Culture

As inflation eats into spending habits, it’s going to take a lot more than free coffee to win your customers over. Colleen Murray, explains in Entrepreneur what it means to build a purpose-driven loyalty program that resonates with a new generation of shoppers.

While large companies are phenomenal at managing complexity, they’re actually quite bad at tackling ambiguity. So how do we face issues like healthcare, immigration, education, defense and economic growth in an increasingly ambiguous world?

Why is it so difficult to focus on the future? Or at the very least, avoid getting blindsided by it? For disrupted companies like Kodak or Blackberry, the problem was clearly not a lack of effort or ability to innovate. As it turns out the problem lies in how we’re all hard-wired to think.

Universal Music Group is the world leader in music-based entertainment. But it wasn’t a straight line to the top. After a near-death experience, UMG navigated massive market and technological changes. Through a series of bold, future focused initiatives, they succeeded in finding a path to growth, and in reinventing the role of a music label in the twenty-first century.

With its on-trend merchandise, fast fashion, and amazing deals, Target is the perfect place to shop, socialize, and spend a Saturday afternoon. But more than that, Target is an example of a company that’s been able to thrive despite massive disruption across its industry.