Like the Doppler effect where sound waves are compressed to create higher and higher pitches, today's market forces are compressing business cycles demanding more for less. Organizations need to increase their velocity to meet today’s challenges. Competing objectives often make the path forward a difficult decision. Regardless of the current needs, a focus on the future cannot be overlooked. Here’s a framework for transformation:
Successful business and digital transformations are focused on organizational capabilities and their impact to the company. The strength of digital technologies — social, mobile, analytics and cloud — doesn’t lie in the technologies individually. Instead, it stems from how companies integrate them to transform their businesses and how they work.
Some organizations achieve such exceptional levels of performance—time to market, innovation, growth, efficiencies, reliability, dependability, and adaptability—that it puts their rivals to shame. The select few are capable of generating and sustaining such high-velocity, broad-based, relentless improvement and innovation, that they achieve unparalleled levels of excellence. Learn what drives the success of these companies.
Business and digital innovation is reshaping industries by disrupting existing business and operating models. But it is also having a profound impact on society, presenting a series of opportunities and challenges for businesses and policy-makers.
Transformation at scale can take several years. Establishing the right approach and implementation path is critical.
4As & Company will help ensure the success of your transformation by modeling the changes and exposing the gaps. Below are models that should be considered in your transformation strategy.
The Five Forces Analysis provides a framework for industry analysis and business strategy development formed by Michael E. Porter of Harvard Business School in 1979.
Porter's five forces include - three forces from 'horizontal' competition: the threat of new entrants, threat of substitute products, and the threat of established rivals; and two forces from 'vertical' competition: the bargaining power of customers, and the bargaining power of suppliers.
Horizontal Competition:
The threat of the entry of new competitors
Profitable markets that yield high returns will attract new firms. As more entrants emerge, the profitability will decrease for all firms unless the entry of new firms can be blocked by incumbents.
The threat of substitute products or services
The existence of alternative products increases the propensity of customers to switch to the alternatives.
The intensity of competitive rivalry
For most industries, the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.
Vertical Competition:
The bargaining power of customers (buyers)
The bargaining power of customers refers to the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.
The bargaining power of suppliers
The bargaining power of suppliers refers to the power that suppliers may exert over the firm when there are few substitutes.
Download Five Force Analysis mindmap here.
Is it a strategic objective to enable and foster innovation in your company?
- Innovation is essential, more than ever before
At the same time, companies struggle to establish formalized innovation practices and processes within their organizations.
- A holistic innovation framework called Innovation Management Framework can help organizations to innovate better.
What is Innovation Management Framework (IMF)?
- IMF articulates innovation management as a structured, comprehensive and consistent set of concepts.
- IMF is a broadly applicable foundational knowledge base for innovation management and collaborative innovation.
4As & Company is an assemblage of Senior Business Leaders with an average of 20+ years of experience in management and technology consulting. The group has served in senior management capacities at start-ups as well as Fortune 500 companies, benefitting organizations by increasing their organizational velocity in critical transformational activities.
Define | Design | Do