We are the in the age of continuous of continuity. This is because we don’t know who are our consumers, customers and competitors. It is quite true for many cases. For example – Mobile Phones – They are not sure if they need to compete with landline phones, digital cameras or PDA. A series of discontinuities shaping an economy. For example – usage of internet and email usage. In a recent conversation with a doctor, I got to learn that – Now a days patients has doubled the consulting time of a doctor because the patient knows about the diseases much more before. Given the changing environment, unpredictable social and political such as 9/11 incident, increase in the price of oil barrels and others. Most of us didn’t know about it. There are 18 new companies have taken the top list of NewYork Stock Exchange and many are out of list. These can be attributed to not being flexible, agile and adaptable.
Strategy is more of choice. ‘How do one creates a superior Value?’ it is not there is no analysis – there is excess of analysis. It’s no more a theory of ‘Survival of fittest’, its now ‘Survival of the fastest’. Let me give an analogy – Five day cricket test matches are reduced to One day international match to 20-20 over match game. Every player need to think of numbers (score), wickets and failure analysis. This boils to role of people in central – Strategy is about 20 percent of number and 80 percent in culture. The hierarchy has to be circular not pyramid or leader should create a circular in pyramid. The leader is expected to lead, create and make others adaptable to an organisation. The four basic decision rules are – Daring greatly and acting quickly. This connects to the saying of Henry Ford – ‘You never going to build reputation on what you are going to do, you build reputation on what you do.’ It is better to do rather than keep discussing. It’s all about risk taking, continuous learning, rewarding smartly.
In order to check if the strategy is working and a direct measuring is customer feedback. It reminds of an interesting story –
At party you see a gorgeous girl, and you walk to her and say ‘Hi’ and ‘Marry Me’ – its ‘Direct Marketing.’ At party you see a gorgeous girl, and you get her telephone number, next day you call her and say – ‘I am rich, Marry Me’ – its ‘Telephone Marketing.’ At party you see a gorgeous girl, she walks upto you and say you are rich and marry me – its ‘Brand Recognition’. At party you see a gorgeous girl, you say ‘I am rick and Marry Me’, she slaps your face, that is ‘Customer Feedback.’
We continue the article with more precise case written by MBA students of SSM. Stay tuned with us! We thank you for taking your time to read the article. Please rate our article and your feedback is always inspiring to us.