These are difficult days for Thomson Reuters (TR). Since the end of 2012, senior leaders have been busy transforming the company into an enterprise-driven organization with an integrated go-to market strategy, common processes, shared assets and centres of excellence. The overall goal is to accelerate innovation, take advantage of scale and enable TR’s talent to make smarter, faster decisions.
Announced in Toronto on March 20, 2014, these rather expected initiatives and goals could be applied to any number of companies across a spectrum of industries. To truly turn the enterprise around, senior leaders at TR need to go beyond the expected and explore the unexpected.
At its core, TR and most of its competitors provide data and analysis to enable business professionals in the area of finance and law to make better decisions. This is what’s expected.
In today’s marketplace, there is an oversupply of data and an undersupply of relevant, insightful and actionable information. This is where TR can deliver the unexpected.
To step out of line from the competition, TR should consider a new approach to how it focuses on the business professional. By listening intently to their needs and delivering expected and unexpected results, TR can take its conversations and relationships deeper to deliver more actionable results that help business professionals to make better decisions in less time.
Such an approach would guide meaningful innovation in areas that matter most to clients, and also enable and inspire TR's employees with the information they need to make smarter decisions that drive TR's business forward.