Tag Archives: 10.Anticipating Future Business & Leadership Needs
Six reasons why information systems are so important for business today include:
1. Operational excellence
2. New products, services, and business models
3. Customer and supplier intimacy
4. Improved decision making
5. Competitive advantage
The emergence of a global economy, the transformation of industrial economies, the transformation of the business enterprise, and the emergence of digital firms make information systems essential in business today.
Information system is a foundation for conducting business today. In many businesses, survival and the ability to achieve strategic business goals is difficult without extensive use of information technology. There are six reasons or objectives why businesses use information system:
The evolution of intrapreneurship has progressed from its inception but the adoption of intrapreneurship is still far from complete. It reminds me of Geoffrey Moore’s book
‘Crossing the Chasm’ Although Moore talks about the traditional Technology Adoption Life Cycle, it is safe to say that ideas or concepts like Intrapreneurship go through their own adoption cycle.
Much like the adoption curve for new technology highlighted in Moore’s book, ‘innovators and early adopters’ are engaged in some form of intrapreneurship. We see pockets of intrapreneurship sprinkled throughout these organisations but it is far from being integrated into the fabric of the organisation.
There is also a gulf between those organisations that are engaged in intrapreneurship and those that are still sitting on the sideline. A huge chasm exists between the ‘early adopters and the early majority’. Moore describes the early majority as ‘the pragmatists’ who wait until things have been established before they buy into a product or concept like Intrapreneurship. This reluctance to adopt intrapreneurship is happening in some of the world’s largest organisations. It is especially true when it comes to social intrapreneurship.
In this 'Be Inspired' interview, Paul Bridle speaks to Roger Martin-Fagg, a behavioural economist, about the direction business should go in the next 5-7 years and the importance of innovation.
The focus for many years has been on “relationship selling” and a variety of processes have been developed to help achieve this.
Whilst relationship building is going to remain important, to rely on this will not be enough for the good sales force. The game has moved to another level where it is about creating the ‘buying experience’.
It will mean ensuring that the sales process is an experience for the buyer, and that means adapting some of the systems and tools currently used.
It also means that the sales team will need to learn new skills. A lot more work in the early stages assessing and understanding the buyers needs and preferred methods, far greater skills in being able to research or understand backgrounds and issues, and especially being able to appreciate the clients need for return on investment, will be needed. They will need to develop the skill of creating a journey for the buyer that turns out to be a great experience.
Sales Managers will need to be a far better resource to their sales team. The relationship the Sales Manager has with the sales team will have a direct impact on the experience the buyer will have with the sales person. The Sales Manager will need to upgrade their skills in order to ensure the sales team have the necessary tools to create a buyer experience and that the whole company supports the buyers experience as well.
A lot more questions will need to be asked, and shared, to ensure the buyers experience is a success. The distance between sales and marketing is now narrower than ever before, and in many cases the line between them has disappeared altogether. The buyers experience will benefit from that line disappearing.
I am seeing the word 'Entrepreneur' used a lot these days and in many cases it refers to people that are not Entrepreneurs at all.
There is a lot of difference between someone that builds a business and an Entrepreneur.
The trouble is, the word comes from French:
1875–80; < French: literally, one who undertakes (some task), equivalent to entrepren (dre) to undertake (< Latin inter- inter- + prendere to take, variant of prehendere ) + -eur -eur.
So basically it refers to an employer or business owner. However, over the years we have used it to describe someone that starts a business or develops a business normally in an innovative or creative way and often against significant odds.
Now we seem to be using it liberally to describe anyone starting up a business or owning one.
I think that is sad. We should be able to differentiate those that are simply running or building a business and those that are reinventing businesses.
The parallels between the game of golf and being in business help us understand where we should focus and what should be important. Golf is a game where the player is largely competing against himself and seeking to improve ways to improve his performance.
In this video, Paul Bridle will look at other important parallels and why this is important to business and the way we approach our business every day. If we approached business in the way a golfer approaches golf, it may make a significant difference to our performance.