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Profitability is not a stand-alone aspect of a business organization. It is inextricably linked with Costs. But Profits and costs requires a facilitating culture. A companyÕs culture can have a significant impact on financial performance. Companies with adaptive cultures emphasized by key managerial constituenciesÑcustomers, stockholders, and employeesÑrealized, revenue, stock price & net income increases. Such cultural experiences are best applied when organizations seek to push employee contribution ahead of other factors that influences business performance. Maintain a transparent, strategic focus and alignment so that employees know how they are contributing to the results, & where employees come on par with customers when fulfillment of need is concerned.
In business, the fundamental criteria for determining the rationality of decisions usually are specific economic measures such as return on investment, market share, profits, sales, and margin. Yet despite usage of modern management tools or state of art practices several corporations have not emerged out of the woods in difficult economic downturns. Economic impact of the firm, obviously, is more than internal management approaches alone. Best of organizations have encountered failures for want of strategic differentiators. Schooley Mitchell is a large network of independent and objective telecom, merchant services and small package shipping experts. Both friendly and competent, we are consultants with specialized expertise you can trust, as thousands of happy clients have already experienced. Schooley Mitchell handles your telecom, merchant services and shipping needs without selling you anything, allowing you to focus on your core business knowing your systems are fully optimized.
The contribution of culture to organizational performance is substantial and quantifiable. In The Culture Cycle, renowned thought leader James Heskett demonstrates how an effective culture can account for 20-30% of the differential in performance compared with "culturally unremarkable" competitors. Drawing on decades of field research and dozens of case studies, Heskett introduces a powerful conceptual framework for managing culture, and shows it at work in a real-world setting. Heskett's "culture cycle" identifies cause-and-effect relationships that are crucial to shaping effective cultures, and demonstrates how to calculate culture's economic value through "Four Rs": referrals, retention, returns to labor, and relationships. This book: Explains how culture evolves, can be shaped and sustained, and serve as the organization's "internal brand." Shows how culture can promote innovation and survival in tough times. Guides leaders in linking culture to strategy and managing forces that challenge it. Shows how to credibly quantify culture's impact on performance, productivity, and profits. Clarifies culture's unique role in mission-driven organizations. A follow-up to the classic Corporate Culture and Performance (authored by Heskett and John Kotter), this is the next indispensable book on organizational culture. "Heskett (emer., Harvard Business School) provides an exhaustive examination of corporate policies, practices, and behaviors in organizations." Summing Up: Recommended. Reprinted with permission from CHOICE, copyright by the American Library Association.
WINNER: CMI Management Book of the Year Awards 2018 - Management Futures Category Building Digital Culture aims to answer a simple question: How can organizations succeed when the environment they operate in is changing so quickly? The last thing businesses need today is a digital strategy. Instead, their strategy needs to be fit for our fast-changing digital world, where businesses have more data than they know what to do with, a media landscape that's exploded in size and complexity, the risk of a new disruption around every corner, and only one certainty: that this change won't let up. Building Digital Culture doesn't address whether or not you should advertize on Facebook or invest in virtual reality. It doesn't seek to unearth a silver bullet to make digital investments a sure-thing. It steps back from the hype, and argues that whatever digital might mean for your business, if you don't create a digital culture you'll most likely fail, or at least fall short of what you want to achieve. Combining more than 30 years of experience at the forefront of marketing and digital developments, and based on more than 200 hours of research, candid interviews and contributions from brands including Twitter, Deloitte, HSBC and many more, Building Digital Culture will help you navigate from being a business that tolerates or acts digital, to one that truly is digital.
Digital transformation is not about technology--it's about change. In the rapidly changing digital economy, you can't succeed by merely tweaking management practices that led to past success. And yet, while many leaders and managers recognize the threat from digital--and the potential opportunity--they lack a common language and compelling framework to help them assess it and guide them in responding. They don't know how to think about their digital business model. In this concise, practical book, MIT digital research leaders Peter Weill and Stephanie Woerner provide a powerful yet straightforward framework that has been field-tested globally with dozens of senior management teams. Based on years of study at the MIT Center for Information Systems Research (CISR), the authors find that digitization is moving companies' business models on two dimensions: from value chains to digital ecosystems, and from a fuzzy understanding of the needs of end customers to a sharper one. Looking at these dimensions in combination results in four distinct business models, each with different capabilities. The book then sets out six driving questions, in separate chapters, that help managers and executives clarify where they are currently in an increasingly digital business landscape and highlight what's needed to move toward a higher-value digital business model. Filled with straightforward self-assessments, motivating examples, and sharp financial analyses of where profits are made, this smart book will help you tackle the threats, leverage the opportunities, and create winning digital strategies.
A practical approach to business transformation Fit for Growth* is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC’s Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&’s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right. *Fit for Growth is a registered service mark of PwC Strategy& Inc. in the United States
This book examines issues and implications of digital and social media marketing for emerging markets. These markets necessitate substantial adaptations of developed theories and approaches employed in the Western world. The book investigates problems specific to emerging markets, while identifying new theoretical constructs and practical applications of digital marketing. It addresses topics such as electronic word of mouth (eWOM), demographic differences in digital marketing, mobile marketing, search engine advertising, among others. A radical increase in both temporal and geographical reach is empowering consumers to exert influence on brands, products, and services. Information and Communication Technologies (ICTs) and digital media are having a significant impact on the way people communicate and fulfil their socio-economic, emotional and material needs. These technologies are also being harnessed by businesses for various purposes including distribution and selling of goods, retailing of consumer services, customer relationship management, and influencing consumer behaviour by employing digital marketing practices. This book considers this, as it examines the practice and research related to digital and social media marketing.
This book explores a wide range of emerging cultural, heritage, and other tourism issues that will shape the future of hospitality and tourism research and practice in the digital and innovation era. It offers stimulating new perspectives in the fields of tourism, travel, hospitality, culture and heritage, leisure, and sports within the context of a knowledge society and smart economy. A central theme is the need to adopt a more holistic approach to tourism development that is aligned with principles of sustainability; at the same time, the book critically reassesses the common emphasis on innovation as a tool for growth-led and market-oriented development. In turn, fresh approaches to innovation practices underpinned by ethics and sustainability are encouraged, and opportunities for the exploration of new research avenues and projects on innovation in tourism are highlighted. Based on the proceedings of the Sixth International Conference of the International Association of Cultural and Digital Tourism (IACuDiT) and edited in collaboration with IACuDiT, the book will appeal to a broad readership encompassing academia, industry, government, and other organizations.
Technological advancements are contributing to shape future business models and the industrial scenario. Companies face the challenge of having to adapt to the frequently shifting technology landscape. Therefore, organizations must exploit technological advances to thrive in the digital revolution. This book presents and discusses emerging digital business models in the Industry 4.0. These models are illustrated with real case studies and include data-driven, platform, smart factory and servitization among others. The book introduces a detailed classification to help organizations to redesign their current business models and discusses how to gain unique competitive advantages. The book includes not only theoretical concepts to understand the context of digital transformation but also an assessment framework to enable and support innovation in organizations and create new revenue streams. The book will be of interest to students and professionals alike who want to understand the core of the Industry 4.0.