Principles are general rules or maxims that have repeatedly proven successful when followed. There are guiding principles for just about everything. I know of the following kinds of guiding principles for strategy: Guiding principles to guide the formulation of strategy Guiding principles to guide the implementation of strategy Guiding principles for business strategy Guiding principles… Read More »
I started my journey to understand target operating models (TOMs). It didn’t occur to me to first understand what is an operating model until I tried to understand the big picture and how everything fits together. Note to self: Before writing a TOM go back and review operating models. A target operating model (TOM) envisions… Read More »
We spend a lot of time creating target operating models (TOMs)–sometimes prematurely in my view. A telling fact is that businesses create TOMs without anything in writing about the existing operating model or business strategy. When I learned about target operating models I, thankfully, first grounded myself in what an operating model is, why it… Read More »
I use this post to keep links to various banking studies in ASEAN. Singapore: DBS study of affluent consumers, March 2014 [DBS wants to] establish a stronger and longer term relationship with emerging affluent customers. The first-of-its-kind programme is part of the bank’s strategy to become a trusted banking partner to the emerging affluent… Read More »
The standard definition for “business model” is an articulation of how an organization creates, delivers and captures value. Business Model Generation breaks a business model down into 9 building blocks: Customer Segments Value Propositions Channels Customer Relationships Revenue Streams Key Resources Key Activities Key Partnerships Cost Structure. They organize it all into a “business model… Read More »
Simon Sinek’s TED talk – “How great leaders inspire action” about the “golden circle” is a good place to begin when setting out to create a strategy or marketing message. Starting by understanding and communicating the WHY behind what you do is a very powerful way to get others to support it. Simon asserts that… Read More »
In my previous posts on business strategy I talked some about business-unit strategy. Sometimes a business unit is focused on a particular market. If an organization wants to create a strategy for a market segment, but for whatever reason doesn’t want to create a business unit around it, then what do you call it? I… Read More »
A key part of the business strategy for most banks is to become more customer-oriented. Some banks are accomplishing this by giving increasing control to executives who are responsible for broad customer segments. These customer-segment-oriented strategies (I call them “segment strategies“) are an important part of the bank’s business model. Segment strategies impact the bank’s… Read More »
The world is getting harder to understand because it is changing faster and in ways that are hard to predict. I left Bank of America to return to IBM about 8 years ago, and since that time the questions that I have been asked to tackle have gradually changed from questions about how to build… Read More »
I am gearing up to do some crowdsourcing and looking for ways to motivate my private crowd to participate. Answer in short: Game mechanics. Thinking…if gamification is the way to motivate people in the digital space then why is this not considered more strongly in the design of digital services? Thinking some more…