Vantage Blog

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23
Aug
2018

Connecting the Dots…making sense of disruption

Agility is without doubt the management buzz word of the moment. Great Leaders are agile; organisations must reorganise to be agile; your products and services, and how you go to market, must have agility at its core…or so we are all told.



But why?

It is increasingly clear to me that the pace of change, and in particular the impact of digital technology on competition and our organisations, is the reason.

The accelerators of change including artificial intelligence, robotics, cloud computing, big data, augmented and virtual reality, and even Blockchain (ignoring the smoke and mirrors of Bitcoin!) will, I believe, enable new products, services and business formats to develop and scale at a pace currently only just starting to be seen.

However, there is too much emphasis on the specifics of the individual technologies themselves, and not enough on how these technologies can be used together and applied to real customer problems. The ability to remove customer friction by the smart application of technology is a clear differentiator for many already. Think Uber, contactless cards, Netflix to name a few. This will be what differentiates winners in the future.

It is the role of business leaders to figure out how to ‘connect the dots’ – the nexus of technologies, models, concepts and ideas.

We are moving from a relatively linear trajectory to one of exponential change. Some sectors and industries will move faster than others, so the need to respond will be different. The opportunity, though, is available to all.

And it’s not just about start-ups – though their adoption and application of new ways of working and digital technologies are a sign of things to come and should act as a cue and/or wake up call.

Agile organisations that are able to transform their culture and think about how they can partner and work in alternative ways will be the success stories of the future. Impenetrable moats around our businesses are no longer assured.

The unbundling and re-bundling of integrated value propositions – just look at what has already happened in financial services – enables new customer offers to be designed and delivered for customers in different and exciting ways. As a result, we are already seeing industry definitions change, with some sectors effectively disappearing.

A key consideration is a shift in many companies from offering products to overseeing, participating in or facilitating ecosystems. Nespresso was an early example where the offering was a combination of components that only worked together - an espresso machine, pods, milk frother and the physical coffee making experience - in a closed fully controlled (via patents) loop.

Apple is another early ecosystem participant. They effectively embedded their ‘hardware’ (iPhone, iPad, Mac etc.), all operating of a single platform, as the core with complementary products and services creating value for customers – the sum being greater than the parts. Not ‘closed’, like Nespresso, but orchestrated or controlled by Apple with app developers, musicians etc embedding their offer in the wider ecosystem.

Newer ones worth having a look, at that are leveraging new digital technologies, include Babylon and Nest.

Ecosystems are modular (re-bundling), and rely on mutual interdependencies, two-way value flow and shared data, held together with a variable level of hierarchical control specific to each one. As a result, the various players in these ecosystems are able to embed their offers in a broader set of customer needs.

This can be challenging. It requires business leaders to think beyond a traditional ‘value chain’ that their business model has been built on. We need to consider what could be the core of an ecosystem and its (typically) digital platform – the one or two features that drive customer take up and use. What can complement that core and ensures a broader set of needs are met – not just for customers but business partners and suppliers?

Will ecosystems be the business model of the future? Will thinking about how you could embed your product or service into a broader set of needs be a key strategic question to consider? Building, catalysing or joining an ecosystem (or ecosystems) could well become a core strategy for future growth. The legacy of an organisations cost base, structure and offering could be key barriers to overcome if you want to not just ‘connect the dots’ but work out how to win by being agile in a fast-changing world.

James Atkins
Vantage Strategy & Marketing

I recently attended the London Business School’s course on Exploiting Disruption in A Digital World where these, and many other such concepts were covered. The August Vantage Leaders Forum spent half a day exploring these issues and how they could be applied to their organisations.

If you would like to discuss running a workshop, or presenting a keynote, exploring the opportunities that these new ways of thinking open up, or how these models or technologies could be applied in your organisation, please feel free to contact me on 0419 516 655 or at jatkins@vantagemarketing.com.au

WEBINAR: To view a complimentary 45 minute webinar on Connecting the Dots click here



Agility is without doubt the management buzz word of the moment. Great Leaders are agile; organisations must reorganise to be agile; your products and services, and how you go to market, must have agility at its core…or so we are all told. ..

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19
Nov
2016

Vantage CEO Forum - challenging growth strategies for 2017

Last month, 25 CEO’s, GM’s and business owners met up in Melbourne for the launch of the Vantage Leaders Forum. The Forum will meet quarterly for half a day to share new ideas, learn new skills, and discuss best practice; all of which will enable leaders to apply research and concepts to their own business.


The topic was Developing and Challenging Growth Strategies for 2017. We explored some great research by Bain on the factors that drive high performance in organisations.  The study identifies six key factors – Aligned, Capable, Effective, Adaptable, Efficient and Engaged. If you want to read more on the research click here.  


In the workshop the group shared what had been effective for them in driving engagement within their own organisations with some creative ideas explored around effective and timely communication.  This included how to use enterprise social media and collaboration tools – such as Yammer and Chatter – combined with both formal and informal meetings and catch-ups. One leader utilises a 10-minute stand up session for the leadership group once a week.  I think this will be replicated by a few of the CEO’s pretty soon judging by the enthusiasm for such an informal, more spontaneous way of communicating and engaging. The group also shared how authentic leadership is key to true and lasting engagement.


The second half of the morning focused on developing strategies for the top growth priorities for each business leader heading into 2017.  Utilising the Mindshop 4 Step strategy development and problem solving approach, the group worked in pairs identifying and then developing quick win strategies.  In part these leveraged some of the learnings from the Bain high performance model, as well as each leader working together to build and challenge the other’s ideas and plans.  At the end of the session, one page plans in hand, the CEO’s had moved their growth agenda forward – a kick start for implementation in 2017.


Wrapping up the workshop, the group reflected that not only where there interesting and challenging discussions, but one of the real benefits was meeting with peers away from the business in an open, collaborative and constructive environment. 


To read what some of the attendees thought about the day click here to see their comments on LinkedIn.


The forum will next meet in February where we will again work collaboratively on key business challenges, and share ideas and insights to grow their businesses, their people and themselves. This works in well with the direct coaching also provided to each participant to drive the success of his or her business.

 

by James Atkins, Vantage Strategy & Marketing

This article is linked to James' Google+ profile



About the Vantage Leaders Forum: The quarterly Vantage Leaders Forum is one aspect of how we work with our clients to achieve their individual and business goals. It supplements our core advisory and coaching work where we help develop and implement strategy, as well as problem solve around current opportunities and challenges within their businesses. Additionally they are supported through access to Mindshop Online where they have 24/7 access to a wide range of tools, online courses and resources.


To read what some of the attendees thought about the day click here to see their comments on LinkedIn.


If you are interesting in being part of this unique, invitation only group and gaining my support to drive the growth of your business (and you as a leader) please send me a brief email to arrange a 20 min call to discuss your needs further:
jatkins@vantagemarketing.com.au


Last month, 25 CEO’s, GM’s and business owners met up in Melbourne for the launch of the Vantage Leaders Forum. The Forum will meet quarterly for half a day to share new ideas, learn new skills, and discuss best practice; all of which will enable leaders to apply research and concepts to their own business. ..

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11
Feb
2016

Discover 10 key insights to help your business grow in 2016

The recently released Mindshop research of business leaders reveals what fellow leaders from the US, Australia and the UK think are the key challenges and opportunities in their industries for 2016. 


The Business Leader Insight Study reveals 10 key areas business leaders believe they need to focus on. Of these insights which are the 3 key areas of focus for your business in 2016?


Click here to read the full report findings. Click here to listen to James Mason explain the Top 10 insights.

Please feel free to contact us at Vantage to discuss the key areas of focus for you.

The recently released Mindshop research of business leaders reveals what fellow leaders from the US, Australia and the UK think are the key challenges and opportunities in their industries for 2016.  ..

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27
May
2015

Vantage May 2015 Newsletter Out Now

A new model for determining the probability of change success in a business was released recently. The model was developed based on extensive research and identifies ten factors, grouped into 3 major categories, that drive successful change in businesses - Change Readiness, Capability and Beliefs.


This is a breakthrough model in helping organisations boost their probability of change success from a default 30% to a much higher rate. This obviously will then flow through to savings in cost, time, people and lost opportunities.

To view the model and watch a short video click here.

Also in this edition:

We hope you find something of interest. Please feel free to contact us to discuss how any of these issues may impact your business.

A new model for determining the probability of change success in a business was released recently. The model was developed based on extensive research and identifies ten factors, grouped into 3 major categories, that drive successful change in businesses - Change Readiness, Capability and Beliefs. ..

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12
Mar
2015

Vantage March 2015 Newsletter Out Now

Growth is once again the key theme for most businesses in 2015.

However survey results show that many businesses lack the change readiness, skills and strategy implementation ability to achieve them.

How will you adapt in 2015? What are the top trends and strategies you need to implement for success?

To receive a complimentary copy of the 2015 Business Leaders Insights and Trends report click here.

Also in this edition:
We hope you find something of interest. Please feel free to contact us to discuss how any of these issues may impact your business.

Growth is once again the key theme for most businesses in 2015.

However survey results show that many businesses lack the change readiness, skills and strategy implementation ability to achieve them.

How will you adapt in 2015? What are the top trends and strategies you need to implement for success?  ..


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