Internet seems to be the perfect channel for finding business opportunities and connecting people and ideas across the world, but accessing it won’t guarantee you the massive results you dreamed of. According to the International Labor Organization (2009), 70% of cross-boundaries business ventures fail due to cultural differences. Quite a big percentage I would say. Globalization spread its capital across the world, selling clear Mission statements on markets and well-disposed Principles inside for shaping employees behaviors. Even so, in terms of money only in Europe and United States 25 billion dollars are lost every year, as a result of inefficient Cross Cultural-Communication.
Companies are turning to sentiment analysis to learn what customers think and to boost customer-centric strategies for sales and marketing campaigns. Predicting consumer behaviour can be a difficult task, especially with significant amounts of data coming from so many and varied channels of communication, one of the most representative being social media. Therefore, marketing departments rely on using predictive analytics and devising marketing campaigns based on various criteria, in order to improve brand awareness and loyalty and to approach consumer interactions at a higher and more personal level.
Every company will always have operational challenges. They will always represent a priority because the purpose of every organization is to be profitable. However making a profit won’t always be easy. Internal or external constraints, the market or the level of resources it has at its disposal will always impact this objective. The question for people who are in support functions is how they can contribute to the profitability of the company?