Latest news with #business growth
Forbes
3 days ago
- Business
- Forbes
To Be Or Not To Be ‘AI-Native,' That Is The ‘Only' Question
To Be, or Not to Be: That is the Question I know! I butchered the quote by William Shakespeare. But in a world that is increasingly driven by AI, companies no longer have the choice 'to be or not to be' 'AI all in' (see my last article) if they want to grow and prosper. Consequently, adding AI to your business is not a real choice. Rather, today's choice is singular in nature -- how are you going to become AI-Native and do what it takes to achieve that result? That is the core question I will seek to answer in this article including the processes for getting there. You Can't Outrun an AI-Native Company Nvidia is First $4T Company There's a quiet divide forming in the AI race best epitomized by Nvidia becoming the most valuable company in the world. On one side of this divide: legacy software (SaaS) and hardware companies are adding AI to what they make and sell versus AI-Native companies that are AI to their bone (think Microsoft adding Co-Pilot via OpenAI versus OpenAI itself; Google Gemini versus Perplexity; or Cursor AI versus Adobe with or without Figma). When you look at these examples, you can clearly see the distinction. It is not to say that the 'Hyper-Scalers' don't have the money, networks, marketing muscle and data to win over the long run – they surely do. But they are in a world all by themselves - they can literally afford to spend hundreds of billions each to catch up and remain relevant. However, for the rest of the world, which means all of us - it is not that simple as spending billions or more to play catch up. Even Elon Musk is learning this lesson the hard way with Grok. Therefore, every company needs to truly look inside to see if they have the internal fortitude to do what it takes to transform. Leaders are not stupid (at least not most of them). Consequently, many companies are beginning to 'rebrand' themselves as AI companies to ride the AI bandwagon. You see it in their press releases, public announcements, websites and even investor communications, regardless of whether they are private or public companies. BUT THEY ARE NOT AI Companies. The difference in their outcomes – revenue growth, valuations, customer adoption, employee skills, product offerings and code base - is massive and growing exponentially every day. Think of the digital divide of 10+ years ago and multiply it by 10x or 100x and you get the point. To be part of the AI revolution is about the very essence of your company. Ask yourself WHO is on your board -- are they AI-Native? WHAT is the composition of your management team -- are they AI-Native? HOW do you go to market -- is it AI-Native? And WHAT is the foundation of your technology -- I know you know the question: Is it AI-Native? Asked differently, is AI an enhancement to what you are already doing or is it the very foundation of your thoughts, actions and capital allocations? How you answer every one of these questions, and many more, will shape whether you are part of the AI revolution or just a bystander. AI-Enabled versus AI-Native: Which are you? AI-Enabled vs. AI-Native Platforms Let's start with some simple definitions: Three points of clarification: 1. AI-Native is NOT hiring McKinsey, Bain or BCG, or some other consultant or communications firm, to reshape your company's strategy. Nor is AI-Enabled about partnering with an AI company, like Accenture did with Palantir, or using Lovable or Cursor to create new applications (many companies are doing that). 2. AI-Enabled and AI-Native are also NOT about replacing your people with AI agents (aka: what Duoloingo or Klarna tried). IMHO, using AI is about doing things you couldn't do before at speeds you thought were unimaginable (hitting $10B in valuation in 2 years, like Cognition did). 3. Whether you are AI-enabled or AI-native, I continue to witness that the best business models still focus on network effects and data moats to ensure their long term survival. This is even more true as foundational models become obsolete and their cost of compute plummets. The Real Danger for Leaders, Investors, and Board Members: Your Thoughts Your Thoughts Become your Actions and Outcomes As you ready your board, investors and leadership team for one of these two journeys', remember that your thoughts, and the thoughts of your leaders, board members and investors, will drive the corporate words, actions, habits, and in time destiny and outcomes of your organization. So, let's start where it all begins - with your thoughts. Winning Goes to Those That are All In on AI All in on AI My friend and frequent co-author, Tom Davenport, recently wrote a book called All in on AI. In it, he explains why being All in on AI is so critical to success. From my perspective, the difference between AI-Enabled and AI-Native isn't just technical — it's existential. One is about efficiency. It's about advantage. Its about speed, scale and defensibility. As noted above, AI-Enabled companies improve what already exists. AI-Native companies change the world and how everything is done. The later companies understand deep down that AI is bigger than the internet; it's bigger than hardware and software and it's bigger than mobile, data and communications. It is all those things combined. In fact, it is derived from and built upon all those advancements. In our new AI world, the risk for all investors, board members, and leaders isn't doing too much — It's not doing enough, fast enough or deep enough. It's about everything that Wiliam Shakespeare imagined when he asked – To be or not to be that is the question. If he was born and writing today, I am sure he would have added AI to his question and probably used ChatGPT to write Hamlet. Given all these realities, it is up to you, which way you go – do nothing, become AI-Enabled or go all the way – become AI-Native. Given ONLY you control your thoughts and your actions, and given your actions dictate your outcomes, I suggest you start today and truly understand your thoughts and figure out what is holding you, and others back (including your board and team) from achieving your organization's full potential in the age of AI. Without that true understanding, nothing is really possible.
Yahoo
3 days ago
- Business
- Yahoo
KKR Launches Tender Offer for Topcon
TOKYO, July 28, 2025--(BUSINESS WIRE)--KKR, a leading global investment firm, announced today that it will launch its tender offer ("Tender Offer") for the common shares and share acquisition rights, etc. of Topcon Corporation ("Topcon" or the "Company"; TSE stock code 7732). The Tender Offer will be made through TK Co., Ltd. ("Offeror"), an entity owned by the investment funds managed by KKR. The Tender Offer will commence on July 29, 2025 and will run until September 9, 2025. The Offeror will commence the Tender Offer to acquire all outstanding common shares and share acquisition rights (excluding treasury shares held by Topcon) with a tender offer price of JPY 3,300 per common share and JPY 193,400 per 7th Series Share Acquisition Right.1 Topcon is a global leader in the manufacturing of technology, leveraging its strengths in optical technology and precision measurement technology since its founding. Topcon is expanding its business globally with its unique DX solutions that combine advanced technologies such as IoT platforms and AI. Topcon is pursuing its long-term vision leading up to its 100th anniversary in 2032, and the Company has been implementing its "Mid-Term Management Plan 2025" covering the fiscal years 2023–2025. Under this plan, Topcon has pursued sustainable business growth and improved profitability by deepening its orientation towards customers, and as the next step, the Company aims to evolve into "New Topcon 2.0," a business structure that will further accelerate the competitiveness of the Topcon Group. KKR is making this investment predominantly from its Asian Fund IV. Topcon President and CEO, Takashi Eto, has agreed to tender his shares into the Tender Offer. Following the completion of the Tender Offer, Mr. Eto and funds managed by JIC Capital, Ltd. will invest in KKR-managed investment vehicles that will own Topcon. This series of transactions, including the Tender Offer, constitutes a management buyout. Additionally, funds managed by ValueAct Capital, a major shareholder of Topcon, have also agreed to tender shares in the Tender Offer and invest in KKR-managed investment vehicles that will own Topcon. For more details regarding the announcement, please refer to the full text of the release issued by the Offeror today titled, "Notice Regarding the Commencement of Tender Offer for the Shares of Topcon Corporation (Securities Code: 7732) by TK Co., Ltd. as part of MBO Implementation." Forward-looking Statements This press release should be read in conjunction with the release issued by the Offeror today titled "Notice Regarding the Commencement of Tender Offer for the Shares of Topcon Corporation (Securities Code: 7732) by TK Co., Ltd. as part of MBO Implementation." The purpose of this press release is to publicly announce the Tender Offer and it has not been prepared for the purpose of soliciting an offer to sell or purchase in the Tender Offer. When making an application to tender, please be sure to read the Tender Offer Explanatory Statement for the Tender Offer and make your own decision as a shareholder or share acquisition right holder. This press release does not constitute, either in whole or in part, a solicitation of an offer to sell or purchase any securities, and the existence of this press release (or any part thereof) or its distribution shall not be construed as a basis for any agreement regarding the Tender Offer, nor shall it be relied upon in concluding an agreement regarding the Tender Offer. The Tender Offer will be conducted in compliance with the procedures and information disclosure standards set forth in Japanese law, and those procedures and standards are not always the same as the procedures and information disclosure standards in the U.S. In particular, neither Sections 13(e) or 14(d) of the U.S. Securities Exchange Act of 1934 (as amended; the same shall apply hereinafter) or the rules under these sections apply to the Tender Offer; and therefore the Tender Offer is not conducted in accordance with those procedures and standards. In addition, because the Offeror is a corporation incorporated outside the U.S., it may be difficult to exercise rights or demands against it that can be asserted based on U.S. securities laws. It also may be impossible to initiate an action against a corporation that is based outside of the U.S. or its officers in a court outside of the U.S. on the grounds of a violation of U.S. securities-related laws. Furthermore, there is no guarantee that a corporation that is based outside of the U.S. or its affiliates may be compelled to submit themselves to the jurisdiction of a U.S. court. Unless otherwise specified, all procedures relating to the Tender Offer are to be conducted entirely in Japanese. All or a part of the documentation relating to the Tender Offer will be prepared in English; however, if there is any discrepancy between the English-language documents and the Japanese-language documents, the Japanese-language documents shall prevail. This press release includes statements that fall under "forward-looking statements" as defined in Section 27A of the U.S. Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934. Due to known or unknown risks, uncertainties or other factors, actual results may differ materially from the predictions indicated by the statements that are implicitly or explicitly forward-looking statements. Neither the Offeror nor any of its affiliates guarantee that the predictions indicated by the statements that are implicitly or expressly forward-looking statements will materialize. The forward-looking statements in this press release were prepared based on information held by the Offeror as of today, and the Offeror and its affiliates shall not be obliged to amend or revise such statements to reflect future events or circumstances, except as required by laws and regulations. The Offeror, the financial advisors of the Offeror and the Company, and the tender offer agent (and their respective affiliates) may purchase the common shares and share acquisition rights, etc. of the Company, by means other than the Tender Offer, or conduct an act aimed at such purchases, for their own account or for their client's accounts, including in the scope of their ordinary business, to the extent permitted under financial instrument exchange-related laws and regulations, and any other applicable laws and regulations in Japan, in accordance with the requirements of Rule 14e-5(b) of the U.S. Securities Exchange Act of 1934 during the Tender Offer period. Such purchases may be conducted at the market price through market transactions or at a price determined by negotiations off-market. In the event that information regarding such purchases is disclosed in Japan, such information will also be disclosed on the English website of the person conducting such purchases (or by any other method of public disclosure). If a shareholder exercises its right to demand the purchase of shares of less than one unit in accordance with the Companies Act, the Company may buy back its own shares during the Tender Offer period in accordance with the procedures required by laws and regulations. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at 1 7th Series Share Acquisition Rights issued pursuant to a resolution of the Company's Board of Directors held on June 25, 2021 (exercise period is from April 1, 2024 to March 31, 2029) View source version on Contacts Media Contacts Wei Jun Ong+65 6922 Samuel Brustad+81 90 7094
Globe and Mail
23-07-2025
- Business
- Globe and Mail
CSX CEO signals he would be open to merger talks as profit falls 14% in the second quarter
CSX railroad's CEO signaled he would be open to merger conversations if a deal would boost shareholder value and help the business grow. As merger rumors swirl in the industry, the Jacksonville, Florida-based railroad said Wednesday that its second-quarter profit dipped 14% to $829 million, or $0.44 per share. That's down from $963 million, or $0.49 per share, a year ago. The railroad continues working on two major construction projects that are causing delays and added costs, but the results were in line with what the analysts surveyed by FactSet Research predicted. CEO Joe Hinrichs wouldn't comment directly on the merger rumors and he said that CSX is focused on improving its operations. But Hinrichs also said his railroad would remain open to any possibilities that would help boost shareholder value. The Associated Press reported last week that Union Pacific was in merger talks with Norfolk Southern. Hinrichs wouldn't say if CSX is discussing a merger with anyone. 'While we are confident in CSX's path forward, we welcome all opportunities that will allow us to deliver value for our shareholders, drive thoughtful growth, and serve our customers better,' Hinrichs said. If merger actions heat up in the industry, CSX could be a target for one of the western railroads trying to build a transcontinental network. But the prospects for any deals among the major freight railroads remain uncertain because regulators might be reluctant to approve them. Hinrichs said he thinks there are opportunities to attract new business and prosper by working together with other railroads today. One example is the new service that CSX and CPKC railroads recently announced to deliver shipments that CPKC picks up in Mexico and have CSX deliver them in the southeast United States. CSX is in the middle of expanding a key tunnel in Baltimore, so it will be able to carry double-stacked shipping containers, and the railroad is completing repairs related to Hurricanes Helene and Milton. Those projects are adding about $10 million in additional costs every month because of all the shipments that need to be re-routed and constraining the railroad's capacity, so it will be a relief when they are done in the fourth quarter. Hinrichs said the railroad is operating much more fluidly than it was in the first quarter of this year when the results disappointed. The railroad also eliminated about 125 management jobs earlier this month in a restructuring. Hinrichs said the railroad will take a $15 million to $20 million charge for that in the third quarter, but those cuts will save CSX about $30 million in expenses per year. Edward Jones analyst Jeff Windau said in a research note that the railroad had a decent quarter even though its service suffered while re-routing so many shipments around the construction. CSX executives said it remains hard to predict consumer sentiment that drives so much of the economy right now, but if Donald Trump's tariff policy and interest rates become more certain in the second half of the year that should help consumers and businesses feel more comfortable spending and expanding their operations. 'We're really looking forward to these trade deals and providing some certainty,' Hinrichs said. 'The tax bill provides certainty now for businesses. And hopefully we can get an interest rate cut or two in the second half which will also help.' CSX is one of the major freight railroads that serves the eastern United States and competes with Norfolk Southern.
Entrepreneur
16-07-2025
- Business
- Entrepreneur
How to Calmly Confront Bad Reviews and Turn Them Into Growth
What happens when a negative online review shows up like a dark cloud on a sunny day? Here's a blueprint for bouncing back, strategically and emotionally, from the sting of bad feedback online. Opinions expressed by Entrepreneur contributors are their own. We entrepreneurs pour our hearts and souls into our businesses. They are the products of our creative energy, our passion-made manifest. If you're like me, you assume that any customer who takes the time to leave a review wouldn't dream of giving anything less than five stars. You may have even come to expect a steady stream of glowing reviews, so when a customer leaves a one- or two-star review, it can feel like the biggest gut punch. You're not alone in this. I've gone through it personally, and I can tell you, first of all, congratulations! Any business or brand worth its salt will inevitably attract haters. Your business is growing, maturing and scaling to a point where occasional negative feedback is inevitable. That said, the way in which you respond to this feedback is critical. Don't underestimate the damaging effect that bad reviews can have on your business, especially if the complaints are consistent in nature, highlighting problems that need urgent attention. The entrepreneur should offer measured, thoughtful responses to negative reviews but not every complaint is created equal. Here are a few important considerations and strategies for handling the dreaded negative review. Related: Bad Reviews Can Destroy a Small Business. But If You Get One, Here's How to Bounce Back. Is it legit? Some reviews are just bogus. One of your competitors may be trying to undermine your business and thinks that leaving one or more bad reviews is the way to do it. Someone may confuse your business with another. Or, someone may simply be trolling and wants to use your business as the butt-end of an inside joke. These reviews are a fair bit easier to deal with than the ones that have some basis in reality. If you report an illegitimate review to Google or Yelp, they are likely to remove the bogus review from their site. When to respond Most business owners understand that having the option to reply to negative reviews presents an advantage, a chance to mitigate the damage done. But many business owners, unfortunately, do not respond as effectively as they could. Samara Scott-Hunter, host of the Salon Rising podcast, has noticed an off-putting defensiveness in how other business owners often respond to negative reviews and believes there's a better way. After being blindsided by a one-star review that Scott-Hunter felt was deeply unfair, she decided to wait before posting her response. Her cool-off period lasted a whole month, and when she did respond, she made sure she was in the right frame of mind to do so. I remember I was sitting in front of my fireplace. I was just in a really happy place, and it was a Sunday afternoon. I thought to myself, I'm going to respond to that review, because I feel really happy right now. There's wisdom here. If you're like me and many other entrepreneurs, receiving a bad review elicits a highly emotional reaction. In most cases, you don't want that red-hot emotion showing up in your public written response to the review. Nor do you want your hasty reply to be met with subsequent complaints and rebuttals from your critic. Therefore, do what Scott-Hunter did, and allow yourself a cooling-off period. Not only will this improve the quality of your response, but it will also be less likely that you'll bait your critic into an unproductive back-and-forth. Related: 94% of Customers Say a Bad Review Made Them Avoid Buying From a Brand. Try These 4 Techniques to Protect Your Brand Reputation. How to respond You may also invite the customer to reach out to your firm's dedicated support staff. Do this by providing the name, email and phone number for your support personnel in your reply. My company has a dedicated customer experience lead who acts as a first responder in the event of a bad review. For me, the typical format for replying to bad reviews should consist of an apology. I don't think you need to explicitly admit to wrongdoing, but you can express regret for the customer's negative experience. Next, you need to express empathy. Put yourself in the customer's shoes and understand that she may be providing this feedback not to hurt your business but to help it improve. That said, let's not be naïve; as your business grows, you will encounter some customers who are simply impossible to please. These customers may have woken up on the wrong side of the bed, recently lost their pet or a loved one, who knows — but for whatever reason, they're determined to have a go at you online. I advise concluding your response by directing your customer to the relevant support personnel in your organization and assuring them that every reasonable action will be taken to address their complaint. My company has a dedicated customer experience lead who acts as a first responder in the event of a bad review. Her name, email and phone number is provided to the customer along with my response. If possible, you or a member of your support team should reach out to the customer privately and do what you can to address their complaint. If you are successful here, and the customer is satisfied, then you may ask the customer to modify their negative review, perhaps changing one- or two-stars to four- or five. Be careful here, you don't want to come across as pushy, as if you're dead set on getting the customer to change their review or take it down. Approach the situation with a genuine curiosity about the customer's experience, with a real desire to know where things went wrong. Don't ask for any favors without first making it abundantly clear how much you care about their experience with your business or brand and appreciate their feedback. Soliciting and screening reviews When it comes to soliciting customer reviews and containing negative feedback before it goes public, there's no shortage of CRM (customer relationship management) software utilities from which to choose. If you use one or more of these utilities, keep in mind that platforms such as Google and Yelp prohibit the practice of "review gating," which is the selective promotion of positive reviews. A review-gating software may email a recent customer, ask them about their experience and direct them to post a review on Google or Yelp if and only if they've had a five-star experience. While review gating is frowned upon, there's nothing wrong with a business providing great services or products and actively soliciting honest feedback. A winning and ethical attitude for a business is to welcome all feedback and to utilize the negative feedback in pursuit of continuous improvement. Related: How to Remove Negative Reviews Online and Protect Your Online Reputation Try not to take it personally Don't take it personally. Yes, way easier said than done. But as an entrepreneur, it's imperative that you identify the growth opportunity in every setback. Even if you find yourself heartbroken by a string of bad reviews about the business you've worked so hard to build, the right approach is to respond attentively, proactively and with resolve to make all the needed adjustments and improvements. Craft your responses to be impassive, empathetic and constructive. Remember, you can never please everyone all of the time. So, stay open-minded, stay humble and let every challenge sharpen your resolve to build and run a business worthy of your passion. Ready to break through your revenue ceiling? Join us at Level Up, a conference for ambitious business leaders to unlock new growth opportunities.
Yahoo
14-07-2025
- Business
- Yahoo
UK Firms Could Miss Out on £319 Billion in Sales Without Strategic Business Travel Investment, New GBTA Study Finds
Study shows modest increases in business travel spending deliver strong returns, with just £94 more per employee needed to reach optimal levels. LONDON, July 10, 2025--(BUSINESS WIRE)--Companies in the United Kingdom could unlock over £319 billion in additional sales by increasing their strategic investment in business travel. Despite a steady recovery since the pandemic, current travel and expense (T&E) spending still falls short of the level needed to maximise revenue and profitability – even when considering COVID-era investments in virtual meeting platforms. The research finds that a 9.7% increase in T&E spending could yield an 8.1% rise in sales for UK-based companies. These are some of the findings from a new report ─ T&E and the Bottom-Line: Quantifying the Return on Investment of UK Business Travel ─ an inaugural study for the UK market released today by the Global Business Travel Association (GBTA). Despite a strong post-pandemic recovery, the report finds that UK business travel spending remains £1.2 billion below its 2019 peak. The analysis shows that aligning T&E investment with optimal levels would yield a 13.8x return—translating to £13.80 in net operating margin for every £1 invested in business travel. "This study challenges the notion of business travel as a discretionary expense. Especially in times of uncertainty or economic pressures, UK organizations should ensure that they are optimizing their business travel as a strategic catalyst for growth. Business travel and in-person meetings boost corporate performance, deepen relationships, and spark innovation ─ and we see here that even modest increases in investment can yield substantial returns," said Suzanne Neufang, CEO, GBTA. For 2024, the economic data shows that UK business travel spending reached £40.3 billion, still £1.2 billion below its 2019 peak, despite the past years' increasing use of virtual meetings. Through the analysis of 24 years of current and historical data (2000-2024) across 14 major UK industries, the GBTA UK ROI study also highlights: The Investment Gap. UK firms currently spend £32.5 billion on business travel. The profit-maximising level is £35.6 billion—about £3 billion higher. High Returns. A 9.7% increase in T&E spending could yield an 8.1% increase in sales, delivering £54 billion in additional net operating margin. Per-Employee Impact. Just £94 more per employee in T&E could help firms reach optimal investment levels. Sector-Specific Opportunities. Real Estate, Manufacturing, and Information & Communication sectors show the largest gaps between current and optimal travel spend, with potential sales gains of £35 billion, £46.7 billion, and £23.5 billion respectively. Efficiency Gains. While UK T&E spending has continued to rise 5.4% annually since 2000, companies have been gaining efficiencies in generating more revenue per travel pound spent. However, for the same period, business travel's share of total sales in the UK declined from 1.1% to 0.8%. So although UK companies may have gained efficiencies, continued T&E investment is needed to drive additional growth. Resilience and Strategic Value. The study also highlights that firms maintaining or increasing travel during downturns—such as the COVID-19 pandemic—tend to recover faster and outperform competitors. Business travel supports a wide range of high-value functions, from sales and client engagement to innovation and team development. For more information and to access the full report – T&E and the Bottom-Line: Quantifying the Return on Investment of UK Business Travel – visit the web page here. Today, GBTA also simultaneously released a similar study outlining the ROI of business travel in the United States which found a $2.4 trillion sales opportunity through an 8.3% increase in T&E spending – read more here. In the coming months, GBTA will also release additional follow-up reports that will provide insights specific to corporations and across industries, as well as on the impact of managed travel and role of travel management companies. METHODOLOGY GBTA's analysis models industry sales as a function of several core revenue drivers—including product or service demand, capital investment, input costs, travel prices, and business travel expenditure (T&E). These additional variables were included to control for their effects, enabling GBTA to isolate the incremental contribution of business travel. All data was adjusted for inflation prior to modeling, and GBTA's estimates are based on a panel dataset spanning 2000 to 2024, covering 14 major UK industries and the aggregate economy. ABOUT GBTA The Global Business Travel Association (GBTA) is the world's premier business travel and meetings trade organization serving stakeholders across six continents. GBTA and its 9,000+ members represent and advocate for the $1.48 trillion global business travel and meetings industry. GBTA and the GBTA Foundation deliver world-class education, events, research, advocacy, and media to a growing global network of more than 28,000 travel professionals and 125,000 active contacts. For more information, visit and View source version on Contacts MEDIA INQUIRIES: Fintan Hastings, GBTA PR & Communications, EMEA & APAC, fhastings@ press@ Fire On The Hill PR, gbta@ Sign in to access your portfolio
