultural requirements. Below are some of their important strategies to deal with the fast-growing market.
1) Innovative technologies: Cisco adapted all recent technologies to win the race, one such example is adopting cloud technology. It provided simple, secure, automated system to customers and transformed their work into a hybrid cloud environment. It further enhances their business benefits and helps customers in securely navigating on the cloud drive.
2) Customer-Centric: Cisco strategies its plan by keeping customer outcomes at the center. It works on finding methods to create new and profitable relationships with customers. Such as it created simulation tool that allows customers to setup visual models for reviewing data quickly and in robust ways. Thus, the organization believes that acquiring and updating customer requirements motivates them towards customer excellence.
3) Acquisition: It target organizations that prove as an asset to Cisco, such as immense talent and technologies, advanced products and solutions, and new go-to-market and business models. It has acquired almost more than 174 organizations and one of its biggest acquisition is of AppDynamics in 2017. This organization focuses on managing the performance and availability across cloud computing environment and data center. So, Cisco acquired this to improve cloud performance and management.
Thus, we can conclude that strategically racing towards the future is the major reason for this organization’s success.