SBM ITB always holds an alumni gathering event to celebrate the new year and maintain good peer relationships. This year’s event was held on Saturday (15/1/2022). SBM ITB invited Tommy Wattimena, the CEO of Great Giant Foods, to discuss the latest and current key business challenges.
Tommy explained the current market shift from offline to online marketplaces. Following the digital trends and technological advances, offline stores are often seen empty and vacant due to the accessibility of online stores.
Tommy believes that business evolution follows the next generation. From the baby boomer era, specializing in quality-driven products and functionality such as Sony, to the X generation, specializing in branding and emotionally driven products, such as Coca-Cola.
“Then, millennials developed the era of the experience, where businesses are content-driven and use more data analytic and algorithms,” described Tommy. The current generation, also known as the Z generation, embraces a purposeful era, where consumers are more environmentally friendly and empowering.
Tommy mentioned three factors called the three Sights: hindsight, insight, and foresight, to analyze and manage businesses. Hindsight analyzes past experiences to provide a reasonable basis for the future. Insight requires the understanding of various situations to help interpret the ever-changing future. Finally, foresight is the ability to model scenarios to help prepare and rapidly respond to changes.
Tommy left an impactful statement at the end of his presentation, encouraging the audience to not think “outside the box” instead think that there is “no box.” For example, Uber, the world’s largest taxi service, owns no taxis. Similarly, Airbnb, the world’s largest accommodation provider, owns no real estate.
