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Showing posts with the label business development

Short-term versus Long-Term Strategic Thinking

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Strategic thinking is a major component of business planning that sets the course of action that leads to either business success or business failure. Short-term thinking can be problematic as resources are wasted fixing potholes and gaining immediate results without considering long-term solutions. Executives that focus exclusively on short-term results sometimes leave their organizations in worse shape. A great portion of our day is engaged in crisis management where new problems arise and we must deal with them immediately before the they spread. This process can be effective in the short run but can damage the company in the long-term when the root of the problem is not addressed. The crisis situations will continue to spread and grow as the underlying issues spread. A strategy should focus on limiting the damage caused by crisis problems while ensuring the root problem is still being addressed. Executives who think short-term will see immediate results but will often damage

Solar Powered San Diego Encourages Ecological Advancement

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San Diego is well on its way to becoming a city destined for environmental salvation. According to the non-profit Environment California Research & Policy Center San Diego Ranks second in the nation in terms of solar power usage. We are doing well in protecting our environment and ensuring a sustainable future. That doesn't mean we can't do more. Creating streamlined processes for solar power installation approval as well as encouraging higher levels of solar power reliance is beneficial for setting the framework for sustainable cities. If there are any unnecessary restrictions on installing solar panels it will raise the overall customer costs and slow the pace of solar integration. There are advantages to developing solar panels that include less reliance on outside sources of energy, lowering long-term costs, and reducing environmental costs. As more renewable sources are developed the city will lower its overall carbon footprint and slow its contribution to enviro

Service Logic That Solves Customer Problems

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The process of developing a better service logic approach requires more than wishful thinking and running the same process over and over in hopes of doing something new. Organizations that focus on integrating their service concept throughout their operations will be rewarded through greater market relevance and customer support. It is helpful to encourage customers to be co-creators and then developing operations around their needs to ensure focus. Integrated service frameworks relies on taking customers suggestions based on their problems, using their input to develop a salable solution, and then integrating the information throughout operations. The lens of understanding requires the company to think through customer problems and service solutions to successfully move to the next level. Jobs-to-be-done (JTBD) offers insight into organizational needs to solve customers problems while service-dominant logic (SDL) focuses efforts on the customers needs. Using jobs-to-be-done w

As World's Largest Economy Does China Gain New Advantages? Should We be Worried?

For the first time in decades the U.S. is no longer the largest economy in the world. Despite industry experts throwing up red flags for years the inevitable happened. According to new data by the IMF the total output of goods and services by China is $17.6 trillion versus $17.4 trillion for the U.S. This leaves experts scratching their heads and wondering how this could happen and what it means for the future. Should we be worried? Resource Advantages : With China accounting for 16.5% of the world economy in terms of real Purchasing Power Parity (PPP) and the U.S. at 16.3% of PPP it means that China has a little more leverage in their treaties and purchasing behavior. They will be able to obtain and receive resources at a slightly lower rate than the U.S. giving them an economic advantage. The advantage they have in obtaining cheaper resources for their manufacturing can be sufficient when systematically applied across multiple industries year-after-year. A few cents

Improving Robotics and Human Intelligence through Online Education

Human intelligence takes a heightened position in the modern age as the use of robotic rescue equipment offers emerging opportunities to enhance military capabilities. Human intelligence matched with robotic equipment creates stronger interfaces between the two that extends human capabilities. Petrisor, et. al. (2013) discusses how e-learning in a digitized battlefield creates cooperation between human and artificial intelligence in obtaining higher performance.  The idea for developing learning and adapting machines was first introduced in the 1950’s by BF Skinner who wrote The Science of Learning and the Art of Teaching as well as Teaching Machines . As a behavioral psychologist he developed a machine that not only was intrinsically rewarding to students but also rewarded them externally for correct answers.  The use of machines as well as the platform by which students learn has radically improved. Online learning can do much more than Skinner’s early experiments and n

Why are Customer Service and Trust Important for Customer Retention?

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Abundance by Dr. M. Abel Service is an important component of customer retention, business development, and improved product sales. Companies that fail to develop customer service also fail to develop trust with their customers which mean they may lose a lifetime of patronage. Research by Webber, et. al. (2012) discusses provider service orientation and how this predicted cognitive trust much more than customer agreeableness.  Trust is the root of all commerce and relationships. Cognitive trust is grounded in the perception of another’s reliability, dependability and competence (McAllister, 1995). The way in which customers view customer service representatives is important for the retention of those customers.  Let us assume for a moment that you have a problem with a product and bring it forward to a customer service representative. When the representative doesn’t appear to understand the problem, doesn’t follow through on company promises, and makes a number of mis

Does the Improving Economy Offer Opportunities to Raise Social Mobility?

The word “economy” is on everyone’s lips.   Things are looking bright for those who have a stake in the economic system. Markers in the service and manufacturing sectors are progressive and provide opportunities to put people to work while lowering the nation’s growing income disparity. The new economy offers the possibility to resize an unbalanced ship so that it finds benefits in hydroplaning to new levels.  The Institute for Supply Management’s non-manufacturing index increased to 58.7% while sixteen U.S. non-manufacturing industries led by construction and education also experienced growth ( 1 ).   To complement this growth the service sector also realized expansion adding further strength to the recovery and providing higher levels of employment. According to the Commerce Department manufacturing also received positive growth numbers ( 2 ).   The U.S. is moving into a stronger competitive position that furthers its ability to maintain momentum. Manufacturing increases