WeWork’s Powered By We Product Is Central To 2018 Growth Strategy

[Channing Chambers]

<div>Graham Tuttle was a director of growth innovation at WeWork. He has more than a decade of experience in design and new product development. Prior to WeWork, Tuttle worked at frog in design strategy, helping global enterprises and startups take a user-centered approach to product development, innovation, and investment strategy. He has an M.B.A. and a masters of design from the Illinois Institute of Technology and contributed to the development of 101 Design Methods: A Structured Approach for Driving Innovation in Your Organization, a step-by-step guidebook for innovation planning.</div><div></div><div></div><div></div><div></div><div></div><div>WeWorks Powered By We product is central to 2018 growth strategy</div><div></div><div>Download Zip: https://t.co/yCsCyHH7p2 </div><div></div><div></div><div>Transferability enables enterprise companies to leverage the entire WeWork portfolio of products and locations and align their real estate strategy with their changing needs, according to Emily Pae, director of real estate advisory, transactions, finance, and strategy at WeWork.</div><div></div><div></div><div>By delegating day-to-day operations to satellite offices, those at the top of the organization can focus less on managing small things and more on the wider business horizon. Decentralization allows top management to concentrate on strategy, growth, and executive-level work.</div><div></div><div></div><div>Johnson & Johnson is an example of a decentralized organization. At the highest level, the global pharmaceutical company is made up of several senior management groups, executive committees, and international subsidiaries that are each responsible for their own operations and strategy planning, and managed by employees who are local to the area they operate in.</div><div></div><div></div><div></div><div></div><div></div><div></div><div>While some flex and shared-office companies have grown beyond the traditional office into retail, hospitality and even residential spaces using their own brands, others are expanding through partnerships with major landlords to scale, such as Industrious' new partnership with Macerich, the latest move in the coworking company's growth strategy.</div><div></div><div></div><div>The 2023 release wave 1 introduces our first Copilot capability: AI-generated product descriptions, adding to our catalog of AI-powered features such as cash flow forecasting and late payment prediction.</div><div></div><div></div><div>How are executives responding? As might be expected, they are largely focusing on maintaining business continuity, especially in their core. Executives must weigh cutting costs, driving productivity, and implementing safety measures against supporting innovation-led growth. Unsurprisingly, investments in innovation are suffering. The executives in our survey strongly believe that they will return to innovation-related initiatives once the world has stabilized, the core business is secure, and the path forward is clearer. However, only a quarter reported that capturing new growth was a top priority (first- or second-order) today, compared to roughly 60 percent before the crisis hit (Exhibit 4).</div><div></div><div></div><div>Source: CB Insights [2]Outside of the core value proposition, machine learning is a concept that management has tackled both short and medium term by fully incorporating the idea into its strategy for improving processes and designing new products. In terms of process improvement, as WeWork has scaled it has used machine learning to tackle problems such as the ideal number of conference rooms needed in each new location. Product research teams use an algorithm known as an Artificial Neural Network to help resolve these kinds of questions. They feed information about the layout of current locations (office size, number of rooms, etc..) and utilization of rooms in order to understand if there is a relationship between these two elements. Over time, the company has used the algorithm to predict which types of rooms might be used more or less than others and then incorporates this information into the design process of new buildings. As WeWork continues to open more buildings, the algorithm will become stronger and allow the company to create space that will completely satisfy future demand. [5]</div><div></div><div></div><div>The size of an addressable market is determined by how broad a product or service is and its future growth prospects. Offerings that are a necessity and hence are used by large swathes of people by default, tend to have the largest markets.</div><div></div><div></div><div>Our Industry X Innovation Center is a creative, industrial space that puts you alongside specialists and researchers to create new ways to drive growth and efficiency through connected products, services, customer experiences and operations.</div><div></div><div></div><div>A serviced office is a furnished and fully-equipped pay-as-you-use office space, located in a building managed by the office that provides fully-furnished workspaces, building management services and additional facilities, such as printers, communal break rooms, meeting room and internet connection.The main types of offering in the serviced offices are private offices, virtual offices, and others. A fully enclosed space with a movable door that provides a workplace for one individual is referred to as a private office. The different space providers include big brands, and independent and are used by various verticals such as IT and telecommunications, media and entertainment, retail, and consumer goods.The global serviced office market is segmented -1) By Offering: Private Offices, Virtual offices, Other Offerings2) By Vertical: IT and Telcommunications, Media and Entertainment, Retail and consummer goods3) By Space provider: Big brands, Independent The global serviced office market size will grow from $33.3 billion in 2022 to $39.49 billion in 2023 at a compound annual growth rate (CAGR) of 18.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global serviced office is expected to grow to $74.21 billion in 2027 at a CAGR of 17.1%.Governments are increasingly supporting and funding start-ups and SMEs which is primarily contributing to the growth of serviced offices. The serviced office is a type of office which is supplied with each and everything needed for an office and it is offered on rent. Start-ups and SMEs will not have much funds, and time to build the office. Therefore, most firms move to Serviced offices or co-working spaces. According to the world bank, there are 400-500 million SMEs, and start-ups across the globe, and the number is increasing day by day due to extensive support by the government. Increased Government support and funds for start-ups and SMEs boosted the demand for the growth of serviced office market.Major players in the serviced office market are, WeWork Companies, ServCorp., Regus, IWG PLC., Bizspace Ltd., Alley, Croissant, Davinci Virtual, Greendesk, Hubble, Instant, JustCo., LiquidSpace, Office Freedom, Serendipity Labs, ShareDesk, TechSpace, The Office Group, Breather Inc. and Knotel.The lack of available space in some cities has always been a major challenge in the serviced office market. In recent years, the availability of large conventional spaces in well-developed countries has been decreasing and the land rate in desired locations is increasing due to which the service office provider firm is not able to afford to buy and supply the offices with the basic needs. The lack of large spaces can harm the serviced office market.The serviced offices are implementing the internet of things into their services. A smart serviced office came in most of the aspects as a serviced office except that a smart serviced office is equipped with sensors, interactive devices, etc. For companies that are concerned about costs, the smart serviced office provides management services with the use of technology. For instance, an empty meeting room or a quiet area within the smart serviced office can be found easily using sensors. There are many advantages to IoT in the serviced office. Smart serviced offices offer several advantages such as improved time management, efficiency, and reduced operational cost.In October 2021, Knotel, a US-based provider of flexible workspace solutions to customers, matching, tailoring, and managing their space acquired Deskeo, for an undisclosed amount. The acquisition will help Knotel to strengthen its future of flexible offices. Deskeo is a France-based leader in providing flexible and serviced offices to enterprises.Asia-Pacific was the largest region in the serviced office market in 2022. North America was the second largest region in the global serviced office market share. The regions covered in the global serviced office market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.The countries covered in the serviced office market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The serviced office market consists of revenues earned by entities by providing services such as dedicated receptionists, administrative support as well and facilities like conference rooms, meeting rooms, air conditioning, and other utilities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The serviced office market research report is one of a series of new reports from The Business Research Company that provides serviced office market statistics, including serviced office industry global market size, regional shares, competitors with a serviced office market share, detailed serviced office market segments, market trends and opportunities, and any further data you may need to thrive in the serviced office industry. This serviced office market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.</div><div></div><div> dd2b598166</div>