Businesses exist to serve the customers. This principle forms a key driving force for strategy development. When a business obsesses over customers, it has a laser focus on doing what is best for customers. This laser focus facilitates prioritization of product development, investments, and operational decisions. There are 3 key… [More]
How to Prioritize What to Preserve, Strengthen, and Transform for Your Business
The strategic roadmap for a business evolves to align with customer needs and technology advancement. There are many variables to consider. It is a complex, yet manageable process to sieve through options. A central idea to incorporate in the strategy development process is to evaluate and prioritize what you… [More]
Strategic Measurements that Elevate Business Performance
Strategic measurements are metrics used to monitor how well a business delivers on its strategic imperatives. These strategic imperatives generally cover five areas. They are customer, financial, operations, people, and partner. In monitoring performance in these five areas, it is a question about what information the business needs to convey… [More]
The Marvel of Pokémon
Pokémon just celebrated its 25th anniversary in the role-playing game business in February. It continues to draw a loyal following and a massive community around the world. Since the release of the first video game in 1996, the franchise bolds successes beyond the games arena. It has a hit television… [More]
Pause and Strategize
As we approach the end of a tumultuous year, your business likely has made numerous changes to comply with health guidelines, adapt to new ways your customers want to do business, or modify your portfolio of product and service offerings. For some businesses, impacts from the pandemic might work to… [More]
Strategy Renewal for Your Business
Strategy setting is critical to a business’ roadmap to success. The last three months have exposed every business to uncertainties of shifting customer demands and behaviors as a result of the pandemic. Some of these changes would be permanent while others might subject to further adjustments. Since no one can… [More]
Decisive Risk-taking
Crossing the road blind-folded is not a good idea. You risk missing the curb or running into other people. For the visually impaired people, they are trained to handle these risks. They use a cane and listen to the accessible pedestrian signal for cues. Risk-taking is inevitable in business. Avoiding… [More]
Knowledge as a Strategic Asset
A project management services company uses contractors extensively to deliver its services. The company serves a niche market in the utility sector. As the contractors are free to pick up work to fill their capacity, there is no guarantee that they would stay with the company. Subsequently, special knowledge is… [More]
How to Build a Culture for Continuous Improvement
Successful businesses rally their employees to act in a coherent fashion. This coherence is driven by a common set of values and beliefs. Culture is the foundation for these values and beliefs. Building a culture for continuous improvement doesn’t happen overnight. It takes persistence and commitment. There are five steps… [More]
Key Success Factors for Business Transformation
Ongoing market changes and technology advancement have posed an inevitable need for businesses to transform themselves in order to compete and thrive. Transformation for transformation’s sake could drain resources for little return. There are six key success factors for business transformation. 1. Customer experience enrichment Transformation efforts need to be… [More]
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