In an era where every industry is undergoing rapid transformation, it's pivotal to gather insights from those navigating the currents of change. Malin shared the stage at the Women in The Industry Summit at IBEX 2023 in Tampa, reflecting on leadership and the future of the marine industry. This is a glimpse into her perspective on the opportunities that lie ahead, especially for the next generation of leaders.
It is more important than ever as a leader to dare to try and embrace new things.
The marine industry is in the midst of a large transformation from many different perspectives. More now than ever before, there is a fantastic opportunity to attract and retain more diversified customers to consumer boating, including younger audiences, with a range of backgrounds and experiences. Already in recent years, the industry has seen a surge of new boaters and it is our shared responsibility across the marine industry to ensure they stick with boating.
And, yet there is still potential for enabling even more people to explore the sea. According to the National Marine Manufacturers Association (NMMA), there are 91 million new potential boaters in the USA market alone. We need to be more multi-dimensional and precise in demonstrating added value to current boaters, in parallel with identifying ways to attract new potential boaters.
Increasing customer value to a new boater might be different than a current boater. Some people will want to own a boat while others just want to have access to one. New boaters coming in will want to have the same customer experiences they have with their cars. Here connectivity is a key enabler that will provide many new opportunities on and offboard. Another enabler is the evolution of onboard features to deliver an easy, seamless and intuitive experience – like Volvo Penta Assisted Docking as one example already on the market today.
We are moving into a transformation. In order to be more precise with how we develop new technology and customer value, we can use AI to better understand the needs from a customer perspective. The acceleration of AI and access to data will unlock even further potential to attract tomorrow’s boaters, by enabling personalization of the experience in line with the boater’s personal preferences. Data combined with customer insights will be crucial. The possibilities are endless - from using AI for narrowing down where to find an issue if there is a failure to finding user patterns in big data streams.
With all this in mind, no matter which industry you are in, you should be more scared of standing still than being afraid to try new things. Daring to learn, daring to try, and daring to fail are critical values to possess as a leader. We need to be flexible, agile, and visionary in our thoughts because whatever situation we are in now will not necessarily be the one in which we find ourselves in the future. Not only do you have to intimately understand the business you are in, but you also need to know where it is heading. And what new technologies will have an impact on you, where AI is a great example.
Furthermore, we have a fantastic opportunity to make a difference for the next generation when it comes to sustainable seas. We have to work together in this transformation. This includes pushing ourselves towards energy efficiency and circularity, but also diversity, inclusion and better working conditions.
As we embrace this revolutionary journey ahead, it is key as a leader to surround yourself with people who challenge your thoughts and help you grow, be it a manager, mentor, or anyone else. Be a torchbearer of change, leading with empathy and inclusiveness, daring to venture into uncharted territories, and making history.
It is more important than ever as a leader to dare to try and embrace new things.
The marine industry is in the midst of a large transformation from many different perspectives. More now than ever before, there is a fantastic opportunity to attract and retain more diversified customers to consumer boating, including younger audiences, with a range of backgrounds and experiences. Already in recent years, the industry has seen a surge of new boaters and it is our shared responsibility across the marine industry to ensure they stick with boating.
And, yet there is still potential for enabling even more people to explore the sea. According to the National Marine Manufacturers Association (NMMA), there are 91 million new potential boaters in the USA market alone. We need to be more multi-dimensional and precise in demonstrating added value to current boaters, in parallel with identifying ways to attract new potential boaters.
Increasing customer value to a new boater might be different than a current boater. Some people will want to own a boat while others just want to have access to one. New boaters coming in will want to have the same customer experiences they have with their cars. Here connectivity is a key enabler that will provide many new opportunities on and offboard. Another enabler is the evolution of onboard features to deliver an easy, seamless and intuitive experience – like Volvo Penta Assisted Docking as one example already on the market today.
We are moving into a transformation. In order to be more precise with how we develop new technology and customer value, we can use AI to better understand the needs from a customer perspective. The acceleration of AI and access to data will unlock even further potential to attract tomorrow’s boaters, by enabling personalization of the experience in line with the boater’s personal preferences. Data combined with customer insights will be crucial. The possibilities are endless - from using AI for narrowing down where to find an issue if there is a failure to finding user patterns in big data streams.
With all this in mind, no matter which industry you are in, you should be more scared of standing still than being afraid to try new things. Daring to learn, daring to try, and daring to fail are critical values to possess as a leader. We need to be flexible, agile, and visionary in our thoughts because whatever situation we are in now will not necessarily be the one in which we find ourselves in the future. Not only do you have to intimately understand the business you are in, but you also need to know where it is heading. And what new technologies will have an impact on you, where AI is a great example.
Furthermore, we have a fantastic opportunity to make a difference for the next generation when it comes to sustainable seas. We have to work together in this transformation. This includes pushing ourselves towards energy efficiency and circularity, but also diversity, inclusion and better working conditions.
As we embrace this revolutionary journey ahead, it is key as a leader to surround yourself with people who challenge your thoughts and help you grow, be it a manager, mentor, or anyone else. Be a torchbearer of change, leading with empathy and inclusiveness, daring to venture into uncharted territories, and making history.
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