We are in middle of a major transformation that will change how we work forever. We have left behind old business models and have entered into a client driven, Service Level Economy.
The Service Level Economy is being fueled by growing client expectations, evolving technology, and a shift towards shorter project timelines. While some view this as a challenge, we see it as an opportunity. The opportunity for service professionals continues to grow. In a report by Mavenlink and Gigaom, “Today, the global professional services industry represents a staggering, $3 trillion commercial opportunity.” For any services professional, it is clear that the need for new models and strategies is urgent.
Service Level Economy Quotes
The Service Level Economy is here to stay, and conversations are starting to happen that surround the phenomenon. Learn more about the driving factors behind the shift and the data surrounding the economic impact of such change. Below is a sneak peak into some of the most influential quotes and stats being tossed around in relation to the SLE (Service Level Economy).
1. “Technology has made it easier to both find and employ contingent workers. What was once unusual, today is quite common. Organizational structures (i.e. a command and control hierarchy) has a fundamental flaw, it is neither flexible or responsive.”
- David Coleman, President of Collaborative Strategies
2. “Digital technology has enabled a new semantic economy where access and scale have been decoupled. When access is universal, or nearly so, size doesn’t really matter… It doesn’t matter so much which assets you own, but what you can access.”
- Greg Satell, The End of the Scale Economy
3. “There's no question that we're competing against companies that we never competed against before: Deloitte Consulting, Accenture, IBM. It's a very difficult competitive market out there, and we just have to be on our game.”
- Michael Roth, Chairman-CEO of Interpublic Group
4. “Not having a headquarters for a company of $30 billion is pretty unique. Everything is digital in terms of communication. This is the way (our millennials employees) work. This new world is very natural for them.”
- Pierre Nanterme, CEO of Accenture, Fortune.com Interview
5. “More than half of all respondents said their organization’s success is increasingly tied to relationships with organizations in adjacent industries.”
- The Ecosystem Equation: Collaboration and the Connected Economy
6. “Service providers today need new models and strategies. They need new underlying systems that facilitate every aspect of their business. Tools aren’t enough. Service providers need a new philosophy.”
- Ray Grainger,Thriving in the Service Level Economy
7. “Publicis has created its new approach to emerging markets... ‘Publicis One’ could be a new model for agencies across the globe.”
- The Drum
8. “The Network Imperative—by digital platform expert Barry Libert—is a call to action for managers and executives to embrace network-based business models. The benefits are indisputable: companies that leverage digital platforms to co-create and share value with networks of employees, customers, and suppliers are fast outpacing the market. These companies, or network orchestrators, grow faster, scale with lower marginal cost, and generate the highest revenue multipliers. So, the question isn’t whether your organization needs to change, but when and how much.”
- The Network Imperative: How Commercial Enterprises Survive and Grow in the Age of Digital Business Models (HBR Webinar)
9.“With the continuously stronger move of society into the information age, we’re becoming more and more globally connected. Future society has to be prepared for the flexibility and agility of the specialized work force.”
- Martin Gaedke, Professor of Distributed and Self-organizing Systems at Technical University Chemnitz
10. “Increasingly, forward-thinking operations managers are looking to optimize performance across value webs. Properly activated, these value webs can deliver superior results across multiple dimensions— reducing costs, improving service levels, mitigating risks of disruption, and delivering feedback-fueled learning and innovation.”
- Eamonn Kelly, Deloitte
If you're interested in learning more about The Service Level Economy, visit our page dedicated to the trends and impact surrounding the SLE.