Posts Tagged ‘steve’
Digital Currency: What the Heck Is It?
When you consider the fact that any series of transactions can be tracked with one hundred per cent accuracy (what’s called an immutable audit trail), and that built-in encryption means it’s inherently secure, blockchain suddenly becomes the ideal technology for a variety of financial functions and exchange mechanisms. And forward-thinking companies, including some of our country’s big banks, are already investing in that potential.
Source: Digital Currency: What the Heck Is It?
Read MoreSix building blocks for creating a high-performing digital enterprise | McKinsey & Company
75 percent of S&P 500 incumbents will be gone by 2027
Of course, adapting over time has always been essential to corporate success. Yet while the average corporate life span has been falling for more than half a century—Standard & Poor’s data show it was 61 years in 1958, 25 years in 1980, and just 18 years in 2011—digitization is placing unprecedented pressure on organizations to evolve. At the present rate, 75 percent of S&P 500 incumbents will be gone by 2027. That means managing your transition to a digitally driven business model isn’t just critical to beating competitors; it’s crucial to survival.
Source: Six building blocks for creating a high-performing digital enterprise | McKinsey & Company
Read MoreFrom disrupted to disruptor: Reinventing your business by transforming the core | McKinsey & Company
As companies push to scale their digital reinvention throughout the organization, the crucial role of seasoned change managers comes into focus. These leaders not only play “air traffic controller” to the many moving parts, but also have the business credibility and skill to solve real business problems. They must maintain an accelerated pace of change and drive accountability across the business. The change leaders will look across the entire enterprise, examining organizational structure, data governance, talent recruitment, performance management, and IT systems for areas of opportunity, making decisions that balance efficiency and speed with outcome.The “agility coach” is an example of this type of role. This person has strong communications and influencing skills, can create and roll out plans to support agile processes across the business, and can put in place KPIs and metrics to track progress.
Source: From disrupted to disruptor: Reinventing your business by transforming the core | McKinsey & Company
Read More25% of CEOs’ Time Is Spent on Tasks Machines Could Do | Harvard Business Review
Like President Johnson in the 1960s, we see that automation could make a major contribution to productivity and prosperity… For companies around the world, automation will offer the potential to capture substantial value — and not just from labor substitution. These technologies enable higher throughput, enhanced quality, better outcomes, greater safety, and the opportunity to scale up or adopt new business models.
Source: 25% of CEOs’ Time Is Spent on Tasks Machines Could Do
Read More2017 Is Quickly Becoming The Year Of The API Economy
Bottom Line: APIs are most valuable for creating new business models and streamlining selling strategies across all channels. The greatest revenue potential they provide is removing barriers to growing revenue by integrating platforms and apps so organizations can quickly launch new business models and scale fast.
Source: 2017 Is Quickly Becoming The Year Of The API Economy
Read MoreCognitive law outthinks data overload | IBM
It used to take up to 23 days to conduct routine legal research. Now, working with Watson, ROSS Intelligence is using cognitive technology to read legislation, court decisions and secondary sources to find answers in seconds, that help lawyers move quickly from the routine to the essential.
Few law firms of any size can survive in their present form unless they make affordable, quality representation a top priority. Now that ROSS Intelligence has tapped into Watson’s cognitive abilities, firms have the ability to do just that. Along the way, they just might just transform the entire industry.
Source: ROSS and Watson tackle the law – IBM Watson
Read MoreDisruptive strategy: Usage-based pricing | Deloitte University Press
Today, pay-per-view isn’t the only thing you buy on a per-use basis. Companies are now offering usage-based pricing on everything from cars to car insurance, giving them rich insight into how, when and where customers use products and threatening to upend traditional business models where revenues depend on ownership.
Source: Disruptive strategy: Usage-based pricing | Deloitte University Press
Read MoreWhy Innovators Should Study the Rise and Fall of the Venetian Empire
Entrepreneurs and innovators resist “success as usual” syndrome, exploring emerging technologies and new business models. They try to keep the big picture in mind and are wary of being too efficient and too optimized. This perspective helps them promote unconventional ways of thinking, solving problems, and challenging the status quo. They know the goal is not to chase a fixed horizon but to understand when and how the horizon moves as they approach it.
Source: Why Innovators Should Study the Rise and Fall of the Venetian Empire
Read MoreHow to ‘Productize’ Your Service Business Offerings
If you own or lead a professional services company, you understand the unique challenges you face in not offering a tangible product. Even if your business is thriving, you still only have so much time to exchange for money. Try as you might to maximize price or delivery and allow yourself a comfortable margin, you will still reach a natural ceiling.
This was the day things shifted from: “I know this and therefore others will pay me to do that for them,” to “I want to learn everything about marketing. Quantify and organize it, and then bring it to market in a highly repeatable manner.”
Source: How to ‘Productize’ Your Service Business Offerings
Read MoreOutcome based pricing Exploring an ‘everything as a service’ model
Pricing based on customer outcomes has the potential to turn the buyer/seller relationship into more of a partnership, because both sides are working toward common objectives. The seller is motivated to drive efficiency and positive outcomes – because the more successful the customer is, the more revenue it generates.
Source: Outcome based pricing Exploring an ‘everything as a service’ model | pwc
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