core - Blog - Global Risk Community2024-03-28T17:16:45Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/coreWhy Core Java is making a wave in the Industryhttps://globalriskcommunity.com/profiles/blogs/why-core-java-is-making-a-wave-in-the-industry2020-08-28T07:37:02.000Z2020-08-28T07:37:02.000ZBhupendra Prasadhttps://globalriskcommunity.com/members/BhupendraPrasad<div><p>In late 1995, the Java programming language explodes onto the Internet world. The guarantee of Java innovation was that it would turn into the universal glue that links users with data no matter where it originates from - web workers, databases, data suppliers, or some other comprehensible source. Without a doubt, Java is in a promising situation to fulfill this guarantee.</p><p>It is a very emphatically designed language that has picked up adoption by every single significant vendor, with the exception of Microsoft. Its inherent security and safety attributes are optimistic both to developers and to the users of Java programs. Java even has built-in support for advanced programming tasks, for example, network programming, database connectivity, and multithreading.</p><p></p><p><a href="https://www.skillxs.com/backend/web/blog/java-language1598248198.png" target="_blank"><img src="https://www.skillxs.com/backend/web/blog/java-language1598248198.png?profile=RESIZE_710x" class="align-full" alt="java-language1598248198.png?profile=RESIZE_710x" /></a></p><h2>What is Java Programming?</h2><p>Java programming can majorly be defined as language that is used for computer programming which has concurrent nature. It is majorly class-based and object-oriented.</p><p>The aim behind the development of java languages is to reduce the execution dependencies.</p><p>Java programming languages is based on the principle of WORA (write once, run anywhere). It basically means that once the code is compiled, it can be implemented or run on every platform that is java supported without the need for rewriting.</p><p>Register to participate in our <a href="https://forms.gle/xivVNN2Pdnci3HMY7">free online live Core Java webinars</a> from top faculty, and career experts in their field to share knowledge from their courses and programs.</p><h2>Goals and Accomplishments of Java Language</h2><h3>1. Simple</h3><p>The programming world needed to manufacture a framework that could be modified effectively without a great deal of hard training and which utilized the present standard practice. So despite the fact that the world found that C++ was inadmissible, Java was planned as closely to C++ as possible so as to make the framework more thorough. Java discards numerous rarely utilized, ineffectively comprehended, befuddling features of C++ that, in the experience, bring more anguish than an advantage.</p><p>Another part of being simple is to be small. One of the objectives of Java is to empower the development of programming that can run independently in small machines. The size of the fundamental interpreter and class support is about 40K; the essential standard libraries and thread support (basically an independent microkernel) include another 175K.</p><p>This was an incredible accomplishment at that point. Obviously, the library has since developed to enormous extents. There is currently a separate Java Micro Edition with a smaller library, appropriate for embedded devices.</p><h3>2. Object-Oriented</h3><p>Simply expressed, the object-oriented structure is a procedure for programming that centers around the data (= objects) and on the interfaces to that object. To make a relationship with carpentry, an "object-oriented" carpenter would be most worried about the thing he was building, and optionally with the instruments used to make it; a "non-object-oriented" carpenter would think principally of his instruments. The object-oriented features of Java are basically those of C++.</p><p>Object Orientation has demonstrated its value over the past forty years, and it is incomprehensible that a new era programming language would not utilize it. For sure, the object-oriented features of Java are practically identical to those of C++. The major distinction between Java and C++ lies in multiple legacies, which Java has supplanted with the simpler idea of interfaces, and in the Java metaclass model.</p><h3>3. Network-Savvy</h3><p>Java has a broad library of routines for adapting to TCP/IP protocols like HTTP and FTP. Java applications can open and access objects over the Net by means of URLs with the equivalent ease while getting to a local file framework.</p><p>It is seen the network capacities of Java are both solid and simple to utilize. Any person who has attempted to do Internet programming utilizing another language will delight in how basic Java makes numerous difficult tasks, for example, opening a socket connection.</p><h3>4. Robust</h3><p>Java is proposed for composing programs that must be reliable in numerous ways. Java puts a part of an emphasis on early checking for potential issues, later dynamic (runtime) checking, and eliminating circumstances that are error-prone. The single greatest difference between Java and C/C++ is that Java has a pointer model that dispenses with the chance of overwriting memory and corrupting data.</p><p>This component is very helpful. The Java compiler detects numerous issues that, in other languages, would appear just at runtime. With respect to the second point, any person who has gone through hours pursuing memory corruption by a pointer bug will be extremely content with this component of Java.</p><h3>5. Architecture-Neutral</h3><p>The compiler produces an architecture-neutral object file format—the compiled code is executable on numerous processors, given the presence of the Java runtime framework. The Java compiler does this by creating bytecode directions which have nothing to do with specific computer architecture. Rather, they are intended to be both simple to decipher on any machine and effectively converted into local machine code on the fly.</p><p>Java's virtual machine has numerous benefits. It expands security since it can check the conduct of the instruction sequence. A few programs even produce bytecodes on the fly, powerfully upgrading the capacities of a running program.</p><h3>6. High Performance</h3><p>While the performance of deciphered bytecodes is typically more than adequate, there are circumstances where better performance is required. The bytecodes can be interpreted on the fly (at runtime) into machine code for the specific CPU the application is running on.</p><p>In the initial years of Java, numerous users couldn't help contradicting with the explanation that the performance was "more than sufficient." Today, however, the just-in-time compilers have become so great that they are competitive with traditional compilers and, at times, even beat them since they have more data accessible. For instance, a just-in-time compiler can screen which code is executed regularly and maximize only that code for speed. A more refined optimization is the elimination (or "inlining") of function calls. The just-in-time compiler realizes which classes have been loaded. It can utilize inlining when, in view of the presently loaded collection of classes, a specific function is never overridden, and it can fix that improvement later if necessary.</p><h2>Trends and Opportunities in Future</h2><p>The primary arrival of Java created an unimaginable measure of excitement, not simply in the computer press, but also in the mainstream press, for example, The New York Times, The Washington Post, and Business Week. Java has the qualification of being the sole programming language that had a ten-minute story on National Public Radio. A $100,000,000 investment fund was set up exclusively for items utilizing particular coding languages.</p><p><strong>A/c to job portal websites, the starting pay of java developer begins at 4.5 lacs per annum. However, there is a handsome package of around 10 lacs per annum once you get 3-4 years of experience.</strong></p><p>The Global Java Programming Training market was esteemed at USD 62.5 million of every 2020, and it is relied upon to arrive at an estimation of <strong>USD 78.3 million by 2025</strong>, at a CAGR of 4.61% over the conjecture time frame 2021-2026.</p><p>Owing to numerous benefits, the java programming language is going to prosper in the coming years. If you are wondering how to learn core java easily or step by step, then SkillXS IT Solutions provides comprehensive courses on the java.</p><p><strong>SkillXS IT Solutions</strong> will clear your core java concepts by inculcating java skills with their exclusive courses. In this modern era, where everything is rapidly changing, the need for java programmers will going to increase in the next few years.</p><p>It is not by chance that java programming language has been the leader but in fact, java enables us to do everything in the world of computing. With java, you can develop desktop applications using Swing API or JavaFX.</p><p>If you are an aspirant of Java programming languages, then you must try SkillXS IT Solutions online courses.</p><p><strong>Book your seat:</strong> <a href="https://www.skillxs.com/course/208/core-java">https://www.skillxs.com/course/208/core-java</a></p><p>Android’s domination over the world of mobile enables java to be the perfect language for developing mobile applications.</p><p>So, what are you waiting for? Travel your journey from a beginner to an expert level java programmer with SkillXS IT Solutions that is renowned for these courses.</p><p>There are many java tutorials available online, but not many provide a genuine learning framework. However, SkillXS IT Solutions is in the field for many years. Moreover, their java experts will make you job-ready in a very short span of time.</p><h2>Summing Up</h2><p>In brief, it is possible to do everything right with Java. However, this is not always an ideal solution, but a Java developer has numerous possibilities. As you learn the java, you realize that all your efforts are really worth it.</p><p>The fact that java is so popular makes it an excellent career option. Once you master this language, you will be able to apply for many java developers in the companies. Therefore, it is not wrong to say that time investment in learning Java is a surety that you will benefit from it in terms of career growth and perks.</p></div>The 6 Pillars of Supply Chain Management (SCM) Thinking: A New and Revolutionary Way of Looking at Supply Chain Managementhttps://globalriskcommunity.com/profiles/blogs/the-6-pillars-of-supply-chain-management-scm-thinking-a-new-and-12020-08-03T09:00:00.000Z2020-08-03T09:00:00.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><p></p><p>Supply chain thinking used to be limited to the managers of a few global companies—companies that were struggling to coordinate <a href="https://flevy.com/blog/wp-content/uploads/2020/05/pic-1-6-Core-Pillars-of-Supply-Chain-Management-300x200.jpeg" target="_blank"><img src="https://flevy.com/blog/wp-content/uploads/2020/05/pic-1-6-Core-Pillars-of-Supply-Chain-Management-300x200.jpeg?profile=RESIZE_710x" width="300" class="align-right" alt="pic-1-6-Core-Pillars-of-Supply-Chain-Management-300x200.jpeg?profile=RESIZE_710x" /></a>internal information and materials. This, however, led to an exciting boom in cross-business coordination based on <a href="https://flevy.com/browse/stream/supply-chain">Supply Chain Management</a> concepts.</p><p>Today, the field has broadened and shifted over time. Current supply chain trends—differentiation, outsourcing, compression, and collaboration—are being used to restructure supply networks and improve coordination. As more companies integrate their networks, capabilities are improving. The levels of product customization and business complexity are also increasing. As this continues, Supply Chain Management is being used in new ways to create uniquely defined customer relationships anchored on appropriate <a href="https://flevy.com/browse/stream/customer-centric-design">Customer-centric Design</a>.</p><p>The field of Supply Chain Management will continue to influence companies. The best way to understand the impact of a long-term trend is to examine how the trend has changed the way executives view their businesses and what issues they choose to focus on.</p><h3><strong>Rationale Behind Supply Chain Management</strong></h3><p>Supply Chain Management is the design, planning, execution, control, and monitoring of supply chain activities. It is the management of the flow of goods and services. Essentially, Supply Chain Management addresses the fundamental business problems of supplying products to meet demand in a complex and uncertain world.</p><p>Conceptually, Supply Chain Management draws on the value chain concept of business strategist, Michael E. Porter. It conveys the idea of looking at the supply chain issue at the multi-company level.</p><p>As the global business environment becomes more complex and competitive, there have been shorter product life cycles and greater product variety. Due to this, it has increased supply chain costs and complexity. The birth and growth of outsourcing, globalization, and business fragmentation has resulted in a crucial need for supply chain integration. Coupled with advances in information technology, this has led to the creation of greater opportunity for Supply Chain Management.</p><p>Why is Supply Chain Management essential at this time? There is now an increasing need to create net value, build a competitive infrastructure, leverage worldwide logistics, synchronizing supply with demand, and measure performance globally. Only Supply Chain Management has a systematic process to satisfy these increasing demands.</p><p>With the increasing application of Supply Chain Management, there have been shifts in the view of management and influencing <a href="https://flevy.com/browse/stream/strategy-development">Strategy Developmen</a>t.</p><h3><strong>The 6 Core Pillars of Supply Chain Management Thinking</strong></h3><p>The <a href="https://flevy.com/browse/flevypro/6-pillars-of-supply-chain-management-scm-thinking-4378">6 Core Pillars of Supply Chain Management Thinking</a> are the major shifts that have redefined management’s view which is far different from traditional Supply Chain thinking.</p><p><a href="https://flevy.com/browse/flevypro/6-pillars-of-supply-chain-management-scm-thinking-4378" target="_blank"><img src="https://flevy.com/blog/wp-content/uploads/2020/05/pic-2-6-Pillars-of-Supply-Chain-Management-1024x768.png?profile=RESIZE_710x" width="750" class="align-full" alt="pic-2-6-Pillars-of-Supply-Chain-Management-1024x768.png?profile=RESIZE_710x" /></a></p><p>The first Core Pillar is <strong>Multi-company Collaboration</strong>. This is the shift from cross-functional integration to multi-company collaboration. Traditionally, Supply Chain thinking was focused on integrating within their companies. But with the new <a href="https://flevy.com/business-toolkit/supply-chain-management">Supply Chain Management</a> perspective, the focus now is on integrating across companies to coordinate and improve supply.</p><p>With the shift in thinking, what is asked now is how do we coordinate activities across companies, as well as across internal functions, to supply products to the markets. This is a great deviation from the traditional thinking which ask how do we get the various functional areas of the company to work together to supply product to our immediate customers.</p><p>With the first Core Pillar, we get to achieve significant breakthroughs. There are lower supply chain-related costs and improved responsiveness within a chain of companies.</p><p>The very essence of Multi-company Collaboration is rethinking how organizations align goals and make decisions.</p><p>The other Core Pillars are Market Mediation, Demand Focus, Product Design Influence, <a href="https://flevy.com/business-toolkit/business-model-innovation">Business Model Innovation</a>, and Customized Offerings. Each core pillar is considered an enabler that has a vast impact on Supply Chains.</p><p>Interested in gaining more understanding of the <a href="https://flevy.com/browse/flevypro/6-pillars-of-supply-chain-management-scm-thinking-4378">6 pillars of Supply Chain Management (SCM) thinking</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/6-pillars-of-supply-chain-management-scm-thinking-4378">editable PowerPoint about the <strong>6 Pillars of Supply Chain Management (SCM) Thinking</strong> here</a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>How to Maximize Deal Value in Post-merger Integration (PMI): The PMI Processhttps://globalriskcommunity.com/profiles/blogs/how-to-maximize-deal-value-in-post-merger-integration-pmi-the-pmi2020-07-04T06:19:02.000Z2020-07-04T06:19:02.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><p></p><p><a href="https://flevy.com/browse/stream/post-merger-integration">Post-merger Integration (PMI)</a> can be complex, time-pressured, and unfamiliar for most organizations. It is a highly <a href="{{#staticFileLink}}8028327472,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028327472,original{{/staticFileLink}}" width="200" class="align-right" alt="8028327472?profile=original" /></a>complex process. It requires swift action as well as running the core business activities simultaneously. There is no one-size-fits-all approach to a successful <a href="https://flevy.com/browse/flevypro/post-merger-integration-pmi-pmi-process-4062">PMI Process</a>. However, careful planning focusing on the strategic objectives of the deal and the identification and capturing of synergies will help maximize deal value.</p><p>It is inevitable that some elements of information will be withheld from a Buyer pre-deal. Further, not all the synergy benefits originally identified in the deal will prove to be achievable. The foremost challenge for management at the onset of the PMI process is to identify how value can be captured from the newly combined organization via synergies and cost savings.</p><p>Hence, undertaking the PMI Process requires a clear roadmap that will take the post-merger integration journey toward a more strategic and effective direction. This is where <a href="https://flevy.com/browse/stream/strategy-development">Strategy Development</a> comes in.</p><h3><strong>The 5 Core Components of the PMI Process</strong></h3><p>Organizations must have a good understanding of the integration process to ensure that target results are achieved and that expectations are met. There are <a href="https://flevy.com/browse/flevypro/post-merger-integration-pmi-pmi-process-4062">5 core components of the PMI Process</a> organizations must follow to make the process more successful where the deal value is achieved and realized.</p><p><a href="https://flevy.com/browse/flevypro/post-merger-integration-pmi-pmi-process-4062" target="_blank"><img src="https://flevy.com/blog/wp-content/uploads/2020/03/pic-2-PMI-process.png?profile=RESIZE_710x" width="750" class="align-full" alt="pic-2-PMI-process.png?profile=RESIZE_710x" /></a></p><ol><li><strong>PMI Structure</strong>. This is the first component of the PMI Process that establishes the stages of the integration process. It consists of sub-projects that take place before and after the closing or change of ownership.</li></ol><ol start="2"><li><strong>Management Alignment</strong>. The second core component, Management Alignment is focused on aligning top managers of both Buyer and Target. For the first time, top managers of the Buyer and Target become part of the same organization. It is at this stage wherein there is a change of priorities and commitment of top managers. The new management team must be aligned and committed to the same goal. This way, they convey the same message to the new organization.</li></ol><ol start="3"><li><strong>First 100 Days</strong>. The First 100 Days is where the PMI Process starts focusing on making changes. The First 100 Days is the maximum period people can live with the uncertainty regarding the new organizational structure and decision on redundancy. This core component is highly critical as this paves the way towards a smooth transition to a new organization.</li></ol><ol start="4"><li><strong>PMI Project Management</strong>. The fourth component is focused on budget planning and management. It is at this stage wherein the preparation of the first estimates of integration costs during the transaction or purchase phase is undertaken.</li></ol><ol start="5"><li><strong>Kick-off Meeting</strong>. The fifth or final core component is the Kick-off Meeting. Starting teamwork is its main focus. Participants are brought up to speed on events in both predecessor entities and the joint strategy. This is the avenue to provide instructions, guidelines, and templates. A Kick-off Meeting is typically a 2-day session including the time to socialize.</li></ol><h3><strong>The Red Flag Warning in Post-merger Integration</strong></h3><p>When going through Post-merger Integration, we can expect some red flag warnings. These are disturbances that may warrant such a red flag warning. As organizations go through the deal, there will be critical issues on personnel and customers that will arise.</p><p>One critical issue that may raise the concern of the Integration team is the possibility of losing your key personnel. Losing your key personnel can cause a dent in any organization. At this point wherein integration is happening, the more the support of the key personnel is of utmost importance. Losing them would be a great loss.</p><p>Aside from red flag warnings, there will also be key considerations organizations must take note of during integration. Being aware of these will prepare them as they move on forwards to achieving a successful deal.</p><p>Interested in gaining more understanding of the <a href="https://flevy.com/browse/flevypro/post-merger-integration-pmi-pmi-process-4062">PMI Process</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/post-merger-integration-pmi-pmi-process-4062">editable PowerPoint about <strong>Post-merger Integration (PMI): PMI Process</strong> here</a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="https://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="https://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="https://flevy.com/pro/library">FlevyPro library</a>.</p></div>Leadership Presence: The Face of Today’s Leadershiphttps://globalriskcommunity.com/profiles/blogs/leadership-presence-the-face-of-today-s-leadership2020-03-30T06:00:00.000Z2020-03-30T06:00:00.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><blockquote><p>“Leadership is not about titles, positions, or flowcharts. It is about one life influencing another.” - John C. Maxwell<a href="http://flevy.com/blog/wp-content/uploads/2020/02/pic-1-leadership-presence-214x300.jpeg" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2020/02/pic-1-leadership-presence-214x300.jpeg?profile=RESIZE_710x" width="214" class="align-right" alt="pic-1-leadership-presence-214x300.jpeg?profile=RESIZE_710x" /></a></p></blockquote><p>Many people in a position of authority struggle with their <a href="https://flevy.com/browse/flevypro/leadership-presence-4035">Leadership Presence</a>. They have adopted the kind of persona that they assume a leader is supposed to have: a TED Talk cadence, authoritative body language, studied informality, and a package of carefully curated slides. Yet, in adopting this stance it showed that you are not authentic and people will assume your message is not either.</p><p>The biggest challenge of leaders and aspiring leaders is to inspire and motivate people to take the right action on behalf of themselves and the group. This is the challenge of <a href="https://flevy.com/browse/stream/leadership">Leadership Development</a> today. Leadership Presence has become the face of today's leadership. An authentic leader does not mean just “winging it” or saying whatever you feel. Being an authentic leader now requires an ability to transform impulse into insights, articulate these insights to fulfill a purpose, and to build the needed relationship. Authentic leadership must be able to build trust. And an authentic leader must have Leadership Presence.</p><h3>What is Leadership Presence?</h3><p>Leadership Presence is the ability to communicate what needs to be said in a way that inspires people to join their leaders.</p><p>Leaders or aspiring leaders at any level must inspire and motivate people so that they can take the right action on behalf of themselves and their group. Hence, it is important that a leader must have a strong presence and not just at conferences but in every interaction. As a leader, every aspect of your presence – your physical self, your intellect, your voice, and your emotions – is intimately bound up with your message.</p><h3>Sharpening our Core: The 10 Core Principles of Leadership Presence</h3><p>To have Leadership Presence, a leader needs to inculcate within themselves the <a href="https://flevy.com/browse/flevypro/leadership-presence-4035">10 Core Principles of Leadership Presence</a>. These are the principles that will enable the authentic leader to raise the bar of excellence when it comes to inspiring and motivating people to reach their greatest potential.</p><p><a href="https://flevy.com/browse/flevypro/leadership-presence-4035" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2020/02/pic-2-Leadership-Presence.png?profile=RESIZE_710x" width="750" class="align-full" alt="pic-2-Leadership-Presence.png?profile=RESIZE_710x" /></a></p><p>There are 10 Core Principles. Let us take a look at 2 of the 10 Core Principles.</p><ol><li><strong>Communicate in a holistic manner.</strong> Principle 1 is focused on forming a single impression of the leader and their message. To communicate in a holistic manner, one needs to think of the intellect, emotions, and body as one. Often, people evaluate integrity and veracity together with the person’s posture, tone of voice, and mood. Never has it happened that people gauge a person only on one specific aspect; often, it is the entirety of the whole being. This is why there is a need to emphasize the importance of communicating in a holistic manner. When a leader communicates in a holistic manner, this will increase the recognition of emotions, reasoning, and actions. It will also lead to more honesty and authenticity. You can just imagine the impact it will have on your people.</li></ol><ol start="2"><li><strong>Focus on what matters most.</strong> The second principle is focusing on what matters most. It is speaking only what is important. Focusing on what is important means focusing on what needs to be accomplished and what the listeners care about. When leaders start focusing on what matters most, there will be a clearer conviction, willingness to invest time and resources, and greater aspiration for others.</li></ol><h3>Achieving Leadership Presence: Putting the Principles into Action</h3><p>Achieving Leadership Presence takes a conscious effort to change and take command of what is important. Leadership Presence is achieved once we start putting the 10 Core Principles into action. Principle 1 requires recognizing connections among our emotions, reasoning, and actions. We need to work out these elements to be able to improve the overall impact. Getting a coach to help us go through the process will help a lot.</p><p>Adapting Principle 2 requires figuring out what we care about and why. We need to think about its connection to our purpose and our listeners. And once we do this, we need to commit to it wholeheartedly.</p><p>Once we learn Principles 3 to 10, this will further sharpen our <a href="https://flevy.com/browse/flevypro/leadership-presence-4035">leadership capability</a> and build within us the ability to establish a unique sense of Leadership that is unique, authentic, and inspiring.</p><p>Interested in gaining more understanding of <a href="https://flevy.com/browse/flevypro/leadership-presence-4035">Leadership Presence</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/leadership-presence-4035">editable PowerPoint about <strong>Leadership Presence</strong> here</a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>When Physical Office Becomes Passe, Are We Ready for Virtual Teams?https://globalriskcommunity.com/profiles/blogs/hen-physical-office-becomes-passe-are-we-ready-for-virtual-teams2020-03-18T06:30:00.000Z2020-03-18T06:30:00.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><blockquote><p>Richard Branson, British business and philanthropist once said: “One day, offices will be a thing of the past.”<a href="http://flevy.com/blog/wp-content/uploads/2020/01/pic-1-Virtual-Teams-Challenges-Benefits-200x300.jpeg" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2020/01/pic-1-Virtual-Teams-Challenges-Benefits-200x300.jpeg?profile=RESIZE_710x" width="200" class="align-right" alt="pic-1-Virtual-Teams-Challenges-Benefits-200x300.jpeg?profile=RESIZE_710x" /></a></p></blockquote><p>While organizations still need to travel to reach their physical offices, the rapid changes in the world are requiring businesses to form <a href="https://flevy.com/browse/flevypro/virtual-teams-challenges-and-benefits-4013">Virtual Teams</a>. A Virtual Team refers to a group of individuals who work together from different geographic locations and rely on communication technology such as email, voice conferencing services, fax, etc.</p><p>Virtual Teams work well for an organization and is effective even from a communication perspective. In fact, it is known to complement well the <a href="https://flevy.com/lean-management">Lean Management</a> approach used by organizations. Studies from previous years have shown that well-managed, widely spread, Virtual Teams have been outperforming those that share office space. In fact, it has shown that using Virtual Teams can improve employee productivity by 45%.</p><p>In today’s highly competitive global economy, to be able to work smarter, organizations must be able to leverage the manifold benefits of a remote workforce. Likewise, organizations must also be able to manage challenges that come with working with Virtual Teams.</p><h3>The <a href="https://flevy.com/browse/flevypro/virtual-teams-challenges-and-benefits-4013">4 Core Challenges of Going Virtual</a></h3><p>More organizations are opting to work with virtual teams. Virtual teams may have their benefits but it also has its challenges. Being able to manage these challenges will enable organizations to seize the benefits of remote workers.</p><p><a href="https://flevy.com/browse/flevypro/virtual-teams-challenges-and-benefits-4013" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2020/01/pic-2-Virtual-Teams-Challenges-and-Benefits.png?profile=RESIZE_710x" width="750" class="align-full" alt="pic-2-Virtual-Teams-Challenges-and-Benefits.png?profile=RESIZE_710x" /></a><br /> There are 4 core challenges that organizations face when working with Virtual Teams. Let us take a look at the 2 core challenges.</p><ol><li><strong>Virtual Communication</strong>. Having different time zones can be a challenge. This can lead to layers of complexity to the logistics of everyday communication. When time zones do not match, it can lead to less and less information being transmitted and can cause miscommunication. When working in a different time zone, there is a tendency to exchange information using email or instant messaging. But these may not be enough as it cannot convey as much meaning compared to vocal tone, facial expression, and physical gestures.</li></ol><ol start="2"><li><strong>Virtual Project Management</strong>. When working with virtual teams, the business must have a proper system and people in place. Virtual <a href="https://flevy.com/business-toolkit/project-management-pm">Project Management</a> may cause some confusion and even delays. While digital tools are in place to facilitate remote project management and collaboration, it can be difficult at times to tell what each person is contributing. In fact, organizations need to put up a system to track whether the members of the virtual team are doing their required tasks.</li></ol><p>In this digital era, Virtual Teams are becoming the new face of business operation and aligning itself with <a href="https://flevy.com/digital-transformation">Digital Transformation</a>. This is a global reality that businesses must accept. However, working with Virtual Teams brings a lot of challenges not only in Project Management and <a href="https://flevy.com/browse/flevypro/virtual-teams-challenges-and-benefits-4013">Virtual Communication</a> but also in Talent Development and Technology Support. Talent Development and Technology Support are two other core challenges that can make an impact on the Virtual Team. How it is managed will define the success of your Virtual Team.</p><p>In hindsight, Virtual Teams can also bring so many benefits. Hence, it is not surprising that despite the challenges, a lot of businesses still prefer to work with Virtual Teams.</p><p>One core benefit is increased access to top talent. The world has become a global market for expertise and talents. Businesses can extend their reach to other countries in their search for needed expertise. In fact, working with virtual teams will open opportunities for businesses to work with experts in various fields with various experiences. Being able to employ the best and the brightest is more than enough for businesses to continue working with Virtual Teams and conquering challenges. Businesses just need to have appropriate support programs to give Virtual Teams a home-field advantage.</p><p>Interested in gaining more understanding of <a href="https://flevy.com/browse/flevypro/virtual-teams-challenges-and-benefits-4013">the challenges & benefits of Virtual Teams</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/virtual-teams-challenges-and-benefits-4013">editable PowerPoint about <strong>Virtual Teams: Challenges & Benefits</strong> here</a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>Professionalizing the Family Business: Getting Readyhttps://globalriskcommunity.com/profiles/blogs/professionalizing-the-family-business-getting-ready2019-12-22T06:00:00.000Z2019-12-22T06:00:00.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><p>Every firm will eventually reach the point when it has to professionalize the way it operates. This is done by instituting more rigorous <a href="http://flevy.com/blog/wp-content/uploads/2019/04/pic-1-Professionalizing-the-FAmily-Business-300x217.jpg" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2019/04/pic-1-Professionalizing-the-FAmily-Business-300x217.jpg?profile=RESIZE_710x" width="300" class="align-right" alt="pic-1-Professionalizing-the-FAmily-Business-300x217.jpg?profile=RESIZE_710x" /></a>processes, establishing clear governance, and recruiting skills from outside. Family Business is no different.</p><p>In the Family Business Survey, 43% of the companies believe that the need to professionalize the business is a key priority over the next 5 years. But the family firm has another dimension which other companies have to tackle: the family itself.</p><p>The issues in <a href="https://flevy.com/business-toolkit/family-business">Family Business</a> are much harder to address. They are more personal, more complex, and the risks if it goes wrong are potentially terminal. Many times, family firms fail for family reasons. It is no surprise then that the progress of Family Business when it comes to professionalization is slower.</p><h3>Contextualizing Professionalization: What is a Professional Company?</h3><p><a href="https://flevy.com/browse/flevypro/family-business-professionalization-3728">Professionalization</a> is more than a mere change in family management. A company is regarded as a professional when it has a high internal standard of performance and ethics which the company strives to achieve. A company is said to be professional when it has a culture that emphasizes on performance, consistency in rewards, adherence to the <a href="https://hbr.org/2002/07/make-your-values-mean-something">core values</a> of the company, strives for fairness, and treats people like adults.</p><p>A Family Business can be a professional when family owners are good stewards and a high level of performance is encouraged. This can be achieved when the Family Business adheres to the <a href="https://flevy.com/browse/flevypro/family-business-professionalization-3728">6 Pillars of Professionalization</a> which can lead Family Businesses to be professionally managed.</p><h3>The 6 Pillars of Professionalization</h3><p><a href="https://flevy.com/browse/flevypro/family-business-professionalization-3728" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2019/04/slide-1-_-Professionalization-of-family-business.png?profile=RESIZE_710x" width="750" class="align-full" alt="slide-1-_-Professionalization-of-family-business.png?profile=RESIZE_710x" /></a></p><ol><li><strong>Attract</strong><br /> The first pillar is Attract, develop, and retain great family and non-family talent. The best position is for a family that produces a business leader with enough skills, good values, and has the ability to keep shareholders, employees, key customers, suppliers, and other loyal family leaders. A family must be realistic about its talents and passions to make rational decisions as to who will manage and lead the business.</li></ol><ol start="2"><li><strong>Ensure</strong><br /> The second pillar is Ensure that the organization can always make a timely big decision. The best position would be when the business makes timely decisions about capital expenditures, organization changes, hiring of key managers or its strategy to succeed. Taking timely big decisions is essential in business more so when the business environment is very volatile.</li></ol><ol start="3"><li><strong>Strengthen</strong><br /> The third pillar is Strengthen family discipline and commitment towards the business. There should be enough family discipline to act responsibly towards the business and adequate dialogue about important family business concerns. Family commitment to the business is of strategic importance.</li></ol><ol start="4"><li><strong>Respect</strong><br /> The fourth pillar is Respect the management hierarchy and empower employees to make decisions. Family members must respect the hierarchy of the business and must involve non-family managers in decisions. The congestion of decision making at the top of the organization generates passivity, slows progress, and stifles creativity.</li></ol><ol start="5"><li><strong>Create</strong><br /> The fifth pillar is Create systems to ensure consistently high performance and fairness. There is professionalism when family management is systematic within its <a href="https://flevy.com/business-toolkit/performance-management-perf">Performance Management</a> practices. We need to understand that systems are the fundamental driver of professionalism.</li></ol><ol start="6"><li><strong>Guard</strong><br /> The sixth pillar is Guard your core values like a hawk. Employees must embody the core values of the business and the basic ethical standards of honesty, respect and fairness. The ethical dimension of professionalization is as important as the performance dimension.</li></ol><p>The process <a href="https://flevy.com/browse/flevypro/family-business-professionalization-3728">Family Business Professionalization</a> is one with a lot of challenges. Each pillar has its own challenges, as well as strategies to take to effectively put these pillars in place. Understanding these challenges and strategies provides companies the best direction to undertake the 5 Pillars of Professionalism.</p><p>Interested in gaining more understanding of the <a href="https://flevy.com/browse/flevypro/family-business-professionalization-3728">6 Pillars of Family Business Professionalization</a>? You can learn more and download <a href="https://flevy.com/browse/flevypro/family-business-professionalization-3728">an editable PowerPoint about <strong>6 Pillars of Professionalization</strong> here</a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>Taking the High Road to Competition: Achieve Business Capabilities Coherencehttps://globalriskcommunity.com/profiles/blogs/taking-the-high-road-to-competition-achieve-business-capabilities2019-12-20T06:30:00.000Z2019-12-20T06:30:00.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><p>Sustainable, superior returns accrue to companies that focus on what they do best. It is that simple. Yet it is incredibly hard to <a href="http://flevy.com/blog/wp-content/uploads/2019/03/Business-CApabilities-Coherence-300x189.jpg" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2019/03/Business-CApabilities-Coherence-300x189.jpg?profile=RESIZE_710x" width="300" class="align-right" alt="Business-CApabilities-Coherence-300x189.jpg?profile=RESIZE_710x" /></a>internalize. It is a rare company that focuses on what we do better than anyone in making every operating decision across every business unit and product line. Rarer still is the company that has aligned its differentiating internal capabilities with the right external market position.</p><p>These companies are called coherent.</p><p>Most companies do not pass the coherence test because they succumb to intense pressure for top-line growth. They chase business in markets where they do not have the capabilities to sustain success. Being coherent allows our companies to establish our differentiated capabilities to achieve greater profitability and market leadership.</p><p>Coherence is achieved when a capabilities system supports a focused strategic purpose, otherwise known as a <a href="https://flevy.com/browse/flevypro/capabilities-driven-strategy-cds-3677">Capabilities-Driven Strategy (CDS)</a>.</p><h3><strong>Capabilities Coherence Framework</strong></h3><p>Any company in any market must carefully consider its external market positioning and its internal capabilities (i.e. <a href="https://flevy.com/business-toolkit/core-competencies">Core Competencies</a>). However, for the company to maximize its chances of success, it must have in place a "coherent" set of Business Capabilities.</p><p>Specifically, Competitive Advantage is achieved when <a href="https://flevy.com/business-toolkit/value-creation">Value Creation</a>, Capabilities System, and Product & Service Fit are aligned. This concept is outlined in the <a href="https://flevy.com/browse/flevypro/business-capabilities-coherence-3704">Capabilities Coherence Framework</a>.</p><p><a href="http://flevy.com/blog/wp-content/uploads/2019/03/1st-slide-Business-Capabilities-Coherence-1024x768.png" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2019/03/1st-slide-Business-Capabilities-Coherence-1024x768.png?profile=RESIZE_710x" width="750" class="align-full" alt="1st-slide-Business-Capabilities-Coherence-1024x768.png?profile=RESIZE_710x" /></a></p><ol><li><strong>Value Creation. </strong>Are we clear about how we choose to create value in the market place?</li></ol><ol start="2"><li><strong>Capabilities System. </strong>Have we articulated those capabilities that we do uniquely better than anyone else?</li></ol><ol start="3"><li><strong>Product Fit. </strong>Do most of the products and services we sell fit with our capabilities system?</li></ol><p>Understanding our Value Creation, Capabilities System, and Product Fit requires our company to go through a simple diagnostic that will determine whether our company is going off the rails.</p><h3><strong>The Pfizer Case Study: A Showcase of Coherence in Action</strong></h3><p>The consumer health care business of Pfizer is a good example of capabilities coherence. After its back to back acquisitions of Warner-Lambert and Pharmacia in the early 2000s, the pharmaceutical giant owned several leading consumer products: Listerine, Benadryl, Sudafed, Nicorette, and Rogaine.</p><p>In 2002, Pfizer set the goal of becoming a leader in global consumer health care. A capabilities lens was applied to the business. Let us look at the market conditions that prompted Pfizer to take on this strategic direction.</p><p>Pfizer was faced with a market that was highly fragmented and no player enjoyed more than 5% share globally. Competition was stiff as there were mass retailers enjoying alternatives to brand name drugs. Country by country regulations were tight pulling the overall growth to a very low level.</p><p>To gain headway in the market and remain in the lead where competition is stiff, Pfizer realized the need to take the giant step to coherence guided by the 3 Principles of Value Creation, Capabilities System, and Product Fit. When coherence in capabilities was achieved, breakthroughs were reached leading Pfizer to greater profitability.</p><p>By 2006, Pfizer was able to grow its Consumer Healthcare to nearly $4 billion in annual sales. The company redeemed the value by selling the business to Johnson & Johnson 20x EBITDA. This is a basic example of coherent companies that gain superior financial performance. Beyond the result is the approach. Pfizer was able to take on the high road to achieving <a href="https://flevy.com/browse/flevypro/business-capabilities-coherence-3704">Business Capabilities Coherence</a> in the road called Competition.</p><p>Interested in gaining more understanding of <a href="https://flevy.com/browse/flevypro/business-capabilities-coherence-3704">Business Capabilities Coherence</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/business-capabilities-coherence-3704">editable PowerPoint about <strong>Business Capabilities Coherence</strong> here</a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>Capabilities-Driven Strategy: The Key to Getting your Growth Strategy Righthttps://globalriskcommunity.com/profiles/blogs/capabilities-driven-strategy-the-key-to-getting-your-growth2019-12-04T06:30:00.000Z2019-12-04T06:30:00.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><p>Formulating a <a href="https://flevy.com/browse/flevypro/capabilities-driven-strategy-cdr-3677">Capabilities-Driven Strategy (CDR)</a> is easy, but the execution is difficult, especially in turbulent times. This is not the time to<a href="http://flevy.com/blog/wp-content/uploads/2019/03/Capabilities-Driven-Strategy-300x200.jpeg" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2019/03/Capabilities-Driven-Strategy-300x200.jpeg?profile=RESIZE_710x" width="300" class="align-right" alt="Capabilities-Driven-Strategy-300x200.jpeg?profile=RESIZE_710x" /></a> find a cave and hibernate until the economic storm passes. It is unlikely that the storm will pass anytime soon. Capabilities-Driven Strategy is the only way to remain equipped for perpetually stormy weather.</p><p>Companies need to take care or build those capabilities that are genuinely needed and not those that do not serve our customers. Capabilities do not manifest themselves overnight. They take time to grow. But companies who have mastered the art of developing and implementing a Capabilities-Driven Strategy have grown to develop the world’s leading brands. Distinctive capabilities--i.e. <a href="https://flevy.com/business-toolkit/core-competencies">Core Competencies</a>--have been used to propel them to reach operational and business excellence.</p><h3><span style="font-size:12pt;"><strong>What is a Capabilities-Driven Strategy?</strong></span></h3><p>A capabilities-driven approach to strategy allows companies to become coherent. This leads companies to achieve scale by applying their distinctive capabilities throughout the entire company. Instituting a Capabilities-Driven Strategy requires articulation of capabilities that help companies succeed in the key market.<br /> The bulk of the company’s support should then focus on these capabilities. This can be achieved by taking on a <a href="https://flevy.com/browse/flevypro/capabilities-driven-strategy-cdr-3677">3-phase Approach to Capabilities-Driven Strategy</a>.</p><h3><span style="font-size:12pt;"><strong>The 3-phase Approach to Capabilities-Driven Strategy</strong></span></h3><p><a href="https://flevy.com/browse/flevypro/capabilities-driven-strategy-cdr-3677" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2019/03/1st-slide-Capabilities-Driven-Strategy-1024x768.png?profile=RESIZE_710x" width="750" class="align-full" alt="1st-slide-Capabilities-Driven-Strategy-1024x768.png?profile=RESIZE_710x" /></a></p><ol><li><strong>Identify Capabilities</strong><br /> Phase 1 starts by identifying the drivers of demand in your market. It is essential to identify capabilities that could meet expectations and satisfy our customers.</li></ol><ol start="2"><li><strong>Build Capabilities</strong><br /> Building capabilities are the next critical phase underlying the Capabilities-Driven Strategy. Phase 2 looks into the building up of complementary, reinforcing capabilities vital in our capacity to execute and deliver.</li></ol><ol start="3"><li> <strong>Divest Business</strong><br /> Divesting business is the 3rd phase of Capabilities-Driven Strategy that requires a thorough analysis of our capabilities and actions. We can either streamline or sell our businesses. What we have – our capabilities play a vital role in this decision that we have to make.</li></ol><p>Whatever decision our company takes, what is essential is to have the foresight to anticipate future industry dynamics and customer needs.</p><h3><span style="font-size:12pt;"><strong>What Makes Starbucks Stand Out</strong></span></h3><p>Starbucks is the world’s most iconic brand and known for ambiance in its retail stores. Strategically, Starbucks used its distinctive capabilities to be the purveyor of the “third place” for conviviality. To achieve this means being the center for human activity after home and work.</p><p>Starbucks has to identify its distinctive capabilities before being able to use it strategically. Starbucks has stewardship over a globally available consumer experience. It can distinctively deliver its products and service, as well as design and develop a premium product line. Starbucks is known for recruiting and managing a cadre of dedicated employees.</p><p>Summing it all up allows Starbucks to develop the Capabilities-Driven Strategy that will establish itself as the purveyor of the “third place” for conviviality.</p><p>Distinctive capabilities are effective tools that companies can use to connect where they aim to go and what they can accomplish. Starbucks was able to effectively use these tools to lead them to where they want to go and be. The journey can be a challenge for each and every company. We can all be like Starbucks. We just need to have a good grasp of what we have and what we are capable of doing. This can make a big difference between becoming what we aim for and just being content with where we are now in the midst of uncertainty.</p><p>Interested in gaining more understanding of <a href="https://flevy.com/browse/flevypro/capabilities-driven-strategy-cdr-3677">Capabilities-Driven Strategy (CDR)</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/capabilities-driven-strategy-cdr-3677">editable PowerPoint about <strong>Capabilities-Driven Strategy (CDR)</strong> here</a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>