ESMT Update June 2018
In his April 2018 letter to shareholders, Amazon CEO Jeff Bezos wrote, “One thing I love about customers is that they are divinely discontent. Their expectations are never static – they go up. … You cannot rest on your laurels in this world. Customers won’t have it.”
Under the theme “Business Models: Upgraded,” this issue of the ESMT Update explores how this phenomenon is playing out across the business landscape. How have digitization, smartphones, and internet connectivity changed consumer behavior and brand engagement? How are companies and their executives answering the call to provide new, improved, and future-ready versions of their products and services?
In this edition, we see three such examples of how changing business models have transformed traditional sectors. While “freemium” pricing schemes are well known in the app and gaming spaces, well-established companies like the New York Times and Microsoft are looking at its potential for attracting Jörg Rocholl President, ESMT Berlin In his April 2018 letter to shareholders, Amazon CEO Jeff Bezos wrote, “One thing I love about customers is that they are divinely discontent. Their expectations are never static – they go up. … You cannot rest on your laurels in this world. Customers won’t have it.” and converting new customers. Public concerns regarding climate change and sustainability are pushing real estate companies to reimagine their role in our developing cityscapes. Decentralization in the energy transformation is creating new players and new platforms for the delivery of renewables.
Here at ESMT Berlin we are also embracing change and growth. We have, for example, sold our campus at Schloss Gracht, effective November 20, 2018. This decision was not easy, as Schloss Gracht is and will remain a significant piece of our history. As part of this strategic decision, we will place our focus within Germany on our campus in Berlin and continue to strengthen our international and digital activities. All employees at Schloss Gracht will receive an offer of employment.
Moreover, we looked to our mission statement and the pillars upon which we have grown the school. With input from key stakeholders – alumni, board members, faculty, staff, and students – we sought to reflect better our stated ideals as well as our core competencies in research and teaching. We have refined the pillars to be leadership, innovation, and analytics. Our updated mission is:
From the heart of Europe, we create and impart new knowledge to advance business and society. We develop entrepreneurial leaders who think globally and act responsibly.
I hope that you share our “divine discontent” and that the stories of this edition inspire your own work.