Digital Transformation: Transforming Business Models
Digital Transformation: Transforming Business Models A third, and perhaps the most noteworthy aspect of an organization’s digital transformation, is the transformation of it’s business model. The digital world has allowed, and oftentimes necessitates, the complete reformation of the way a business makes money and goes to market. Capgemini Consulting and MIT offer two notable ways this occurs. Digitally-modified Businesses (i.e. sustaining innovations) A digitally modified business is one that adopts technologies or innovations that add to their current product or...
Read MoreAnalysis for Managers: Industry Analysis
Analysis for Managers: Industry Analysis The next important analysis to undertake around your business is an industry analysis. This is where we look at the entire landscape of the economic branch in which your business operates. To do this we’ll use a well-known and effective tool, called the “Porter’s Five Forces,” which helps a manager to understand the current and future profitability outlook of his/her business. Figuratively and literally, each of these “forces” presses/suppresses profit margins within a given industry. So, grab some paper, a...
Read MoreLeadership Series: Storytelling
Leadership Series: Storytelling A key role of any leader is to inspire. A very effective way to inspire is through storytelling. Think of some of the most compelling accounts from history and how they’ve shaped us. The amazing tale of the forefathers and how they claimed the independence of the United States as the pilgrims immigrated across the ocean and began a new life. The great leadership of George Washington, Abraham Lincoln and others and their incredible histories. All of these stories engender in US citizens a spirit of values, self-reliance and independence. Now think of your...
Read MoreLeadership Series: Strategy
Leadership Series: Strategy Today we’re going to discuss a leadership topic of great importance—strategy. We’ll talk about the “What” and“Why” of strategy and how to apply it to your life and business. But first, a quote from legendary Japanese swordsman Miyamoto Musashi: “Perception is strong and sight weak. In strategy it is important to see distant things as if they were close and to take a distanced view of close things.” What is strategy? Michael D. Watkins, Chairman of Genesis Advisers, in his HBR article, Demystifying Strategy: The What, Who, How, and Why, defines...
Read MoreContent Marketing: The Rule of Thirds
Content Marketing: The Rule of Thirds Competition for a customer’s time has never been higher. But at the same time, jumping into the marketing mix has never been easier. But how much do I spend? And where do I spend it? Michael Brenner, owner of NewsCred, a content marketing software company, shares his formula: the “Rule of Thirds.” We’ll break it into three steps. First: Assign a marketing budget The amount is up to you and depends greatly on your industry…but have something! The key is to allocate a certain amount of money each month, quarter or year—depending on your budget...
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