An interview with Daniel Goleman, Psychologist. See how you can use emotional and social intelligence to improve your own and your organization's performance.
Monday, January 26, 2009
Innovation at Procter & Gamble - A.G. Lafley
An interview with A.G. Lafley, Chairman and CEO, Procter & Gamble. Innovation is at the core of P&G's business strategy. See how P&G makes innovation an everyday practice in their organization.
The Five Competitive Forces That Shape Strategy - Prof. Michael E. Porter
An Interview with Michael E. Porter, Professor, Harvard University. Porter's five competitive forces is the basis for much of modern business strategy. Understand the framework and how to put it into practice.
Developing the CEO Within You - Prof. Joseph L. Bower
An interview with Joseph L. Bower, Professor, Harvard Business School. To become an effective CEO, work for companies committed to leadership development, and take responsibility for your own development on the job.
Pain Free Selling part 2 - Jeffrey Gitomer
Jeffrey Gitomer brings new philosophies to sales people and their practices. Here he discuses pain and selling strategies based on pain.
Pain Free Selling - Jeffrey Gitomer
Jeffrey Gitomer brings new philosophies to sales people and their practices. Here he discuses pain and selling strategies based on pain.
Zig Ziglar - Attitude Makes All The Difference
Zig Ziglar teaches people all over the world the fundamentals of sales and success. Here he tells a story of a woman with a negative attitude who hated her job, shifted her attitude and changed her life.
Unlearn the past to create the future: C K Prahalad
There was a time when the general belief was that the developed markets are the source of innovation and the benefits of their innovation may flow over time emerging economies like India. That the opposite could be true, that the world could be more equitable and that innovation could flow from emerging markets to developed markets was never seriously considered. Why is the obvious sometimes so hard to recognise? It’s because of the tyranny of dominant logic.
Dominant logic is the result of a pattern of socialisation. All of us are susceptible to it. Often, the dominant logic is implicit. For over fifty years, developed country managers, consultants and academic researchers have been socialised to believe that developing markets cannot be a source of innovation. The academic community has, by and large, accepted this notion as well. The dominant logic provides the theoretical lens with which we see the world. I think it’s time to challenge this received wisdom.
We need to bring back a dash of curiosity, creativity and imagination into the discipline of academic research. To create the future, we have to un-learn the past. We all know the learning curve, but equally important is the forgetting curve — the rate at which we unlearn old habits that hinder our ability to spot emerging opportunities.
The fact is, emerging economies today are becoming the laboratory for new business models. Countries like India are resource constrained so you just have to be innovative here. 800 million Indians live in poverty — can they become a source of innovation and growth? Aspiring young consumers want world class goods and services at low prices. The challenge is to figure out how to do it.
There’s a market for everything in India be it laptops or packaged food. For example, India presents a new challenge and an opportunity for those in the healthcare business; a poor country with over 45 million people with diabetes. How do we get the life long service for diabetics who are poor at a price they can afford? There are big opportunities for building disruptive business models. Today, thanks to new technologies, connectivity and globalisation, price-performance envelopes are changing faster, in every industrial sector, than anyone would have expected.
A truly disruptive business model radically alters the economics of the industry. In the emerging markets, cell phone services offer an excellent example of disruptive innovations that have altered the economics of an entire industry. Bharti Airtel, for example, is adding three million new connections to its network every month, which will make it the largest cellular service provider in the world next to China Telecom, which operates as a monopoly.
Dominant logic is the result of a pattern of socialisation. All of us are susceptible to it. Often, the dominant logic is implicit. For over fifty years, developed country managers, consultants and academic researchers have been socialised to believe that developing markets cannot be a source of innovation. The academic community has, by and large, accepted this notion as well. The dominant logic provides the theoretical lens with which we see the world. I think it’s time to challenge this received wisdom.
We need to bring back a dash of curiosity, creativity and imagination into the discipline of academic research. To create the future, we have to un-learn the past. We all know the learning curve, but equally important is the forgetting curve — the rate at which we unlearn old habits that hinder our ability to spot emerging opportunities.
The fact is, emerging economies today are becoming the laboratory for new business models. Countries like India are resource constrained so you just have to be innovative here. 800 million Indians live in poverty — can they become a source of innovation and growth? Aspiring young consumers want world class goods and services at low prices. The challenge is to figure out how to do it.
There’s a market for everything in India be it laptops or packaged food. For example, India presents a new challenge and an opportunity for those in the healthcare business; a poor country with over 45 million people with diabetes. How do we get the life long service for diabetics who are poor at a price they can afford? There are big opportunities for building disruptive business models. Today, thanks to new technologies, connectivity and globalisation, price-performance envelopes are changing faster, in every industrial sector, than anyone would have expected.
A truly disruptive business model radically alters the economics of the industry. In the emerging markets, cell phone services offer an excellent example of disruptive innovations that have altered the economics of an entire industry. Bharti Airtel, for example, is adding three million new connections to its network every month, which will make it the largest cellular service provider in the world next to China Telecom, which operates as a monopoly.
Another characteristic of disruptive innovations is that they enlarge the size of the market. They improve functionality and make it difficult for incumbent players to react swiftly. And being based on logical, internally consistent business principles, they are sustainable in the long run.
Emerging market companies offer examples in the field of IT, ITES, pharmaceuticals and FMCG that fit all these characteristics. In India, we have disruptive products like the one cent shampoo sachet, the $20 hotel chain (Ginger), the $30 cell phone, the $35 DVD player, the $30 cataract surgery (Aravind Eye Hospitals) and the $2,000 car (Tata Motors). These products have taken things from the rich to the masses. They’ve used what RA Mashelkar calls ‘Gandhian engineering’, embracing resource constraints in the quest to do more with less for more people.
When you look at the companies that have achieved this, you find their aspirations are greater than their resources. Here, it’s stretch and strategic intent that drives the innovation process. Imagination constraints, I’ve found, are far worse than resource constraints.
Disruptrive, resource-constrained innovation necessarily starts with a perspective best described as : “Price-Profit = Cost”. It makes use of advanced technology and leverages assets that are unique to the market. It has scale and logistics and it has the capacity to collaborate with other players.
For those who create the theories of management — us academicians — there’s a need to cultivate curiosity about new phenomenon and emerging markets and pass this to the next generation of scholars. Instead of the usual denominator management that we’ve come to be so good at, we need to focus on next practices, look for the new, the outliers. We need to think of strategy as innovation, tighten the academic-business link and build a new research connection. What’s needed is a transition in our thinking, to an inclusive model of growth where you do more with less for more people.
(The article is based on the opening address by the author at the Strategic Management Society conference at ISB, Hyderabad)
(The Economic Times)
Emerging market companies offer examples in the field of IT, ITES, pharmaceuticals and FMCG that fit all these characteristics. In India, we have disruptive products like the one cent shampoo sachet, the $20 hotel chain (Ginger), the $30 cell phone, the $35 DVD player, the $30 cataract surgery (Aravind Eye Hospitals) and the $2,000 car (Tata Motors). These products have taken things from the rich to the masses. They’ve used what RA Mashelkar calls ‘Gandhian engineering’, embracing resource constraints in the quest to do more with less for more people.
When you look at the companies that have achieved this, you find their aspirations are greater than their resources. Here, it’s stretch and strategic intent that drives the innovation process. Imagination constraints, I’ve found, are far worse than resource constraints.
Disruptrive, resource-constrained innovation necessarily starts with a perspective best described as : “Price-Profit = Cost”. It makes use of advanced technology and leverages assets that are unique to the market. It has scale and logistics and it has the capacity to collaborate with other players.
For those who create the theories of management — us academicians — there’s a need to cultivate curiosity about new phenomenon and emerging markets and pass this to the next generation of scholars. Instead of the usual denominator management that we’ve come to be so good at, we need to focus on next practices, look for the new, the outliers. We need to think of strategy as innovation, tighten the academic-business link and build a new research connection. What’s needed is a transition in our thinking, to an inclusive model of growth where you do more with less for more people.
(The article is based on the opening address by the author at the Strategic Management Society conference at ISB, Hyderabad)
(The Economic Times)
MBA: The top ten business schools
The top ten business schools, according to the Financial Times, are headed by London Business School and Wharton School at the University of Pennsylvania, ahead of Harvard Business School in the US.
=1. Wharton School, University of Pennsylvania
The world's first collegiate business school, founded in 1881. Ranked top by the FT every year. Has a staff member for every 17 students. Alumni include Warren Buffett, Donald Trump and Terry Leahy, the chief executive of Tesco.
=1. London Business School
Established in 1964. Alumni include The Hon Wong Kan Seng, the Deputy Prime Minister of Singapore, Sir John Sunderland, the chairman of Cadbury Schweppes and David Davis MP.
3. Harvard Business School
Founded in 1908, located across the Charles River from the main Harvard campus in Cambridge, Massachusetts. Alumni include George W. Bush, Michael Bloomberg and Jamie Dimon, chairman and chief executive of JP Morgan Chase.
4. Columbia Business School
Established in 1916 in New York City. Alumni include Warren Buffett, Alexander Haig and Wolfgang Bernhard, the chairman of Volkswagen.
5. Insead
Founded in 1957, has a campus in Fontainebleau and Singapore. Alumni include Lindsay Owen-Jones, the chairman of L'Oréal, Helen Alexander, the chief executive of The Economist Group and Philip Hampton the chairman of J Sainsbury.
=6. Stanford University Graduate School of Business
Established in 1925 in California. Faculty contains three Nobel Prize winners. Alumni include Ben Bernanke, the Chairman of the Federal Reserve, Sir Howard Davies, the director of the London School of Economics and John F. Kennedy (who dropped out).
=6. IE Business School, Madrid
Founded in 1973. Alumni include Richard Alden, the chief executive of ONO and vice-president of Cable Europe, Claudio Aguirre, a former chairman and chief executive of Merrill Lynch and Magda Salarich, the chief executive of Santander Consumer Finance.
8. China Europe International Business School
Established in 1994 in Shanghai. The first exclusively Asian-based school to reach the top ten.
9. MIT Sloan School
Founded 1914 at the Massachusetts Institute of Technology. Executive programme shaped by Alfred P. Sloan Jr, a former chairman of General Motors. Alumni include Kofi Annan, Benjamin Netanyahu and Magdalena Barreiro, a former finance minister of Ecuador.
10. New York University Stern School
Established 1900 in Greenwich Village. Students are nicknamed "Sternies." Alumni include Friedrich Hayek, Alan Greenspan and Niall Ferguson.
(Telegraph.co.uk)
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