business (148)

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Almost every other day, startups emerge and disrupt established companies because of their innovative ideas and business models. This disruption is, primarily, due to the reluctance of big companies to implement a series of strategic and organizational practices required to organize and inspire creativity.

Large firms are, generally, better at implementation rather than innovation due to their long-established ways of doing business and other cultural elements. Their success is owing to optimizat

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New market entry provides potential opportunities for organizations to grow. But penetrating a market and establishing a new business is fraught with complications and failure. Attempts at entering a new market often fail, in fact, research suggests that for every successful market entry about 4 fail. The reasons for such high failure rates involve timing, scale, competition, capabilities, and predominantly irrational decision making.

The decision to successfully enter a market necessitates detai

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Does your Business require a Rebranding?

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Entrepreneurs usually focus on branding business to increase the visibility and awareness with its customers. As the business grows, it becomes necessary to be consistent in your efforts and maintain a brand which survives every market condition.

The brand is an essence of the business and requires to be promoted in a way that it creates a relationship with the customers and forms a positive image of the business.

Rebranding can be a great way to analyse the worth of your brand in the market and a

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Measure what Matters

8028280860?profile=originalAccording to Michael Henderson, Corporate Anthropologist on Oscar Trimboli’s Deep Listening Podcast, people in the western world like threes because we like balance.

We like Low, Medium and High. We like the Three Little Pigs and Goldilocks and the Three Bears.

We also like it when a salesperson stops at three when telling us about the wonders of their product. Trust and desire builds to three and starts to wane above three. As in, “Why does she need to keep listing stuff? Is there something not g

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Bedtime Data Stories

8028278484?profile=originalBedtime data stories are telling stories about data with data.

Have you ever asked yourself, “Why bedtime stories?”. Maybe you grew up with them and you have kept up the tradition. Maybe you understand they are good for your child’s development, in particular their vocabulary, comprehension and the development of their creative brains. If so, you would be right as evidenced in this research published in the journal Pediatrics.

However, there is more to it than their personal development. You are a

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Exponential S-Curves – what the?

8028278299?profile=originalThose of you that know your maths know that an S-Curve can have an exponential portion to its curve but it can’t BE an exponential curve. However, I recently came across a diagram showing a series of S-curves overlaying an exponential curve which to me portrayed something very different to seeing either in isolation. It was in this post by Tim Urban The AI Revolution: The Road to Superintelligence.

I am bringing this to your attention for two reasons. The first reason is to add to your appreciati

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Data Min(e)dset

There are data miners and then there is data mindset. The former are the people and/or their tools that do the digging through the numbers. The latter is about a whole lot more. 

Last week I blogged about how to help people believe the numbers. This week I am going a big step further talking about four different types of data mindsets and the implications for decision making in an organisation (see figure).   

            8028276887?profile=original                                                                     Data Mi

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Helping them believe the numbers

8028275682?profile=originalDecisions are all about emotion, however, numbers are so very important. At the end of the day if the bank balance is zero, no amount of emotion is going to change that. 
When it comes to numbers and decision making there are essentially three positions people take. 

Believers 

These people believe numbers enhance decisions. In fact, decisions should be based on the numbers. The effort must be put in to find and assess the numbers. 
The problem for these people is that if they can’t find any numbe

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When numbers hurt most

8028280301?profile=originalOne of the most soul-destroying events that can happen to a company is for a bean counter to be appointed as CEO with a vision that involves cost cutting and not much else. While I am one of the first to hold true to “In God we trust, all others bring data”, I have seen too many companies damaged from a CEO overly focused on cost cutting. A CEO that is dumped within a few years. 

Don’t get me wrong. A focus on costs is important and sometimes dramatic cost cutting is essential, however, as with a

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Spending vs Investing

8028278660?profile=originalA strategy is of itself a hypothesis. Something that is proved true or false over time.  For more on this, read one of my most popular blogs here: A strategy is but a hypothesis.

In proving your hypothesis, you eventually find out if you are spending on a failed strategy or if you are investing in a successful one.

The key to shifting from spending to investing is to set up your strategy, from the start, so you can measure your spend and your return on your investment each step of the way. This al

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From Trust to Trust with Data

8028277875?profile=originalWe need data we can trust so that we can build trust using data. However, it is not as easy as it sounds. 

A study of over 1,400 marketing campaigns by the Institute of Practitioners in Advertising in the UK found that campaigns selling on emotion only were 32% effective. Worse still, campaigns selling on logic only were 16% effective. Blah! 

More strikingly, campaigns combining logic and emotion were 26% effective. The use of logic brought the effectiveness down. 

Emotion in decision making is a v

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Enrique Suarez Presenting:

OneBankAssure: Customer Intimacy Through Machine

Learning

By:

MIT CISR

Title Author(s) Type Topic(s) Comments Date
OneBankAssure: Customer Intimacy Through Machine Learning Beath, Cynthia M.
Tarafdar, Monideepa
Ross, Jeanne W.
Working Paper Data Management, Analytics, and Use
Enterprise Architecture
IT-based Business Transformation
0 2018-03-12

Abstract: OneBankAssure [a pseudonym] sought to delight its customers by delivering new digital value propositions that exploited new data scie

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Learning How to Test and Learn

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Learning How to Test and Learn

By: MIT CISR

Author(s)

Ross, Jeanne W. and Fonstad, Nils O.

Type:

Research Briefing

Topics:

Digital Innovation

Business Agility

IT Governance

IT Investment and Portfolio Management

IT-based Business Transformation

2018-02-15

Abstract: To counter pervasive uncertainties in the business and technology environment and prioritize the most strategic innovation projects from myriad options, companies can take a test-and-learn approach to innovation investments. From our analysis of t

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Designing for Digital—Lessons from Spotify

Source: MIT CISR


Abstract: To remain competitive, established companies are increasingly recognizing the need to develop digital offerings. Digital offerings, however, are dependent on software. Unlike traditional products and services, software-based offerings constantly evolve in response to both customer demands and new opportunities to address customer needs. To support digital offerings, companies must adopt new organizing principles—specifically, em

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Competition and Business Strategy in
Historical Perspective -Harvard Business
School Note

I taught this course at IFAG, Lyon, France, back in 2009 as part of a Fourth Generation Management course (the Deming Philosophy of Management) to national (French) and international students from all over the world.

This course presented a nice summary of competition and business strategy in historical perspective so that the students can understand the evolution of business and management ideas that shaped

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Challenges to the Not-for-Profit Organizations: Lessons from the Delta Model.

Singapore's Case-study

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Click on the link below to see the entire PP presentations:

Part 1: The Delta Model as Applied to Not-for-Profit Organizations

DeltaModel_NonProfit_1.pdf

Part 2: Singapore Fundamentals and the Role of the Economic Development Board (EDB) in Making Singapore one of the most Advanced Economies in the world

Singapore_EDB_64.pdf

Upon request, I will send you the complete training program (electronic and non

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Northwestern Mutual’s Digital Transformation: Redesigning IT

Source:

MIT-CISR

Author(s): Sebastian, Ina, Beath, Cynthia M., Ross, Jeanne W.

Type: Working Paper

Topics: Design/Management of the IT Unit, IT-based Business Transformation

Date: 2017-10-26

Abstract: While in 2017 Northwestern Mutual had been in business for 160 years, management believed that success in the digital economy would require delivering digital products and services to extend the value that customers were receiving from the compa

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Digitized ≠ Digital

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Digitized ≠ Digital

By:

Ross, Jeanne W.
Beath, Cynthia M.
Sebastian, Ina

MIT CIRS

Abstract: To succeed in the digital economy, companies need to be both digitized and digital. Despite the similarity of the words, there is a big difference. Digitization is an operational necessity and involves standardizing business processes. To become digital, leaders must articulate a visionary digital value proposition for customers and deliver it in the form of digital offerings. This briefing clarifies what is in

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Another Successful Example on How to Compete: Putting Customers before Products (From Selling Hospital Beds to Protecting Patients)

Source:

 

MIT - CISR

Authors:

Moloney, Kate
Ross, Jeanne W.
Beath, Cynthia M.

Abstract: Hill-Rom Holdings started producing wooden furniture for hospitals in 1929. By 2017, the company was a diversified medical technology and services company. To leverage digital technologies, Hill-Rom was transforming from its traditional lines of business to a company that was leveragin

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