Lessons from three companies that changed how they create value.
If you can’t answer the questions “Why are we here?” or “What unique value do we add for our customers?” then you are likely at best just staying in the game.
Komatsu initially launched construction machinery that utilizes GPS, digital mapping, sensors, and IoT connections to enable its customers to use Komatsu equipment more efficiently. The company has since gone further and opened up its Landlog platform and data that allows customers, competitors and other companies in the construction ecosystem to better coordinate their activities and improve total productivity across a construction project. These pre-Covid business model innovations have since allowed Komatsu to scale up new sources of revenue via managed services and automated platforms, and even accelerated the rollout of new offerings after Covid hit, despite the slump in construction activity.