Thursday, November 09, 2017

Cluster of Idea Space

The education of the incremental innovator leads to mastery of the already available paths of scientific knowledge and methods.......William Baumol

With concepts like Big Data, Block Chain and IOT, most businesses are now confronted with the leap from “dumb" products into creating smart, connected products.

Breakthrough inventiveness requires unorthodox approach to education that favors the exercise of the imagination.A world of education spanning geographical barriers resulting in exchange of ideas between students, professors and entrepreneurs.

A mix of in-company training and formal training within a climate of interactive spaces for knowledge creation, dissemination and innovation.

These interactions morphe into clusters:
Businesses have clustered into networks throughout history, but today we refer to business clusters like the technology industry in Silicon Valley, the financial sector in London and automakers in southern Germany.

Business clustering is an organic process involving a self-organized, self-sustaining, and self-reinforcing formation of interconnected businesses

Vibrant cities rely on clusters that can adapt; and cluster adaptability in turn hinges on an “idea space”
An idea space for a handful of skilled individuals, local entrepreneurs recycled with academic excellence.

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Saturday, October 07, 2017

Growth in a Digital Landmine

Error moves with quick feet and truth must never be lagging behind........ Anonymous

Digital transformation is not just about technology. The approach a company adopts to communicates with its employees, organizes them, and reskills them will play a fundamental role in its ability to take advantage of the new consumer landscape.

Plug-and-play e-commerce technology, search engine optimization, big data, block chain and other distribution solutions are making it far easier for products to directly reach consumers.

Some compaanies like:
Coca-Cola recently reshuffled its leadership team to focus on growth, innovation, and digital by enabling them to build digital road maps for their regions and businesses
Unilever just acquired Dollar Shave Club (for digital subcription sales)

L’OrĂ©al invested in Founders Factory (for digital startup accelerator)

Kassir Hussain of Connected Home observed that “In a space that can often be confusing and frustrating to consumers, our focus on regular user interviews, meetings,tests, and demos allowed us to build a product that was simple, easy to use, and addressed real consumer needs.”

We must continuously invest in periodic upskilling initiatives in a range of learning experiences to grow in the digital age.

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Wednesday, September 06, 2017

Invest in People

A young man is a theory; an old man is a fact......... Edgar Watson Howe

It’s not money that’s in short supply; it’s good growth ideas.
Who has these inspirational ideas that we translates into productivity-driving innovations?

People do.
Reinvesting in people could unlock new levels of labor productivity for cities and companies around the world

An inspired employee is twice as productive as a satisfied one
The average, manager has less than seven hours per week of uninterrupted time for deep reflection.
They spend the rest of their time attending meetings, sending e-communications that lead to employee burnout

Companies should seek to systematically eradicate organizational drag — all the internal complexity that leadsto inefficient and ineffective interactions. Leaving managers more time for deep thinking that unlocks innovation with significant impact on productivity.

For instance Toyota Production System use Kaizen events to improve productivity on the manufacturing line.
They pull workers off the line while giving them time and space to make processes
leaner and to devise innovative work methods

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Monday, August 07, 2017

The Ultimate Sale

The shrewd guess, the fertile hypothesis, the courageous leap to a tentative conclusion
– these are the most valuable coin of the thinker at work...... Jerome S. Bruner

Buyers amass information that helps them justify their strategic decisions, with a soft close you can win the ultamate sale.
A soft close can based on a suggestion that leads a buyer into believing they are acting of their own free will, when in fact they have been directed to follow an action.

A soft close technique like “If you spend another $Y, you will receive an additional X% off the entire order” can give you the winning sale.

Why Sales Win
The strategic values for buyers include :
1) Increasing revenues
2) Decreasing costs
3) Gaining a competitive advantage
4) Standardizing operations in order to reduce risk

Why Sales Fail
1) You can’t clearly explain how your solution helps the buyer’s business
2) You are too self-centered
3) You don’t alleviate the risk of buying your solution
4) You can’t establish a personal connection with the buyer

Make the Ultimate Sales

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Saturday, July 01, 2017

The Green of Business Health

We are collectively suffering from “nature-deficit disorder,” which hurts us mentally, physically, and even spiritually......Richard Louv

Research suggests that investing in landscaping our domain with plants will pay off through an increase quality of life and productivity

Corporations can significantly reduce organizational health costs by introducing more green spaces and plants into an office space. Adding a little wilderness to your environment may just be the smartest move you can do this year.

Corporations like Google prioritize biophilia as a core design principle with these interventions you can reduce everyday stress and also boost general health

Taking walks in nature lowers anxiety and depression while boosting total well-being
Even a very small exposure to nature – as little as five minutes – can produce dramatic benefits, especially when coupled with exercise like walking or running

Ways to go Greener:
Encourage walking meetings outside.
Encourage naturally lit areas for breaks and lunch.
Create an indoor garden or a vertical “green wall.”
Move your creative space closer to a park or natural environment.
Display nature photography or artwork.
Play nature videos on your display screens

Go green, improve your creativity, health and reduce your ecological footprint..

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Friday, June 02, 2017

Business Growth and Transformation

Our energy is in proportion to the resistance it meets.......... William Hazlitt

Business transformation requires repositioning the core business while actively investing in the new growth business.

Transformation is not just about changing an enterprise’s cost structure or turning analog processes into digital ones. Rather, it’s about pursuing a multiphase strategy to reposition today’s business while finding new ways to grow

An organization that grew up producing newspapers, for instance, may not only lacks key skills to build a digital content company but may also actively resist embracing the digital model in order to protect the business it knows.

When Netflix announced plans in 2011 to create a stand-alone mail-based DVD company called Qwikster. This prompted a backlash from angry customers and employees — which triggered a humbling apology from Hastings the CEO.

He reformulated his plan, this time to extend the life of the core DVD business while aggressively rolling out the new streaming service in parallel.

It proved to be a winning strategy that funded the business growth into digital content.
Now, with membership of 100 million homes in 190 countries, Netflix is the leader in the movie and television landscape.

By imposing economic discipline, ruthlessly prioritizing, segmentation, retention, and monetization, business transformation assures investors of continous profitability.

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Tuesday, May 02, 2017

Reflective Urgency

Sometimes you have to look reality in the eye and deny it..... Garrison Keilor

Reflective Urgency — the ability to bring conscious, rapid reflection to the
priorities of the moment and to align your best thinking with the swiftest course of action

A Classic Scenerio:
Sarah was a new manager struggling to adjust to the pressures of delivering on her work, while keeping the team accountable for theirs.
Trying to get it all done without any drop in performance, her urgency trap was a shift
to extreme command-and-control.
In her words, “Everything felt like an urgent crisis, so I acted like it was.”
This mindset triggered reactions that consumed her in delegated work while communicating harshly to her bottom-line in every email, one-on-one conversation, and team discussion.
The result was that her team felt micromanaged and less engaged in their contributions.
She failed to deepen relationships and establish trust within the team.

Diagnose your Urgency Trap:
You need to identify what’s limiting your quality thinking time — when you feel the pressure of too many demands.

Common Urgency Traps:
Ending one meeting prematurely, only to rush to the next one with more unfinished business;
Multitasking work that requires your complete presence and attention, which only diminishes accuracy and output quality;
Saying yes to projects that dilute your contribution and burn your energy, when a No is the wiser choice.
The pressure of impossible deadlines

Here is a Task for you:
"How much growth do you need to avoid becoming a marginal player in your industry as your market grows?"
"How do you optimize your acquisition spending for maximum value rather than minimum cost?”

If you’re too quick to react, you can end up with short-sighted decisions, neglecting underlying causes while creating collateral damage.
If you’re too slow to respond, you can potentially miss an opportunity while allowing the challenge to consume you.-----Jesse Sostrin, PwC’s Leadership Coaching Center of Excellence.

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