Investing in your employee’s health and well-being is more than just a noble endeavor—it’s a strategic move that can yield significant returns. A well-executed wellness program can lead to improved productivity, lower healthcare costs, and increased employee engagement. According to the American Journal of Health Promotion, companies that implement comprehensive wellness programs see a 28% … Read more
For small business owners, setting up an effective payroll schedule is key to keeping finances in check and employees happy. One popular option is biweekly pay, which strikes a good balance between regular paydays and easy-to-manage payroll processes. Choosing biweekly pay comes with several benefits, like better cash flow management and less time spent on … Read more
A virtuous circle is one where a good event feeds on itself to improve business further. It is a positive feedback loop. A virtuous circle can be small operating over days or it can drive a whole company’s strategy for decades. The same positive feedback loop can also run in reverse however, to create a vicious … Read more
Strategic leadership drives business growth by setting a clear vision and fostering an innovative culture. This article outlines ten principles that successful leaders use to achieve these goals. By implementing these strategies, businesses can enhance performance, encourage creativity, and maintain a competitive edge. Let’s explore these tenets that define effective strategic leadership and their profound … Read more
Adapting to change is crucial for any organization. Workforce transformation ensures companies stay competitive and grow. This involves redefining roles, upskilling employees, and fostering a culture of continuous improvement. The following principles guide successful workforce transformation, providing a clear roadmap for leaders to navigate this critical process. 1. Focus on Concrete Business Outcomes Effective workforce … Read more
Creating a robust strategy is vital for any organization’s long-term success. However, developing a strategy involves making choices, and making choices necessitates having viable alternatives. Generating these alternatives can be challenging, often leading organizations to pay lip service to the process rather than creating genuine options. This article explores why generating alternatives is difficult, how … Read more
Chicken and Egg strategy problems occur whenever the value proposition to two separate groups is dependent on penetration in the other. An example is an auction site like eBay, with the number of buyers driving attractiveness to sellers, and likewise the number of sellers driving attractiveness to buyers. This situation will power a virtuous circle once an … Read more
The S curve is a strategic concept that describes how the old ways mature and are superseded by new ways. In the early days of new technology, it takes a long time to improve performance. People are working out the technology, and the applications, ironing out the flaws, and building the ecosystem. Slowly over time, … Read more
Core and Context is a distinction that separates the few activities that a company does that create true differentiation in customers’ eyes (CORE) from everything else that a company needs to do to stay in business (CONTEXT). “Core” refers to the innovative processes that businesses undertake to create differentiation that wins customers. “Context” refers to … Read more
Introduced by Michael Porter in 1985, an activity system map is a powerful tool used in strategic planning to visualize and enhance an organization’s competitive edge. It illustrates the links between the clusters of activities and the processes that support the core competencies, hence representing how the activities pursued by an organization fit with and … Read more