Tag Archive: news


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As the holiday season approaches, you may be thinking about employee gifts. While everyone appreciates a holiday treat, Cindy Ventrice, author of Make Their Day! Employee Recognition that Works (Berrett-Koehler Publishers) says holiday gifts and bonuses are now considered an entitlement in many organizations rather than a reward for hard work. People bank on their holiday bonuses.

“They plan their vacations, their gift giving, some plan it right into their income in terms of paying their bills. So, there is no appreciation element in many cases. They’re not seeing it as the reward. They see it as a piece of their compensation,”

says Ventrice.
While Ventrice is clear that companies shouldn’t do away with the holiday bonus, she argues that true recognition is not given through a one-time bonus check. Here are four things to consider when deciding how to thank your employees.
1. Include a personal message

“We often overlook the strength of written praise,”

says Ventrice.

She gives the example of an employee who kept handwritten notes of praise for years, pulling them out when they needed a confidence boost.

When you take a little bit of extra effort to put it in writing, it pays you back many times over. People read that over and over again,”

she says.
Messages should include specifics about the employee’s work and what was appreciated. They can be included in employee’s bonus envelopes or made into a group experience, such as a message board handwritten notes highlighting at least one thing that you value about each employee.

2. Know your audience

Ventrice says it’s difficult to come up with best practices when it comes to employee gifts because rewards will mean different things to different groups. Understanding what will make your staff enthusiastic is the first step in determining appropriate rewards.

“Know your staff – who they are and what they’re going to value,”

says Ventrice.
While a white water rafting adventure may be the perfect team-building reward for a young, fun office, a formal dinner at a fancy restaurant may be more suitable for a serious work culture.

3. Offer non-monetary compensation

Ventrice surveyed over 200 employees from 98 companies to find out what rewards they valued the most.

Across all ages and cultures, time off was absolutely number one,”

she says.

Flex time given for a specific accomplishment in the form of a longer lunch hour or going home early is a great way to show appreciation for a job well done.
The study confirmed that the cost of recognition awards has only minimal impact on employee perception of appreciation. Fifty-seven percent reported that the most meaningful recognition was free.Other forms of recognition that scored high included opportunities to learn from senior staff or take a course that wasn’t offered to everyone, and being given challenging assignments.

“Programs run by managers who know what makes recognition meaningful and know how to provide it translate into higher engagement, retention, loyalty and productivity,”

says Ventrice.


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Latest News for Strategy Business Developments

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In the fast-moving world of online marketing change is the only constant, emerging technologies, tough competition and increased consumer expectations have created plenty of uncertainty.

Many digital agencies are confused about how to deliver relevant ad experiences moving forward. However, in that uncertainty there are also tremendous opportunities to leverage data and deliver the personalized ad experiences consumers prefer. Advertisers can make the most of this and position themselves for long-term success – if they’re willing to question some longstanding assumptions.

Executing ad campaigns today takes a different set of skills and real-time bidding (a strategy search marketers have used for years) is now feasible for display, social, mobile, video, text, radio advertising and even TV.”

Executing search and display campaigns, for instance, used to require completely different skill sets. Now programmatic technologys merging them.

“Search and display are uniting under a common theme: leveraging data to target consumers with the right message, in the right place, at the right time.”

This creates huge opportunities (IDC estimates real-time advertising is growing 59 percent per year) only if agencies and marketers are willing to develop new skills and reassess how they’re delivering ad experiences.

The media buyer and agencies that win today -and tomorrow – have started to look a lot different than successful media buyers from the past.”

In understanding and developing the ability to buy in real time, traditionally, display media buyers negotiated with sellers to run ads for a fixed number of impressions or amount of time. All the terms were worked out beforehand in a conversational, delayed executed setting. Programmatic technologies allow advertisers to be more nimble. Instead of committing a significant chunk of their ad spend before seeing any results, advertisers can make small-scale buys, generate feedback and make adjustments in real time.

Buying becomes an ongoing process. Kellogg’s used real-time targeting to increase its ROI between five and six times.”

This creates enormous opportunities to maximize the ROI on every campaign. Buyers can use feedback to optimize campaigns on the fly – scaling successful ad buys and ceasing unsuccessful ones.

To develop analytical skills and strong technical knowledges,
the analytical skills could become increasingly important in executing successful ad campaigns. Seventy-five percent of CMOs are already using customer analytics to mine data. Acquiring these skills might seem intimidating for some media experts, but it offers huge advantages as advertising technology evolves.

“Going forward, successful media buyers will behave more like stock traders. They’ll analyze large sets of data, cross-reference them and run regression models.”


But they won’t stop there. It will be up to them to “translate” those numbers into actionable insights to best optimize ad campaigns.


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Latest News & Developments in Business Strategy Practice

A chance to catch up on much-needed reading to refresh and recharge your standards and leadership style scoured this lists of books that 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 and to that meaning find irresistible reading suggestions on new different ways of thinking as the following highlights. Find out more! Books are the only thing you can buy that gives you wealth and wisdom.

BEAT THE CLOCK! 2020 New Edition Available


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NEWS & OVERVIEW DISCUSSIONS IN DIFFERENT MARKET INDUSTRIES

Connecting Successes


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In challenge, success is based on others success.
The adage that two brains are better than one may explain why a lot of entrepreneurs and small business owners, create partnerships. However, it’s not just those brains that should work well together. Partners’ personalities need to get along too.

If you are a serial entrepreneur who’s launched many companies, making a number of partnerships in the long way, this could brought the learning of some priceless lessons when creating those partnerships.
Among the most helpful tips that they are to be discovered, a reliable one îs making sure that you get along with your business partner. It’s important to find someone who complements your skills, but don’t underestimate the importance liking one another.
Communication is another big part of a business relationship
There’s a great article from earlier this year about a long-lasting business partnership and communication is a theme that runs throughout.
You can learn many things about creating and maintaining partnerships during this past two decades. Although there are dozens of tips, here are five key lessons:

  • Partnership agreements: As I’ve mentioned in a previous post, a good thing to do is to have the right agreements in place. It’s important for business partners to have clear partnership agreements drafted by attorneys.
  • Clear expectations: I’ve also suggested to avoid the hard way thinking people, including business partners that can not predict the next step. I believe business partners should consistently set their expectations with each other.
  • Think about your clients: When evaluating a potential business partnership, I look at weaknesses. I also think about clients and what type of partnership would benefit them.
  • Mutually beneficial: It might sound obvious, but still should be noted. Partnerships should be mutually beneficial. In my experience, both sides need to gain something from the relationship for it to be worthwhile.
  • It’s ok to walk away: Like any relationship, a business partnership holds a great deal of promise. However, sometimes it doesn’t work out. That’s alright. Don’t stay in a business partnership if you believe it’s no longer viable. I’ve learned that it’s better to end the partnership and regroup than to force something that’s not working.

“For a better understanding to how to get started in achieving good partnerships, is taking in consideration the history in the early 1700s when workers gave way to machine operations and then the 1800s Henry Ford in mass production changed manufacturing forever, then came robotics, computers, lean manufacturing and the lean sigma. “

Each success is connected to get products out the door and now we got a connected understanding.


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The Latest News On Contemporary Developments in Business Strategy Practise


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

Expect change

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Commerce streams is within substantial amounts of foreign trade and hence movements of currency, result from the activities of very large multinationals companies or enterprises.

One sign of this the number of companies from the developing countries shows up within the Fortune 500 list of the world’s greatest companies.

Substantial amounts of foreign trade and hence movements of currency, result from the activities of very large multinationals companies or enterprises.

The transnationality list gives the degree of an MNE’s inclusion overseas by looking at three proportions remote asset/total resources, remote sales/total deals and remote employment. As such it captures the significance of outside exercises in its in general exercises. These multinationals are tremendous associations and their showcase esteem regularly surpass the GNP of numerous of the nations in which they work.

There are over 60000 MNE’s around the world and they are estimated to account for a quarter of the world’s output.

The development in MNE’s is due to unwinding on trade controls, making it simpler to move cash between nations, and the enhancements in communication, which makes it conceivable to run a world-wide commerce from one nation.


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Latest News for Strategy Business Developments

The power of systems

In selling directing through distributors and collaborate with installers and contributors for project service distribution, putting a system engagement employee it’s a solution that allows you to access information and make it available to your organisation.

An article from Harvart Business Reviews with the headline “The Digital Transformation of Business”, where they surveyed 537 of their customers that were asked about the most important place where they can begin in making investment, and there answer is in customers facing technology.
Although the four “megatrends” of cloud, big data, mobile and social technologies are clearly having a positive impact, industry watchers who believe that only a few early adopters have been able to transform their organizations with these technologies are mistaken.
Digital transformation is occurring rapidly at a majority of public and private sector organizations.

Business leaders are not simply deploying the four technologies to boost efficiency or otherwise cut costs. Instead, research shows that firms are embracing the megatrends to craft new business models, develop new revenue streams, or drive other material changes that lead to an increase in the top or bottom lines.

It’s a full-fledged mobile sales terminal for the whole customer experience,”

says Greenbaum.
Eventually, the mobile devices—together with a growing number of in-seat flat screen TVs—will enable Delta to sell higher-value seats, book new flights, reserve hotel rooms, or rent cars while in flight, delivering new services and new sources of revenue.
In addition, the airline says it will eventually provide flight attendants with customer-specific information from Delta’s customer relationship management (CRM) system on their mobile devices to enable more personalized service.

That’s pretty transformational,”

says Greenbaum.
The widespread use of mobile technologies is also having an impact on the public sector. For example, the Metropolitan Police in the United Kingdom wanted to dramatically improve the way suspects brought into the police station were processed.
Aside from the fact that the suspects weren’t always cooperative, the technology used to capture photos of the suspects was aging, and image capture had to be performed in a fixed manner by trained specialists in a specified location. At the end of the day “it was a cumbersome and difficult process,” says Richard Thwaite, chief information officer of the Metropolitan Police.

A. MOBILE CONNECTS EMPLOYEES TO THEIR WORK AND EACH OTHER

Benefits of using mobile devices and applications

To improve its booking process, the agency deployed tablets with specialized mobile applications to police officers so they themselves could capture multiple images and video clips of the suspects, including tattoos or clothing, in a less confrontational manner, and enter it into their systems quickly.

Other innovations the Metropolitan Police is pursuing include cameras on officers and a text messaging service to reduce emergency calls.

We are going to use technology to stop crime, arrest offenders, or help victims. We need to keep police officers out of police stations and reduce bureaucracy,”

says Sir Bernard Hogan-Howe.

Digital policing will help us to do this.”

Similarly, the growing ubiquity of mobile technologies is having a transformative impact by helping to deliver healthcare services to underserved populations.

None quarter of all stillborn births happen in India—600,000 a year in that country alone—largely because so many expectant mothers live too far away from sources of good maternal and obstetric care.

Wipro, a system integration services company, looked at the inefficiencies in delivery of medical care to these women in India and decided that there were several areas where technology could dramatically improve the process.

Last year, Wipro unveiled a system that enabled healthcare providers to deliver remote prenatal and cardiac care using mobile technologies.

The AssureHealth platform combines a mobile application, integrated medical devices, analytics, and cloud services. A wireless monitor records heart rates or uterine activity and delivers the information via Bluetooth to the mobile device.

The device sends the data to the cloud, where it is analyzed, and a doctor hundreds of miles away can download the results and provide an assessment in real time. In areas of India where health services aren’t readily available, explains T.K. Padmanabha, CTO of Wipro,

what is available is the phone.”

With regard to the risks involved in deploying mobile technologies, the survey found that data security far outpaces other concerns.
Survey respondents who said mobile technologies are a critical part of their infrastructure are also likely to name data security as their number one worry.

Employees have access to your data on a device they can—and will—lose,”

says David Chappell, principal with technology consultancy Chappell & Associates.

The portability of data and apps, plus the use of personal devices, raises red flags.

B.SECURITY RISKS ARE RELATIVE

Data security ranks as an important risk, especially for mobile and cloud

Security is an important concern with all four of the megatrends. When it comes to the public cloud, for example, security is

“a trust issue,”

says Chappell.

And it takes time to build that trust.”

Greenbaum notes that executives are more aware of security issues these days because of recent events, including revelations about the U.S. government’s National Security Agency (NSA) snooping, massive data breaches at Target and other retailers, and the Heartbleed bug that exposed vulnerabilities in a widely used web security protocol.
Leading companies are dealing with the security risks associated with the widespread adoption of mobile technologies by developing sound BYOD strategies.
They are adopting device encryption and two-factor authentication, as well as using Mobile Device Management (MDM) solutions to wipe out corporate data on devices if they are lost or stolen.

C. CLOUD COMPUTING DRIVES BUSINESS AGILITY

According to the study, 53 percent of respondents said that the cloud’s ability to deliver flexible capacity as needed is the technology’s leading benefit, followed by 50 percent of respondents who said that increased business agility was its main benefit.

Forty-three percent pointed to lower fixed costs from using cloud-based solutions as its key benefit. Going forward, cloud computing is primed to have a powerful impact on businesses in 2015.

More than three-fifths (62 percent) of respondents say cloud will transform their businesses in the next 12 months, up from 47 percent who say it’s doing so today. It will also change the way people work, according to 56 percent of those surveyed.

While cloud technologies have clearly had an impact on IT departments, companies are doing more with them than revamping IT operations.

We’re beyond the first generation of cloud transformation, which was just facilitating the move from capital to operating expense. Now we’re looking at ways in which we can more easily enable collaboration and deploy services in elastic fashion,”

offers Greenbaum.

D. CLOUD MAKES BUSINESS FLEXIBLE AND COST EFFECTIVE

Benefits of cloud computing

Companies need to be agile, flexible, and fast to meet customer expectations. Cloud computing can be key to that responsiveness.

We have customers who give us 90 days to get something up and running,”

observes Padmanabha of Wipro.

There’s no way I can do that in my traditional data center.”

The public cloud delivers a time-to-market advantage that’s hard for enterprises to beat.

“We see a lot of traction with customers who have projects that have a short window of time to deliver results,”

Padmanabha says.
Wu Feng, a professor of computer science, electrical & computer engineering, and health sciences at Virginia Tech, concurs that the flexible capacity of cloud-based solutions can enable dramatic increases in performance that weren’t available previously.

Next-generation sequencers are capable of doubling the amount of data that they generate every eight or nine months.

We’re generating data faster than we can analyze it,”

Feng says.

A cloud solution, which optimizes data management and data transfer, delivers better performance and access to DNA sequencing tools and resources, leading to faster advancements in medical research.
As with mobile, security issues and privacy concerns are the main barriers that inhibit cloud adoption.

“I’m in a highly regulated business. Beyond that, I’m in a consumer-facing business where I’m accountable for the stewardship of personally identifiable customer data,”

says Ray Voelker, CIO of Progressive Insurance.

Because encrypting data in the cloud would slow down the speed of analytics, Voelker says he’s evaluating hybrid cloud solutions.

Most companies look at a hybrid environment,”

says Greenbaum.

“They don’t do everything in the cloud. But as new services and capabilities and opportunities come up, they look to do that via cloud services.”

Despite some hesitation, the study identified strong support for cloud-based solutions as more than just a way to reduce IT infrastructure and personnel spending.

The study found that leading companies are using the rise of public and private cloud computing to create new business models and services in addition to taking advantage of the greater cost efficiencies and scalability features that the cloud provides.

E. BIG DATA HELPS COMPANIES INNOVATE

The advent of new data analysis solutions such as in-memory computing, along with the ability to host many of these solutions in the cloud, is enabling enterprises to overcome the traditional barriers to big data analysis.

Organizations today have the ability to process and analyze large quantities of structured and unstructured data to generate business insight in real time. With the advent of the Internet of Things (IoT)—including wearable computing, connected cars, and smart cities—the amount of data organizations have available to analyze is set to increase exponentially.
Even now, just over half (54 percent) of respondents say that big data has transformed their organizations; 70 percent expect it to do so going forward.

For those who master big data, the biggest payoffs are allowing the integration of more data into decision making processes (according to 62 percent) and enabling faster generation of insights (cited by 52 percent).
Progressive has collected more than 178 terabytes of data via Snapshot—11 times the amount of all data stored by the Library of Congress.

It provides for a much more accurate pricing method for Progressive than estimating a customer’s potential for loss based on information like age, gender, and type of car, says Voelker.

What’s more, it has enabled an entirely new and successful product category—usage-based auto insurance.

It’s revolutionary to us,”

says Voelker.

Every time we find a more powerful segmentation variable, it drives more growth.”

Another example of a leading organization using big data to innovate comes from Auckland Transport, New Zealand’s public transport agency.
The agency analyzes four terabytes of operational data, including bus ridership, to discover the most popular routes, identify routes to expand, and improve the customer experience.

It’s a substantial undertaking,”

says Roger Jones, Auckland Transport’s manager of IT and business systems.

We have to figure out how to transform that data to information and then make that information relevant to the customer.”

In the future, Auckland Transport plans to analyze images from around the city to understand where traffic congestion occurs or to assist with public safety.

Ultimately, the agency will deliver personalized alerts to citizens letting them know their bus is running late or that there’s increased traffic on their usual route to work.
Despite the promise of big data, however, it remains hard to manage, hard to interpret, and hard to integrate into day-to-day business operations and decision making. Further, success doesn’t happen overnight.

The companies that are good at [big data] have been working on it for quite a while,”

says Thomas H. Davenport, professor of IT and Management at Babson College and author of Big Data @ Work.

Davenport points out that one of the earliest users of business analytics—UPS—has been working on telematics to track its packages and delivery trucks for 25 years but only recently announced plans for analytics-based dynamic routing (itself a project 10 years in development).

Further, skilled data analysts and scientists, who understand both the statistical modeling and the business applications of big data, are hard to find.
Nearly half of respondents (48 percent) say that a lack of data analysis skills is the biggest barrier to big data. Even those who regard big data as a critical part of their operations find it difficult to hire the necessary talent.

Leading companies are addressing this talent shortage by hiring skilled contractors or working with consulting firms that have big data practices.
Some are getting more creative. Jones, at Auckland Transport, is addressing the talent shortage by working with data scientists at local universities.

There’s a wealth of opportunity for PhDs who might unearth something interesting mixing our data sets with other data sets,”

There’s a wealth of opportunity for PhDs who might unearth something interesting mixing our data sets with other data sets,”


he explains.

The department is also sponsoring a hackathon.

It’s about exposing some of our data feeds so others can analyze it in ways we might not be able to internally.”

Further, the study results highlight that successful organizations are those that adopt a big data mind-set.

Business leaders must create a culture that embraces the intelligence big data delivers, agrees Donald A. Marchand, professor of strategy execution and information management at the International Institute for Management Development (IMD).

You have to treat bad news as good news and be willing to act on it,”


he says.

You need the ability to see that the way you thought about things in the past may not be productive in the future.”

And this point of view has to be pervasive—from the C-suite to sales and product development to the front lines.

F. SOCIAL TRANSFORMS CORE BUSINESS PROCESSES

According to the survey, the consulting and business services sector is the most transformed by social media—more than half of that sector’s respondents indicated that they had already experienced a transformational effect from social. Early business successes with social networking are most visible in outbound marketing activities: 51 percent of respondents say that social media has increased their company’s ability to effectively communicate with its customers.

G. THE DIGITAL TRANSFORMATION OF BUSINESS

Industry experts observe that social media is becoming a core aspect of modern digital marketing strategies, and they see potential for it to radically transform the marketing function.

But forward-thinking organizations are not using social networks only to listen to and better understand customer sentiment about products, brands, and companies as a whole.

They are also using social technologies for recruiting and HR management, and for collaboration and communication with employees, partners and suppliers. The survey findings indicate that social technology is positioned to have a broad impact.

Survey respondents who deem social technology to be critical to their infrastructure (22 percent) are significantly more likely than their peers to say they benefit from an increased ability to innovate.
Even businesses that haven’t yet embraced social media anticipate its potential. More than half of all respondents say that social technology will transform their organizations (57 percent) and the way they work (58 percent) in the next few years.
Four years ago, Ask.com, a leading online brand for questions and answers, hired Eric McKirdy to improve the customer support experience and improve the support team’s internal operations.

By deploying a CRM application that integrates mobile social media listening capabilities, the company has transformed both. One key change in how Ask.com’s customer support team works is that they can now manage support tickets, including those generated through social media, entirely by smartphone, without being tethered to a laptop or an office.
Similarly, Auckland Transport is evaluating social tools to listen and respond quickly to citizen comments and even prevent security dangers.

The agency plans to mine that unstructured data, analyze it, and feed it to the operations team to respond to—and someday prevent— transportation problems. Like Ask.com, Auckland Transport eventually plans to create service requests from complaints posted on social networks, feed them into a CRM system, and manage them proactively.

Business leaders note, however, that it isn’t always clear how best to incorporate social media into core business operations.
Social technologies are often not integrated with core operational systems, and the data they generate is unstructured.

As far as enabling line of business transactions and being used beyond boosting marketing and the employment brand,”

says Progressive Insurance’s Voelker,

says Progressive Insurance’s Voelker,

“it’s less mature as a business tool.”

The main concerns survey respondents have about social technology include the time spent by employees using it (cited by 45 percent) and employee information overload (cited by 40 percent).

But leading companies are using social in their core lines of business, turning to social tools that provide a greater level of integration with their mission critical business systems.

For example, McKirdy of Ask.com said the company once used a variety of social media monitoring and communication tools to identify and respond to issues. But now that Ask.com uses one social module in a cloud-based CRM system,

We monitor all major social media channels and can respond with the click of a mouse,”

says McKirdy.
While it is clear that each of the four technology megatrends has had a tremendous impact independently, the study finds that deploying integrated solutions is where the greatest impact is achieved.

The most important trends, the most interesting things, are happening at the intersections of these four different technologies,”

asserts Babson College’s Davenport.

Similarly, Horrom, of the Detroit Lions, says,

There’s less value to the Lions in having big data coming in if we don’t have a method of compute in the cloud or on premises to interact in real time with our fans via a mobile platform.”

The survey found the likelihood that organizations are being transformed to be significantly greater among those that deem multiple technologies to be critical.

Among “multi-adopters”— organizations that view at least three of the megatrends as playing a critical role in operations— more than two-thirds (67 percent) report they have transformed, compared to as few as onethird (34 percent) of single adopters.

Even dual-adopters (using two technologies in critical areas) are better poised to reap the benefits that sit at the nexus of these technology trends.
Most importantly, the innovation and improved agility described in the examples above are not simply a result of spending more on IT.

At this point in cloud, mobile, social media, and analytics development, C-level and senior line of business executives should be assessing the various business capabilities of their organizations and developing a strategy and a road map to improve and differentiate their core capabilities with these digital technologies.

The firms that take advantage of the new capabilities can not only transform themselves but also achieve success in the 21st century.

None of the changes enabled by these technologies comes without accompanying organizational changes—management mind-sets, organizational behavior, operating cultures,”

says Marchand of IMD.

Deep change over time coupled with these technologies is where transformation happens.


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The latest news contemporary developments in Business Strategy

True contrast



Even though there is widespead acceptance, entrepreneurs often ask how to value the sweat equity invested in their startup. A quick and easy response:

It’s worth whatever your investors tell you it’s worth.”

But over the years, come to realize that sweat equity isn’t the same thing as market value for your startup.

“Investors have no idea how to value sweat equity, and I now believe it’s a bad idea to let them tell you how to do it.”

At a minimum, they could use this as a negotiating tool to undervalue your startup.When you’re getting started, sweat equity is often a critical component of your negotiating leverage with co-founders, early stage employees and others who aren’t paid market wages to help you grow your business.As the business owner, you should be the expert on valuing sweat equity, not your investors, accountants or lawyers. Here are some tools for tackling the challenge.When determining the value of the sweat equity provided by an employee or potential co-founder, first assess these three characteristics of the person in question:

  1. Commitment:Is he or she committed to being a founding partner for the long haul?
  2. Unique contribution:Does he or she bring specialized knowledge, skills, leadership ability or experiences that you don’t have?
  3. Hopes and dreams:Are his or her hopes and dreams for personal wealth, business success and autonomy the same as yours? If not, are the differences substantial enough that they’ll pull the company apart?

Then, start thinking about the numbers.
1. Market value doesn’t equal the sum of sweat equity invested by you and your partners.

If you have invested $100,000 worth of your time in writing a business plan, and your partner, a young engineering student, has invested $25,000 worth of her time in building a prototype, it doesn’t mean the market value of your startup is $125,000.

In fact, it could be worth much more. Sweat equity is just one component of early-stage valuation. In a previous column, I discussed how valuing a startup is more driven by market conditions, comparable companies, exit potential, future capital needs and many other factors.
2. Foregone wages for an engineer aren’t the same as foregone wages for a prototype designer.

In the example described above, the $25,000 estimated by your business partner is likely to be based on wages that she could have earned in a full-time job. This is the typical way that a founder determines sweat equity: foregone wages.

However, your partner could just as easily have argued that her sweat equity is worth $250,000 since that’s what a prototype would have cost you to make had you hired a prototype development firm. Or she could argue that the prototype is so critical to the business that she should get 50 percent of the company’s stock.
In my experience, this is the basis for much of the negotiation that CEOs will have with their early-stage employees and co-founder. You need to determine the principle applied for valuing services invested in a nascent business. Foregone wages tends to be the anchor that keeps valuation negotiations from sailing into oblivion.Don’t be tempted to dole out equity to everyone who helps you found the company–even it makes you feel good to have co-founders. (Being an entrepreneur is lonely, but there are better ways to make friends or build a community of credible supporters than by giving early-stage equity to people who make small contributions to your business.)
One simple solution is to “pay” a slight premium for sweat equity to early-stage employees. For example, when valuing the sweat equity invested by your prototype designer, use $30,000 rather than $25,000 as a valuation figure and explain that you’re paying a 20 percent premium because of the risks associated with being paid in equity rather than cash.
3. Employees and founders are motivated by different things.

How should you decide if your prototype designer should be a co-founder who deserves 50 percent of your company or deserves $30,000 in sweat equity for her work as an employee or consultant?

Too often, I see entrepreneurs make this critical decision by trusting the opinion of their investors–or potential investors-rather than determining what their business will actually need. First-time entrepreneurs often think,

“If I approach a VC with a chief technology officer or chief prototype designer in place, then I’m more likely to get funded.”

So they end up getting a co-founder and parting with 50 percent of their company, even if their CTO is really a young prototype designer who will get discouraged or fired a few months later. Using a restricted stock agreement, you can mitigate risk, building in a buy-back right for the partner’s equity grant.Ultimately, it’s up to you. You get to decide what you need to give up to keep or get an invaluable partner on board.


All sorts of organisations use the vocabulary of strategy. Compare these extracts from the statements of communications giants Nokia and Kingston University, a public institution based in London with 200.000 students.

“Nokia’s vision and mission believes in communicating, sharing, and in the awesome potential in connecting the 2 billion who do with 4 bilion who don’t. Connecting is about helping people to feel close to what matters.”

If we focus on people, and use technology to help people, than growth will follow. In a world where everyone can be connected, Nokia takes a human approach to technology.
Nokia’s priority is to be the most proffered partner to operators , retailers and enterprises. A strategy where customers remain our top priority.

In line with this priorities, Nokia ‘s business portfolio strategy focusses on five areas, with each have long-term objectives: create winning devices; embrace customer Internet services; deliver enterprise solutions; build scale in networks, expand professional services.
There are three strategic assets that Nokia will invest in and prioritize:

1. Brand and design

2. Costumer engagement and fulfilment

3. Technology and architecture.

“Kingston University’s mission is to promote participation in higher education, which it regards as a democratic entitlement; to strive for excellence in learning,teaching and research, to realise the creative potential and fire the imagination of all its members.”

The vision is to be comprehensive and to create by present possibilities, with a grander and more aspirational vision of the future.
The University’s goals are to provide all students equal opportunities to:

🔹Realise their learning ambitions;

🔹Create authority in research and professional practice for the benefit of individuals, society and economy

🔹Develop collaborative links with providers and stakeholders within the region, nationally and internationally;

🔹Manage and develop its human, physical and financial resource to achieve the best possible academic value and value for money.

“Strategy is part of every day language of work.”

Strategy vocabulary therefore is used in many different contexts for many different purposes.


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Latest News for Strategy Business Developments

New Business Models

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Ecommerce is an area being watched closely by entrepreneurs and wantrepreneurs alike. New business models are constantly emerging, making this a competitive and constantly evolving field.
The apparel category is particularly exciting: The recently launched Amazon Prime Wardrobe, for instance, allows consumers to have clothing delivered to their door, after which they can try it out for seven days before deciding whether to keep it. They can send items back whenever they decide; they don’t even need to be home to have return packages picked up.
Taking inspiration from Amazon and other businesses, many apparel and accessory ecommerce companies are similarly trying their hand at “something new and different.”
These innovative companies are taking ecommerce to the next level.

Crisp Clothing
The perfect shirt is hard to come by. But what if perfect fit could be achieved with the help of two simple metrics? That’s what Crisp Clothing does. By using your height and weight and what it calls “3D Measuring,” Crisp Clothing can tailor the perfect shirt for you.
Founded by Swapnil and Prakash Kamble — a father-and-son team — Crisp Clothing uses 100 percent Egyptian Giza cotton to fashion its handmade tailored shirts, which are currently available in black, white, blue and pink. The company recently launched a Kickstarter campaign to raise funding for the project.
Not surprisingly, the cost of a single shirt isn’t cheap, but pledging to the Crisp Clothing campaign at the $78 level will get you one custom, hand-crafted shirt.
What’s clearly innovative about Crisp Clothing is the approach it takes to crafting the perfect shirt. Technology is the difference. It gives Crisp Clothing a more scientific way to tailor shirts that look and feel great.

Trunk Club
The Nordstrom-owned Trunk Club may be a familiar name to some. Its business model is a lot like that of Amazon Prime Wardrobe, except Trunk Club has been around a lot longer.
This is its process: First, the customer is prompted to answer a few questions about the style of clothing he (or she) is interested in, how the clothing should fit and what budget range is desired. Then, he can chat with a stylist who’ll offer help on exactly what he’s looking for (though this step is not mandatory).
The trunk is delivered free of charge once the customer approves it, and he or she has five days to decide what clothing to keep and what to send back. Then, the customer can either reorder on his or her own schedule or set up a regular delivery schedule, to keep the wardrobe fresh.
What Trunk Club did right was make it easier for the consumer to get items that are truly desired. Time can be a commodity in today’s busy world, and with the rise of online shopping, consumers don’t necessarily go to malls or stores to shop anymore. Trunk Club is an easy, fast and convenient way for today’s buyer to meet his or her clothing needs.

Bonobos
Bonobos was launched because its founders recognized how difficult it is for consumers to find pants that fit perfectly. To solve this problem, Bonobos developed a signature curved waistband that fits more naturally around your waist. The company offers free shipping as well as painless returns and exchanges.
Bonobos also has something called a Guideshop. Customers can schedule a one-hour appointment at a Guideshop, try on anything in the store and find the perfect clothing with the help of a Guide. Customers don’t have to take any bags home, as the Guide will place the order and have it shipped to the customer’s home or office.
Bonobos is doing a couple of noteworthy things for its customers. First, it came up with a solution where none previously existed, thereby creating more comfortable pants. Second, it created a unique in-store experience that allows customers to find what they’re looking for on their own time — a personalized experience they’re sure to remember.

Wanderlust + Co
Accessorizing is a term near and dear to many women. Jenn Low, founder of Wanderlust + Co, creates custom jewelry and accessories that many models and celebrities don at notable events. Her work is inspired by what she calls the #WCOgirlgang, which includes celebrities, fashion bloggers, editors, stylists and content creators.
What’s innovative about Wunderlust + Co is Low’s willingness to cater to a specific audience. She doesn’t create products consumers dn’t want. She built her own tribe, #WCOgirlgang, and stays in regular contact with them to come up with new product ideas her audience will love.
Entrepreneurs sometimes take the opposite approach, creating a product first and then finding an audience for it. Sometimes that can work, but there are no guarantees. A more reliable approach, especially today, is what Low does: She’s built a brand around a target audience, offering products they want and have even asked for.

Everlane
Complete transparency is hard to find but has become somewhat trendier, thanks to online entrepreneurs like Pat Flynn and John Lee Dumas.
That’s where Everlane stands out. These founders aim to be as up-front as possible about the cost of their goods. They even offer a detailed breakdown on materials, hardware, labor, duties and transport. They also reveal what the true cost of the product is, in addition to what they’re selling it for.
If you’ve ever wondered where your money is going when you purchase a product, you won’t have to, with Everlane. You’ll get total transparency, and that builds trust. Though full transparency may not be the right approach for every business, it’s something to consider: Maybe no one in your industry is embracing it, making it worth considering as a strategy.

Final thoughts
If you’re an ecommerce business owner, what could you be doing to separate yourself from the pack? If you have a different business model, what can you learn from the above and implement in your business?
As ecommerce becomes increasingly competitive, it will be more and more necessary for more business owners to embrace innovation and find their unique approach. The ecommerce landscape will continue to be an interesting one to watch, especially as Amazon continues to launch new and noteworthy services.


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Latest Financial Topics for Strategy & Business Developments

Decisive Entrepreneur

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An overview on one aspect that captures almost all the economic activities include a representation to a change. This clue distinctions of when and where supports all those interested wantings for the future development and innovation, in the activity of the products and the services desired for the necesary market.

You never know where you are going to find a good idea.

That may sound like a saying from a fortune cookie. But for Normal CEO, and founder, Nikki Kaufman, it’s a management style.

It’s also why the headquarters of her 3-D printed custom earphone company are open and transparent across departments. It’s a guiding principle on how to run a team.

I encourage new ideas all the time here at Normal. That’s one of the things that I really like about having everyone in one office.
She included this advices from the floor of her New York City retail location, which also serves as the company’s factory and corporate office along with an incredible pursuatiation for advocating content into the shared markets .
An idea can come from anywhere.”



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Latest News for Strategy Business Developments

 

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Emphasis the human element of strategy to identify the direction and scope which achieve an advantage in a changing environment through its configuration of resources and competences, has the aim to fulfill stakeholders expectations

“The competitive analysis is a statement of the business strategy and how it relates to the competition.”

The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited within the product development cycle.

The first step in a competitor analysis is to identify the current and potential competition. As mentioned in the “Market Strategies” chapter, there are essentially two ways you can identify competitors. The first is to look at the market from the customer’s viewpoint and group all your competitors by the degree to which they contend for the buyer’s dollar.

The second method is to group competitors according to their various competitive strategies so you understand what motivates them. Once you have grouped your competitors, you can start to analyze their strategies and identify the areas where they are most vulnerable. This can be done through an examination of your competitors’ weaknesses and strengths.

A competitor’s strengths and weaknesses are usually based on the presence and absence of key assets and skills needed to compete in the market. To determine just what constitutes a key asset or skill within an industry, David A. Aaker in his book, Developing Business Strategies suggests concentrating your efforts in four areas:

1. The reasons behind successful as well as unsuccessful firms

2. Prime customer motivators

3. Major component costs

4. Industry mobility barriers

According to theory, the performance of a company within a market is directly related to the possession of key assets and skills. Therefore, an analysis of strong performers should reveal the causes behind such a successful track record.

This analysis, in conjunction with an examination of unsuccessful companies and the reasons behind their failure, should provide a good idea of just what key assets and skills are needed to be successful within a given industry and market segment. For instance, in the personal-computer operating-system software market, Microsoft reigns supreme with DOS and Windows. It has been able to establish its dominance in this industry because of superior marketing and research as well strategic partnerships with a large majority of the hardware vendors that produce personal computers.

This has allowed DOS and Windows to become the operating environment, maybe not of choice, but of necessity for the majority of personal computers on the market. Microsoft’s primary competitors, Apple and IBM, both have competing operating systems with a great deal of marketing to accompany them; however, both suffer from weaknesses that Microsoft has been able to exploit. Apple’s operating system for its Macintosh line of computers, while superior in many ways to DOS and Windows, is limited to the Macintosh personal computers; therefore, it doesn’t run many of the popular business applications that are readily available to DOS and Windows.

To an extent, IBM’s OS/2 operating system suffers from the same problem. While it will run on all of the personal computers DOS and Windows can run on and even handle Windows applications, the number of programs produced for OS/2 in its native environment is very small. This is the type of detailed analysis you need in analyzing an industry. Through your competitor analysis you will also have to create a marketing strategy that will generate an asset or skill competitors do not have, which will provide you with a distinct and enduring competitive advantage.

Since competitive advantages are developed from key assets and skills, you should sit down and put together a competitive strength grid.

This is a scale that lists all your major competitors or strategic groups based upon their applicable assets and skills and how your own company fits on this scale., strategic management has three major elements: strategic position, strategic choices for the future and strategic in action.

To put together a competitive strength grid, list all the key assets and skills down the left margin of a piece of paper. Along the top, write down two column headers: “weakness” and “strength.” In each asset or skill category, place all the competitors that have weaknesses in that particular category under the weakness column, and all those that have strengths in that specific category in the strength column. After you’ve finished, you’ll be able to determine just where you stand in relation to the other firms competing in your industry.

Once you’ve established the key assets and skills necessary to succeed in this business and have defined your distinct competitive advantage, you need to communicate them in a strategic form that will attract market share as well as defend it.

Competitive strategies usually fall into these five areas:

1.Product

2.Distribution

3.Pricing

4.Promotion

5.Advertising

Many of the factors leading to the formation of a strategy should already have been highlighted in previous sections, specifically in marketing strategies.

Strategies primarily revolve around establishing the point of entry in the product life cycle and an endurable competitive advantage.

As we’ve already discussed, this involves defining the elements that will set your product or service apart from your competitors or strategic groups. You need to establish this competitive advantage clearly so the reader understands not only how you will accomplish your goals, but why your strategy will work.


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Latest News for Strategy Business Developments

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Internal experts and external brought in sessions, that articulate the organisation vision and added insights to new opportunities.

Is your team fully engaged to give their best, day in and day out?”

In a recent study by TowersWatson, an international HR consulting firm, fewer than 21 percent of employees surveyed described themselves as “highly engaged,” down from 31 percent. 8 percent admitted to being fully disengaged. Having only one-fifth of your employees highly engaged is not the hallmark of a “Winning Business.”

Other studies show that employee engagement derives from three important factors:

  • Alignment of the employee with the goals and vision of the company.
  • Faith of the employee in the competence of management and their commitment to realize the goals and vision.
  • Trust in their direct supervisor that he or she will support his or her people and help them to succeed.

It has often been said that employees rarely quit companies. Instead, employees quit their managers or supervisors by leaving the company. Mark Herbert, a consultant focused on engagement, says:

“Engagement lives and dies on the front line of your business.”

Increasing positive managerial behavior and reducing negative managerial behavior will go a long way towards improving employee engagement. When your talented employees are engaged, they are able to perform spectacularly and build and improve your winning business.

Here are some ways to get managers and supervisors started in focusing on ways to improve engagement (and to be better managers).

1. DON’T get angry

Getting angry is easy. Anyone can do that. But getting angry in the right way in the right amount at the right time, now that is hard.”

Mark Twain

Anger does not belong in your managerial kit bag.

2. DON’T be cold, distant, rude or unfriendly

Especially in difficult times, employees take cues from their immediate supervisors and need to hear from them. As such, your team will judge you by your action, moods, and behaviors, not by your intent.

3. DON’T send messages to your employees so that they never know where you stand

Keep your message simple, focused and prioritized. Too many messages and initiatives just confuse and alienate people.

4. DON’T BS your team

This includes saying things that you don’t believe in. This includes hiding information and just plain lying. By the time each of us is in our early 20′s, we have all developed very well-tuned BS detectors.

5. DON’T act more concerned about your own welfare than anything else

Your success will come through the success of your team. “Self-serving detectors” are also very well-tuned in most employees.

6. DON’T avoid taking responsibility for your actions

You are the boss. As such, you are accountable and the buck stops with you. You are trying to develop accountability throughout your company. So, lead by example.

7. DON’T jump to conclusions without checking your facts first

A few years ago, I watched in horror as a colleague of mine started screaming at an employee of his who had missed an important meeting that morning. After several minutes, the employee responded:

“I apologize and should have contacted you. But, I just got back from the hospital as a relative has been diagnosed with terminal cancer.”

Now here are the dos, which are even more important than the don’ts…

8. DO what you say you are going to do when you are going to do it

There is no better way to communicate the message that you are accountable for your promises and that everyone in your company should be accountable as well.

9. DO be responsive (return phone calls, emails)

As a manager, your team can be considered to be your customer.
You want your sales team to punctually respond back to customer requests, so you should do the same.

10. DO publicly support your people

Your disagreements and disappointment with your employees can be communicated later and in private. Nothing appears so hollow as your attempt to blame your team for failures.

11. DO admit your mistakes …

…and take the blame for failures.

12. DO recognize your team

“You can never underestimate the power of simple recognition for a job well done.”

13. DO ask and listen

“The manager of the future will know how to ask rather than how to tell.”

Peter Drucker

Some of the most dangerous words for a manager to ever say include:

But, you just don’t understand…” “Because I said so…

14. DO smile and laugth


Have some fun. But, be genuine; programmed fun and faked laughter is worse than doing nothing.
When appropriate, laugh at yourself; it will humanize you.


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Latest News for Strategy Business Developments

Digital Years

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To a better understanding on strategic decisions and implications, here are some characteristics that exhibit the following:

Complexity is describing the feature of strategy and is particularly so in organisations with wide geographical horizons, such as multinational firms, or wide ranges of products and services.

For example, Yahoo! faces the complexity both of a fast-moving market environment and poorly organised internal businesses. Uncertainty is inherent in strategy, because nobody can be sure about the future.For Yahoo! the internet environment is one of constant and unforeseeable.

Operational decisions are linked to strategy.

For example, any attempt to coordinate Yahoo!’s business units more closely will have knock-on effects on web page design and links, carer development and advertiser relationships.

This link between overall strategy and operational aspects of the organisation is important for two other reasons.

First if the operational aspects of the organisation are not in line with the strategy, than no matter how well-considered the strategy is, it will not succeed.

Second, it is at the operational level that real strategic advantage can be achieved. Indeed, competence in particular operational activities might determine which strategic developments might make most sense.

“Integration is required for effective strategy.”

Mangers have to cross functional and operational boundaries to deal with strategic problems. Yahoo! for example needs an integrated approach to powerful advertisers such as Sony and Vodafone from across all its businesses.

Relationships and networks outside the organisation are important in strategy, for example with suppliers, distributors and customers. For Yahoo!, advertisers and users are crucial sets of relationships.

“Change is typically a crucial component of strategy.”

Change is often difficult because of the heritage of resources and because of organisational culture.

According to Brad Garlinghouse at least,

“Yahoo barriers to change seem to include a top management that is afraid of taking hard decisions and a lack of clear accountability amongst lower-level management.”


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