These days tech companies or tech-Co are everywhere and working in tech is as cool as it can get, perhaps tech is creating more opportunities for many and yet burgeoning in many facets of our daily life and existence. Consequently, tech-co differs from one another in the way they are set up and in their overall business objectives. This is visibly evident in their organizational process, business direction & operations, engagement procedures, and even job descriptions. Let’s ride…
1) PRODUCT-BASED TECH-CO – These kinds of Tech-Co are the latest in the foray and have spearheaded the frontiers of the new tech economy by simply staying true to creating only product(s) oftentimes direct-to-market or consumer-facing. These tech-cos typically live and exist for these products. In essence, the product(s) is the lifeline, the company is built around the product(s) and the PRODUCT is the COMPANY. Examples are Netflix, PayPal, Uber, Zoom… In Nigeria, companies like PayStack, Quickteller (Interswitch), Flutterwave, uLesson, and OPay would fit in.
They typically make use of:
- Product Managers
- Product Marketers
- Project Owners
- Product Requirement Documents (PRDs).
- Vice President Nomenclature (Example: Vice President, Product Marketing).
2) PROJECT-BASED TECH-COs – These are basically tech-servicing companies that typically provide tech solutions and services to external businesses, governments, or institutions. These services or solutions are often characterized as projects. In the early developmental stages of the tech economy, most tech-cos were project-based and they provided services or solutions as a one-off, concierge, retainer, subscription, or contractual model. Examples are Siemens, SAP, SAGE Innovate1, and ABB, In Nigeria companies like Chams, Sidmach Nigeria, and Fintrak readily come to mind.
They may prefer:
- Business Analysts over Product Managers
- Business Managers over Product Marketers
- Project Managers over Project Owners
- Business Requirements Specification (BRS) over Product Requirement Documents (PRD).
- Chief over VP Nomenclature Example: (Chief Technology Officer over Vice President Technology).
3) THE HYBRID TECH-CO – These tech-cos essentially cuts through the intersection of products and projects. They are known to provide services (projects) and yet own products that are consumer-facing and market-driven. The hybrid tech-cos are the most dynamic and the most suitable for most market situations as they can easily drive multiple profit points but could be managing waste in business units that aren’t profitable. Global examples are Oracle, Cisco, and Microsoft, In Nigeria companies like SystemSpecs (Remita), Vatebra (VatPay), CWG (BillsnPay), and SoftCom (KwiqSell & Eyowo).
They typically set up projects and products to function independently so they may have all roles in different business units:
- Business Analysts & Product Managers
- Business Managers & Product Marketers
- Project Managers & Project Owners
- Business Requirements Specification (BRS) & Product Requirement Documents (PRD).
- Chief & VP Nomenclature Example: (Chief Technology Officer / Vice President Technology).
In today's world, technology companies, or tech companies, have become ubiquitous, and working in the tech industry is often considered highly appealing. Technology is undeniably shaping numerous aspects of our daily lives and existence, creating abundant opportunities for many. However, it's important to recognize that each tech company has its unique setup, distinct business goals, organizational processes, operational strategies, engagement methods, and job roles. Let's delve into the fascinating realm of tech companies and explore these differences.
ReplyDeleteThe landscape of tech companies often falls into three primary categories: hardware, software, and services. Hardware companies design and manufacture physical technology products like computers and smartphones. Software firms develop applications, operating systems, and digital platforms. Service-oriented companies offer tech-related services such as consulting, cloud computing, and cybersecurity solutions. Each category plays a distinct role in the tech ecosystem.
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