Strategy and Digital Transformation

Once upon a time, there was a young entrepreneur named Lily. She was passionate about creating innovative products that would improve people's lives. After years of planning and hard work, Lily finally launched her startup. Excited to see her dream come to fruition, Lily invested all her resources in marketing campaigns, hiring, and other initiatives. She wanted her business to proliferate, believing that more funding was the key.                                                                       Photo by David Ballew on Unsplash But things didn't go as planned. Despite a strong start, Lily's business started to falter. Sales were slowing down, and she struggled to attract new customers. She soon realized that her approach to growth had been flawed. She had focused too much ...

Two factors can make or break a company in the business world: force and time. These two elements work together in a delicate balance, and when one is lacking, it can spell disaster for a business. Photo by Tim Mossholder on Unsplash The Force The force refers to the power a company has in its market. This could be the brand recognition it has built up over the years, its products or services' quality, or its pricing strategy. A company with a strong market force is seen as a leader and has a competitive advantage over its rivals. However, the force can be fleeting. New competitors can emerge, technology can disrupt the market, and customer preferences can shift. If a company does not continue to innovate and adapt, its force can quickly erode, leaving it vulnerable to competitors. Take Blockbuster, for example. At one time, Blockbuster was the force in the movie rental market. It had a vast network of stores and a recognized innovation with new products like the iPhone an...

  Birds have a strange way of feeding their chicks. They pick food droplets directly into their mouth until they are ready to fly and get their food. Over the weekend, I saw a video of a chick that kept opening its mouth to a caterpillar, hoping for the caterpillar to jump into it. It ran after the caterpillar; instead of striking and picking it with its beak, It didn't know how to feed. Photo by Vincent van Zalinge on Unsplash This phenomenon resembles how some businesses run their operations by micromanaging their employees. Micromanagement naturally truncates innovation, a sense of ownership among employees and employee growth. It is why many organizations would bring someone from outside to take over a role instead of empowering the people within their organization. While Mircomanageemnt is not a new terminology, It's a big hassle for a team that wants to innovate. What is Micro Management? If you look at Oxford Dictionary, Micromanagement is the "control ...