While sustainability is a word that has found a palace in the lexicon of most people, few are genuinely hands-on in doing something about it. The general belief is that it is someone else’s job. And that is why, the carbon emissions are increasing for most of the world’s biggest companies, and even at the board levels there is little in the way of systematic sustainability audits. The companies that have successfully managed to have any effect, are the ones that have inculcated a sense of ownership towards the cause among its employees. This sense of ownership is equally good for the company’s talent management practices as this inevitably leads to improved job satisfaction. A framework can be adopted across the board for the effective implementation. This framework need have three phases that are- incubation, launch and entrenchment. At the incubation stage, as successfully done by ING, a sense of purpose ought to be established, so that the employees feel themselves valuable enough to be contributing towards a greater cause. At the launch phase, specific plans are detailed team-wise to specify the inputs and expected outcomes. Financial services firm Old Mutual conducted specific management training workshops for its senior executives to detail the plans. At the entrenchment stage, these inputs become part of the routine, as it gets deeply embedded within the system as has happened at BASF.

https://hbr.org/2018/02/how-to-make-sustainability-every-employees-responsibility?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert&referral=00563&spMailingID=19070288&spUserID=OTY0OTMwNTk5NwS2&spJobID=1201484687&spReportId=MTIwMTQ4NDY4NwS2

Uploaded Date:03 March 2018

The giants among digital natives such as Amazon, Tencent and Rakuten from Japan are tough to categorize in terms of industry of belonging. They collectively dabble in several industries and have redrawn the boundaries between each of them. This would be unimaginable in the traditional sectors. Technological changes have over time led to sectors being born, disappear and then merge. Banking for example has undergone several changes. Customer expectations too are changing thanks to newer inputs being available for them. Customer-centricity has increased as a pillar in businesses. All strategic decisions companies are taking are based around insights derived from enormous sources of data warehousing. There exist different stages in the digitation curve. They are needed at stages such as search, acquire, use, maintain, sell and collaborate. The priorities for companies too ought to expand with time. The entire mindset to be opted for must be towards an overall ecosystem. Any business analytics operations to be conducted must be done around the right data available. But all this data will be rendered pointless if brands fail to connect emotionally with theircustomers- existing or potential. The partnerships forged must be based around shared synergies. The aim must be to ensure that the whole is bigger than the sum of all individual parts.

Source:https://www.mckinsey.com/business-functions/mckinsey-analytics/our-insights/competing-in-a-world-of-sectors-without-borders?cid=other-eml-ttn-mkq-mck-oth-1712

Uploaded Date:01 March 2018

A model known as Design-to-Value (DTV) is gaining in popularity now. Most organizations though are unable to leverage this model, due to existing hierarchies. The strategy business consulting dealingwing at PwC has looked into this to suggest ways to holistically implement this model. First of all, the targets need be broken down in terms of design, engineering and procurement channels depending on project or product. Technical solutions need to be revisited depending upon evolving customer requirements. Similarly, the technicalities need to be studied to check for product optimization possibilities. A cost to weight analysis must be done to gauge supplier quotations or solutions for design. Assembly parts must be assessed against whether to make or buy readymade. Finally, the Product Value Management (PVM) concept needs to be implemented across the organization. Classical product development is full of shortcomings. A governance structure helps so that true product value may be realized. A proper road map before pitching operations is a must.

Source:https://www.strategyand.pwc.com/reports/holistic-value-design?sf182053160=1

Uploaded Date:27 February 2018

While several companies are failing at the execution part of the corporate strategy drawn up, certain common themes have been identified for this collective failure. The first of these is a sense of mistrust among employees leading to inadequate information sharing. A clear example is that at Microsoft in the previous decade, when years before the launch of Apple’s first iPhone, Microsoft came to know of it. But they failed to beat Apple in the game due to poor talent management practices at Microsoft where a stack system for rankings was followed. This system prevented collaboration within the team of software developers. The second major barrier is a low level of openness towards transformation. At such places, there is often a lot of talk, but little in terms of actual output. Even, when action is taken, it is not aligned to the strategy drafted. This action is very mechanistic with little focus towards creativity. In order to preserve the status quo, a certain complacency creeps in to the operations.

Source:https://knowledge.insead.edu/blog/insead-blog/five-reasons-most-companies-fail-at-strategy-execution-4441

Uploaded Date:23 February 2018

The companies proving to be the true winners of the digital age are those that are solving everyday problems. Southeast Asia is one such market which is at the forefront of digital innovation. The region was a bit slow to react due to numerous local logistical problems, but now spearheaded by some indigenous firms, Southeast Asia is at the cutting edge of such innovation. Zalora is a pan-Asian clothing giant which is changing retail norms for the region. Lazada, which is an e-commerce initiative funded by Alibaba, has responded to Amazon’s entry to the region by ramping up their efforts. They have partnered with over eighty logistics firms in the region to ensure best last-mile delivery. Technology is also helping in talent recruitment and subsequent retention. This recruitment refers to both new recruits who tend to be younger, as well as reskilling of existing, typically older employees. The latter need to be retrained in order to respond to present business challenges. Retailers are also taking care of the instant feedback that platforms such as We Chat or Facebook are enabling. The supply chain has thus been ramped up to provide the best delivery options.

Source:https://knowledge.insead.edu/blog/insead-blog/digital-winners-transcend-technology-8331

Uploaded Date:23 February 2018

Communicating change or business transformation is a very tricky task. While there are clear norms to be followed known to everyone, like losing weight people do not always apply the right techniques. In order to communicate such transformation, certain maxims ought to be followed, starting with very specific measurable information devoid of ambiguity. The reasons ought to be explained to the people. The leadership must ensure consistency in delivery of communications so that people eventually get it. A visual demonstration will work best. The corporate communication aimed must be both-sided with scope for feedback. The major focus of this communication must be towards the front-line leaders as they are the ones who will first interact with the final customers in view of the new philosophy. Companies good at talent management such as P&G will always support the people in such new initiatives. During further communication, the leadership must stress on the gains made thus far. Email must not be the only source of information dispersal. This information flow needs to be formalized within a process. Whatever changes aimed, the leaders must walk the talk themselves by implementing it in their work lives.

Source:http://innovationexcellence.com/blog/2018/02/04/11-ways-to-communicate-change/

Uploaded Date:19 February 2018

Stora Enso could be titled the world’s oldest extant company as the paper producing giant has been in operation since its formation back in 1288. However, declining paper sales has meant that the company’s top line and bottom line both started wavering, come the start of this decade. Previously about seventy percent of the revenues and three-fifths of the profits emanated from paper. A third of its once thirty-thousand strong workforce had been laid off but to little avail on the bottom line. The typical problem-resolution strategy would have been to enlist the services of some business consulting firm. However, Stora did it differently. They instead chalked out an internal team called Pathfinder which was a diverse collection of people from different levels. They devised a five-step strategy which not only helped Stora ride the storm, but in fact ended this period with a changed business outlook. First of all, Pathfinder tapped into the diversity inherent in the firm to gauge crucial insights and ideas. The leadership took a hands-on approach, during a six-month period to transform the company. This mission was built around the most critical of aspects. Intensive levels of corporate training was doled out to ensure the contribution levels of the diverse team accelerated. Stora Enso also relied heavily on the business parameters as well as people ones to gauge the effectiveness of the campaign thus far.

Source:https://hbr.org/2018/01/how-the-worlds-oldest-company-reinvented-itself?utm_medium=email&utm_source=newsletter_weekly&utm_campaign=weeklyhotlist&referral=00202&spMailingID=18962244&spUserID=OTY0OTMwNTk5NwS2&spJobID=1200305500&spReportId=MTIwMDMwNTUwMAS2

Uploaded Date:17 February 2018

Most companies tend to have leader with an operational skill-set, who know how to maintain control. However, very few companies possess the kind of leadership to steer the team in a strategic design. A study by PwC in 2015 concerning around six-thousand senior executives, confirmed that only eight percent of the leaders were strategic and good at leading transformations. The study also confirms that women are more likely to be strategic than men are. In order to hone such strategic skills, responsibilities must be divided equally, and leaders must understand how to delegate tasks. Information must flow through freely. Idea testing must take place around multiple paths. The environment must allow failure as only then will innovations be tried out. Other strategists must have access so that they can contribute effectively. On-the-job, experience-based learning must be encouraged. The talent recruitment done must provide space for transformation to occur. Enough time must be found out to reflect on work and absorb the learnings. Finally, the team must realize that leadership development is a continuous process, so cannot be conducted over one-time management training sessions alone.

Source:https://www.strategy-business.com/article/10-Principles-of-Strategic-Leadership?gko=25cec

Uploaded Date:14 February 2018

While coffee is a mass commodity, sold on exchanges, Howard Schultz’s philosophy at Starbucks, de-commoditized it. He inculcated the art of service design, a concept imported from Europe to the USA. The idea was to slow down, and enjoy each facet of the coffee drinking experience rather than gulping down in large quantities. Starbucks has thus been able to manage the unique customer experience with growth pangs such as efficiency, consistency, speed and the right processes. While Schultz had left the day-to-day operations back in 2000, he returned within eight years because he felt the identity was being lost. Today Starbucks can be compared to experiences at the Apple Store, Victoria’s Secret, IKEA and Williams Sonoma. The complete opposite of Starbucks is Dunkin’ Donuts with its ‘grab a quick bite’ kind of philosophy. Tactical improvisations such as line extensions, more things to sell and add-ons can rectify the problem for a short period, but in the long run, high-end stores can suffer by going too mass-market. For Starbucks, business innovations cannot go astray from its unique identity. Indeed, its latest foray the Starbucks Reserve is about upscale roasteries for the true coffee aficionados.

Source:https://www.strategy-business.com/blog/How-Howard-Schultzs-Angel-Poised-Starbucks-for-Success?gko=46874

Uploaded Date:14 February 2018

A recent study by the strategy research wing of PwC confirmed that eighty percent of top executives feel that their company’s corporate strategy is not uniformly understood within. An even greater percentage feels that major opportunities were being missed due to not possessing a winning strategy. A book written The Essential Advantage: How to Win with a Capabilities-driven Strategy talks about some enterprises which had a clear, coherent identity around which the overall strategy was drafted. Traditionally businesses have measured themselves by focusing on growth, pursuing functional excellence and reorganizing to stimulate change. They have tried to cut costs by going lean with agility and resilience being recently added up to the roster of skills required. Instead, the newer more innovative companies are starting off by committing to a unique identity. They are using this strategy developed to gain competitive advantages on daily basis. The culture is being used for best talent management and retention practices. Costs are being cut, but to grow stronger. Finally, these companies are anticipating business trends, to shape their future.

Source:https://www.strategy-business.com/feature/Creating-a-Strategy-That-Works?gko=5d483

Uploaded Date:13 February 2018

Platform strategy is now one of the most talked about features in business. There have been some resounding successes over the last decade such as Amazon, Airbnb, Uber and eBay, but for each of these, there have been countless many more failures. In order to gain an advantage on the platform strategy, the founders need to have a seeing mindset, rather than a product one. A lot of them focus on features to highlight a good product, but it is the customer user interface that is most critical. A lot of these platforms have had teething problems in the early days when they did not know how to handle such unexpected crises situations. Now they all have a method for interacting with customers to gauge authentic business intelligence on their user experience. Beyond algorithms, the platform needs to think about the human cost or requirement. Instead of trying to replicate Uber’s success, new companies must try to build their own niche by forging valuable connections.

Source:http://mitsloan.mit.edu/newsroom/articles/platform-strategy-explained/?utm_source=mitsloantwitter&utm_medium=social&utm_campaign=platformexplainer

Uploaded Date:08 February 2018