Productivity is defined not in terms of the number of goods produced, but in terms of value-added per employee. Customers don’t really buy goods and services but in fact, they buy a value - something they value. The future is all about tangible products fulfilling intangible needs. Ideas like this can transform a business and provide them a competitive advantage to thrive in the future.
People, as Theodore Leavitt pointed out long ago, don't really buy goods and services. They buy a value - something they value. The customers want the goods or services to be accompanied by intangible benefits associated with availability at the right time and place and to express the values they require.
On the weekend of the Christmas holiday, David had a breakdown with his electricity. He took a service from Urban Clap and the person diagnosed and corrected a very small fault which had put the central heating out of action, and put it right. On that day Urban Clap was not selling them a service or a spare part, they were selling peace of mind on a festival day. That is the value that was given even when it’s not needed. It’s the confidence that someone will come when David needs one.
The enterprise providing the value is able to share economics with the consumer by using as little matter as possible in the preparation of the goods or services. So automation and materials technology keep down the amount of processing and actual stuff that has to go into the provision of goods and services.
Automation and materials technology keep down the amount of processing and actual stuff that needs to go into the production and provision of services. Products will be produced more quickly and cheaply, and with less final bulk and weight. The phrase “No Matter” encapsulates all this competitive advantage and value add. 'No matter' as a concept also includes the role of the disposable, though we have to watch its impact on the environment. The idea of no matter also covers the idea of the invisible purpose behind a sale.
For example, the invisible purpose behind a drill is not the selling of drills as such, but rather to sellability to make holes. If you use a laser drill, you are very much into the realm of 'no matter', for the laser produces holes which are by definition the absence of matter. This is all a question of tangible products fulfilling intangible needs. Ideas like this can transform a business. It is all about the effectiveness of outcomes rather than the efficiency of inputs. So the physical and the intellectual blend in the marriage of the changing mindset and the future mindset.
Next is the paradoxical idea of 'mass customization'. This is providing the customer with precisely what he or she requires, such as a garment to suit a bulky or a slender frame. Providing something that is non-standard yet can be produced as goods of standard size, weight, or other requirements. The technology now permits the non-standard to be produced on the standard line. Just a change of the computerized instructions and the trick is performed. Now customers don’t want to wait for something that is made to measure.
The same technique of mass customization can be used to provide cultural variations required in various parts of the world without setting up a special production line. The mass economy provides the benefit of scale; mass customization allows for the differentiation and individualization of requirements.
Not so long ago you can imagine how some traditional business houses would have resisted such changes in the mindset and approach. Managers today need to group the changes which have had the biggest impact on business, industry, and society. Types of technological development have to be focused on the understanding of futurology. They can no more stick to what they know we are good at and so on. There is an emerging need to approach the present from the standpoint of the future. That's how all these developments have occurred- so much so that we find it difficult to realize the amount of resistance they initially caused.
Many of these developments are at a relatively early stage, so there is much more to follow. It is essential that managers who are going to have to cope with such changes see them as a part of their functions to educate their workforces to understand the nature of the changes we can expect, of the world in which we live and the future we can create.
A manager or an employee in an organization who is experiencing a high level of stress may develop high blood pressure, ulcers, irritability, difficulty in making routine decisions, loss of appetite, accident proneness, and the like. These can be subsumed under three general categories, physiological, psychological, and behavioral symptoms. Stress can give rise to a number of changes.
At different points in your professional career, it is helpful to identify your core values. Values are the qualities considered to be the most important guiding principles that determine the priorities in your life and greatly influence your career choices. Your career brings happiness when it is in agreement with the beliefs you have about what is important and meaningful to you. Awareness of your values will help you develop a clearer sense of what's most important to you in life.
Storming Stage of Team Development
Storming is the second stage of team development and this stage is characterized by a bid for power and inter-personal conflicts. Learn the key factors that occur in the storming stage and the strategies that a team leader can adopt to pass this stage of high winds
This style is characterized by leaders making decisions for others and expecting followers to follow instructions. The directive leader is adept at giving instructions, setting expectations, and establishing timelines and performance standards. However, it is possible for the same leaders to display both directive and supportive behavior as per the demands of the situation.
Technological advancement has brought about radical changes in the methods of work and also in the organizational structure and talent strategies. The future of work is transforming our work, workforce, and workplace. Some important trends observed during recent times are discussed below.
As we know change is inevitable as market expectations are not static, new technology is constantly being developed, and organizational responses are inevitable to these sequences. It is a simple matter of business evolution. If every manager and every employee could have some understanding of the triggers of change and their relationships with each other, then the acceptance to change would be easier.
Change is a complex phenomenon. There are different types of changes that are going on around us. Listed in this article are twelve areas in which change arises and bring some classification to it. However one may classify the change, the various heading is always interrelated. The change could be triggered by market changes, technological changes, or organizational changes.
Collaborative leadership is all about collaborative problem-solving and decision-making or can also be defined as the leadership of a collaborative effort. . The term started to appear in the mid-1990s in response to the formation of long term public-private partnerships to rebuild public infrastructure. Learn how you can use principles of collaborative leadership to enhance your leadership skills for being an effective leader.
Time management is the process of planning and exercising conscious control of time spent on specific activities, especially to increase effectiveness, efficiency, and productivity. The best time management techniques improve the ways you work. Time management refers to managing time effectively so that the right time is allocated to the right activity. Learn more about the five steps for effective time management viz. study, identify, analyze, decide, and implement.
Communication has as its central objective the transmission of meaning. The process of communication is successful only when the receiver understands an idea as the sender intended it. How does a message or an idea travel from one person to another? To transmit our message, we engage in a sensitive and complex process of communication, with different elements like sender, message, channels, receiver, noise, and feedback.
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