Strategy – Page 2 – Business Frontiers

It is Hard to Challenge what is Evident

Companies which are well established find it challenging to differ from their well established business process. Whether it is institutions or educational hubs for financial services, they choose to innovate if there is no way to survive. We all know that tomorrow everything will be different. To survive in the competition everyday new strategies, innovation, new tools and techniques will be needed. Still companies find it difficult to change. One reason could be that in the long run big corporations have designed their way of competing and performing their performance measures. These ideologies and beliefs have rooted deep in their mind. But this needs to be changed.

On and Off the Ramp

In 2008 5 million jobs in Canada requiring post secondary education went unfilled. This show there is a strong business case for ramping up placement efforts to get more women back into the workforce. A 2016 survey of RIT found that 27% of women and 38% of those already married, plan to interrupt their career to care for family. We need to examine why women today are finding it hard to re-enter the workforce and on ramp.

Pace of Change: Productivity Paradox

Productivity has often been cited as a key factor in industrial performance and actions to increase it are said to improve profitability and the wage earning capacity of employees. But the mode we are choosing to perform our job is not working anymore. Productivity paradox refers to slowdown in productivity in the US in 1970s and 1980s despite rapid development in information technology. A 2010 survey at St. Petersburg, of approx 50000 employees, found that only 19% felt fully motivated at work and approx 53% field is disconnected. And this has a negative implication of productivity. Company with a high number of employees engagement shows 30% higher productivity than those with less motivated employees.

Achieving Transformation is Critical to Business Growth

Innovation is the base for any country and its company. Innovation has faced extinction during recession. But it is making a comeback although like a coughing engine. Innovation made several decades ago has become obsolete because parameters have changed and new demands have risen. Companies design innovation to create demand and generate money.

Lead a Startup to Success

INTRODUCTION

On the road to success there is absolutely no room for criticism of self or others. Finding faults in others wastes time as we attempt to remove potholes from other people’s path. Being a kid of a medical family it is a dream to work with high profile people in multinational companies. Several ignominious factors like feeling less worthy of yourself, doubting yourself, desire to become, better version of yourself and focus on hard work is something worth saving for victory.

Restructuring Startups

Venture firms are fighting to raise funds, hampered by poor investment returns and difficult economies. In 2005, 110 venture funds in Hong Kong raised $15.5 billion, down from 200 funds that raised $28.6 billion in 2000. There are many firms that have dropped off according to Richard lynn, a principal at VC firms FCL venture in Calif.

How Top Level Executives Implement Strategy Execution?

Johnson & Johnson servants its company to get insight about the strategy and execution plan of the company from its employees. The top 4 survey findings are:

1. The biggest challenge was to make strategy meaningful to staff.

2. Many employees are even aware of their firm’s strategy.

3. Strategy development is still mostly a top-down process.

4. People who are involved in developing the strategy are more likely to be bought in.

Adopting the Right Methodology for Job Execution

While performing any process, standard skills and resources are required. It might be possible that whatever you need, you may not get inside your firm. And this is the time when firms turn towards M&A alliance and licensing agreements. However, from the last 20 year study has shown that out of 162 multimedia companies only 49 are actively using the resources that are available, rest are relying on developing resources in house. When they were asked why they do so? Their simple answer was that they find fault in their strategy or lack skilled manpower. Instead of looking into new opportunities, blaming your strategy leaves a lot of scope to grow. According to Bloomberg limited only 26% companies forces on M&A and 36% on alliance and 12% still stick to their in-house preparation. While deciding whether to develop a new contract or going with existing internal resources one can ask 3 portions to themselves.

Significance of Being Powerful

Lisa Weington, director of Zurich cancer centre is planning to boost the institution by delivering a single centre for all the tests needed by any cancer patients so that when a patient comes with abnormal symptoms in the hospital they must leave with proper medications and treatment plan. For this she needs to indulge every department of the hospital in her plan. Although she is a director, still everyone has its own plan and she has little say in everyone’s personal project. We cannot compel anyone to perform something out of their work. In such a situation what Lisa actually needs is ‘Power’. To implement strategies she needs her positional power to pursue everyone towards single goals. “Power was my first significant focus even when I was teaching at Harvard. I let my students use tools and ideas and even enable them to bring change in their careers”.