Another way to consider this topic—of how technology can help you grow your business – is how the lack of it will not only prevent growth, but possibly hurt your business. Technology is an inseparable part of creating and running a business—at any scale. From telecommunications, customer touch-points, and an online presence, to process-specific systems, technology is an inevitable part of how we make, buy, and sell goods.
This has been the case for decades. Consider the following excerpt from a Harvard Business Review article from 1980. It is just as relevant today as it was nearly 40 years ago.
“Technology and strategy are inseparable. For technology has an inner logic that simply must be considered in a company’s strategic planning—that process of creating a concept of the business it is in, identifying its goals and objectives and the long-term policies to meet them, and formulating plans of action. Technology—more than just nuts and bolts—includes the elaborate systems of planning and production through which a company’s abstract capability is translated into the goods and services on which it ultimately depends for success.”
As I’ve addressed previously, THP has understood the importance of technology within our business, particularly in our efforts to compete with multinationals seeking to secure greater market share for themselves. From the beginning, my father’s main consideration was how best to scale up. He always knew that as THP got bigger it would only be able to compete with the multinationals by deploying the same or better technology.
One investment that would make a significant impact on THP was the shift to PET bottles made of polyethylene terephthalate and aseptic technology, which keeps the whole process sterile and eliminates the need for preservatives. THP became the first company in Southeast Asia to invest in this kind of technology, purchasing a production line capable of producing 48,000 bottles per hour.
This technology not only maintains the maximum number of nutrients, but also enables the products to be preservative-free because they keep for longer periods. This is a benefit and value that we have communicated to our customers. Because of this investment in aseptic production technology, they knew the company would not only adhere to stringent hygiene and safety standards but would also manufacture a product with no need for industrial colorants or additives. In essence, our consumers consider our products to be superior, because of the technology we have integrated.
Large or small, technology will be a part of your business. In addition to serving as a standard element in your operations, it can also be the competitive advantage. Learn more by visiting, my website.