Business Strategy – Page 2 – Business Frontiers

How to Convert a Regular Job into a Creative One?

Today every employee is struggling with the thought of changing jobs. They feel unmotivated, unexciting and stagnant in their present job. But the slow economy and recession make them stuck with the present job. Richard, head of the marketing department, fights everyday in between his regular job and work he wants to do. This is not the story of just Richard, but around 70% of the working population are unsatisfied with their jobs. So if one cannot change his or her dog and is stuck in such a situation, what can one do?

Managing Decision Making Power of the Organization

Many companies feel that changing the structure of organisation, grabbing new innovation and designing new framework can lead to better performance. However JP Morgan case study shows that most of the organisation had no effects and what more some actually destroyed value. This is due to the misconception that company performance is better when its structure is compatible. In reality, a company’s structure results in better performance if it improves the organization’s ability to make and execute decisions better and faster than competitors. If you will sync your company’s structure with its decisions, then only the company will perform better.

How to Convince Your Team to Accept New Challenges?

There are companies whose revenue is increasing but losing market share. Customers prefer companies that can provide them complete services instead of discrete service. Does any company have this potential? IBM was at its lowest in 2005. By 2010 it had changed its business model and tripled its revenue. How it became possible in just 5 years? IBM top management convinced his employees to speak truth, offer him ideas and ask queries.

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.

Once A Leader, Always A Leader

The automotive industry has undergone many profound changes yet when you will see its basic structure is still the same as it was hundreds of years ago. The automakers are the main players and have the most power in the automotive industry’s production chain. Companies are trying to come out as a market leader through technologies and new development models. But now these factors are getting outdated to determine who will be a leader because if you will see a normal car it contains around 2500 to 3000 normal hardware and millions of programs.

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.

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.

Learning to Incorporate the Best of Everything

Swiss airline has gained a huge competitive advantage in the last four decades by providing its customers with a world class facility at very cost-effective premiums. From 1982 to 2001 its cost was just 4% per seat for each kilometre, half the cost of American airline. Swiss airline has combined both service as well as innovation to become a leader in the airline market. But balancing a boat and even for a longer duration is highly arduous. Also competition is high among trivial and providing epitome facility and meager price is itself a competition. Swiss Airline has successfully implemented its dual strategy in many Asian countries. Swiss airline has provided its customer highly differentiated yet customized services. No other country has executed dual strategy better than Swiss airlines with healthy returns.

Desperation is good, but not always in business

During the season end sale, the company offers gift cards to their customers who make any purchase from its shops and play simple quizzes. Customer who didn’t make the first attempt was ready to pay 53% more to win a card from the customer who had not. However only 20% of customers failed to keep the card instead of selling it. Customers who were not denied to play, 60% of customers kept willing to keep it. This study shows more you obstruct customers from having access in something there is a high chance that they will not keep it later.

How Would You Measure Success?

Ever thought why CEOs are so much concerned about the stock market and its value. It is because they are evaluated and judged on the basis of stock price. CEO’s pay scale and their compensation plan depends on their five years successful strategy. It has been assumed that incentives alone in the form of money motivates than. They can even get motivated through recognition and praise. Then why are they judged on the basis of stock value? CEOs have enough money they need. CEO’s are more concerned about stock value because this is how we measure them.