5 Keys to Falling Back in Love with Your Business - Business Consulting, Business Growth… https://t.co/Wem33rBKYN https://t.co/mdREhcYKsd
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Big corporations need new strategies in a world of digital disruptors. That means setting ambitious visions and coming up with concrete action plans. The new C-suite mantra: “What’s your play?”
Digital technology is radically changing the behavior of individuals, corporations, and entire societies, and disruption seems to be the new normal. CEOs are faced with the dual challenge of protecting their backyards from upstarts and incumbents while simultaneously devising strategies that will guide their growth for the next five years.
For most, this is a daunting task. If you are a senior executive faced with these challenges, how do you ensure the continued growth and sustainability of your company? Or, to put it another way, What’s your play?
Some Fortune 500 companies are doubling down on defensive strategies, promoting cost efficiency and productivity to protect their core business. Others are attempting to “future-proof” their business model through acquisitions. For instance, following a five-year acquisition spree, Walmart’s $3 billion deal with Jet.com signals a serious commitment to competing with Amazon.com. General Motors Co. is clearly thinking about the future of car ownership with its (unsuccessful) attempted acquisition of Lyft.
None of this is wrong, and the logic makes sense. But is either approach sufficient to sustain the growth and health of your business and demark you from competition longer term? We believe not.
When challenged by a host of disruptors who are exploiting traditional market dynamics, finding growth opportunities in increasingly onerous regulatory and competitive conditions is hard these days. And harnessing the power of constantly evolving digital technology to break down well-established barriers to entry and devise new business models is a complex endeavor. To rise above the fray in this challenging context, you need to find ways to fight a battle you’re well positioned to win. For leaders of big companies, this means capitalizing on an ability to do things the disruptors simply can’t — set an ambitious vision, plan globally, invest strategically, and mobilize considerable resources to assert digital dominance. In other words, elevate above the level of the disruptors and transform your scale from a liability into an asset.
This may sound easy, but it isn’t. Too many companies are still formulating their growth strategies based on traditional growth planning approaches — yearly cycles, historical analytics, and incremental thinking. With the velocity and uncertainty that characterize this new digital economy, traditional growth planning has reached the end of its useful shelf life. It just won’t get you there.
Companies need to reframe the way strategy is formulated around three fundamental truths, and plot their next steps by embracing and owning these truths:
Truth 1: You can’t analyze your way to the future; you need to invent it.
Traditional analytical models that have been the bedrock of strategic planning for years are important as a means of establishing a foundational understanding of the world that exists today and the current opportunity areas. However, if you are looking to define a strategy that will enable your company to achieve disproportionate growth and create competitive advantage, you need to push beyond pure analysis.
What if the razor industry, dominated in the United States by giants Gillette and Schick, had looked beyond known competitors to anticipate the value in a direct-to-consumer subscription service? Would the e-commerce razor delivery company Dollar Shave Club have had such a meteoric rise? And would powerhouse Unilever, which acquired the startup in 2016, have expanded as meaningfully into the shaving business?
What’s your play?
Successful digital strategy requires a blend of deductive analysis and the type of inductive reasoning that powers the creative leaps that anticipate, and often open, fundamentally new markets. To help your organization se
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from Pradodesign Ford patents a head rest specifically designed to hide a travel pillow Ford might have just solved a question that puzzled the automotive industry for eons: Where does one store a travel pillow in a car? On the floor? In the trunk? In an NPR tote bag in the backseat? Nope. Ford wants…
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Autopilot’s CMO, Guy Marion reveals how to leverage data and turn interruptive marketing to a more contextual and inbound strategy
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Effective sales coaching for business - Mondays blog
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Charles Pittaway, Managing Director of Sage Pay. More than half (52%) of South African Internet users are eager to make mobile payments, according to market
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With so many choices on today’s grocery store shelves, it’s easy to get overwhelmed. Make shopping easier by following these 10 guidelines.
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How do you spend your day? Strategically thinking or tactically responding? Top-performing salespeople and, for that matter, any successful person knows the
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In the second chapter of DNA of the CFO, “Is the future of finance new technology or new people,” the survey findings show that the transformation process of th
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Little Black Book, Why Women-Only Cars Are Missing The Point. INFLUENCER: Partners Andrews Aldridge’s Polly Jones on why brands should be focusing on more than just gender
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3 in 4 allow their employees to access corporate data on their personal devices
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Have these conversations and start understanding your customers better
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Is this what your old convenience store looked like?
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Even with advanced preventative services, over half of all adults in the United States have gum disease according to the American Academy of Periodontology. When left untreated, this oral health condition can result in tooth loss, bleeding gums, and chronic pain.
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The state’s largest dental insurer plans to sell new low-cost coverage, and dentists fear losing income.
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The 2017 email marketing trends to grow your list, make more sales, and engage with your audience better.
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This proven formula enables startups to get their customer experience right from day one.
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It might seem like an odd thing to say but Aldi is making Brits richer just by competing with the other chains. And that is why competition is the consumers’ best friend.
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Avoid toothaches, cavities, and gum disease with these tips to keep teeth healthy from childhood through old age.
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The ultimate guide on building social proof from scratch for more conversions.
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You should mind your manners everywhere, even at the dentist.
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Here’s our recap of what happened in online marketing today, as reported on Marketing Land and other places across the web.
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Let’s be real, prospecting is not the easiest part of working in sales— but people who are good at it could really rake in a fortune for their company and make a name for themselves. Prospecting is the process of tying potential customers to the business and manually building connections. You’d have to go around…
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Toyota and Lexus are the most popular brands
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Personalized marketing is one of the biggest trends of 2017. But how do you capitalize on the trend without taking marketing personalization too far and scaring your customer off? Here’s how.
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In the coming years of continued industry change, hospitals and health systems will require more discipline than ever before in their business planning processes. Just as the multi-year ACA rollercoaster ride began to slow down, the 2016 presidential election introduced a new challenge for hospital
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Sales revenue is one of the most important factors in determining the success and progress of a company. With this in mind, it’s extremely important to develop a strategi
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2017: the year fintech shifts its focus to Africa - Banking Technology https://t.co/L3IT0dHcWD https://t.co/8d66bjfTyE
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Eugene Marinelli, the founder and chief technology officer of Blend Labs shares his advise on starting a fintech.
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Identifying risks can prevent malpractice lawsuits.
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Valmet Automotive has signed an agreement with Semcon, an international technology company listed on the Stockholm stock exchange, to acquire Semcon’s auto
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Volkswagen has agreed another compensation deal with US car owners affected by the “dieselgate” scandal.
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Most of us don’t exactly get fired up about a visit to the dentist. I completely dread it, in fact! Often, we let those bi-annual appointments slide and wait to visit the dentist until we have a more serious problem. What many people don’t realize, however, is that regular dental visits and maintaining oral hygiene …
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