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How To Promote Your Product Idea

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  Two people fail with innovation projects. One motivates employees with an eccentric, colourful style but receives no funding to expand his efforts. The other easily convinces the chief executive to invest heavily in innovation—yet gains no support from employees who ignore her ego-driven calls for ideas.   Speaking one language is not enough. The first is only fluent in the language of the frontline, the second is gifted only in executive-speak. They are stuck because they can communicate with only one of the many groups they need to move from ideas to innovation.  Your challenge is to find a way of communicating with all the relevant groups.   Most executives receive no rewards for innovation. It’s not in their job descriptions. They don’t keep their jobs for generating ideas; they keep their jobs for making more money. They are interested in making more money and doing their jobs well. Your job is to translate ideas into moneymaking schemes that your executives understand:      ■ H

Today's Globalized Economy

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  Far more than in the past, today’s enterprises are global, with offices and production facilities all over the world. Corporations such as Starbucks and Adidas transcend national borders. A key reason for this change is the strong demand coming from consumers and businesses overseas. Companies that want to grow often need to tap international markets where incomes are rising and demand is increasing. Nike got its start selling athletic shoes and apparel from a small town in Oregon. Nike now sells products in 170 countries, with more than half its revenues coming from outside the United States. Globalization also occurs via cross-border partnership. Netflix created partnership agreements with cable and cell phone operators across the globe and expanded its reach to every country except China, Crimea, North Korea, and Syria.51 Not only does Netflix offer local subscribers access to its massive database of movies, documentaries, and TV shows, but it also provided funding to local produc

Orchestrating the Supply Chain

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If we outsource critical business activities and create a wider, more complex supply/demand network the question of how that network should be managed and controlled becomes crucial. There is always a danger that through outsourcing an activity we lose control of it. A classic example of the consequences of such a case is that of the Boeing 787, the so-called ‘Dreamliner' aeroplane. Boeing outsourced the design and manufacture of almost every part of the aircraft – the wings, the fuselage, the landing gear, the tail fin, the engines – to globally dispersed specialist businesses. There were something like 50 of those subcontractors who were responsible for the design, manufacture and delivery of their part of the aircraft – Boeing then doing the final assembly. Perhaps not surprisingly things went badly wrong. Whilst there were a number of reasons for these issues it seemed that the fundamental cause was the lack of control that Boeing was able to exert across the supply chain. In t

The Power of the Influencer in Marketing

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  Today, with an iPhone and an Instagram account, every person is an influencer. To a certain extent, control has been relinquished not to the entity that has the most marketing budget to spend but rather to the people whose message goes the furthest. Brands shouldn't view these platforms as their biggest enemy. They are also your biggest ally, and today, one that you cannot live without. Mark Zuckerberg and company have transformed the way that we communicate, consume news, and enjoy entertainment. Relationships are Key Since the beginning of time, relationships have been at the forefront of everything we do. Social media gives you the power to identify consumers who are speaking about your brand and your competition as well as the ability to engage them directly. But these relationships need to be carefully fostered. Importantly, the relationship that you form with your customer needs to be a two-way dialogue, otherwise you're pushing out content for the sake of creating nois

Why Every Business Is Now A Data Business

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  Data analytics is helping to answer the question of whether there has ever been life on Mars. While mission-planning decisions used to be based on the previous day's data, the move to real-time analytics vastly speeds up the time in which decisions can be taken by mission control. Patterns and anomalies in the datasets can be spotted far more quickly, and correlations which could provide mission-critical insights are more likely to become apparent, leading to a greater rate of scientific discovery and less danger of malfunction or failure. This has brought healthcare to the forefront of the data revolution, and undoubtedly a lot of the progress we've made in the fight against Covid-19 has been down to the vast increase in data we are generating, and our ability to analyse it. But now, with sensors in every smartphone and doctors able to share information across disciplines, the quantity and quality of the data available are greater than ever before, which means that the poten