Extreme market volatility has prompted companies across industries to build more
effective business operations1
. Leading innovators such as Apple, Amazon, GE, HSBC,
and PayPal2 among others have addressed those challenges by harvesting the value of
information – at scale - and harnessing the art of the possible in their business operations.
This paper describes how product and business model innovation can be driven and
enabled by smart business process operations, be they transaction or decision support.
The evidence accumulated across hundreds of companies indicates that “industrialized
operations” – thanks to scientific decoupling and consolidation of part of business
processes run as an extended enterprise, utilizing data, metrics, as well as IT and HR
practices in innovative ways - constitute a material yet relatively untapped lever.
The goal of this paper is to explore executive perceptions and opinions about real time data applications and operations. We have interviewed over forty (40) Key Innovation Leaders who have been cited as the most innovative thinkers within the world of analytics and have documented distinctive case studies which have clearly optimized business intelligence.
In an earlier Linkage webinar delivered by Lonney Gregory, we explored behaviors to develop an innovative mindset and stimulate creativity. We believe in order to stay ahead of the competition, individuals and teams must be creative and innovative. And while that is true, creativity and innovative behaviors alone won’t guarantee innovation initiatives will succeed. But what if you could hedge your bets on innovation and increase the likelihood of success; would you do it? In addition to engaging in ways of thinking that inspire breakthroughs, repeatable organizational processes, cultural adaptations, and clearly defined approaches for integrating it all, including handling risks, will significantly increase the likeness of success for innovation in your organizations. This next session on innovation will introduce three basic concepts that lead toward successfully enabling an innovation capable organization; one that drives innovation throughout the organization.
In this session, participants learn about:
1. Identifying market opportunities using one of the most profound approaches for understanding what consumers and non-consumers want by defining what Clayton Christensen calls the “Job to be Done”
2. How to lead ultra-productive solution seeking sessions based upon the world famous IDEO Design Thinking methodology.
3. Applying principles to overcome what Steven Shapiro calls the performance paradox and for growing high performance teams.
Future Office Layout and Productivity Considerations for Startups and Scale u...Dave Litwiller
The Covid-19 response which moved much office work to virtual has created a natural productivity experiment in the knowledge economy. The favourable early results being reported by firms with employees working from home are challenging the widespread assumptions about the merit of extremely open offices as were frequently adopted in technology companies prior to the pandemic. For companies that will continue to have offices which are now designing re-occupancy plans, social distancing requirements offer an opportunity to revert to potentially more productive forms of office layout.
There are few constants in this world, but the way in which we do business is not one of them. Instead, companies must actively adapt to change within the marketplace. As the international landscape continues to grow smaller due to advances in technology, businesses are realizing the importance of operating on a global scale. As with any equally ambitious venture, although there is great potential for a strong return on investment (ROI), moving to a global model – or even strengthening one’s current global infrastructure – comes with a unique set of challenges. Among the most prevalent are the needs to operate around-the-clock, extend influence within emerging markets and implement a global vision throughout the enterprise.
View the original Blog post: http://www.eprentise.com/blog/the-changing-enterprise/preparing-for-tomorrows-market/
Website: www.eprentise.com
Twitter: @eprentise
Google+: https://plus.google.com/u/0/+Eprentise/posts
Facebook: https://www.facebook.com/eprentise
The goal of this paper is to explore executive perceptions and opinions about real time data applications and operations. We have interviewed over forty (40) Key Innovation Leaders who have been cited as the most innovative thinkers within the world of analytics and have documented distinctive case studies which have clearly optimized business intelligence.
In an earlier Linkage webinar delivered by Lonney Gregory, we explored behaviors to develop an innovative mindset and stimulate creativity. We believe in order to stay ahead of the competition, individuals and teams must be creative and innovative. And while that is true, creativity and innovative behaviors alone won’t guarantee innovation initiatives will succeed. But what if you could hedge your bets on innovation and increase the likelihood of success; would you do it? In addition to engaging in ways of thinking that inspire breakthroughs, repeatable organizational processes, cultural adaptations, and clearly defined approaches for integrating it all, including handling risks, will significantly increase the likeness of success for innovation in your organizations. This next session on innovation will introduce three basic concepts that lead toward successfully enabling an innovation capable organization; one that drives innovation throughout the organization.
In this session, participants learn about:
1. Identifying market opportunities using one of the most profound approaches for understanding what consumers and non-consumers want by defining what Clayton Christensen calls the “Job to be Done”
2. How to lead ultra-productive solution seeking sessions based upon the world famous IDEO Design Thinking methodology.
3. Applying principles to overcome what Steven Shapiro calls the performance paradox and for growing high performance teams.
Future Office Layout and Productivity Considerations for Startups and Scale u...Dave Litwiller
The Covid-19 response which moved much office work to virtual has created a natural productivity experiment in the knowledge economy. The favourable early results being reported by firms with employees working from home are challenging the widespread assumptions about the merit of extremely open offices as were frequently adopted in technology companies prior to the pandemic. For companies that will continue to have offices which are now designing re-occupancy plans, social distancing requirements offer an opportunity to revert to potentially more productive forms of office layout.
There are few constants in this world, but the way in which we do business is not one of them. Instead, companies must actively adapt to change within the marketplace. As the international landscape continues to grow smaller due to advances in technology, businesses are realizing the importance of operating on a global scale. As with any equally ambitious venture, although there is great potential for a strong return on investment (ROI), moving to a global model – or even strengthening one’s current global infrastructure – comes with a unique set of challenges. Among the most prevalent are the needs to operate around-the-clock, extend influence within emerging markets and implement a global vision throughout the enterprise.
View the original Blog post: http://www.eprentise.com/blog/the-changing-enterprise/preparing-for-tomorrows-market/
Website: www.eprentise.com
Twitter: @eprentise
Google+: https://plus.google.com/u/0/+Eprentise/posts
Facebook: https://www.facebook.com/eprentise
[talk with notes] Disruptive innovation is hard, and constitutes a different set of challenges and risks for all kinds of companies, regardless of size. To increase the likelihood of successful outcomes in moving from idea to execution, there are some strategies and lessons learned that Tamara, head of PARC’s global business development and commercial operations, will share. She will also share portfolio management as a framework for managing these challenges especially when you are considering multiple disruptive innovation investments.
THE STATE OF DIGITAL TRANSFORMATION 2018-2019 editionAmérico Roque
Agora em seu quinto ano, a pesquisa anual sobre o “Estado da transformação digital” continua documentando a constante evolução, à medida que as tecnologias disruptivas e seu impacto nas organizações e mercados continuam progredindo.
A pesquisa visa capturar as mudanças e tendências que estão moldando a transformação digital moderna.
Em 2019, a transformação digital estratégica está se tornando cada vez mais difusa, indo além da TI, para impactar a competitividade em toda a organização. Os investimentos estão subindo.
A experiência dos funcionários e a cultura organizacional também estão aumentando em importância para capacitar e acelerar mudanças, crescimento e inovação.
Estado de la Transformación Digital 2018-2019José Luis Casal
Interesante presentación de Brian Solis & Altimeter sobre el estado de la Transformación Digital y los pasos a seguir para lograr el éxito en este proceso.
Double Performance Prism: innovation performance Measurement systems for manu...AM Publications
No performance measurement system currently takes into account the innovator dilemma which consists of the necessity of balancing between the exploratory and exploitative innovation activities. This balance remains a major challenge in innovation management. Although small and medium enterprises account for 95% of firms in developed countries, according to Web of Science database, only 1.5% of research papers on innovation and 0.5% of research papers on performance measurement focus on small and medium enterprises. Drawing on the Performance Prism of Andy Neely, this paper develops an innovation performance measurement system for manufacturing small and medium enterprises in order to achieve a balance of exploration and exploitation activities. This model, known as the Double Performance Prism, is based on stakeholder theory. It considers innovation as a solution to customers’ expressed and observed needs. It has been implemented in two manufacturing small and medium enterprises. As key results, an innovation success map and a 10-indicator Innovation Scoreboard emerged from the research and implementation. The aim of these results is to foster the development of an ambidextrous organization. Further quantitative studies will be necessary to validate the proposed innovation map.
Asset Information and Analytics Drivers of Process Industry Operational Excel...Rolta
Operational excellence (OpX) is fundamental for success in the process industries and asset performance management plays a central role in every OpX program. This report reviews how poor asset information is constraining asset performance and what organizations can do to overcome these problems and significantly improve their asset performance.
Is customer centricity just another management fad? Globally, companies are investing more than USD 10 billion annually to drive customer centric transformations, yet four in five are left unsatisfied.
A hedge fund just bought 5 percent of your company. The fund partners clearly see value in what you’re doing, and, as a member of the management team, you take heart in that assessment. But you also know life is about to get more difficult. The fund partners are well-known activists. They have already asked for board seats. Now they’re proposing some dramatic strategic and financial changes, confidently assuring you and your shareholders that these moves will drive the company’s stock price higher. If you don’t comply and boost margins in a timely fashion, they will quickly bring in a management team that will.
For many company leaders, this is not a scary hypothetical — it is reality. It may also be an opportunity. In any case, activist shareholder campaigns are proliferating. According to the journal Activist Insight, 300 companies around the world were publicly targeted by activist investors between January and June 2015, about 25 percent more than in the same months the previous year. Since 2013, hedge fund managers have demanded change at hundreds of companies. The most widely publicized have included Apple, DuPont, General Motors, Microsoft, PepsiCo, Sony, Sotheby’s, and Yahoo.
One reason activism is growing is the rich rewards it earns for investors. On average, hedge funds with an activist approach have outperformed most other types of investment funds since 2010. The data analysis firm Hedge Fund Research reported recently that activist funds returned 12.5 percent a year between August 2012 and August 2015, while other funds, on average, earned returns in the single digits. No wonder investors increasingly demand activist funds in their portfolios, while the managers of those funds search diligently for new targets. No one can assume his or her company is immune.
We've distilled 10 principles for cost transformation that can help companies play the role of gadfly investor for themselves.
BRNOVEMBER-DECEMBER 1996I. Operational Effectiveness Is VannaSchrader3
BR
NOVEMBER-DECEMBER 1996
I. Operational Effectiveness Is Not Strategy
What Is Strategy r
For almost tv̂ fo decades, managers have been
learning to play by a new set of rules. Companies
must be flexible to respond rapidly to compet-
itive and market changes. They must benchmark
continuously to
achieve best prac-
tice. They must
outsource aggres-
sively to gain ef-
ficiencies. And
they must nur-
ture a few core eompetencies in the by Michael
race to stay ahead of rivals.
Positioning-once the heart of strategy-is reject- !
ed as too static for today's dynamic markets and
changing technologies. According to the new dog-
ma, rivals can quickly copy any market position,
and competitive advantage is, at hest, temporary.
But those beliefs are dangerous half-truths, and
they are leading more and more companies down
the path of mutually destructive competition.
True, some barriers to competition are falling as
regulation eases and markets become global. True,
companies have properly invested energy in beeom-
ing leaner and more nimble. In many industries,
however, what some call hypcrcompetition is a
self-inflicted wound, not the inevitahle outcome of
a changing paradigm of competition.
The root of the problem is the failure to distin-
guish between operational effeetiveness and strat-
egy. The quest for productivity, quality, and speed
has spawned a remarkable number of management
tools and techniques: total quality management,
benchmarking, time-based competition, outsourc-
ing, partnering,
rcungineer'ing,
change manage-
ment. Although
the resulting op-
erational improve-
ments have often
E. Porter ^^^^ dramatic, many companies have
been frustrated hy their inability to
translate those gains into sustainahle profitahility.
And hit by bit, almost imperceptibly, management
tools have taken the place of strategy. As manag-
ers push to improve on all fronts, they move farther
away from viable competitive positions.
Operational Effectiveness:
Necessary but Not Sufficient
Operational effectiveness and strategy are both
essential to superior performance, wbich, after all,
is the primary goal of any enterprise. But they work
in very different ways.
Michael E. Porter is the C. Roland Chiistensen Professor
of Business Adminislralion at the Harvard Business
School in Boston, Massachusetts.
HARVARD BUSINESS REVIEW N,)vt;mbt;r-D(.ct;mbi;r 1996 61
high
O
A company can outperform rivals only if it can
establish a difference that it can preserve. It must
deliver greater value to customers or create compa-
rable value at a lower cost, or do both. The arith-
metic of superior profitability then follows: deliver-
ing greater value allows a company to charge higher
average unit prices; greater efficiency results in
lower average unit costs.
Ultimately, all differences between companies in
cost or price derive from the hundreds of activities
required to create, produce, sell, and deliver their
products or services, such as calling on customers,
assem ...
Six Mistakes Companies Are Making Today And How You Can Avoid ThemFindWhitePapers
"Look for additional opportunities to use business intelligence to uncover value and drive
improvements. Consider advanced planning tools that can help close the gap between
strategy and execution. Expand the use of sophisticated what-if analyses to model the
operational and financial impact of multiple scenarios on revenue, costs, and cash flow."
[talk with notes] Disruptive innovation is hard, and constitutes a different set of challenges and risks for all kinds of companies, regardless of size. To increase the likelihood of successful outcomes in moving from idea to execution, there are some strategies and lessons learned that Tamara, head of PARC’s global business development and commercial operations, will share. She will also share portfolio management as a framework for managing these challenges especially when you are considering multiple disruptive innovation investments.
THE STATE OF DIGITAL TRANSFORMATION 2018-2019 editionAmérico Roque
Agora em seu quinto ano, a pesquisa anual sobre o “Estado da transformação digital” continua documentando a constante evolução, à medida que as tecnologias disruptivas e seu impacto nas organizações e mercados continuam progredindo.
A pesquisa visa capturar as mudanças e tendências que estão moldando a transformação digital moderna.
Em 2019, a transformação digital estratégica está se tornando cada vez mais difusa, indo além da TI, para impactar a competitividade em toda a organização. Os investimentos estão subindo.
A experiência dos funcionários e a cultura organizacional também estão aumentando em importância para capacitar e acelerar mudanças, crescimento e inovação.
Estado de la Transformación Digital 2018-2019José Luis Casal
Interesante presentación de Brian Solis & Altimeter sobre el estado de la Transformación Digital y los pasos a seguir para lograr el éxito en este proceso.
Double Performance Prism: innovation performance Measurement systems for manu...AM Publications
No performance measurement system currently takes into account the innovator dilemma which consists of the necessity of balancing between the exploratory and exploitative innovation activities. This balance remains a major challenge in innovation management. Although small and medium enterprises account for 95% of firms in developed countries, according to Web of Science database, only 1.5% of research papers on innovation and 0.5% of research papers on performance measurement focus on small and medium enterprises. Drawing on the Performance Prism of Andy Neely, this paper develops an innovation performance measurement system for manufacturing small and medium enterprises in order to achieve a balance of exploration and exploitation activities. This model, known as the Double Performance Prism, is based on stakeholder theory. It considers innovation as a solution to customers’ expressed and observed needs. It has been implemented in two manufacturing small and medium enterprises. As key results, an innovation success map and a 10-indicator Innovation Scoreboard emerged from the research and implementation. The aim of these results is to foster the development of an ambidextrous organization. Further quantitative studies will be necessary to validate the proposed innovation map.
Asset Information and Analytics Drivers of Process Industry Operational Excel...Rolta
Operational excellence (OpX) is fundamental for success in the process industries and asset performance management plays a central role in every OpX program. This report reviews how poor asset information is constraining asset performance and what organizations can do to overcome these problems and significantly improve their asset performance.
Is customer centricity just another management fad? Globally, companies are investing more than USD 10 billion annually to drive customer centric transformations, yet four in five are left unsatisfied.
A hedge fund just bought 5 percent of your company. The fund partners clearly see value in what you’re doing, and, as a member of the management team, you take heart in that assessment. But you also know life is about to get more difficult. The fund partners are well-known activists. They have already asked for board seats. Now they’re proposing some dramatic strategic and financial changes, confidently assuring you and your shareholders that these moves will drive the company’s stock price higher. If you don’t comply and boost margins in a timely fashion, they will quickly bring in a management team that will.
For many company leaders, this is not a scary hypothetical — it is reality. It may also be an opportunity. In any case, activist shareholder campaigns are proliferating. According to the journal Activist Insight, 300 companies around the world were publicly targeted by activist investors between January and June 2015, about 25 percent more than in the same months the previous year. Since 2013, hedge fund managers have demanded change at hundreds of companies. The most widely publicized have included Apple, DuPont, General Motors, Microsoft, PepsiCo, Sony, Sotheby’s, and Yahoo.
One reason activism is growing is the rich rewards it earns for investors. On average, hedge funds with an activist approach have outperformed most other types of investment funds since 2010. The data analysis firm Hedge Fund Research reported recently that activist funds returned 12.5 percent a year between August 2012 and August 2015, while other funds, on average, earned returns in the single digits. No wonder investors increasingly demand activist funds in their portfolios, while the managers of those funds search diligently for new targets. No one can assume his or her company is immune.
We've distilled 10 principles for cost transformation that can help companies play the role of gadfly investor for themselves.
BRNOVEMBER-DECEMBER 1996I. Operational Effectiveness Is VannaSchrader3
BR
NOVEMBER-DECEMBER 1996
I. Operational Effectiveness Is Not Strategy
What Is Strategy r
For almost tv̂ fo decades, managers have been
learning to play by a new set of rules. Companies
must be flexible to respond rapidly to compet-
itive and market changes. They must benchmark
continuously to
achieve best prac-
tice. They must
outsource aggres-
sively to gain ef-
ficiencies. And
they must nur-
ture a few core eompetencies in the by Michael
race to stay ahead of rivals.
Positioning-once the heart of strategy-is reject- !
ed as too static for today's dynamic markets and
changing technologies. According to the new dog-
ma, rivals can quickly copy any market position,
and competitive advantage is, at hest, temporary.
But those beliefs are dangerous half-truths, and
they are leading more and more companies down
the path of mutually destructive competition.
True, some barriers to competition are falling as
regulation eases and markets become global. True,
companies have properly invested energy in beeom-
ing leaner and more nimble. In many industries,
however, what some call hypcrcompetition is a
self-inflicted wound, not the inevitahle outcome of
a changing paradigm of competition.
The root of the problem is the failure to distin-
guish between operational effeetiveness and strat-
egy. The quest for productivity, quality, and speed
has spawned a remarkable number of management
tools and techniques: total quality management,
benchmarking, time-based competition, outsourc-
ing, partnering,
rcungineer'ing,
change manage-
ment. Although
the resulting op-
erational improve-
ments have often
E. Porter ^^^^ dramatic, many companies have
been frustrated hy their inability to
translate those gains into sustainahle profitahility.
And hit by bit, almost imperceptibly, management
tools have taken the place of strategy. As manag-
ers push to improve on all fronts, they move farther
away from viable competitive positions.
Operational Effectiveness:
Necessary but Not Sufficient
Operational effectiveness and strategy are both
essential to superior performance, wbich, after all,
is the primary goal of any enterprise. But they work
in very different ways.
Michael E. Porter is the C. Roland Chiistensen Professor
of Business Adminislralion at the Harvard Business
School in Boston, Massachusetts.
HARVARD BUSINESS REVIEW N,)vt;mbt;r-D(.ct;mbi;r 1996 61
high
O
A company can outperform rivals only if it can
establish a difference that it can preserve. It must
deliver greater value to customers or create compa-
rable value at a lower cost, or do both. The arith-
metic of superior profitability then follows: deliver-
ing greater value allows a company to charge higher
average unit prices; greater efficiency results in
lower average unit costs.
Ultimately, all differences between companies in
cost or price derive from the hundreds of activities
required to create, produce, sell, and deliver their
products or services, such as calling on customers,
assem ...
Six Mistakes Companies Are Making Today And How You Can Avoid ThemFindWhitePapers
"Look for additional opportunities to use business intelligence to uncover value and drive
improvements. Consider advanced planning tools that can help close the gap between
strategy and execution. Expand the use of sophisticated what-if analyses to model the
operational and financial impact of multiple scenarios on revenue, costs, and cash flow."
Join In The Race Or Be Left Behind: How ‘Change’ Is Changing The Competitive ...Accenture Insurance
While financial services firms have proven themselves capable of making small changes that increase effectiveness and better manage risk, in today’s competitive environment success hinges on a broader, multi-disciplinary transformation that affects the entire fabric of the industry. “Change fitness”—an organization’s ability to quickly and effectively drive all sorts of change—has become a core competency.
“Join In The Race Or Be Left Behind: How ‘Change’ Is Changing The Competitive Landscape In Financial Services” explains how data analytics can reveal strengths and weaknesses within a financial services firm that, when addressed effectively, can improve change fitness and help drive the kind of large scale change that will sustain competitiveness for the long term.
Gov Business Review : For more than one industry, the pandemic coexisted with and catalyzed societal shifts, galvanizing a method reset. In order to rethink how organizations will be on track, government leaders must tackle these six changes.
A New Approach to Application Portfolio Assessment for New-Age Business-Techn...Cognizant
SMAC technologies are propelling new business models, requiring an application portfolio assessment that considers the necessary capabilities and processes to enable effective digital business transformation.
Mastering Finance in Business
The role and impact of financial management on strategy, operations, and business performance
A Deloitte Research Global Manufacturing Study
Learn from the lessons from decades of real experience with real (and successful) BPM initiatives for taking BPM from promise to practice. This will be great primer for beginners and will provide new insight & fresh ideas for people with experience in BPM.
Enabling Strategy and Innovation: Achieving Optimized Outcomes from Planning ...FindWhitePapers
Read this study of Calearo Antennae Spa and Royal DSM, N.V., two companies that demonstrate how excellence in operations and a clear use of information technology can lead to sustained competitive advantage. (Louisiana State University)
Turn insurance sector digital disruption into a tangible opportunityGenpact Ltd
Our research shows that 67% of digital technology spend in the insurance sector was wasted in 2015. This year can be different. Turn digital disruption into a tangible opportunity.
Turn manufacturing sector digital disruption into a tangible opportunityGenpact Ltd
Our research shows 67% of digital technology spend in the manufacturing sector was wasted in 2015. This year can be different. Turn digital disruption into a tangible opportunity.
Turn life sciences industry digital disruption into a tangible opportunityGenpact Ltd
Our research shows 67% of digital technology spend in the life sciences industry was wasted in 2015. This year can be different. Turn digital disruption into a tangible opportunity.
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Our research shows that 67% of digital technology spend in high-tech industries was wasted in 2015. This year can be different. Turn digital disruption into a tangible opportunity.
Turn healthcare sector digital disruption into a tangible opportunityGenpact Ltd
Our research shows that 67% of digital technology spend in the healthcare sector was wasted in 2015. This year can be different. Turn digital disruption into a tangible opportunity.
Turn consumer goods industry digital disruption into a tangible opportunity Genpact Ltd
Our research shows that 67% of digital technology spend in the consumer goods industry was wasted in 2015. This year can be different. Turn digital disruption into a tangible opportunity.
Volatility and Adaptation Index 2015 ReportGenpact Ltd
Unprecedented economic volatility leads global companies to adapt, often through transformed business operations. Events like profit warnings, cost-cutting initiatives, M&A, change of senior leadership signal volatility, and necessitate adaptation measures. The Genpact Volatility and Adaptation Index (VAI) is a directional measure based on monitoring of large data sets across a sample of over 800 companies. It provides senior leaders with the intelligence to inform structural decisions and facilitate organizational alignment.
Commercial Banking and Capital Markets record the maximum increase in Volatil...Genpact Ltd
Commercial banking and capital markets were the areas which saw the maximum increase in volatility and adaptation according to Genpact latest three year study.
Sharpest rise in Volatility and Adaptation events in Life Sciences and Consum...Genpact Ltd
Life sciences and consumer goods were the sectors to see the sharpest change in volatility and adaptability according to the Volatility and Adaptation report from Genpact.
Highest levels of Volatility and Adaptation in Retail Banking in 2015Genpact Ltd
Retail Banking consumer goods and life sciences remained at the top in terms of Volatility and Adaptation according to Genpact’s latest three year study.
How to reimagine the customer experience with digitalGenpact Ltd
Transform multi-channel customer services with analytics, digital technologies and process re-engineering to improve the client experience and enable growth.
Empowering intelligent customer operations through Lean DigitalGenpact Ltd
Genpact's Lean Digital approach has the potential to transform multi-channel customers services and improve customer loyalty, reduce costs, increase cross-sell propensity and drive business agility.
The pitch includes content around general HR policies, Learning and Development initiatives, Integrity & Compliance over-view etc. It aims at providing a flavor of Life @Genpact to prospective Genpact employees which will further smoothen their transition to Genpact.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
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Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
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1. INTELLIGENT ENTERPRISE
Gianni Giacomelli
Senior Vice President and
Product Innovation Leader at Genpact
Innovation’sunsungheroin
volatiletimes:industrialized
businessoperations
Executive Summary
Extreme market volatility has prompted companies across industries to build more
effective business operations1
. Leading innovators such as Apple, Amazon, GE, HSBC,
and PayPal2
among others have addressed those challenges by harvesting the value of
information – at scale - and harnessing the art of the possible in their business operations.
This paper describes how product and business model innovation can be driven and
enabled by smart business process operations, be they transaction or decision support.
The evidence accumulated across hundreds of companies indicates that “industrialized
operations” – thanks to scientific decoupling and consolidation of part of business
processes run as an extended enterprise, utilizing data, metrics, as well as IT and HR
practices in innovative ways - constitute a material yet relatively untapped lever.
1
Business operations consist of the back and middle office that support multiple functions - finance, human resources, marketing, sales, R&D. Even supply
chain has a “white collar” support capacity embedded into it.
2
The Most Innovative Companies 2012 - The State of the Art in Leading Industries, a report by the Boston Consulting Group
We estimate that industrialization of operations can transform
up to 80% of back and middle office work as well rule-based
front office, 20-40% of judgment intensive work in marketing,
front office and distribution, and even 5-10% of typically
context driven functions such as R&D and general management.
In service type industries, these account for 80%+ of the
headcount, and even in others such as manufacturing and
infrastructure, the service-type functions often account for 40%
of the total, or more.
By enabling robust execution of transactions and data-to-insight
processing, and accommodating contraction or upswing and
changes of geographic footprint, industrialized operations scale
ideas beyond the stage of invention, and become the foundation
of material economic innovation. In doing so, they are becoming
a cornerstone of today’s enterprise operations strategy.
Examples range from the business model of a specialty insurer
that enables its hyper-growth scalability by focusing on the
front office; to the heavy-lifting of data behind the success of
aircraft engines’ advanced service contracts, or supporting the
commercial operations of pharmaceutical companies; to the
restructuring of support functions across regional centers of a
large conglomerate determined to capture the opportunity of
emerging markets; or the innovative collaboration practices –
part technology, part human resources optimization - surfacing in
2. companies that run operations across geographically dispersed
team. In a separate paper3
we discuss these examples in more
detail.
Industrialized operations enable access to new growth
opportunities, create resilience to hostile market or regulatory
conditions, and facilitate product and business model
innovation throughout the enterprise. They create the
foundation to enable innovation to accelerate faster after
every turn of the new, curvier circuit of volatile marketplaces.
Ramping up a typical large operation by 20% or setting robust
business infrastructure in a new country takes typically 12-24
months. Industrialized operations can often do it in half the
time. But laying the foundation requires more executive focus
on operations - areas where traditionally “no news is good
news”.
At the root of this epochal shift driven by innovative human
resources and technology practices lies the unsung hero of
innovation: innovative business processes. We hence believe it
is time for innovation and business operations to appear more
often in the same sentence for CEOs, and process innovation
agenda to be elevated to where it is needed most - the
boardroom. Strategically embracing the art of the possible is
first and foremost a challenge for CEOs and their teams – not
just for operations’ and middle management.
By enabling robust execution of transactions
and data-to-insight processing, and
accommodating contraction or upswing
and changes of geographic footprint,
industrialized operations scale ideas beyond
the stage of invention
3
Innovation and operational excellence - an industry-specific view by Gianni Giacomelli.
4
The adaptive roadmap in uncertain times - a whitepaper by Arvinder “Monty” Singh, SVP Sales, Marketing & Re-engineering at Genpact.
Innovationvs.operationalexcellence:
beyondoldtrade-offs
Innovation traditionally tops the “CEO’s priority list” in most
business surveys. But the world has changed: extreme volatility
makes demand and supply fluctuate and unpredictable, which
– due to the relatively rigid cost structures and slow decision-
making practices of many enterprises - introduces significant
“noise” in enterprises’ earnings, and destroys company value.
Industries like automotive, CPG, retail and air travel have seen
many hundreds of basis points disappear at relatively short
notice.
To counter these conditions, and beyond obvious cost and
asset cuts, enterprises are now trying to build agility into their
business model in an attempt to keep the innovation spark
needed for differentiation and growth. In a previous paper4
,
we argued that adaptability cannot be achieved without next-
generation operations excellence. A recent survey from The
Conference Board confirms that while hard-nosed operational
excellence is the #2 focus areas for CEOs in 2013, innovation
slipped to #3 except in high-growth countries (human
resources is #1).
Excelling at both operational excellence and innovation at the
same time, when growth is slow, seems hard and part of the
typical dilemma of “growth vs. margin” that many CXOs face.
However, the two are inextricably linked. Successful adaptation to
volatile conditions is nothing but innovation executed seamlessly
in the middle of the storm, at scale. Scale separates innovation
from invention and, together with the flexibility required in
these times, can only be achieved with superior business process
operations: from demand forecasting to sourcing analytics, from
inventory optimization to production planning, from origination
to underwriting support, from customer interaction to sales
operations to support and maintenance, from financial reporting
to forecasting. For all these functions - slow, inconsistent
execution isn’t an option in the face of extreme volatility.
Supporting innovative, not yet fully fledged endeavors is even
more complicated, but nonetheless necessary.
Superior metrics
management
Analytics
driven
processes
Effectiveness
Efficiency
Cost
Specialized
organization
design and
HR practices
Focused technology
Industrialized operations – specialized & advanced
process, people and technology practices
Successful adaptation to volatile conditions
is nothing but innovation executed
seamlessly in the middle of the storm, at scale
Consider the effect on the following activities – which can turn
into an enabler, or a minefield for innovation. From supporting
customer interaction to optimizing the supply chain or capital
allocation, to reporting to stakeholders and shareholders, from
the most mundane master data entry to the most insightful
pricing algorithm, the best operations leaders harvest the value of
information - at scale – by embedding analytics in their processes.
This is how operating leaders are redefining the concept of “end
to end” process by orchestrating the flow of information, goods
and money across their value chains – including their suppliers,
partners, and even clients. They embed technology to support
the work of humans. They design organizations that scale and
3. 5
Scuttling Scut Work in Fast Company, February1, 2008
6
The world’s Most Innovative Companies Forbes Magazine September 2012
perform, and implement specialized HR practices capable of
leveraging global labor. Importantly, they typically understand
very well the metrics determining key business outcomes – and
manage the drivers that influence them.
Industrializedoperationsinaction:
examplesofinnovationatscale
Industries are being reshaped by great operations enabling
innovation amidst volatility: for instance, data-driven, innovative
operations of online retailing have propelled its share to close
to 10% in the US alone: 150 billion USD that weren’t there at
the turn of the century, and that have barely felt (perhaps even
benefited from) the impact of the recent large recession.
Like the companies mentioned earlier in this paper, those
who harness operations to enable innovation become
comparatively stronger as volatility persists, like a racing car
driver that keeps fine-tuning his car and driving skills after every
curve in meandering mountain circuits, becomes increasingly
faster than those who continue to drive a vehicle conceived for
straight roads.
Strong innovation through operations isn’t
only for a few über-creative firms
Global innovators are already using
operations to shape the customer experience
and harness fragmented and global supply
chains
the case of Pfizer when the company created a “support factory”
group in 2009 that centralized such tasks and used both internal
and third party resources5
.
There are common patterns across industries – for instance,
following the example of financial services, pharmaceutical
companies’ over-the-counter organizations’ commercial
operations increasingly take a cue from the world of retail
and CPG. Across industries, front-end B2C operations support
is being shaped by internet’s data intensity and by “new
consumers” – be they in emerging or developed economies.
Social media operations now wade through noise and deliver key
signals to marketing and sales, across consumer-facing industries.
And customer contact operations across industries show an
increasingly sophisticated use of the same net-promoter-score
enhancement techniques that require a robust amount of data
processing.
Businessoperationslearninnovation,
innovatorslearnoperations
While the theory and examples may be enticing, the execution
of such a vision isn’t easy. Business process operations don’t
have the reputation for being innovative. After all, an R&D
or manufacturing process can make a company innovative,
but can a sales and marketing support process do the same?
Do operations leaders’ résumés show the innovator’s DNA?
Additional evidence seems to come from a recent Forbes’
analysis6
- while business process operations are the lifeblood of
service companies, almost no service company makes it to the
top 100 innovators’ list. Can we rely on the business operations
organization to ensure operational solidity and at the same time
feed the innovation machinery?
Operations’ models have largely been designed in less-volatile
times, and optimized for scale, not for agility. Since a 10X volume
obtained by consolidation can often drive business operations’
cost per unit down 50%, cost per transaction at scale has
traditionally been the most important metric. However, the
stable-volume and relatively stable geographic footprint are not
realistic conditions anymore. Additionally, the type of information
and communication technologies available in the past (mostly
ERPs and workflows) may have created inflexible structures: for
many CIOs, 50-70% of the budget goes into maintaining the
current infrastructure and applications. Their very significant
investment also leaves much outside of their scope and in a
state of “informality” that requires expertise and is difficult to
document, transfer to others, or move from under the current
roof. These design principles have left many organizations with
operations organizations that are often costly and not able to
adapt to new conditions – let alone drive innovation.
To unlock this stalemate, operations groups need to embrace
innovation practices inspired from and connected to product
management. They need to design for faster, more granularly
This evidence is becoming increasingly visible. Internet giant
Amazon’s seamless integration between customer-facing
analytics and supply chain intelligence has redefined retail and
defeated the challenges of razor-thin margins. Apple’s success
relies on the perfect customer experience, which is driven not
only by their products, but also by their services – from the Apple
store to traditional retail outlets, Apple’s flow of people, goods
and money is so seamless that it becomes invisible and makes the
interaction with the “Apple ecosystem” brilliantly differentiated.
But strong innovation through operations isn’t only for a few
über-creative firms. Long-time industrial giants such as GE are
increasingly optimizing the functioning of their assets in the
field with advanced analytics, churned out of industrialized data
operations, and creating additional value for their clients in
the process. The most sophisticated achievements include the
creation of new business models where the asset can be sold on
a “per-active-hour” basis as opposed to asset plus maintenance
– thereby satisfying the limited risk appetite of some customers,
while providing good margins to the manufacturer in exchange
for an intelligent shift of the risk. All this happens while advanced
operations are enabling the push in emerging geographies,
through the creation of a sophisticated network of global shared
services and operating centers.
Innovation is also about enabling creative organizational design
that allows human resources to continue focusing on what drives
an edge, instead of becoming overloaded by decision-support
tasks in downturns when the company becomes leaner. Consider
4. executed reaction, at lower cost and asset intensity. These
criteria drive business model innovation, product innovation, and
obviously process innovation.
At the same time, product innovation groups can exploit
such process design inflection and use business operations
as a strategic weapon to compete in a data-rich environment
– and drive scalability. Fast, well executed data-to-insight
processing can inform products’ inherent service component
and boost effectiveness from client interaction to supply chain
decisions. However, this requires product managers to think
more holistically of a product, by including the non-physical
components related to service-type functions that influence
directly or indirectly the customer’s delight such as after-market
services.
Thethreepillarsofinnovation-oriented
operations
The journey for operations and innovation to become really
synergistic requires a maturation of practices – specifically those
around the areas of human resources, technology, and process.
These three factors continue to ruthlessly reshape operations and
provide an opportunity to drive innovation by outmaneuvering
competitors: talent imbalances, technology, and process advances
are changing the art of the possible and making industrialized
enterprise operations a future-ready alternative for a range of
support processes.
Talent imbalances – the mismatch between the demand
and supply of specific skills in particular locations - are already
profoundly influencing the ability to run businesses cost-
effectively: from accounting to parts of engineering design to
analytics support, the availability of the right resources varies
wildly. High skilled data scientists are in short supply (McKinsey’s
Research Institute forecasts a shortage of 140,000 – 190,000
per annum, in the US alone) and the hunt for them knows
no geographic boundary anymore. At the same time many
transactional back office workers are in excess, and displaced
by technology and the availability of global, cost effective labor
pools. The redeployment of excess resources and the up skilling
of new ones are stimulating innovative process reengineering and
human resources programs.
Technology has provided numerous avenues for collaboration
of increasingly large, increasingly dispersed individuals – within
and outside of the enterprise. Less invasive than in the previous
ERP wave, new technologies are being increasingly adopted at
scale and will trigger operations’ rejuvenation. A process-oriented
fusion of communication, social, mobile technology, often cloud-
based, can become a power enabler of new ways of operating
Product innovation groups can use business
operations strategically to compete in a
data-rich environment
– triggering the emergence of so-called unified collaboration
environments that will complement the existing, more rigid and
prescriptive ERP and legacy workflows.
Finally, partially driven by the two previous trends, sophisticated
process operations practices have emerged in Global Business
Services (GBS) – large, global shared organization typically
servicing multiple functions’ support needs. The scope of
their intervention supporting innovation needs to be carefully
optimized: typically, they will start by taking over self-contained,
repeatable and high-volume tasks such as data transformation or
basic client support. Once these design choices are implemented,
these modern operations also turn the rampant talent gaps into
an opportunity to harness talent globally, hence achieving access
to more cost-effective resources. As described in the chart, they
also use scale, process optimization practices based on Six-Sigma
and Lean, and metrics more rigorously than normal operations,
hence providing a cost-effective foundation to new product
launches, data-heavy analysis of micro-niches, or geographic
extension.
Crucially, the decoupling of these process’ subcomponents and
the creation of industrialized operations manned by a highly
educated, global workforce doesn’t have to result in functional
silos, as end-to-end process management is an increasingly
mature practice and allows the best GBS to operate like an
“extended enterprise”.
GBS’ adoption is rapidly spreading from traditional finance
and accounting transactional processing to more sophisticated
financial modeling support; from indirect procurement assistance
to supply chain analytics support; from contact center to data-
driven, multi-channel support; from client application processing
to Know-Your-Customer and Anti Money Laundering operations.
This is the foundation for innovation at scale through those
functions.
Synchronous/asynchronous
people collaboration on
top of workflows
Modeling, execution and
monitoring of process
flows for “peripheral”
scope
Backbone for core
processes
GBS Client/Business
SAP, Oracle, etc.
Adding the missing layer in enterprises’ flow of work
ImplementDesignSimulate
5. Conclusion:themissingingredient
forvolatility-proofinnovationisyour
businessoperations’managementteam
In this paper, we have articulated why senior executives
must look at operations’ process excellence as an engine
for significant product and business model innovation in
times of volatility. Global business process operations will be
asked to play an increasingly important role in the future of
enterprises’ competitiveness. They will not solely be a cost
effective foundation: they will need to support the quest for
new opportunities, be they emerging or local, as well as adjust
to an ever-changing market and constantly evolving regulatory
conditions. The transformation will require operations to pay
close attention to talent, technology, and process management.
Innovative operations can be a powerful foundation for making
each step of the process chain nimble and effective. Hundreds
of basis points can be recaptured, and speed to scale often
halved, by intelligently leveraging them. Organizations that are
ready to embrace change within global operations can boost
their agility and cost effectiveness. As a result, the role of such
COO and head of service delivery – or in many cases the CFO,
as the pioneer in using shared services operations - will become
increasingly strategic.
Industrialized operations enable innovation
Operations cost levers
Associate comp.
Bench
Direct supervision +
support
Recruitment, training
Rentals, other OPEX,
depreciation
Apps, network and
telecom
G&A - personnel
Travel, staff welfare,
meetings
.....
Innovation constraints “Industrial” practices, metrics
Finding and training right-skilled,
right-cost staff across lines of
business and country orgs, fast
Attrition at small scale is disruptive
Disproportionately heavy
supervision due to small scale,
immature processes
Significant waste and rework due
to low process engineering rigor‟
Experience/ tenure mix
Entry level comp arbitrage
Industrialized training
Pooling and proactive worker
attrition management
Span of control (across supervision
levels)
Six-Sigma process design
Scale enabling accommodating
new capacity fast, precisely
Superior use of scale
Specialized collaboration
technologies
Sharing costs across operation
Standardized and enforced
approval policy and compliance
Slow set up
“Lumpy” capacity
Fragmented collaboration, data
technologies
High G&A % due to low scale
Fragmented policies
To succeed will however also require cross functional and
innovation skills, as industrialized operations aren’t old-style “no-
news-is-good-news” G&A. They are scaled-up business process
engines that drive heavy-lifting analysis of sales, marketing,
and supply chain data; embed it granularly and effectively into
sales execution, customer interaction, inventory, production and
sourcing transactions; all the while ensuring that exploiting new
markets or introducing new products don’t generate undue
compliance or earnings risks. The result could be enterprises’
value chains ability to capture demand cost-effectively wherever it
is, whether in profitable micro-segments of developed economies
or in large-scale emerging markets. At the same time, such
enterprises can also respond to top line fluctuations by reducing
the cost of goods sold, SG&A, and asset intensity.
These are the characteristics of companies able to prosper in
the new normal of volatility and will define, we believe, a new
archetype for innovative, intelligent enterprises.