MANAGING in the

NEW WORLD

Payal Arora, who is a Professor at the Erasmus University in Rotterdam, has written a new book titled The Next Billion Users. Here, she speaks about how the transformational effects of technology do not always converge for the people. The book describes how several so- called transformational technologies merely ended up supplying more options for leisure, while the productivity goals suffered. A lot of this is in corporate training and in education where such play activities were expected to boost learning, but ended up overwhelming the task itself. There is now an increasingly vast digital divide between the developing and developed worlds. In terms of the ability to use technology and access to the same, there are vast differences. NGOs, government agencies and companies that are socially conscious need to incorporate the ideas as evinced in this book.

Source:https://www.strategy-business.com/article/A-new-view-of-the-fortune-at-the-bottom-of-the-digital-pyramid?gko=c71df

Uploaded Date:03 October 2019

The Forbes magazine has conducted a thorough research to identify the companies across the globe, that have the most customer- centric of systems. More than merely a list, the publication has broken down the names across eight key industries, which are in- retail, finance, B2B, healthcare, agriculture, manufacturing, telecom and in insurance. To begin with, in retail it is Wegmans that tops the list followed by Trader Joe’s. Glossier, Warby Parker, Sephora, Amazon, Casper, Away Luggage, Best Buy and the traditional giant Target make up the rest of the top ten. Warby Parker is especially putting to great use its data warehousing mechanism, by fetching relevant records to understand customer behaviours to tailor the marketing accordingly. In finance, it is Citizens on top. The next nine are Chase, Ally Bank, Navy Federal Credit Union, Huntington National Bank, Charles Schwab, ING, Edward Jones, Discover and Capital One. One Medical tops the list for Healthcare. The rest in it include UCB, Kaiser Permanente, RDMD, Propeller, VR Health, Acxiom, Cloud Care, Novo Nordisk and Solv. Slack and DHL top the B2B rankings, which it is Workday and of course Google who are on top of the list for software or internet. Montage tops hospitality and USAA does likewise for insurance. And finally, there is Dish Network for Telecom, Subaru for manufacturing and Indigo in agriculture.

Source:https://www.forbes.com/sites/blakemorgan/2019/06/30/100-of-the-most-customer-centric-companies/#3435d7c063c3

Uploaded Date:11 September 2019

Design is now increasingly being seen as an essential cog of business, and not just as a support mechanism. Several cases have been known of bad service design and product. On the other hand, there are also countless cases of iconic designs such as the Google home page, the Swiss Army Knife and the visitor experience at Disneyland. A McKinsey Design Index (MDI) has been crafted that analyzes the strong correlation between great design and the company’s financial performance. Generally the study conducted by McKinsey clearly confirms how there is indeed a strong correlation. This is true for across the industries. Many companies have been quite slow to catch up. To ensure that design works take place smoothly, the company needs to ensure an analytical bent of mindset for the top leadership. The talent recruitment must be such that each team is made up of cross- functional skill levels. Continuous iteration is needed to create the ideal product or service design. Pilot tests need to be performed to gauge the user experience.

Source:https://www.mckinsey.com/business-functions/mckinsey-design/our-insights/the-business-value-of-design?cid=other-eml-alt-mbl-mck&hlkid=61ddb36e59874eea93a15cb7455d2c6e&hctky=9953462&hdpid=69c22963-565e-4250-91db-c617d15d1c11

Uploaded Date:29 August 2019

The concept of innovative disruption first became mainstream thanks to a book written by Clayton Christensen titled The Innovator’s Dilemma. Several other books have since been written to add to the growing bit of knowledge in this area of disruptive business innovation. One of them is How to be a Digital Platform Leader. Another is Are Technology Companies Ripe for Disruption. Yet another is On Target: Rethinking the Retail Website. One book with a seminal impact was How Disruptive Innovation changes Education. How Big Companies can Outrun Disruption is yet one more. To complete this list, there is The Three Types of Leaders who create Radical Change.

Source:https://hbswk.hbs.edu/item/the-manager-s-guide-to-leveraging-disruption?cid=spmailing-28653279-WK%20Newsletter%2008-21-2019%20(1)-August%2021,%202019

Uploaded Date:29 August 2019

It is now well- established that the next economic downturn is probably on the horizon. Companies, brands and individuals need to be prepared for the same, in a way that they can end up as winners during this round. Three key steps need to be mastered, in order to thrive during this period of uncertainty. To survive, one needs to maintain viability. Acting early is thus needed, so the brand can focus on the next downturn, and not on the last one. Then one has to perform, so building resilience becomes key. Changes to the talent management structure is crucial to this, so that flexibility gets built in. To thrive, one needs to work on increasing the vitality. A long- term perspective has to be worked on.

Source:https://www.bcg.com/featured-insights/how-to/prepare-for-downturn.aspx

Uploaded Date:26 August 2019

A number of artists who fail to get their cash counters ticking, take solace in the belief that future generations will rediscover their work. Humans tend to think of artistic tastes a random set, though there are networks that help gauge the creative concepts as well. Hits and misses are not random, but follow a pattern. The fashion industry brings this perspective in to focus. Business intelligence provided by the Worth Global Style Network (WGSN) has provided a clear understanding on what trends have worked and which haven’t over the past more than two decades. Tastes have also varied seasonally. The floral look for instance is a part of a deeply embedded element. Concepts of design thinking are now being widely adapted not just in the fashion industry, but also elsewhere. Professionals in the creative areas must not look at these findings as the magic formula. But it helps them plan for platform strategies, so they may combine their aesthetic abilities with the broader cultural preferences of the time.

Source:https://knowledge.insead.edu/leadership-organisations/creative-concepts-have-networks-too-11976

Uploaded Date:26 August 2019

It has now widely been acknowledged that diversity is the need of the hour on corporate boards. This diversity is not just about race or ethnicity, but also about gender, as more women are needed at the very top. If one analyses the hierarchy of skills required at the board level, they may broadly be divided in to two categories. One is the IQ and hard skills, encompassing problem solving, finance and writing. But hard skills are superseded by EQ and soft skills. This involves coaching, management training, empathy, trust building, strategic influence and interpersonal communication. Women tend to have an advantage in the latter set of skills. The pace of this change has to be quickened. Board level women can also act as role models to a wider audience. It will also help stem the erosion of trust, now common to businesses.

Source:https://knowledge.insead.edu/blog/insead-blog/women-chairs-the-time-is-now-11671

Uploaded Date:26 August 2019

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