By Vadim Kotelnikov, Founder, Ten3 BUSINESS e-COACH – Inspiration and Innovation Unlimited!, 1000ventures.com
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"Be everywhere, do everything and never fail to astonish the customer." – Macy's motto |
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Two Components of Sustainable Growth Strategy Sustainable business growth strategy is a practical approach to achieving top-line growth and bottom-line results. helps you achieve much more with much less effort. It gives you advice that imparts perspective and balance. It applies equally well to the managing of a large corporation or the running of a small business... More
Building Your
Sustainable
Competitive Advantage
Sustainable competitive advantage is the prolonged benefit of
implementing some unique value-creating strategy based on unique
combination of internal organizational
resources
and
capabilities
that cannot be replicated by competitors...
Organizational Capability Approach
"An organizational capability approach nurtures three of the most critical factors essential to achieve superior, sustainable results:
Conversely, taking action to achieve strategic focus, organizational alignment, and operating discipline develops capability thinking."13 Balance Your Business System The primary goal of any business is to increase stakeholder value. It is achieved through a dynamic balancing of competing values. In order for a business to maximize economic value, it must balance customer satisfaction and competitive market forces with internal cost and growth consideration... More
Balanced Organization:
5 Basic Elements
Leadership
(Fire):
Leaders
are
energized,
communicate
strategic
direction, and
lead by example... The leaders of great companies are not just great at growing profits. Most importantly, they are organizational architects determined to establish institutional excellence for as long as the company is in business. "When institutional excellence is in place, companies can achieve industry leadership for decades and generations"5... More Creating a Culture for Innovation By: Soren Kaplan Shaping culture, especially when it comes to creating a culture of innovation, is a daily task that involves elevating the mundane to the strategic. By managing the strategic levers of culture, and by practicing the strategies of envisioning, communicating and sponsoring, it becomes possible to create a culture of innovation and drive long-term strategic advantage... More Market Leadership Strategies The market leader is dominant in its industry and has substantial market share. If you want to lead the market, you must be the industry leader in developing new business models and new products or services. You must be on the cutting edge of new technologies and innovative business processes. Your customer value proposition must offer a superior solution to a customers' problem, and your product must be well differentiated... More
Venture Strategies The most successful companies are those that have developed aggressive venture strategies and have made ventures critical components of their strategic and operating success. For today's corporations, traditional internal expansions, efficiency improvements and "synergistic" acquisitions are no longer sufficient sources of growth in most industry segments that had grown crowded and hypercompetitive. The new challenge is to search for emerging "white space" opportunities, "new-business creations that would meet the unmet, unserved needs of customers in emerging markets."1... More Do more with less – "focus on something that is not just different from the rest, but something you can continue to deliver better than anyone else. And continue delivering it! Don't get sidetracked into growth by category extensions and businesses you don't belong in."8 Enterprise-wide Business Process Management (EBPM) EBPM is "a deliberate and collaborative approach to systematically - and systemically - managing all of a company's business processes."1 A process-managed enterprise supports, The Tao of empowers and energizes employees, encourages their initiative, enables and allows its people to perform process work... More Strategic Innovation Strategic Innovation is the creation of growth strategies, new product categories, services or business models that change the game and generate significant new value for customers and the corporation... More Entrepreneurial Approach Innovation is the specific tool of entrepreneurs. Doing new things, or doing old things in new ways is how entrepreneurs exploit change as an opportunity for a different business or a different service. Entrepreneurs and entrepreneurial leaders see change as the norm and as healthy; they always search for change, respond to it, and exploit it as an opportunity.... More
Sustainable Business Models In the new era of unrelenting change and competition, your face a daunting challenge: how to sustain the business model of your firm. "The fact is, no matter how bulletproof your firm's current business model, it will be challenged by new business models."4 The new reality is that business models have shorter shelf life. You must constantly attempt to discover new business models if you hope to survive and grow... More
Differentiation Strategy Hypercompetition is a key feature of a new economy. With the enormous competition markets today are driven by choice: your targeted customers have too many choices, all of which can be fulfilled instantly. Choosing among multiple options is always based on differences, implicit or explicit, so you ought to differentiate in order to give the customer a reason to chose your product or service. Thus, "differentiation is one of the most important strategic and tactical activities in which companies must constantly engage. It is not discretionary."9... More Innovation Innovation is the key driver of competitive advantage, growth, and profitability. There are many parts of the whole field of innovation: strategy innovation, new product development, creative approaches to problem solving, idea management, suggestion systems, etc. All of these components are important. "Yet approaching them piecemeal will bring piecemeal results... These seemingly disparate issues must be integrated into a single overarching strategy if they are to be mobilized in the quest for growth."5 In this new era of systemic innovation, you must design your firm's innovation process holistically... More Managing Innovation versus Managing Operations Innovation is a learning process, the product of which is new applied knowledge. Operations is an established process driven by existing knowledge. Operations generate today's value, while innovation creates tomorrow's opportunities. The primary difference between operations and innovation is uncertainty. It eludes planning, prediction and containment... More
Sustainable Innovation System The Innovation System model synthesizes and defines the core elements of innovation, their behavior and interaction. The power of this good model makes it easier to understand complex issues and dynamics of innovation, separate its elements and examine them is greater depth. It establishes a framework that helps you to demystify the innovation process and its driving forces, to reveal the unique innovation practices of market champions and understand what makes them so successful and unique... More
Service-Profit Chain
The
service-profit chain is a powerful phenomenon that stresses the
importance of
people -
both employees and customers – and how linking them can leverage corporate
performance.
By encouraging employees to go beyond the literal boundaries of their jobs – to make suggestions for improvement – you gain not just a part, but the full potential of their contributions to the business... More Eco-Effectiveness Environmental issues and eco-effectiveness are increasingly reflected in business decisions. No business that strives to remain competitive, open to new markets and new opportunities can afford to ignore the global demands for environmental quality. Concepts and tools such as cleaner production, life-cycle assessment (LCA), design for environment (DfE) and extended producer responsibility (EPR) are rapidly becoming key tools for forward-thinking corporations... More Moving with Speed In the new economy where everything is moving faster and it's only going to get faster, the new mantra is, "Do it more with less and do it faster".6... More
Growing Is Less Risky than Not Growing... The Do-or-die Struggle for Growth... Growing In the Knowledge Economy... Eight Best Practices of Successful Companies... Working On Your Business... Opportunity-driven Business Development... Results-based Leadership... Creating Customer Value... Value Innovation... Customer Partnership...
Ten Commandments for Building a Growing Company... Developing Sustainable Growth Strategy From the Outside In... Achieving Top-Line Growth... Inclusive Approach... Employee Empowerment... Relentless Growth Attitude... Improving Business Performance: Virtuous Circles... Developing Sustainable Growth Strategy From the Outside In... Live the Qualities of Sustainable Growth Business... Relentless Growth Attitude... Five Guiding Principles for Spreading the Relentless Growth Attitude... Growing Is a Creative Game... Bunsha - a Japanese Concept for Successful Business Growth... Harnessing the Power of Change... Harnessing Your People Power... Strategies for Building a Growth Culture... Principles for Driving Growth Through Innovation... Sustainable Innovation System... Using the Innovation Portfolio... FutureStep - a New Strategic Management Process... Creating Change... The Tao of Business Success... 25 Lessons from Jack Welch...
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