MNC vs Startup Growth: Gen Z an asset or a liability…
In the previous blog, we saw how MNCs undertake market expansion by introducing products and focus on people-based, highly effective solutions.
Let us today learn how hashtag#startups do hashtag#marketexpansion in contrast to MNCs.
While both aim to expand their markets, they often employ different strategies to achieve this goal as their teams are differently wired.
MNCs typically focus on product expansion and highly effective solutions driven by their established resources and infrastructure and highly engaged but process driven teams.
Or shall we say process constrained hashtag#teams?
On the other hand, startups often rely on low-cost, easy-to-implement solutions to penetrate markets quickly and compete with larger players. They are driven by highly passionate and energetic hashtag#genz teams. Gen Z is keen to innovate and create new solutions that succeed in the market if only we can engage and empower them.
For instance, my startup developed an action planning portal with AI-generated pre-populated action plans tailored for both managers and leaders. Additionally, the young Gen Z team created a first in the world AI-based consultant to provide personalized advice.
Listening to clients, our critical value, made us realize the issue of the capability of first-time managers to implement these plans, despite the advice of the AI consultant.
Help managers.
Our Gen Z team could empathize with the Gen Z managers of clients.
This led to the creation of digital management training and hybrid manager transformation programs. One of the major focuses was on making our solutions scalable and affordable.
This was a contrast to Gallup’s efforts in a similar domain. Gallup failed to reach frontline employees, largely due to high costs.
How did we do it?
The key to our success was a team comprising young Gen Z professionals, including industrial-organizational psychologists, training-content managers, and programmers. Their high engagement, motivation, and energy drove the development of contemporary and cutting-edge technology, fostering innovation and speed.
Trust and empower Gen Z!
In conclusion, both MNCs and startups seek to expand markets and serve clients effectively but have different approaches in terms of resources and agility. Startups, driven by the passion and energy of Gen Z, excel in delivering agile, client-centric solutions that leverage cutting-edge technology and innovation. By listening to clients and actively involving them in the development process, startups can carve out a competitive edge and thrive in dynamic market environments.
Of course, engagement, energy, empowerment, and trust ensure that startups can go the extra mile to thrive and grow in the competitive and fast-paced hashtag#corporateworld.