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Among companies where big data, cloud, mobile, and social technologies are critical parts of the infrastructure, how technologies are, or will soon be? 

Forty-four percent of survey respondents say that mobile is now a critical part of their infrastructure. It’s especially important in some industries—51 percent of the respondents in the utilities and technology sectors indicated that mobile devices and access are critical. Nearly two-thirds (64 percent) of respondents say that “anywhere access” to corporate apps and data is the biggest benefit to using mobile, followed by increased productivity (53 percent). The two are undoubtedly linked, as mobile access to systems optimizes employee time.

A majority of survey respondents indicate that putting mobile functionality in the hands of employees is now a key requirement, and leading companies are also leveraging the growing ubiquity of smartphones to innovate and drive top-line revenue growth. Management of the Detroit Lions professional football team, for example, is always looking for ways to improve the fan experience. In addition to offering wireless Internet access at Ford Field to Verizon customers and launching a digital raffle for charity on game days, the Lions released a free smartphone application that features exclusive in-stadium game day content, including instant replay from several different camera angles for every play, and concession maps. Eventually, the Lions intend to add other features to the smartphone app, including in-seat concession ordering.

 

“Mobile is a gateway to our fan base,”

says Thomas Horrom, vice president of technology for the Detroit Lions.

 

“Without it, we’re not able to get creative or innovative in our engineered touch points.”

Delta Air Lines is another company that is using mobile technologies to innovate. The airline announced it had begun equipping its 19,000 flight attendants with mobile devices, which have increased incremental revenue from in-flight purchases.

Here are some steps you can take to ensure that your clients receive excellent service every step of the way.

  1.  Put your customer service policy in writing. These principles should come from you, but every employee should know what the rules are and be ready to live up to them. This doesn’t have to be elaborate. Something as simple as “the customer is always right” can lay the necessary groundwork, although you may want to get more detailed by saying, for instance,any employee is empowered to grant a 10 percent discount to any dissatisfied customer at any time.”
  2.  Establish support systems that give employees clear instructions for gaining and maintaining service superiority. These systems will help you outservice any competitor by giving more to customers and anticipating problems before they arise.
  3.  Develop a measurement of superb customer service. Don’t forget to reward employees who practice it consistently.
  4. Be certain that your passion for customer service runs rampant throughout your company. Employees should see how good service relates to your profits and to their futures with the company.
  5. Be genuinely committed to providing more customer service excellence than anyone else in your industry. This commitment must be so powerful that every one of your customers can sense it.
  6. Share information with people on the front lines.Meet with your employees regularly to talk about improving service. Solicit ideas from employees-they are the ones who are dealing with customers most often.
  7. Act on the knowledge that what customers value most are attention, dependability, promptness and competence. They love being treated as individuals and being referred to by name.

 

The efficient market hypothesis suggests that future share prices cannot be predicted by studying past prices and as we have seen, there is extensive evidence to support this view and the right information in collaborating with your partners. Despite the evidence, investment strategies based on the study of past share prices, or on the analysis of published information such as annual accounts, are common, and the view held by many financial analysts seems to be therefore that capital markets are inefficient.

Technical analysis involves the use of charts (Chartism) and other methods to predict future shares prices and share price trends, clearly implying that a relationship exists between past and future prices. For technical analysis to lead to abnormal returns on a regular basis, capital markets cannot even be weak form efficient.

Fundamental analysis are public information to calculate a fundamental value for a share and then offer investment advice by comparing the fundamental value with the current market price. It is not possible to make abnomal gains from fundamental analysis if capital markets are semi-strong form efficient, since all publicly available information will already be reflected in share prices.

Bolster the growing consensus among academics, consultants, and other industry experts that simply spending more on emerging technologies isn’t enough to boost business outcomes. Instead, companies that both identify which core business capabilities they need to differentiate and make a commitment to transform these core business capabilities with the right digital technology will greatly outperform competitors who don’t.

For example, a new study by George Westerman, Didier Bonnet, and Andrew McAfee found that firms with a strong vision and mature processes for digital transformation were more profitable on average, had higher revenues, and achieved a bigger market valuation than competitors without a strong vision.  As with any emerging technology, however, there are significant challenges associated with cloud, mobile, social, and big data initiatives.  The survey suggests that the primary risks preventing their wider adoption are data security issues, lack of interoperability with existing IT systems, and lack of control.

However, executives from leading organizations—several of whom were interviewed for this report— are overcoming those hurdles to achieve top-line and customer-facing business benefits. Strategic options involve the options for strategy in terms of both the directions in which strategy might move and the methods by which strategy might be pursued.

For example, an organisation might have to choose between alternative diversification moves, for example entering into new products and markets. As it diversification moves, it has different methods available to it for example, developing a new product itself or acquiring an organisation already active in the area.



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Latest News for Strategy Business Developments

Financial Goals

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In the new case of the industries you  should be proactive in helping achieving and creating your goals.

When you’re a start-up with few employees and few customers, it’s easy to stay on top of what customers want and what they’re getting. But as you add more customers and employees, you add links to the customer service chain. That creates the potential for growth and the potential for poor service along the way. That’s why creating a customer service policy and adhering to it is so important. Here are some steps you can take to ensure that your clients receive excellent service every step of the way.

  1. Put your customer service policy in writing. These principles should come from you, but every employee should know what the rules are and be ready to live up to them. This doesn’t have to be elaborate. Something as simple as “the customer is always right” can lay the necessary groundwork, although you may want to get more detailed by saying, for instance, “any employee is empowered to grant a 10 percent discount to any dissatisfied customer at any time.”
  2. Establish support systems that give employees clear instructions for gaining and maintaining service superiority. These systems will help you outservice any competitor by giving more to customers and anticipating problems before they arise.
  3. Develop a measurement of superb customer service. Don’t forget to reward employees who practice it consistently.
  4. Be certain that your passion for customer service runs rampant throughout your company. Employees should see how good service relates to your profits and to their futures with the company.
  5. Be genuinely committed to providing more customer service excellence than anyone else in your industry. This commitment must be so powerful that every one of your customers can sense it.
  6. Share information with people on the front lines.Meet with your employees regularly to talk about improving service. Solicit ideas from employees-they are the ones who are dealing with customers most often.
  7. Act on the knowledge that what customers value most are attention, dependability, promptness and competence. They love being treated as individuals and being referred to by name.

 

It has been about trust and it has been about getting there faster than anybody else,as we are driving innovation and bring ideas from other industries through our success.

 

Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled.” 

 Howard Stevenson 

 

This is one of the first definitions of entrepreneurism.It perfectly captures the nature of entrepreneurship and highlights some key qualities that successful entrepreneursshare. Entrepreneurs are confident in their abilities and they are able to recognize opportunities where many others don’t see them.




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The Latest Business News  On Strategy Practise

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Create differentiation and leadership digital engagement, alignment, innovation persistency connectivity, mobile and cloud lead into market efficiency. This initiatives are driving manufacturers to move at the speed of thought. Leverage this transformation is important.

 

However, market efficiency – championed in the efficient market hypothesis (EMH)”

 

Formulated by Eugene Fama in 1970, suggests that at any given time, prices fully reflect all available information on a particular stock and/or market. Fama was awarded the Nobel Memorial Prize in Economic Sciences jointly with Robert Shiller and Lars Peter Hansen in 2013. According to the EMH, no investor has an advantage in predicting a return on a stock price because no one has access to information not already available to everyone else.

 

The Effect of Efficiency: Non-Predictability

The nature of information does not have to be limited to financial news and research alone; indeed, information about political, economic and social events, combined with how investors perceive such information, whether true or rumored, will be reflected in the stock price.

According to the EMH, as prices respond only to information available in the market, and because all market participants are privy to the same information, no one will have the ability to out-profit anyone else.

In efficient markets, prices become not predictable but random, so no investment pattern can be discerned. A planned approach to investment, therefore, cannot be successful.

 

“This random walk of prices”

 

Commonly spoken about in the EMH school of thought, results in the failure of any investment strategy that aims to beat the market consistently. In fact, the EMH suggests that given the transaction costs involved in portfolio management, it would be more profitable for an investor to put his or her money into an index fund.

 

Anomalies: The Challenge to Efficiency

In the real world of investment, however, there are obvious arguments against the EMH. There are investors who have beaten the market – Warren Buffett, whose investment strategy focuses on undervalued stocks, made billions and set an example for numerous followers.

There are portfolio managers who have better track records than others, and there are investment houses with more renowned research analysis than others. So how can performance be random when people are clearly profiting from and beating the market?

Counter arguments to the EMH state that consistent patterns are present. For example, the January effect is a pattern that shows higher returns tend to be earned in the first month of the year; and the weekend effect is the tendency for stock returns on Monday to be lower than those of the immediately preceding Friday.


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Latest News & Developments in Business Strategy Practice

Drive Digital


How Marketers Can Connect Profit and Purpose

It takes time for a big idea to make its way into business practice. Six years ago, Harvard’s Michael Porter and FSG’s Mark Kramer made the bold statement that shared value —the idea that the purpose of a company is to achieve both shareholder profit and social purpose — 

 

To  reinvent capitalism.

 

They encouraged companies to go beyond CSR (corporate social responsibility) and integrate social impact into companies’ competitive strategy. And, Nathaniel Foote and Russ Eisenstat proposed 

 

“ A better way to manage in the 21st century.

 

They found “higher-ambition” leaders achieved superior performance by doing well and doing good. For the last six years, they have worked with a group of top marketing executives and business leaders in Silicon Valley and the Bay Area from companies large and small. Each year they assess the issues that are most top-of-mind. From digital platforms to customer experience to crisis management, these priorities have been a bellwether for what would soon dominate boardroom discussions and headline business publications.

This year the issue of profit and propose came to the fore, echoing the earlier manifestos. To understand the connections and applications, interviews with over 20 CMOs and CEOs, finding a remarkably similar pattern across a highly diverse set of companies. To find widespread agreement that having great products and services and being a “good corporate citizen” are table stakes in a world of empowered citizens and consumers.

Melissa Waters, CMO of Lyft, says,

Any customer these days is asking for transparency on what a company stands for and why they operate. But you can’t exist just to make the world a better place.

Purpose today goes well beyond corporate social responsibility. According to Alicia Tillman, CMO of SAP,

Purpose can’t be viewed as a department or initiative. It must be woven into a company’s operational fabric. Purpose is a lodestar guiding and inspiring everyone to create economic and societal value together.”

In a sense, purpose is following the path that digital has taken in the enterprise.


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News & Economic Trends

 

Learning and Flow

 

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Because flow emerges in the zone in which an activity challenges people to the fullest to their capacities, as their skills increase it takes a heightened challenge to get into flow.

If a task is too simple, it is boring; if too challenging, the result is anxiety, rather than flow.

It can be argued that mastery in a craft or skill is spurred on by the experience of flow that the motivation to get better and better at something, be it playing the violin, dancing, or gene spicing, is at least in part to stay in flow while doing it.

“Flow is an internal state that signifies a kid is engaged in a task that’s right.”

Flow_colour_chart_large


The flow model suggests that achieving mastery of any skill or body of knowledge should ideally happen naturally.

Csikszentmihalyi found that it was those who in their student days had savored the sheer joy, became serious. Whether it be in controlling impulse and putting off gratification, regulating our mood so they facilitate rather than impede thinking, motivating ourselves to persist and try, try again in the face of setbacks, all bespeak the power of emotion to guide effective effort.


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Latest News for Strategy Business Developments

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A chance to catch up on much-needed reading to refresh and recharge your standards and leadership style scoured this lists of books that helped to look at life and work in a whole new way. While these books are not your typical newest releases, they have timeless value and are best read together to rejuvenate yourself and, by extension, your team.

The review by Rebecca Talbot, Content Marketing & Research Manager & Leadership Story Lab sais:

Feeling comfortable in our workplace can have its downsides. It’s easy to fall into patterns and make assumptions about the people we spend our days with.”

The Coaching Habit by Michael Bungay Stanier offers a way to get beyond our assumptions about our coworkers’ behavior and learn their stories instead. Stanier’s short book explores seven questions managers can use to get people talking, and to train themselves to avoid thinking they “already know” what’s motivating people. His first question is simply:

What’s on your mind?

When we are willing to start our conversations with an open-ended question, the answers might surprise us!And that’s Stanier’s whole point-that we need to approach each other with far more curiosity.

The “what’s on your mind” question resonated with me because it is a question my dad used to ask me often when I was a teenager. The respect and curiosity implied in the question worked well to encourage a teenager to talk.

Likewise, family, friends and colleagues generally need an invitation before they will share what’s been important to them lately. Now that Stanier has reminded of that, I’ll be using this question more frequently.

 


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Latest Financial Topics for Strategy & Business Developments

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By the end of the century, a third of the workforce will be “knowledge workers”, or people whose productivity is marked by adding value to information, whether as market analyst, writers, or computer programmers.

Peter Druker, the eminent business maven who coined the term “knowledge worker“, points out that such workers’ expertise is highly specialized, and that their productivity depends on their efforts being coordinated as part of an organisational team: writers are not publishers; computer programmers are not software distributors. While people have always worked in tandem, Druker notes that with knowledge work,

” Teams become the work unit rather than the individual himself.”

Perhaps the most rudimental form of organisational team-work is the meeting, that inescapable part of an executive’s office in a boardroom, on a conference call, in someone’s office.

Meetings bodies in the same room are but the most obvious, and at the somewhat antiquated, example of the sense in which work is shared.

Electronic networks, email, teleconferences, work teams, informal networks and the like are emerging as new functional entities in organisations. To the degree that explicit hierarchy as mapped on an organisational chart is the skeleton of an organisation, these human touch points are its central nervous system.

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The total the talents and skills involved, whatever people come together to collaborate, whether it be in an executive planning meeting or as a team-working toward a shared product, there are in a very real sense on which they have been included in a group of IQ.

In maximizing the excellence of a group’s product, the degree to which the members were able to create a state of internal harmony, lets them take the advantage of the full talent of their members.


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Latest News Section Sources Including Companies and Bank Reviews

Exploring Corporate Strategy

1. Human resource management and global business strategy

Challenges position, choices and action that should be seen as closely related. In practise none has priority over another, this sequence is not meant to suggest that the process of strategic management must follow a neat and tidy path. Indeed, the evidence on how strategic management happens in practice suggest that it usually does not occur in tidy ways.
Elements of strategic management in linear sequence is characterised first by understanding the strategic position, than strategic choices and finally putting strategy in action. Indeed, many texts on the subject to just this. However, in practise, the elements of strategic management do not follow this linear sequence, they are interlinked and feed back on each other.

The inter-connected circles of the above exhibit are designed to emphasise this non-linear nature of strategy.

Corporate social responsibility is among the top challenges. Companies face when expanding into new markets, especially in developing regions.

Business practices that are acceptable locally are frequently at odds with the values of the company and the laws of its regulatory agencies. This creates a tug-of-war between social responsibility and the need to be successful in those markets, which can turn into significant risk.
Guiding corporate strategic decision-making challenge incorporating the human capital opportunities and risks from operating abroad into corporate strategic decision-making workforce opportunities that are marked both by steady improvements through the political machinations that open trade across borders and enable cross-border migrations, and by sudden and often unexpected changes such as the relaxation in relations between the United States and Cuba; conflicts in Syria, Iraq and Ukraine; and dramatic swings in oil prices.
The challenge for companies is to remain nimble to take advantage of the opportunities while avoiding the risks. HR’s challenge is to gather, assess and understand all the cultural, labor and market complexities of operating in each market so that the company can predict opportunities and risks, know when to enter or exit a market, and integrate successfully into new local markets.
The success of a company’s global growth hinges on HR integrating the workforce. HR-led teams need to assess the complexities of bringing together workforces with often dissimilar societal and corporate cultures. HR can, for example, identify potential roadblocks early and plan interventions before problems arise. The food facilities management company Sodexo identified a need for diversity and inclusion across its 355,000 employees from North American to China. It developed training programs that resulted in significant numbers of women, youths, people with disabilities and indigenous workers productively joining its workforce across the globe.

2.Making the business case for CSR

The challenge for HR is to gain a detailed understanding of local environments and their accepted business practices. It then needs to establish protocols that are customized for each region and communicate these protocols throughout the organization and across its supply chain.
When local labor laws or practices conflict with the organization’s CSR policies, HR needs to be the voice of the individual and ensure that the company maintains its integrity, even when this goes against the potential economic value.

HR faces the additional challenge of demonstrating to the company how good CSR policies strengthen the brand, increase customer loyalty and boost shareholder value.

3.Balancing corporate and societal cultures while promoting diversity

Some cultural attributes, such as a command-and-control management style, can be modified to fit local cultures, while others, such as integrity and human rights policies, cannot be compromised. HR needs to understand and deal with the complexities, deciding which corporate culture elements can change and which are essential to protecting the organization’s values and ethics. The company cannot change anti-bribery policies, but it may choose to change its dress-down-Fridays rule.

Management may also choose to impose cultural elements, such as giving back to the community consistently across the global organization. The challenge becomes even more complex when dealing with new workers, those engaged through means such as crowdsourcing, as well as remote and temporary workers.

HR also needs to develop programs to assist executives to adapt when they move from the head office to regions with different societal and cultural norms.



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The Latest News on Business & Development Strategy Practise

Systems of Record

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Money all spent in systematization, as you all know more than I do, it is not easy with all that data that you have collected. 

Until recently mainly used to expedite manufacturing, robots are increasingly appearing outside factory floors, in hospitals, labs and offices. To meet the requirements of these varying situations, developers have designed new models, such as soft robots and software robots. This creates 

 

“a digital workforce”

 

which represents a whole new operational, highly scalable, reliable and auditable work capability for businesses.

The use of software robots in this context has been called robotic process automation, or RPA.  While many people have fantasized about a day when they can delegate chores to robots and let them take the reins when it comes to innovation, the rise of these new breeds has left some observers wondering about their value to the workforce.

Many have expressed concern that by taking on core processes in factories, labs, hospitals, offices, robots will make people irrelevant and unemployed. But instead what’s resulting with early adoption of these machines is that there’s room for both robots and people – and the combination is enabling an unparalleled level of efficiency, customer service and innovation. Take Telefonica, for instance.

Under the direction of its head of digital service and transformation Wayne Butterfield, the telecom provider turned to software robotics made by my company, Blue Prism, after fully exhausting other methods of reducing costs while increasing efficiency of the back-office transactions it completes for customers. While software robots were an obvious choice in terms of speeding up processes and slashing corporate spending, members of the IT department were skeptical. They doubted whether the software robots were capable of accurately completing complex procedures like transferring customers’ SIM card data from old phones to new devices. But as software robots repeatedly demonstrated their value automating thousands of monthly transactions, the IT department could no longer dispute the advantages of a digital workforce.

 

What’s important to understand is that people are still involved in the process.

 

Not only do managers train robots much like how they do for new employees – teaching them rules and the ins and outs of particular procedures – but processes can be triggered by a customer or an employee. Many of you are doing this for over 30 years but now it’s not about being focused in improving your process, but also being focused in connecting it with your customer and now mobilising that information to be out in the field. It’s a study made by McKinsey that said that digital transformation is very important to us but we are 13% ready. So how do you get ready?

 



 

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The Latest Business Strategy Practise & Contemporary DevelopmentsNews

 

 

Differentiation Strategy

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Every business faces an identity crisis during its evolution. Executives of young companies are constantly questioning how to build a differentiated identity in a saturated industry. Even pioneers in uncharted territory will, before too long, need to find their voice.”

Intense competition means you’re onto something good. It also means your industry will shape you if you are not tenacious about defining yourself. There are three fundamental strategies that are instrumental in distinguishing a company from its peers:

 

1. Cultivate a work environment that enables you to hire exceptional people

The prospect of achieving true value-driven business hinges on your ability to recruit the best talent in the industry. “A” players want to work alongside “A” players, so there is nothing more important than building a strong nucleus of talent. Hiring hastily during an inflection point of your growth can be the kiss of death in creating a culture of excellence.

Nothing gets top-tier employees more excited than being challenged to take on outsized responsibility, yet most work environments still adhere to a stripes-earning, teeth-cutting, dues-paying mentality that stifles growth.

One of the ways you’ll be able to succeed in attracting exceptional talent is by showing that you strive to be a perfect meritocracy, unfettered by the requirements around age or experience.

 

2. Question everything but challenge selectively

Adhering solely to industry standards and best practices is a surefire way to camouflage a company in the market. Businesses strongly positioned for long-term success tend to believe adamantly that their industry’s best practices have yet to be discovered. There is an important distinction between questioning every industry assumption and assuming that every industry practice is flawed – it is a thin line between curiosity and arrogance. In the quest to innovate, leave no stone unturned. If the industry got it right, turn that stone back over.

For instance, when it was set out to build Urban Compass, it was aimed to innovate on three fronts:

Scope: While most real estate firms tackle a very thin sliver of the real estate experience, they wanted to build a product for the holistic experience – search, schedule, visit, purchase, move, and connect to new neighborhoods.

Technology:  They have bringed data and technology to a space in which no one had founded a way to harness these elements in a valuable way.

Compensation: They’ve callenged the assumption that agents should be paid on commission and piloted a salaried real estate agent model, in which agents received bonuses for delivering good customer service.

While it was gained a tremendous traction because of the innovation on scope and technology, it was found that the initial innovation on compensation was actually detracting value: it had prevented from hiring top performing agents who wanted to benefit from the upside of commission, and misaligned incentives for the current agent base, who were being paid to be nice, not to help their clients close deals. From since it was turned that stone back over, and it was a match to the industry standard on paying out commissions.

This was an important lesson:

Be exhaustive in questioning industry assumptions, be selective in challenging.

 

3. Focus relentlessly on value

Proclaiming the need to focus on value may sound like a truism, but it is remarkably easy to forsake the path of substance. Businessman and author Ben Horowitz aptly said in order for a customer to switch to your product, it needs to be 10 times better than the product they are currently using. The only way to ensure this is by employing a laser focus on value and eliminating all distractions.

This demands not only discernment between value and distraction, but requires the discipline not to pursue the distraction. As a young company, you’ll face this challenge every day, and sometimes the choice is between less engaging tasks to create value or more interesting tasks destroying value. Making the choice to select substance over splash is critical in building a deep, unique product.


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