Please refer to article & describe how technology drives new business strategy. Also, provide an example of where technology has influenced your organization and how that relates to strategic planning.
The cross between process innovation and IT in the car rental industry at Hertz is inseparable. We don’t talk about them separately. They’re totally linked at the hip, and they are our strategy. We have a rolling three-year strategy. We call it a strategic architecture. There are four pillars in that architecture, and technology is one of them. Process is another one, and then there are people and market strategies. Right now technology is beyond the enabler of where we’re going from a competitive strategy in the future. We just entered car sharing, and so we launched car sharing. The technology that we’ve developed in the car sharing space is already some of the best-in-class technology, and it will differentiate the way we do business three to five years from now. Today car rental is typically a line item on your travel itinerary. For a business traveler, it’s picking up the car wherever you’re landing, using it to do your business, and then returning it. It’s a line item on the itinerary. It’s the same thing on your vacation. We want to go from being just your travel itinerary line item to part of your lifestyle. In order to do that, we have to be a seamless part of your life through technology. You’re enabled to interact with Hertz anytime, on your terms, from anywhere, from any device, and basically get the car of your choice where and how you need it. If that role changes from week-to-week or day-to-day, which is totally possible, it becomes more part of a community than it is just a customer-to-supplier relationship. When you think about going from car sharing all the way through longer-term leasing, you have whatever you need. Basically you rent a car for an hour or rent it for a year and change in between if you need to. That’s only possible through technology. You can’t cost competitively. Do that and you can’t enable the customer to control that experience without technology. So that’s our vision