Eddielogic

- The Blog on Strategy and Management

August 11, 2014
by Oliver
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The need for a plan

Q: Do you always need a business plan?

A: No, not always. (But it might help you to change the odds….)

“I had no business plan. I optimistically thought we’d figure it out as we went along.”

Charlie Clifford, Founder of Tumi

July 23, 2014
by Oliver
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Business model and strategy process

The employment of business models in strategy process has been featured in an article of the German Harvard Business Manager recently. The key question was: In which year did your organization discuss the business model as part of the strategy process? The results show that the business model discussion has gained an important role in the last decade.

Data source: Horvath & Partners, HBR, Juni 2014

March 11, 2014
by Oliver
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The importance of trust management and the trust pyramid

In my previous posts I discussed certain aspects of trust. In this new post I will present a tool that might help your organization to deal with trust issues. The Internet – including its (social) media channels – is powerful force, but when it comes to money and personal finance, having a relationship with someone, customer trust still matters a lot. Customer trust represents one of the last competitive advantages of “off-line banks” since they are represented by more (i.e. real advisors) than just a website. We can summarize this “more” under the term “physical evidence”, i.e. a branch, personal contact, equipment, brochures.
Continue Reading →

January 27, 2014
by Oliver
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Research questionnaire tips

London School of Marketing, an institution offering accredited marketing and business qualifications in the heart of London, has published a new blog offering advice to students about how to write strong research questionnaires when pursuing the CIM Professional Certificate as well as other credentials such as part-time, full-time and fast-track MBAs.

“We want to offer students more than the knowledge they need to succeed in their chosen programme,” said Anton Dominique, COO/CFO of London School of Marketing. “We want to provide them with the skills required to excel in their chosen profession as well. The resources we provide on our website and our online library are designed for this purpose.” Continue Reading →

January 4, 2014
by Oliver
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Attributes of trust

In this former post I discussed calculus trust. With this new post I would like to discuss the attributes of trust. Again, I will employ the banking industry as an example.

Fairly different to power and conflict the issue of trust is linked with positive economically desirable results. Trust has always been an important issue, but before the financial turmoil some organizations and managers underestimated its impact on business. STAEHLE (1999) argues that trust’s positive results can be found in the following areas: stable personal and organizational relationships, reduced costs of transaction, additional business opportunities, easier coordination and better communication. Continue Reading →

October 30, 2013
by Dagmar
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Did you already write your failure resume?

Last week I read an article at fastcompany.com about failure portfolios. This is another interesting idea that takes a well-known concept one step further. We all know that our failures and mistakes are a great chance to learn something. Contemplations about ‘lessons learned’ are a frequent component of processes like projects or planning cycles. Such an analysis of failures is mostly an internal issue that does not leave the company – or even the department.

The failure resume goes beyond that in several ways: Continue Reading →

July 25, 2013
by Oliver
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More benefits from knowledge management

Knowledge management is an important approach for organizations to manage their insights and experiences. Hence it can play a vital role in the strategic management of a firm, in particular in the area of maintaining and developing competitive advantages. In my news box I found these interesting figures and statements today.

According to a new report by University of Greenwich Professor Colin Coulson-Thomas organizations are capturing and sharing the wrong sort of knowledge. Based upon a five-year investigation, the report Transforming Knowledge Management sets out a more affordable route to high performance organizations. “Knowledge management initiatives have been excessively general and overly complex, and they have not delivered hoped for results,” claims Coulson-Thomas. He continues “A more focused and flexible approach is required that can quickly impact upon performance, achieve multiple objectives and provide clear benefits to both people and organizations.” Continue Reading →

June 11, 2013
by Oliver
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Inflight advertising and its impact on the purchasing of the Chinese traveler

The impact of marketing on potential buyers represents a frequent research objective. In my news box I found these interesting figures and statements today.

A survey was conducted in collaboration with the JMG-Research firm in Paris to measure the impact of inflight advertising (press, TV and digital) on the Chinese traveler. A sample of 4,516 travelers from Beijing and Shanghai, revealed that 39% have purchased the product after seeing it inflight, 64.8% visit a duty free store to actually see the product, 47.5% purchased the product in a different location other than the duty free zone, 54.8% searched for information after seeing the product in ads and 63.7% told relatives or friends. Continue Reading →

February 18, 2013
by Dagmar
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The Terminology of Strategy – When Leaders Mistake Execution for Strategy

There is an interesting article about the terminology of strategy at strategy + business: How Leaders Mistake Execution for Strategy (and Why That Damages Both) by Ken Favaro. Its subtitle is When leaders substitute visions, missions, purposes, plans, or goals for the real work of strategy, they send their firms adrift. This article is exactly in line with my personal experience.

When I worked with managers from middle management up to senior executives in the process of strategy development, I often found that they have problems with the terminology of strategy. There seems to be a lack of clarity about the real meaning of terms like strategy, vision, mission, plan, strengths, opportunities and so on.  Hence, a concept is used without proper understanding. A strategy that is developed on that basis is not a strategy but a compilation of thoughts and ideas labeled with some strategic terms. Not surprisingly, such a “strategy” will hardly deliver the expected results. Continue Reading →