Home » People are crucial to growth strategies, even in the age of technology

People are crucial to growth strategies, even in the age of technology

by admin
People are crucial to growth strategies, even in the age of technology

Listen to the audio version of the article

«By examining numerous companies that have been active in the sector for a long time, to identify what their common trait was, we discovered that it was investments in human capital»: for Gemma D’Auria, senior partner at McKinsey & Company, it is people and their valorization is the most lasting source of competitive advantage in luxury, even more than technology, which evolves over time. «Companies must identify the skills necessary to achieve their strategic objectives in terms of value creation, and align them with them. This approach can contribute to growth of between 15 and 30%.” The analyst also underlined the importance of investing in training «that is not only technical, the one necessary to manage various phases of the company activity, but also in the development of leadership skills, throughout the organization, to develop leaders capable of leading and inspiring increasingly heterogeneous and cross-functional teams, like those that will be increasingly present in the organizations of the future.”

People, their know-how but also relationships with being, are at the center of the Florence Group’s formula: «We set up a tailor-made approach with the companies we collaborate with, trying to maintain their family characteristics – explained Attila Kiss, CEO of the group, the first integrated production center in Italy serving luxury brands and which in four years of activity has brought together around thirty companies – -. This way we foster an exchange of visions and ideas that is profitable for both of us. The aggregation also helps us to provide our customers with the services they order from us, which are increasingly special and sophisticated, and to thus attract new customers.”

Alongside that of people, however, artificial intelligence is also making its way into the luxury industry: «Artificial intelligence has an impact on 40% of hours worked and its rapid development has led it to become part of the individual life, no longer just a tool used by research – underlined Andrea Ruzzi, Fashion & Luxury Lead Europe Accenture –. As Hegel noted, large changes in quantity cause equally large changes in quality. I am not sure that a product created by an artificial intelligence is better than one created by a human intelligence, but I am certain of the positive impact of a machine that manages to represent a sketch in three-dimensional bioprinting, passing it to the various areas of a company, post it to see what reactions it arouses, have it created while saving on the necessary resources. And let’s not forget that artificial intelligence can provide support for solving problems caused by demographic decline: technologies can increase productivity, although they do not replace people. Crucial, in this sense, will be to invest in the education necessary to manage them, and which will keep the human being at the center of technological change.”

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy