00:00Moving on, the next thing that I want to talk about is something that they have been doing
00:04for many years, and that is to constantly try and reinvent themselves.
00:09And by reinvent themselves, I don't mean coming up with some wacky new product.
00:14I mean reinventing their entire business model.
00:18For example, back in the early 2000s, they recognized that the way that people were using
00:24computers was changing.
00:26People wanted to use computers to consume media rather than just work, so Fujitsu launched
00:32a new series of computers targeted towards consumers.
00:35At the time, this was a huge deal for Fujitsu because it completely changed the way that
00:40they did business.
00:41For decades, they had been a B2B company.
00:44But with the launch of this new product line, they became a B2C company as well.
00:48Another example of them reinventing themselves came during the 2008 financial crisis.
00:53During the crisis, businesses were pulling back on their IT spending.
00:58And this, of course, affected Fujitsu's bottom line, so they decided to focus on smaller businesses
01:04instead.
01:05It turns out that this was a smart move because small businesses turned out to be a huge market
01:10for them.
01:11In fact, I read that this shift alone resulted in 30 billion yen, which is about 227 million
01:18dollars worth of profit.
01:19Now, the last thing that I want to talk about when it comes to their business model is something
01:24that they call their global delivery model.
01:27Basically, what they do is leverage cheap labor in India to develop software for their clients.
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