The document discusses operational excellence consulting and provides insights for better decision making. It discusses strategy management, project management, portfolio management, and detailed operations. Key aspects covered include selecting projects based on business cases, launching projects to achieve a desired future state, and leveraging strategic competitive advantages like patents.
Product Marketing: A Critical Role in the Marketing Value ChainTodd Ebert
How to align technical product management with product marketing and integrated marketing for maximum effectiveness. A framework from my 20+ years in B2B marketing at leading technology companies.
At its essence, creating a product strategy is building a sound hypothesis of how you’ll win in the market. In this presentation, I examine the core areas of product strategy (target customers, meeting their needs, unit economics and competition) and look at how to build a winning product strategy.
Product Marketing: A Critical Role in the Marketing Value ChainTodd Ebert
How to align technical product management with product marketing and integrated marketing for maximum effectiveness. A framework from my 20+ years in B2B marketing at leading technology companies.
At its essence, creating a product strategy is building a sound hypothesis of how you’ll win in the market. In this presentation, I examine the core areas of product strategy (target customers, meeting their needs, unit economics and competition) and look at how to build a winning product strategy.
This presentation describes the Business Modeling Starter Kit, an out-of-the-box workshop that helps entrepreneurs exploring viable business models for a new or existing business. It was created by Prof. Dr. Henning Breuer and his colleagues at the Telekom Innovation Laboratories in Berlin and revised, extended and translated by UXBerlin.
Build a Winning Solution Marketing StrategySteve Robins
Build a Winning Solution Marketing Strategy - ProductCamp Boston, May 22, 2010. Author: Steve Robins. More: www.SolutionMarketingBlog.com or www.SolutionMarketingStrategies.com.
Growing Revenue with Near-Zero Investment - GROWTH INNOVATIONInnomantra
Growing Revenue with Near-Zero Investment - GROWTH INNOVATION
In a tough business environment when demand
in the core market gets challenged, businesses should look at tapping adjacencies that leverage the organizations' foundational assets. Not only are these moves less risky, but they also do not call for many upfront investments.
A marketing strategy brief on how to build 4Ps of marketing including common tools used. It also discusses difference between Product Management and Product Marketing as well as a brief introduction of the career roles. It also includes how behavioral economics is shaping the Marketing tactics.
It briefly mentions strategies for each P of marketing and common tools used in corporate. The purpose is to reduce the difference between classroom curriculum based study and increase the familiarity of reader with common and contemporary tools used in practice.
In glossary, the major common used terms in practice are included to prepare reader for the corporate job.
Provides practical tips on how to prepare to enter the marketplace with your product. Relevant for all start-ups that are still in a development phase and contemplating the various pieces that need to be in place for product launch.
It’s important to understand the potential impact that a new disruptive technology might have on the marekt. The role of the Market Opportunity Analysis (MOA) is to help guide the process of better understanding of the most important market segments, how fast the opportuity is growing, what are the key sustainable differentiations and why are these important. Finally, the purpose of the MOA is to, on one hand, describe the key value propostions and to profile the most important use cases and how best to acquire customers.
We have prepared the following template which describes the MOA process and how outlines the factors for successfully growing market share. Our IRG MOA PowerPoint takes you through the key steps for learning about emerging market opportunities and using that learning to influence strategic decision making.
6/08/2018
BUS502 Entrepreneurship
Business Model and Value Proposition Canvas – Part 2
Week 4
Learning Objectives
To introduce the business model and value proposition canvases
To understand the different components of these canvases
To explore how these canvases can help with the business model development
To explore business models and value propositions of existing organisations
To utilise the canvases for the business development as part of assignment 2
What is a Value?
Before we look at the Value Proposition Canvas, let’s talk about values:
How do you define value?
What aspects of products or services do you value and in what way?
– Examples?
1
6/08/2018
The Elements of Value Pyramid
Products and services deliver fundamental elements of value that address four kinds of needs:
Functional
Emotional
Life changing
Social impact
https://hbr.org/2016/09/the-elements-of-value
The Elements of Value Pyramid
Extends Maslow’s ‘hierarchy of needs’
Does not accept on its face a consumer’s statement that a certain product attribute is important; instead explores what underlies that statement.
Companies can improve on the elements that form their core value, which will help set them apart from the competition and meet their customers’ needs better.
https://hbr.org/2016/09/the-elements-of-value
What do customers really value?
For example, when someone says her bank is “convenient,” its value derives from some combination of the functional elements saves time, avoids hassle, simplifies, and reduces effort.
https://hbr.org/2016/09/the-elements-of-value
1
6/08/2018
What do customers really value?
And when the owner of a $10,000 Leica talks about the quality of the product and the pictures it takes, an underlying lifechanging element is self- actualization, arising from the pride of owning a camera that famous photographers have used for a century.
https://hbr.org/2016/09/the-elements-of-value
What do customers really value?
The life-changing element motivation is at the core of Fitbit’s exercise-tracking products.
https://hbr.org/2016/09/the-elements-of-value
More Examples
https://chiefexecutive.net/30-elements-can-help-ceos-attain-product-nirvana/
1
6/08/2018
Further information
Bain & Company (the creator of the elements of value) http://www.bain.com/publications/business- insights/elements-of-value.aspx
http://www.bain.com/bainweb/media/interactive/el ements-of-value/
(interactive tool)
The B2B Elements of Value
… if you are focussing business- to-business
40 distinct elements of value
More value – greater loyalty
Interactive tool here: http://www.bain.com/bainweb/ media/interactive/b2b- eov/index.html
Both Elements of Value articles are on Learnline!
https://hbr.org/2018/03/the-b2b-elements-of-value
Value Proposition Canvas
The Value Proposition Canvas zooms into ...
This presentation describes the Business Modeling Starter Kit, an out-of-the-box workshop that helps entrepreneurs exploring viable business models for a new or existing business. It was created by Prof. Dr. Henning Breuer and his colleagues at the Telekom Innovation Laboratories in Berlin and revised, extended and translated by UXBerlin.
Build a Winning Solution Marketing StrategySteve Robins
Build a Winning Solution Marketing Strategy - ProductCamp Boston, May 22, 2010. Author: Steve Robins. More: www.SolutionMarketingBlog.com or www.SolutionMarketingStrategies.com.
Growing Revenue with Near-Zero Investment - GROWTH INNOVATIONInnomantra
Growing Revenue with Near-Zero Investment - GROWTH INNOVATION
In a tough business environment when demand
in the core market gets challenged, businesses should look at tapping adjacencies that leverage the organizations' foundational assets. Not only are these moves less risky, but they also do not call for many upfront investments.
A marketing strategy brief on how to build 4Ps of marketing including common tools used. It also discusses difference between Product Management and Product Marketing as well as a brief introduction of the career roles. It also includes how behavioral economics is shaping the Marketing tactics.
It briefly mentions strategies for each P of marketing and common tools used in corporate. The purpose is to reduce the difference between classroom curriculum based study and increase the familiarity of reader with common and contemporary tools used in practice.
In glossary, the major common used terms in practice are included to prepare reader for the corporate job.
Provides practical tips on how to prepare to enter the marketplace with your product. Relevant for all start-ups that are still in a development phase and contemplating the various pieces that need to be in place for product launch.
It’s important to understand the potential impact that a new disruptive technology might have on the marekt. The role of the Market Opportunity Analysis (MOA) is to help guide the process of better understanding of the most important market segments, how fast the opportuity is growing, what are the key sustainable differentiations and why are these important. Finally, the purpose of the MOA is to, on one hand, describe the key value propostions and to profile the most important use cases and how best to acquire customers.
We have prepared the following template which describes the MOA process and how outlines the factors for successfully growing market share. Our IRG MOA PowerPoint takes you through the key steps for learning about emerging market opportunities and using that learning to influence strategic decision making.
6/08/2018
BUS502 Entrepreneurship
Business Model and Value Proposition Canvas – Part 2
Week 4
Learning Objectives
To introduce the business model and value proposition canvases
To understand the different components of these canvases
To explore how these canvases can help with the business model development
To explore business models and value propositions of existing organisations
To utilise the canvases for the business development as part of assignment 2
What is a Value?
Before we look at the Value Proposition Canvas, let’s talk about values:
How do you define value?
What aspects of products or services do you value and in what way?
– Examples?
1
6/08/2018
The Elements of Value Pyramid
Products and services deliver fundamental elements of value that address four kinds of needs:
Functional
Emotional
Life changing
Social impact
https://hbr.org/2016/09/the-elements-of-value
The Elements of Value Pyramid
Extends Maslow’s ‘hierarchy of needs’
Does not accept on its face a consumer’s statement that a certain product attribute is important; instead explores what underlies that statement.
Companies can improve on the elements that form their core value, which will help set them apart from the competition and meet their customers’ needs better.
https://hbr.org/2016/09/the-elements-of-value
What do customers really value?
For example, when someone says her bank is “convenient,” its value derives from some combination of the functional elements saves time, avoids hassle, simplifies, and reduces effort.
https://hbr.org/2016/09/the-elements-of-value
1
6/08/2018
What do customers really value?
And when the owner of a $10,000 Leica talks about the quality of the product and the pictures it takes, an underlying lifechanging element is self- actualization, arising from the pride of owning a camera that famous photographers have used for a century.
https://hbr.org/2016/09/the-elements-of-value
What do customers really value?
The life-changing element motivation is at the core of Fitbit’s exercise-tracking products.
https://hbr.org/2016/09/the-elements-of-value
More Examples
https://chiefexecutive.net/30-elements-can-help-ceos-attain-product-nirvana/
1
6/08/2018
Further information
Bain & Company (the creator of the elements of value) http://www.bain.com/publications/business- insights/elements-of-value.aspx
http://www.bain.com/bainweb/media/interactive/el ements-of-value/
(interactive tool)
The B2B Elements of Value
… if you are focussing business- to-business
40 distinct elements of value
More value – greater loyalty
Interactive tool here: http://www.bain.com/bainweb/ media/interactive/b2b- eov/index.html
Both Elements of Value articles are on Learnline!
https://hbr.org/2018/03/the-b2b-elements-of-value
Value Proposition Canvas
The Value Proposition Canvas zooms into ...
FREE MANAGEMENT CONSULTING COURSE on www.oeconsulting.be
Operational Excellence Consulting
What is Strategy Management ?
Strategy is to prepare systematically plans for the future in order to interact to new emerging trends and changes in the wider scope of the company with special attention to avoid rigidity, because the past is not equal to the future.
“Wide scope of the company” : Companies are open systems : input side for resource seeking and output side for market seeking (system dynamics!)
“Avoid rigidity” : New events, new knowledge makes that the original strategy is no longer up to date
In general, strategy arises incrementally: “What are realistic objectives with current characteristics of the context and future trends?”
Predictability is key for making strategic plans and investment decisions in the long run. Planning, with hard data and soft data (tacit knowledge), is easier in stable environment. However in the long run a small change in wide scope of the company could escalate dramatically due to system dynamics.
Besides predictability, there is also legacy: most big companies have legacy to carry on while small companies (e.g. Fintech) start from a clean sheet and are flexible, focused, motivated and can “do more with less”.
For building and accumulating a “strategic competitive advantage (SCA)” a consistent flow of investment is needed in order to obtain desired level of accumulation.
A “strategic competitive advantage (SCA)” can be a patent (intellectual property), a customer install base, a certain image or branding in the mind of the customers, a new disruptive or innovative technology, … and is the result of a strategic decision in investing a consistent flow and stock.
Stock – flow diagram : “Success breeds success”
For example: (1) a consistent investment in R&D will give a bigger stock of knowledge/competence than the double investment in half of the time. So speeding up the investments will not give the same stock at a certain moment. (2) a consistent investment in advertising will give a bigger stock of reputation/image/branding than the double investment in half of the time.
Business Model Canvas: Developing and Testing the Business ConceptTim R. Holcomb, Ph.D.
"Business Model Canvas: Developing and Testing the Business Concept" provides an overview of value creation and value capture concepts and introduces the basic framework of Ash Maurya's Lean Business Model Canvas template.
Support presentation to the SPIN-UP Training Programme on Entrepreneurial Skills for University Spin-Offs.
SPIN-UP is a cooperation project supported by the European Commission that aims to create an Entrepreneurship Training and Coaching Programme that contributes to the development of Key Entrepreneurial Skills, both technical and behavioural, essential to enable and leverage University Spin-Offs growth.
Download and have access to other training materials in www.spin-up.eu
System thinking : You will see it when you realize itHocein
FREE MANAGEMENT CONSULTING COURSE on www.oeconsulting.be
Operational Excellence Consulting
Business fundamentals
1. System thinking p. 3
2. Strategy management p. 23
3. Product management p. 48
4. Project management p. 61
5. Guide - Six Sigma, Pareto, Lean, Agile p. 86
Insights for better decision-making
1. Personal growth & leadership p. 98
2. Getting things done p. 122
3. Decision Making p. 147
Personal leadership - Lean startup, funding, business plan, new jobHocein
FREE MANAGEMENT CONSULTING COURSE on www.oeconsulting.be
Tips for starting a business :
1. The “Does it matter?”-Test
Trust your emotions.
Know that a problem can suddenly become an opportunity to start from scratch without a legacy to carry on. A project has to meet specific needs or create something compelling, like a feature that sparks an emotion that you want to see.
2. Make a little, Try a Little and Sell a Little
Avoid getting too much money too soon.
3. Selling Your project & Yourself
4. Community organizing
Identifying the people around you with whom you can create a common, passionate cause
5. Executing your project
Think of execution as a series of rapid prototypes. Great projects get instant feedback and do instant adjustment cycles. The more iterations you can rapidly go through, the faster you can execute your project.
Starting your own business with “Lean start-up” :
Lean startup is a methodology for developing businesses and products, which aims to shorten product development cycles and rapidly discover if a proposed business model is viable, because the primary objective is to have a safe cash flow which then can be invested in risky developments.
Central to the lean startup methodology is the assumption that when startup companies invest their time into iteratively building products or services to meet the needs of early customers, the company can reduce market risks like creating a complete product that doesn’t appeal to the customers or like creating a lot of features that are not used or required by the customers. So the advantage is that there is no need for large amounts of initial project funding and expensive product launches and failures. This is done with two techniques :
A minimum viable product “MVP” (similar to a pilot experiment) is the version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort
A split or A/B test is an experiment in which different versions of a product are offered to customers at the same time. The goal of a split test is to observe differences in behavior between the two groups and to measure the impact of each version on an actionable metric.
Customer feedback during the development of products or services is integral to the lean startup process, and ensures that the company does not invest time designing features or services that consumers do not want. Customer feedback is measured through two processes, using key performance indicators and a continuous deployment process.
A new way of funding your project is crowdfunding : Collect small amounts at a large public via the internet for your project
Time management for projects, tasks and to do'sHocein
FREE MANAGEMENT CONSULTING COURSE on www.oeconsulting.be
Coping with stress :
Setting priorities in our lives : self-awareness and personal leadership to “make best of things”
Our emotions and those of the others : each of us has the right to feel what he or she feels
Interpretation of the situation : thinking errors
Worst case scenario “people are sacked” “people won’t find a job” …
Mental models: each person has a different world view
Fear to fail : not predictable or unknown what happens next no confidence or no trust not able to take that risk
Urge to be accepted
Urge to be perfect
Generalize opinions or world views
Blame others (Calimero effect)
Focus on the missing instead of the present
Breathing and relaxation (yoga, tai chi, massages, …)
Healthy food : Slow sugars, vegetables and fruits, meat and fish
Are you really hungry? Or are you nervous, sad or angry?
Sleeping
Tip :
Relaxation: an activity of several hours dedicated where you are committed and forget the sense of time
“What would you prefer to do on a free evening?”
Plan something and have something to look forward to.
Tips for turning problems into opportunities:
Put the responsibilities to those who are responsible : what is needed to do ?
Setting priorities for letting go of your concerns
Find a enjoyable hobby, sports, outdoors, … for distraction
Communicate instead of worrying
Take initiative instead of complaining
Being assertive in a friendly way instead of avoiding stress situations
New start instead of struggling (what happened is past)
Solution is to put the situation into perspective and to be more confident on the outcome :
Challenge your conclusion
Ask yourself 3 times why it is like this
What do you learn from this situation (positive consequences and negative consequences)
FREE MANAGEMENT CONSULTING COURSE on www.oeconsulting.be
Decision-making
How ?
Multiple-criteria decision technique is an evaluation method in order to make rationally a choice between several alternatives on the basis of more than 1 criteria. The steps are :
List of alternatives or choices
List of important criteria required for your decision
Give a score (e.g. on 10) on each criteria for each alternative
Give a % weight to each criteria if one criteria is more important than the other (sum of criteria weight is 100%)
Multiply each score with its weight and sum up to have the total for each alternative
Rank all alternatives from high to low
Tip :
A bad result does not automatically indicate a bad decision, or vice versa (maybe external factors!)
We rely too often on emotions instead of research (but remember plain things, plain decision!)
Having an influence on decision making, don’t be easily convinced for :
Nice plausible stories that are told :
Reject the easy and obvious answers that someone comes up with. Not everything that seems plausible is true. Don’t judge outcomes without looking at underlying forces : sometimes what is presented as the root cause, is actually the consequence and vice versa. E.g. beautiful women advertising for cosmetics
We don’t detect what is absent – we see the success but what about the ‘hidden’ failures? Often success is attributed to ability, while failure is caused by external factors.
Big contrasts compromises our judgement:
Big contrasts between things can be misleading : We judge something if we have something completely the opposite in front of us. We have difficulty with absolute judgments. We don’t notice small gradual changes.
When a single aspect dazzles us, it affects how we see the whole picture. E.g. a single quality that produces a positive or negative impression and that outshines everything which make the overall effect disproportionate.
We see what we want to see:
People choose numbers for a lottery thinking it makes a difference or people throw dice harder thinking it makes a difference for a high number. We identify or just invent a pattern and ‘believe in it’ without considering it first as pure chance.
We interpret new information so that our prior conclusions remain intact. E.g. reading opinions on the internet, illusion of “no pain no gain” where there is no concrete result,…
Management Consulting - Decision Making & Thinking errorsHocein
FREE MANAGEMENT CONSULTING COURSE on www.oeconsulting.be
Decision-making
How ?
Multiple-criteria decision technique is an evaluation method in order to make rationally a choice between several alternatives on the basis of more than 1 criteria. The steps are :
List of alternatives or choices
List of important criteria required for your decision
Give a score (e.g. on 10) on each criteria for each alternative
Give a % weight to each criteria if one criteria is more important than the other (sum of criteria weight is 100%)
Multiply each score with its weight and sum up to have the total for each alternative
Rank all alternatives from high to low
Tip :
A bad result does not automatically indicate a bad decision, or vice versa (maybe external factors!)
We rely too often on emotions instead of research (but remember plain things, plain decision!)
Having an influence on decision making, don’t be easily convinced for :
Nice plausible stories that are told :
Reject the easy and obvious answers that someone comes up with. Not everything that seems plausible is true. Don’t judge outcomes without looking at underlying forces : sometimes what is presented as the root cause, is actually the consequence and vice versa. E.g. beautiful women advertising for cosmetics
We don’t detect what is absent – we see the success but what about the ‘hidden’ failures? Often success is attributed to ability, while failure is caused by external factors.
Management Consulting - Getting things done (Task management)Hocein
FREE MANAGEMENT CONSULTING COURSE on www.oeconsulting.be
Coping with stress :
Setting priorities in our lives : self-awareness and personal leadership to “make best of things”
Our emotions and those of the others : each of us has the right to feel what he or she feels
Interpretation of the situation : thinking errors
Worst case scenario “people are sacked” “people won’t find a job” …
Mental models: each person has a different world view
Fear to fail : not predictable or unknown what happens next no confidence or no trust not able to take that risk
Urge to be accepted
Urge to be perfect
Generalize opinions or world views
Blame others (Calimero effect)
Focus on the missing instead of the present
Breathing and relaxation (yoga, tai chi, massages, …)
Healthy food : Slow sugars, vegetables and fruits, meat and fish
Are you really hungry? Or are you nervous, sad or angry?
Sleeping
Tip :
Relaxation: an activity of several hours dedicated where you are committed and forget the sense of time
“What would you prefer to do on a free evening?”
Plan something and have something to look forward to.
Tips for turning problems into opportunities:
Put the responsibilities to those who are responsible : what is needed to do ?
Setting priorities for letting go of your concerns
Find a enjoyable hobby, sports, outdoors, … for distraction
Communicate instead of worrying
Take initiative instead of complaining
Being assertive in a friendly way instead of avoiding stress situations
New start instead of struggling (what happened is past)
Solution is to put the situation into perspective and to be more confident on the outcome :
Challenge your conclusion
Ask yourself 3 times why it is like this
What do you learn from this situation (positive consequences and negative consequences)
Management Consulting - Personal Growth & LeadershipHocein
FREE MANAGEMENT CONSULTING COURSE on www.oeconsulting.be
Operational Excellence Consulting
Tips for starting a business :
1. The “Does it matter?”-Test
Trust your emotions.
Know that a problem can suddenly become an opportunity to start from scratch without a legacy to carry on. A project has to meet specific needs or create something compelling, like a feature that sparks an emotion that you want to see.
2. Make a little, Try a Little and Sell a Little
Avoid getting too much money too soon.
3. Selling Your project & Yourself
4. Community organizing
Identifying the people around you with whom you can create a common, passionate cause
5. Executing your project
Think of execution as a series of rapid prototypes. Great projects get instant feedback and do instant adjustment cycles. The more iterations you can rapidly go through, the faster you can execute your project.
Starting your own business with “Lean start-up” :
Lean startup is a methodology for developing businesses and products, which aims to shorten product development cycles and rapidly discover if a proposed business model is viable, because the primary objective is to have a safe cash flow which then can be invested in risky developments.
Central to the lean startup methodology is the assumption that when startup companies invest their time into iteratively building products or services to meet the needs of early customers, the company can reduce market risks like creating a complete product that doesn’t appeal to the customers or like creating a lot of features that are not used or required by the customers. So the advantage is that there is no need for large amounts of initial project funding and expensive product launches and failures. This is done with two techniques :
A minimum viable product “MVP” (similar to a pilot experiment) is the version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort
A split or A/B test is an experiment in which different versions of a product are offered to customers at the same time. The goal of a split test is to observe differences in behavior between the two groups and to measure the impact of each version on an actionable metric.
Customer feedback during the development of products or services is integral to the lean startup process, and ensures that the company does not invest time designing features or services that consumers do not want. Customer feedback is measured through two processes, using key performance indicators and a continuous deployment process.
FREE MANAGEMENT CONSULTING COURSE on www.oeconsulting.be
Operational Excellence Consulting
Project management
A Project is a temporary attempt undertaken to create, adapt or stop a unique product or service. There is a clear definition of what needs to be delivered. It has a start and an end, it is temporary, and it is resulting in something unique and is outside of normal operations.
A project life cycle is a collection of generally sequential and sometimes overlapping project phases.
Feasibility study of the project
Budget Range and estimations
High level planning
High level scope
High level requirements
Start of project management :
Project management plan is the project baseline (budget baseline, scope baseline, schedule baseline). Progress will be measured against the baseline (are we on track ? time? budget?).
Quality assurance on budget, scheduling/timing, governance, risks, reporting, communication, resources, documents, outsourcing, change
If it is not a one-time project, then the procedure must be standardized.
Performance indicators
Lessons learned
Steps for the project manager:
Understanding the context. What is the strategy behind this project. What is the need or business problem/issue? What are the objectives and the success criteria of the project? When can we say that we have reached our goal ? What is the relation between the objectives and the means at your disposal (what is needed to do the project and what is the action plan to develop the missing skills or knowledge) ? What is the level of hostility of the environment?
Setting up logs of the business problem/issue to measure the problem
Defining the scope by gathering data via interviews or brainstorming
Define a project plan with phases (1) analysis phase of current situation “as-is”, (2) proposed solutions phase for the “to-be” situation, (3) implementation phase, and with room for uncertainties (contingency)
Setting up early warning systems (KPI)
What are the risks ? What is the action plan against it? Risk is a feared event that is not predictable. Every risk has a level of probability and a level of impact.
Carrying out the project : making the deliverables (e.g. coding, development, definition of parameters, interface, documentations, testing, prototype, end to end test), communication of it and provide feedback to client.
Project closing: handover, presentation, training.
Problem solving techniques :
Understand the business situation and make a list of the issues with the current situation in well defined activities (organizational issues, cultural issues, personal issues) “as is situation”
Define the most feasible solution or the requirements for the solution “to be situation”
Requirements describe how to develop and specify pieces of work in enough detail to allow them to be successfully implemented by a project team (work breakdown structure)
Management Consulting Method - System thinking & System DynamicsHocein
FREE MANAGEMENT CONSULTING COURSE on www.oeconsulting.be
The “old problem solving method” suggest that for each visible problem, we can take action against it. This is however not always the case. A company is like a system where different departments are interconnected and depend on each other. A solution or an intervention in one department has also a side effect on another department. The lack of system thinking is the reason why companies keep facing recurrent problems without tackling the root cause of it.
Old problem solving method would look like this :
However what actually happens is …
Suddenly, due to special conditions in order to attract new clients, the quality of services was low which makes that our initial action of more clients has lost its effect due to system dynamics.
Undesired side effects arise from our solutions (or intervention) in the system, due to the fact that different elements are linked and depend on each other (underlying forces and interactions), the outcome from our action is different from what we expected.
In order to stop the drug problem, the government introduces a strict policy of repression, because this will solve the problem for once and for all.
However what actually happens is …
Suddenly, drug prices increases, leading to more supply of drugs, also due to the high price, the crime is increasing which makes that the initial solution (or action) of strict policy of repression has lost its effect due to system dynamics.
Undesired side effects arise from our actions in the system, due to underlying forces, the outcome is different from what we expected.
Case example of how it should be done : Work safety
By keep bringing ‘work safety’ as a subject of matter :
Benefits of understanding system dynamics :
Theory of the mental model = “our eyeglasses through which we see the world” :
Short term vs long run dilemmas : (where benefits of the short term is chosen instead of long run)
System thinking is the analysis of the ‘hidden structures’ :
•E.g. if a team is rewarded for their great performance, tensions arise with other teams within the same organisation that will feel less motivated.
•Be skeptical and question the patterns that you have in your ‘mental model’
•Ask questions like : Who benefits ? What are the incentives ? What are the conflict of interests (subconscious interest) ?
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
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.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
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.
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.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
Website Link :
https://skyeresidences.com/
https://skyeresidences.com/about-us/
https://skyeresidences.com/gallery/
https://skyeresidences.com/rooms/
https://skyeresidences.com/near-by-attractions/
https://skyeresidences.com/commute/
https://skyeresidences.com/contact/
https://skyeresidences.com/queen-suite-with-sofa-bed/
https://skyeresidences.com/queen-suite-with-sofa-bed-and-balcony/
https://skyeresidences.com/queen-suite-with-sofa-bed-accessible/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-king-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed-accessible/
#Skye Residences Etobicoke, #Skye Residences Near Toronto Airport, #Skye Residences Toronto, #Skye Hotel Toronto, #Skye Hotel Near Toronto Airport, #Hotel Near Toronto Airport, #Near Toronto Airport Accommodation, #Suites Near Toronto Airport, #Etobicoke Suites Near Airport, #Hotel Near Toronto Pearson International Airport, #Toronto Airport Suite Rentals, #Pearson Airport Hotel Suites
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
2. Resources
Vision
Mission
Strategy
Organization
Business
Products/Services
Portfolio
management
Strategy Management
ProjectsDetailed operations
=> generates value
Project
management
Operations
Function Role
E.g. innovation (new service/product/market)
Projects
Selection of projects is based on benefits of the
‘Business Case’ (quality, performance, status,. ..)
Project are launched from a current situation ‘AS-IS’
in order to obtain a desired future situation ‘TO-BE’
Strategic competitive advantage (SCA): patent,
install base, image/branding, disruptive/innovative
technology, …
Selection
Product management
3. Resources
Vision
Mission
Strategy
Portfolio
management
Strategy Management
Detailed operations
=> generates value
Project
management
Function Role
E.g. innovation (new service/product/market)
Projects
Strategic competitive advantage (SCA): patent, install
base, image/branding, disruptive/innovative technology,
…
Organization
Business
Products/Services
Project are launched from a current situation ‘AS-IS’
in order to obtain a desired future situation ‘TO-BE’
Operations
Portfolio
management
ProjectsProject
management
Role
E.g. innovation (new service/product/market)
Selection of projects is based on benefits of the
‘Business Case’ (quality, performance, status,. ..)Selection
4. Strategic Marketing : Advertising is a strategic investment. Continuity of advertising is key.
– Stock-Flow diagram :
How ?
1. Attract consumers from top market leaders and develop them into your loyal customers.
2. Client relation marketing in order to become the best structural partner of the client.
However the top 20 % best clients are not always the most loyal clients (perhaps they are also
big clients at competition as well).
3. Positioning of the product/service happens in the “mind” of the consumer.
4. Differentiation strategy of the product/service (that is perceived as “unique” by the consumer)
by making certain “associations” of the product/service
Those associations that are made in the “mind” of the consumer, are appealing to deeper motifs of
the consumer : For example certain social objectives (like getting in touch with other people), a
certain self-image (like a luxury lifestyle), certain values (like healthy or environmental issues) ,…
Inflow Stock Outflow
great
time
lag
great
time
lag
Inflow or
investment
are
immediately
adjustable
Cumulative
result of the
inflow.
Outflow or
depreciati
on of
knowledge
5. Voice of Customer identify client’s needs : reactive via complaints or proactive via
benchmarking
What is the perception of the product/service by the customer. For each feature ask the customer
2 questions :
–How would they feel if a feature (or association) “Was present”
–How would they feel if a feature (or association) “Was Not present”
4. Market segmentation:
– Consumers group that generates high profits (at the introduction phase of the life-cycle)
– Consumers group that are committed on the long run (at the growth phase of the life-cycle)
– Consumers group that have low switching costs (=low stickiness) and easily change their
buying habit (at the maturity phase of the life-cycle)
– Consumers group that have influence on others (at the decline phase of the life-cycle)
Pleasing
function (A)
………………..
…………………
Expressed
desire (B)
………………...
…………………
Underlying
desire (C)
………………...
…………………
6. Market segmentation into “groups of consumers” :
– Based per characteristics of the consumer or the lifestyle of the consumer
– Based per characteristics of the product/service
Marketing mix “the 4 P’s”
Product/Service
• Characteristics of product/service
• Quality : performance, features for
intended use, reliability (no defect),
conformity (standardized),
sustainability, user support,
aesthetics, perception)
• Product range : different features for
each product-life cycle phases
• Growth phase: new products
needed to accelerate acceptance
Price
• Cost-plus pricing
• Consumer-demand based pricing
via price sensitivity analysis or
conjoint analysis: per segment, per
time, per location
• Competition based pricing : higher
price if “content” is different
Promotion
• Communication
• Advertisement needed to accelerate
acceptance
• AIDA : attention, interest, desire,
action
• Social media / influence
Place
• Location advantage
• Distributor
7. How ?
Positioning of product/service happens versus (1) other market segments and versus (2) other
competitors within the same segment.
Positioning is done by cluster analysis with 2 axis : “perception by appearance” versus “segment of
characteristics of the product/service”
Re-positioning is needed when there is a “subjective brand image”. Objective is then to change
this “belief” of the consumer.
perception by
appearance
segment of characteristics
of the product/service
8. How to get the maximum from a customer ?
– “Acquisition” of a customer ask existing costumers to “recommend a friend”
Also, software like “Salesforce” or advertising “from communication to conversation” : “paid
advertising” is towards strangers, “owned advertising” is with customers and “earned advertising”
is with fans or ambassadors
– “Satisfaction” and “retention” of a customer maximize by asking to use a loyalty card
Also deliver additional services or deliver a product/service that answer the customers’ needs
– 100 % “Share of Wallet” a customer is completely loyal to a business and does not spend
any € with any competition brand
“people also bought these related products”
Upselling : Induce customer to purchase more expensive items, upgrades, or other add-ons in an
attempt to make a more profitable sale. Can also be simply exposing the customer to other
options that were perhaps not considered previously.
Cross selling : related products or additional complement products
Segment Migration : e.g. retail product to professional product
Product bundling
Cannibalization
9. – Win Back a customer “How can I win my ex-customer back”
Maximize by “promotion or reduction” when customer comes back
– Unhappy customer “Understand why I loose customer and try to control this flow”
– Missed opportunities “Why does some customer prefer my competitors?”
10. Some marketing trends:
– Trend towards nice moments and enjoyable experience in a specific and enjoyable setting :
e.g. coffee on San Marco Square in Venice
– Trend towards internet of things and wearable's
– Gamification : Customer engagement by “application of game elements” (like challenges,
missions, competition, reward, badges and leader boards) to non-game contexts. These game
elements leverage our love of competition and reward, and use it to encourage certain
actions.
– Example of encouraging safe driving style : Lottery to win a cash prize which is paid from the
fines from people that don’t keep to the speed limit.
– Example in companies : Manager can give for specific behavior points. Employee compete for
trophies and badges.
– Example in marketing : a personalized dashboard for consumers displaying bonus rewards for
completing an action (social media share or paying with their registered loyalty cards).
Some market trends:
– Concentration effects (even monopolies in some industries like Amazon)
– Entry barriers to access the users of a platform (which is the target market)
– Retaining a ‘consumer habit’ by controlling online traffic
Big tech companies like Google or Facebook are increasingly becoming gatekeepers. Other small
companies need to pay “a toll” in order to access the users of a network of the big tech company
and thus the market.
11. Due to changing lifestyles, habits, competition,… the role of the product manager is important :
– Being the messenger of the market, delivering information to the departments that need
market facts to make decisions.
– Serves as a customer representative in planning and requirements definition (i.e. come up with
a valuable proposition for the customer that fits target’s expectations of functionality, pricing,
accessibility, etc.… of a product ).
How ?
Creating a “Product brief” :
– Defining the what and detailing the target audience
– Giving context on market positioning (product/service may create an entirely new market
segment, but most of the time it will compete against other, similar products within an existing
segment)
– Indicating success criteria : when can we say that we have reached our goal : e.g. brand
impact, sales, downloads, engagement, etc.
– Build a minimum feature set that brings a valuable proposition to life and allows testing it with
customers and partners. The concept allows to efficiently test the interest in a product before
building it entirely (pilot project, prototype of alternative valuable propositions, defining
scenarios)
12. Before starting a project, a “Business case” needs to be made for decision making :
A Business Case captures the reasoning for initiating a project or support decisions to invest in a
service/product (a project/initiative of a new product/service or its improvement)
Business Case determines if the project(s) should be undertaken
The logic of the business case is that, whenever resources such as money or effort are consumed,
they should be in support of a specific business need.
Build a business case to evaluate options, not justify a position.
How?
– Define the costs and expected benefits of the project(s)
– Reasonable set of alternatives to realize the opportunity if project not undertaken
– What are the objectives with current characteristics and future trends?
– Data search: internal (product positioning, cost drivers) & external (market trends, …)
– Financial analysis : Revenue streams
– Implementation and ongoing cost : operational expenditures (OpEx), capital expenditures
(CaPex)
– Describe the risks
13. – Calculations :
(+) Revenues
(-) Operating Expenses
= EBITDA (Earnings before interests and taxes, deprecation and amortization)
(-) Amortization (of CapEx)
= EBIT (Earnings before interests and taxes)
Revenues stream assumptions market share x price (price per click, royalties, …)
Costs stream assumptions cost of goods sold in the future, and “infrastructure or maintenance
costs” for keeping the lights on
Understand that there are many uncertainties about the future :
– Use of “Scenario analysis” with early warning system.
– Identify “risks” and write a mitigation plan
– Evaluation :
Which is the present value of the investment? Net Present Value (NPV)
When do I reach the breakeven point? Pay Back period
Is the investment worth doing? Internal Rate of Return (IRR) or Return on the Investment (ROI)
