Technological change is the biggest force facing today’s transportation corporations. For instance, the tremendous growth of computing power has allowed companies to model highly-dynamic, complex systems in real-time.
The most notable thing is that technology isn’t changing transportation companies only, but also the jobs of industry leaders. To succeed in the current competitive market characterized by drastic changes in technology, leaders must keep up with technological developments.
#1: Reconsider the Composition of Management
One of the most effective ways of being successful is for leaders of transportation companies to reconsider who constitutes their top team and board. This is because most leaders draw on board or management skills and insights to help them navigate. Poorly qualified directors only lead to frustrations and poor decisions.
For this reason, company leaders must ensure that their board composition reflects the modern age. Additionally, management should be comprised of members with long-term experience, especially in matters of transportation and technology.
Board members must be able to adapt to new concepts and technology. If a board doesn’t understand the powerful and loud voice of social media within a digital environment, it’ll definitely be handicapped.Directors and CEOs of transportation companies should put in place measures to ensure their boards are more tech savvy.
#2: Improve Your Communication
The way company leaders communicate not only with their employees but also with other stakeholders is changing in these modern times. Technology offers valuable, effective, new communication channels to business leaders. To use communication as a successful tool, leaders should keep their communications humble as well as well-grounded in this era of rapid-fire digital volleys and transparency.
A leader must understand that communication is about three main parties:
- External stakeholders
- The workforce
- The business
The good thing about technology is that it offers dynamic ways to listen and engage with different parties. Leaders should lead with their ears and follow with their mouths.
A great way to listen in these modern times is to crowdsource ideas using digital-communications platforms.
#3: Prioritize Cybersecurity
Often, the business significance of cybersecurity is misunderstood. CGS recently conducted a poll, in which attendees indicated that around 80% of C-level executives weren’t fully involved in cybersecurity planning. Just think about it! Does your transportation company treat technology as a cost center or a business enabler?
Is the former true? If yes, then the bigger question you need to ask is: by failing to prioritize cybersecurity, do you put your company as well as others at risk?
As digitization continues to rise on the agendas of executives in most transportation firms, cybersecurity processes and skills have also increased in importance. Cybersecurity is more challenging and relevant than ever. As a result, companies must build capabilities around this area quickly.
Preventing cyber threats is almost impossible—at least today. Fighting against a highly savvy and determined adversary that never let’s, it’s just a matter of time before some sort of breach occurs. However, by working with the right I.T. professionals, you can mitigate the risks.
Often, the weakest link in most incidents is the humans. Unfortunately, this is an area that leaders give the least amount of attention. It’s high time that company leaders focus their efforts on this area prior to addressing the technical elements of security.
Security must be a leader’s top priority.
Here are some of the things leaders can do when it comes to cybersecurity:
#4: Consider A.I.
The adoption of artificial intelligence is happening at breakneck speed. Do you know that last year, this technology attracted over $12 billion in terms of venture capital investment? As a forward-thinking company leader, you must figure out various ways to lean on the cutting-edge capabilities of A.I.
When it comes to your transportation business, here’s how A.I. can propel your company beyond the competition:
With A.I. becoming more affordable, it’s important that leaders figure out how to integrate this technology into their business. Doing so will make customers happier and workforce more productive. It can even improve your ROI.
#5: Make Digital Marketing and Social Media a Priority
Right from the onset, it’s very important that companies leverage digital. According to a study by Dscout, an average phone user touches his or her phone around 2,617 times within a day. The same study also discovered that the top 10% of user’s interactions nearly doubled to roughly 5,427 touches daily.
You cannot deny that consumers are entrenched deeply in social marketing.For your company’s customer acquisition, social media, SEO, and digital marketing must be an overlapping strategy. When used in the right way, these strategies will not only help you beat the competition but also bring in new clients to your front door.
Final WordsTo have an edge over competitors in today’s business climate, transportation company leaders must prioritize innovation. To do that, it demands that company leaders institute a host of strategies to make their businesses successful in this rapidly-changing technology world.
Any business leader—not only the ones in the transportation industry—must ensure the corporations they lead exist to solve actual problems as well as overcome specific audience pain points. To succeed, CEOs and directors must strike a balance between embracing technology and focusing on their clients.
The above are some of the strategies company leaders in the transportation field can put in place to ensure they remain successful in a rapidly changing world of technology, cybersecurity, and high-tech risks.
JMARK helps transportation companies leverage I.T. to reduce risks, improve their bottom line, and accelerate their success. With offices in Springfield, Missouri; Tulsa, Oklahoma; and Fayetteville, Arkansas, JMARK is perched at the central crossroads of the country, perfectly aligned to serve our clients located throughout the nation. To learn how our people first, technology second approach to I.T. can benefit your company, Contact Us by emailing JMARKIT@JMARK.com or calling 844-44-JMARK.