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Technology and Business

Renewable sources are increasingly occupying a substantial pie of the energy requirements in several countries. This is especially true for Europe, but also increasingly, in North America as well. New resources however, also require a corresponding change in the strategies. There are in total four critical areas, where action now needs to be modified. First of all, new services need to be created to cater to the present realities. These changes need to be aligned with the corporate training and development imperatives. The market participation models for the legacy industry leaders needs to be updated. Some services need to be built in to ensure flexibility. Yet others need to be extremely resilient. The scope of the grid- planning too must be expanded. All grid products and services must get integrated via a common platform. The rate design needs an innovation. Hybrid models can work best in the current scenario. This will help leverage the diverse resources.

Source:https://www.mckinsey.com/industries/electric-power-and-natural-gas/our-insights/less-carbon-means-more-flexibility-recognizing-the-rise-of-new-resources-in-the-electricity-mix?cid=other-eml-alt-mip-mck-oth-1810&hlkid=3b297173de3b45508008d983604ba047&hctky=2657824&hdpid=0f7efac6-7c97-4248-8bdd-6527357dd612

Uploaded Date:02 February 2019 

A lot of the traditional levers which defined industrial outlets, have now been exhausted. The profitable growth in the sector has also witnessed a flatlining. It is in this context, that manufacturers need to bring in innovations to counter this otherwise stagnation. One of the best ways to overcome this is to make use of the enormous potential of data warehousing and quick- fire processing power. To cite an instance, the number of connected devices will more than double up between 2017 and 2020, generating enormous quantities of data, the fuel for digital- era businesses. A strong foundation is needed to be able to leverage such data flow. This includes a well- defined data strategy along with cyber security, could computing and business analytics capabilities. In some industries such as in automotive and in semi- conductors, the trend for gains will be particularly steep. The operating model needs to be built around agility, and the corporate culture needs to likewise bee mended towards this new reality. The company needs to first understand its present position, so that it can plan for the digital transformation.

Source:https://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/the-trillion-dollar-opportunity-for-the-industrial-sector?cid=other-eml-alt-mip-mck-oth-1811&hlkid=f794496d90ee407e89002b94f2904d37&hctky=9953462&hdpid=40950bab-bdef-4ff9-9eb4-9ea21456999b

Uploaded Date:22 January 2019

A few of the technologies that will play a major role in the business world over the coming years have been identified. These technologies are- social media analytics, wearable technology, Internet- of- Things (IoT), augmented analytics, cryptocurrency, blockchain, cloud computing, location- based services, Augmented &Virtual Reality (AR & VR) and Artificial Intelligence (AI) & Machine Learning (ML). The process of piloting has also been explained. For piloting, first of all the emerging technology has to be outlined with reference to the business impacts expected. This potential impact needs to be directed towards the business models and processes being used at present. Sponsors then need be identified to showcase these pilot demonstrations. After this, specific pilot project plans need to be put in place, replete with measurable impacts. The execution then needs to be done. This works best with social media analytics. It is the combination of the two terms – business analytics and social media- when combined together to great effect. Wearable technologies, AR/VR, AI/ML and the IoT are other areas where massive potential for piloting exists.

Source:https://www.forbes.com/sites/steveandriole/2018/11/25/how-to-pilot-emerging-tech-like-social-media-wearables-iot-ai-analytics-crypto-blockchain/#7fd684e147d0

Uploaded Date:28 December 2018

A recent report published by research firm Spencer Stuart signals that a substantial number of CMOs (Chief Marketing Officers) have been sacked throughout 2018. The CMO’s role has evolved from being the font for all expertise, to being a facilitator for growth. To do this, there are some crucial business levers, starting with the brand value. Another is the product marketing. Data and the subsequent business analytics form another crucial part, followed by the sales support. Certain lessons have been learnt from this uneasy transformation that CMOs are witnessing. The first is that one ought to understand one’s real responsibilities. Once the role is clarified, a team has to be built around the idea. So, the talent recruitment and subsequent team building has to be geared towards the end goal. There mustn’t be any boundaries, not must silos get created. Whatever dynamics exist within a team, coming in the way of success have to be overcome.

Source:https://hbr.org/2018/11/the-new-pressures-facing-cmos-and-how-to-overcome-them?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert_activesubs&utm_content=signinnudge&referral=00563&deliveryName=DM18593

Uploaded Date:26 November 2018

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