5 Companies That Have Successfully Transformed
Everyone today knows Samsung as a company that produces electronic devices, including cell phones. But did you know that previously Samsung was a noodle producer?
When building a business, we are required to be observant about the opportunities that exist. Companies must make a transformation so that they can withstand market changes. The decision to carry out this transformation often causes a company to sell a different type of product or service from when it first started operating. Five Companies that are getting bigger due to business transformation:
- Amazon
Jeff Bezos started operating Amazon from a small garage he rented in 1994. He sold books online, then diversified the product by adding music and videos in 1998.
Success in dominating the online book market did not make Bezos satisfied. His company transformed by starting Amazon Web Services (AWS). AWS provides data on website popularity, internet traffic patterns, and other statistics for marketers and developers. In 2006, AWS began offering IT infrastructure services to businesses in the form of web services which are now commonly known as cloud computing.
This transformation has not only made Amazon a big player in cloud computing services, but it has also helped many startups. Cloud computing services allow startups to spend less on IT infrastructure.
Mark Zuckerberg started Facebook as a social media situation while he was attending Harvard. But now Facebook is turning into the world’s digital advertising company.
As quoted from the world’s largest ad agency GroupM, around 84 percent of the world’s total digital advertising flowed to Facebook and Google in 2017. The dominance of digital advertising by Google and Facebook has an impact on online media advertising revenue, which shares are shrinking.
To expand its business line, Facebook has made acquisitions in 65 technology companies. Some of the companies that have been acquired include Instagram and WhatsApp.
- Gojek
We previously knew Gojek as an application that provides transportation services. But do you know that many people predict that Gojek’s future lies in the GoPay service?
Quoted from Tirto, Nadiem Makarim said that all service lines run by Go-Jek are very close to making a profit, except for the transportation business lines, namely Go-Ride and Go-Car. The two services that have become Go-Jek’s image have not contributed any benefits.
GoPay is a payment financial technology application that is widely used for digital transactions both online and offline. Currently, GoPay has been connected with banks, many merchants, and also other financial institutions. GoPay even collaborates with fintech Peer to Peer lending to provide Pay later services.
- Netflix
Previously, Netflix was more focused as a distributor of digital content produced by other parties. But Netflix is changing its strategy by producing original content itself.
The Original Netflix production has actually attracted the attention of streaming-on-demand service lovers. Some of the popular series include The Queen’s Gambit, The Crown, and Kingdom season.
This original series makes consumers who want to enjoy it have to subscribe to Netflix because it is not broadcast on other streaming-on-demand services.
- Fuji Film
Kodak and Fuji Film are the two major photographic film manufacturing companies that dominated the market in the 1980-2000 era. Unlike Kodak, which went bankrupt since entering the digital era, Fuji Film was able to survive by diversifying its business.
According to the Harvard Business Review, Fuji Film is one of the world’s 20 companies that have successfully transformed the past decade. Its flagship business line now depends on Medical Imaging/healthcare.
Meanwhile, their image business currently only contributes around 14 percent of total revenue. However, they are still trying to maintain their original business by releasing mirrorless cameras.
About SGU
SWISS GERMAN UNIVERSITY (SGU) is an international university in Indonesia, was established in 2000 as a joint effort between Indonesia, Germany, Switzerland, and Austria. We are the pioneer in offering international curricula in Indonesia.
Qualified students can graduate with a Double Degree from Indonesia and Germany, which SGU provides in cooperation with partner universities; surely a valuable tool for your future careers. Ever since its establishment, SGU has been dedicated to delivering quality education in line with international standards and aims to develop skilled professionals who meet the demands of the industry. To achieve its objectives, SGU offers quality-oriented learning through 12 Bachelor’s Degree Programs and 4 Master’s Degree Programs ranging from Engineering, Information Technology, and Business to Life Sciences and Social Sciences. Furthermore, with small class sizes, and with English as the medium of instruction, you can look forward to pursuing your tertiary education and degree with full confidence.
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