It is well known that digitization is disrupting almost every conceivable industry, as well as individual roles. But to gauge the exact numbers, a study was conducted by consultingfirm- Bain. The study revealed that nearly three-fourths of respondents feel that digital is affecting operations by increasing speed and responsiveness. A slightly smaller number feels that it is reducing costs, and a similar number feels that it is improving on the ability to forge business innovations. Only a third however feel that it is there to transform existing business models. Companies are facing a massive conundrum. They are not sure whether to invest immediately or wait for the tide settling in. The latter risks falling behind competition or fully shutting down, while the former is also challenging as future requirements may be quite different. The need of the hour is to identify digital leaders who will identify two or three trends which will have substantial growth in the future. Any company requires both the Doers as well as the Dreamers. The former execute the operations, while the latter help in developing a vision for the future. Ambitious targets need be set with year-on-year growth targets above ten percent. Companies must invest in digital skills such as automation, business analytics and the Internet-of-Things.

Source:http://www.bain.com/infographics/digital-operations/

Uploaded Date: 30 may 2018

There is increasing pressure at the board level of all kinds of corporates to increase diversity and heterogeneity. There is also increasing divergence between companies’ governance and the execution of the same. A quiz was designed by INSEAD named Certificate in Corporate Governance to gauge the major challenges occurring in the same. Post the business intelligence grasped from this exercise, a list of twelve questions have been framed that companies must pose to themselves to determine where they stand. First of all, they must check whether the board maintains a fair balance between governance and execution. Then, does the board possess the capabilities to fulfill the duties. The next one must be about the periodicity of board meetings. This must also specifically address the chairperson’s periodicity in meetings with the management. The next few must gauge whether the chairperson is effective, can handle the pressing issues on the agenda, is competent and if not, whether the board is doing sufficient to make up for the deficiencies. The next thing to determine will be whether the board is making use of individual committees. The talent recruitment of board members must not be ad-hoc, but as per a robust process set. There must be an annual board review. Finally, one needs to gauge whether “Fair Process Leadership (FPL)” has been at play.

Source:https://knowledge.insead.edu/blog/insead-blog/12-questions-to-determine-board-effectiveness-6166

Uploaded Date:30 May 208

A clear evidence of gender equality is visible in the statistics quoted recently by INSEAD that says that majority of the professionals these days have a full-time working partner, with the proportion increasing further for the millennial generation. However, the talent management practices followed at most firms have not evolved likewise over the years. These companies have been treating dual-careerism has a zero-sum game. Their insistence on senior leaders switching roles every three years for instance, plays mockery with the concept of equal partners. The internet has enabled a large number of talent and ambitious professionals to work around flexible hours. Yet, their bosses are people who rose up through times which did not have these luxuries, so they insist upon the older ways. That is why Assistant Professor at INSEAD, Jennifer Petriglieri suggests the International Dual Career Programme which helps such couples to get their skills matched, helping at times of one partner relocating.

Source:https://knowledge.insead.edu/career/the-status-quo-isnt-working-for-two-career-couples-8996

Uploaded Date: 30 May 2018

Unfortunately, a lot of business leaders have a binary manner of thinking. They oversimplify matters, to choose one over the other. An overreliance on any particular solution invariably leads to the genesis of others. Due to the disruptive nature of modern business environments, leaders need to widen, lengthen and deepen their thinking. Widening involves taking a broader perspective, ideal for corporate strategy formulation. Lengthening is about thinking through a problem till the end, and not just the near-end solution. Deepening is perhaps the hardest, as it involves the ability to change one’s own blind spots and assumptions. Three core practices must be adopted to ensure such perspectives can be adopted. First of all, one must keep challenging one’s widely held convictions to test the truth over time. Each day must be begun with the most challenging task on hand. Inner feelings are really important, so one needs to gauge One must track when they enter fight-or-flight modes. It helps in navigating through negative emotions.

Source:https://hbr.org/2018/05/what-it-takes-to-think-deeply-about-complex-problems?utm_medium=social&utm_source=twitter&utm_campaign=hbr

Uploaded Date:30 May 2018

Maslow’s Hierarchy has long been a staple at MBA courses, but now a new pyramid has been designed outlining the 30 Elements of Value as needed by businesses. This has been developed by management consulting giant Bain. At the base level are the functional elements which simplifies tasks, save time, offer variety, reduce effort, avoid hassles, connect, organize, reduce cost and improve quality. The come the emotional elements which have therapeutic value, improve the aesthetics, reduce anxiety, provide access and generate entertainment. At the third level are the life-changing elements that lead to self-actualization, provide hope, motivate and generate a sense of belongingness. On top remain social-impact elements which lead to self-transcendence. The more is usually merrier, so companies or brands that can solve more of these, will provide greater satisfaction. Yet, some of these needs matter more, so they need to be focused more on. The digital plus omnichannel approach is most convenient.

Source:http://www.bain.com/infographics/EOV-B2C/

Uploaded Date:17 May 2018

A common trend highlighted by the World Health Organization (WHO) is that younger people are now more prone towards anxiety related disorders or depression than ever before. So, a study was conducted on college students in the UK, USA and Canada over a period of time stretching from 1989 till 2016 to gauge the truth behind this. The Multidimensional Perfectionism Scale was applied. Three kinds of perfectionism were tested, them being self-oriented, socially prescribed, and other-oriented forms. It was found out that indeed, students of the present generation are far more anxious and prone to phobias, depression and even suicidal thoughts. This business intelligence has been shared by the researchers of the Psychological Bulletin with universities, schools and employers. As a first tip, students must not consider failure as a synonym of weakness. Procrastination must be avoided at all costs, so work done is better than striving to achieve perfection. Beyond perfection, there are healthier goals to strive for such as diligence, perseverance and flexibility.

Source:https://hbr.org/2018/01/perfectionism-is-increasing-and-thats-not-good-news?utm_campaign=hbr&utm_source=twitter&utm_medium=social

Uploaded Date:17 May 2018

Social and technological forces are conspiring in a way to commit massive changes to the way work is done these days. Changes are also afoot at people performing the tasks and where they are getting executed. Business leaders are trying to understand these changes so that they may be better prepared to face the future workplace. To better understand this, Deloitte partnered up with marketing research agency Wiki Strat. Five major aspects were understood where changes are afoot, with two more such categories added later on. First of all, organization that will do well, will no longer grow in a linear fashion, but exponentially. Innovation will no longer be a one-time game-changer, but something that is to be a continuous process. Thus innovation will need to take place within the confines of a regulated business ecosystem. Due to digitization, consumers are no far more aware of the actual happenings, so companies will need to be ethical in their dealings and transparent about transactions. Talent management will really become tricky as millennials will dominate the workforce. They do not like getting tied down to rigid structures so will need to be given adequate freedom for the digital transformation to truly take place. The organization structure will need to be agile, so that such transformations can take place without major upheavals.

Source:https://www2.deloitte.com/insights/us/en/focus/technology-and-the-future-of-work/evolution-of-work-seven-new-realities.html?utm_content=buffereb68b&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Uploaded Date:17 March 2018