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Can't you play this definition game with any company though? I kind of think that if an organization views tech as a competitive advantage and core competency,

by sbov 9y ago

Can't you play this definition game with any company though? I kind of think that if an organization views tech as a competitive advantage and core competency, they are a tech company. E.g. Netflix may be in the business of entertainment, but they are also a tech company. Google may be in the business of selling ads, but they are also a tech company.

thephyber 9y ago
The way I read it, there is a management position of shunning new tech by saying "we are not a technology company". That statement can also be interpreted as "we are not an innovation company" which conveys an aversion to change. I think the point of the GP is to say that Netflix "isn't a technology company", but they don't parade around saying that. Netflix uses technology and innovation to the fullest as the means to accomplish the ends of delivering great entertainment value at a low cost. I don't think it's as much about the "definition game" as about the message that is conveyed.
madeofpalk 9y ago
Yes you can, and that's kind of the point. Slowly but surely, more and more companies are realising that their digital efforts are just as integral to their business as whatever else it is that they're doing. Every company needs to be a tech company now. In Australia, Commbank realised this at a very early stage: there's actually very little differentiation between the financial products from bank to bank. Sure, interest rates change here and there but on the whole, everyone is the same. Commbank realised that they can make their internet banking and mobile apps just as much as their core product and their differentiator. People aren't going to stay with their bank because of a debit card, but they will stay the one with the better app with more features. They rolled out a bunch of firsts - peer to peer payments by bumping phones together in 2010, transferring money to others using just their phone number, or 'Cardless Cash' where overnight they updated their network of ATMs to allow withdrawals using their phone app. Qantas is another example of a company that invests (for better or worse) heavily into their digital products all throughout the customer journey. Every company needs to be apt at digital because, in one way or another, every company is a tech company. It's the successful ones that realise this and use it to their advantage.
- zokier 9y ago
  > Every company needs to be a tech company now. I've heard this mantra for some years now (in various forms, eg "all companies are tech companies, or dying ones"), I wonder where it stems from.
- photojosh 9y ago
  CommBank certainly did lead the pack, but they have become arrogant and complacent, IMHO. Two things that have driven us to leave them: rejecting Apple Pay, and cutting off feeds to accounting software from certain credit cards. We're leaving for a combination of a local credit union and an 'online-only' everyday banking account.

by sbov 9y ago

thephyber 9y ago

The way I read it, there is a management position of shunning new tech by saying "we are not a technology company". That statement can also be interpreted as "we are not an innovation company" which conveys an aversion to change. I think the point of the GP is to say that Netflix "isn't a technology company", but they don't parade around saying that. Netflix uses technology and innovation to the fullest as the means to accomplish the ends of delivering great entertainment value at a low cost. I don't think it's as much about the "definition game" as about the message that is conveyed.

madeofpalk 9y ago

Yes you can, and that's kind of the point. Slowly but surely, more and more companies are realising that their digital efforts are just as integral to their business as whatever else it is that they're doing. Every company needs to be a tech company now. In Australia, Commbank realised this at a very early stage: there's actually very little differentiation between the financial products from bank to bank. Sure, interest rates change here and there but on the whole, everyone is the same. Commbank realised that they can make their internet banking and mobile apps just as much as their core product and their differentiator. People aren't going to stay with their bank because of a debit card, but they will stay the one with the better app with more features. They rolled out a bunch of firsts - peer to peer payments by bumping phones together in 2010, transferring money to others using just their phone number, or 'Cardless Cash' where overnight they updated their network of ATMs to allow withdrawals using their phone app. Qantas is another example of a company that invests (for better or worse) heavily into their digital products all throughout the customer journey. Every company needs to be apt at digital because, in one way or another, every company is a tech company. It's the successful ones that realise this and use it to their advantage.

zokier 9y ago
> Every company needs to be a tech company now. I've heard this mantra for some years now (in various forms, eg "all companies are tech companies, or dying ones"), I wonder where it stems from.
photojosh 9y ago
CommBank certainly did lead the pack, but they have become arrogant and complacent, IMHO. Two things that have driven us to leave them: rejecting Apple Pay, and cutting off feeds to accounting software from certain credit cards. We're leaving for a combination of a local credit union and an 'online-only' everyday banking account.