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Failsafe Strategies Profit And Grow From Risks That Others Avoid
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Book Synopsis Failsafe Strategies: Profit And Grow From Risks That Others Avoid by : Nil
Download or read book Failsafe Strategies: Profit And Grow From Risks That Others Avoid written by Nil and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Failsafe Strategies by : Sayan Chatterjee
Download or read book Failsafe Strategies written by Sayan Chatterjee and published by Wharton School Pub. This book was released on 2005 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction UnderstandingRisk: The Real Key to Competitive Strategy This book is aimed at practitioners andscholars of business strategy. Whether you are a CEO of an organization or afunctional level manager you need to understand not only how to take risks buthow to also navigate around the risks to capture the rewards that prompted therisk-taking in the first place. More importantly, you need to know your role inreducing these risks. You may argue that the responsibility of a strategy liesat the leadership suite but it is increasingly becoming apparent that thesuccess of a strategy is determined by how much the rank and file understandstheir role in the strategy. The risks in any strategy are not just in theexecution but also in the design. The genesis of the book comes from theextensive executive education and consulting that we have been involved in overthe past 15 years. Many of our session participants have asked us to develop abook based on the concepts developed in these sessions. These concepts havebeen field tested and refined over the years through our consultingengagements. Teaching strategy to experienced executives in one or a two-daysession is an extremely different challenge than teaching strategy to MBAstudents over an entire semester. Executives are extremely intolerant aboutacademic theories that they cannot apply immediately to their day-to-dayconcerns. Our challenge therefore was to develop bite sized examples that couldhelp these executives to internalize the concepts that we were developing inthe sessions at the same time make the concepts generalizable to a wide rangeof business situations. Our solution was to write numerous short cases that abusy executive could read but still have enough detail to illustrate key concepts.You will find these short cases throughout this book. We are hoping tore-create the same experience that participants in our executive sessionstypically get from studying these cases and from the interactions In theremainder of this Introduction, we will provide an overview of how the rest ofthe book is organized. The book has two broad sections and an appendix. Thefirst section develops concepts that will allow a firm to clearly understandthe nature of the risks in a given business. The second section expands thisframework to growth and diversification strategies. An appendix presents adetailed analysis of the rise and fall of Enron using the risk management lens. An overview of the book This bookdevelops a set of concepts that will allow you to design business models wherethe risks can be reduced to practical proportions. The risks in any businesscome from not knowing the demand, threat from competition and not having theappropriate capabilities1.The basic theme that will be repeated over and over again is that to reducerisk you need to have clarity regarding where the risks are and create choice,or options, in tackling the risk. We will use numerous examples of businessstrategies to illustrate the concepts. But more to the point we would like todemonstrate how the concepts developed in this book would have enabled you toquickly visualize the successful strategies as well avoid the mistakes.However, we are by no means claiming that the strategies that we use asexamples were developed using our frameworks. We are only too aware of muchacademic Ôafter the factÕ analysis of famous strategies that definitely do notportray the reality of how the strategies were developed. Notable examples areHonda, Wal-Mart and Southwest. Rather, we use these examples as ÔexercisesÕthat will help you internalize our framework and methodology. Section 1 Designing Strategies for Avoiding Risk Businessrisks can manifest at two different stages. There will always be risks in theexecution of a strategy. However, quite often the risk is not in the executionbut in the design of the strategy that predisposes it to failure. Ouroperations colleagues tell us that 80% of the life-cycle cost of a car islocked in at the design stage. A well-designed strategy is not immune toexecution risks but very few firms consider capability risks at the designstage and thus compound the risks during execution2.A major thrust of this section is to demonstrate that quite often firms missout on strategies that can avoid or minimize capability risks while designingthe strategy. This is precisely the debate surrounding the Iraq liberation. Theproponents point to the goal of a democratic Iraq as a high return venture.Very few people can argue with this objective if it can be attained. However,critics contend that the strategy did not think through the capability risksand the objective may have been attainable at much less cost. Chapter One How to see gold where others see risk:Identify more choices to get the gold In order to embraceventures that are considered to be too risky by others, you need to be moreproficient than your competitors in understanding the nature of the risksbefore you actually invest in a venture. In order to do this you need to have aframework that will allow you to understand the sources of risks at a highlevel and a methodology that will allow you to avoid, the risks that scaresyour competitors. The first step in this process is the ability toconceptualize multiple business models that can exploit the same marketopportunity. This chapter will give you a framework to identify options thatisolate your firm from key risks. We call this frameworkÔoutcome to objective.Õ This framework will expose the inherent risk of relyingon core competencies and how this perspective leads to an inside-out view ofstrategy. This chapter will also demonstrate why giving lip service to customerneeds is not enough and how the concept of desired outcomes allows you to breakthe inside-out mindset. Finally, this chapter will show you how to identifymultiplecompetitive objectives, the logic behind yourbusiness model, that can deliver the same desired outcome while capturing someof the value for your shareholders. When you begin to identify multiplecompetitive objectives you take the first step to put distance between you andyour competitors in your ability to profit from risky ventures. In summary,this framework will increase the odds of profits by enabling you to do twothings. First, it will allow you to consider opportunities that others wouldavoid because of the perceived risk and thus have the field to yourself.Second, you will be able to differentiate your firm from your competitors byreducing the likelihood of loss because you will have at your disposal manymore choices to avoid the risks than your competitors. ChapterTwo: Clarity in competitive objectives: threesteps to reduce risks InChapter One you will have been exposed to techniques for visualizing multiplepossibilities for exploiting the same risky profit opportunity - the choicedimension. Chapter Two will force you to come to grips with the constraints inexploiting these possibilities - the clarity dimension. Chapter Two will guideyou through three steps to crystallize the constraints and the risks ofovercoming these constraints as you design the business model. At the end ofthis process you will have complete clarity as to what youneedto deliver. This by no means suggests that youcandeliver what you need to but at least you will nowhave better clarity about the risk that you may not be able to acquire therequired capabilities in order to deliver what you need to. The firststep to develop this clarity is to understand the broad competitive objectiveby which a strategy will deliver value to the customerwhile capturing someof the value for the firmÕs shareholders.Hopefully, with the techniques developed in chapter one you will have many morebroad competitive objectives to choose from to profit from the same opportunitycompared to your competitors. Afterdeciding on the initial broad competitive objectives you have to take the mostcritical next step of developing core competitive objectives. We define coreobjectives as a set of specific and measurable deliverables for the businessmodel. Using short sidebar examples, this chapter will show how to preciselydefine a strategyÕs core competitive objectives. This precision will give you amuch better clarity on the nature of the risks that you will be facing. Thisprecision will allow you to track the risks in real-time so that you can pullthe plug in case you made a mistake in your assumptions or logic before thestrategy completely unravels. The examples will also illustrate how companieshave overlooked the true risks of a business model when they didn't take timefor this precision. Finally, this precision is critical to clearly understandthe constraints a firm will be facing to deliver its objectives - itscapability requirements. Basically, at this point you will have clear choicesabout what youcando. Many a strategyhas gone awry because of the lack of precision in defining the core objectives.With precise definitions you will be able to avoid the more risky options atthe design stage and not encounter the risks during execution. Chapter Three: Identifying multiple capabilityconfigurations Inthis chapter, we develop techniques of how to identify alternative capabilityconfigurations that allows you to learn from a successful strategy and apply itin a different context. We demonstrate this by contrasting the strategies ofJetBlue and Southwest and how JetBlueÕs strategy has developed with verydifferent inner workings even though most people think it is basically similarto Southwest. This example should be helpful in understanding how twosuccessful companies in the same business can have different core objectivesand supporting capabilities. Further, we will also demonstrate that the samecore objectives can be used as the business logic in totally different industries.Clearly, the capabilities to deliver these objectives would vary across firmsin different industries, but if you can understand the common theme that isobservable across such strategies, you may be able to apply the same principleto your own business. We use five short sidebar examples to illustrate thispoint.
Book Synopsis Outlines and Highlights for Failsafe Strategies by : Cram101 Textbook Reviews
Download or read book Outlines and Highlights for Failsafe Strategies written by Cram101 Textbook Reviews and published by Academic Internet Pub Incorporated. This book was released on 2008-08 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Never HIGHLIGHT a Book Again! Virtually all of the testable terms, concepts, persons, places, and events from the textbook are included. Cram101 Just the FACTS101 studyguides give all of the outlines, highlights, notes, and quizzes for your textbook with optional online comprehensive practice tests. Only Cram101 is Textbook Specific. Accompanys: 9780131011113 .
Book Synopsis The Well-timed Strategy by : Peter Navarro
Download or read book The Well-timed Strategy written by Peter Navarro and published by Pearson Prentice Hall. This book was released on 2006 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive guide explains how to manage not just the business cycle and industry cycles but also today's unprecedented level of macroeconomic turbulence. Navarro shows how to align every facet of business strategy, tactics, and operations to reflect changing business conditions and not get run over.
Book Synopsis Why Great Leaders Don't Take Yes for an Answer by : Michael A. Roberto
Download or read book Why Great Leaders Don't Take Yes for an Answer written by Michael A. Roberto and published by Pearson Education. This book was released on 2005-06-06 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt: Harvard Business School's Michael Roberto draws on powerful decision-making case studies from every walk of life, showing how to promote honest, constructive dissent and skepticism; use it to improve decisions; and align organizations behind those decisions. Learn from disasters like the Space Shuttle Columbia and JFK's Bay of Pigs Invasion, from successes like Sid Caesar and Bill Parcells, from George W. Bush's decision-making after 9/11. Roberto complements his compelling case studies with extensive new research on executive decisionmaking. Discover how to test and probe a management team; when 'yes' means 'yes' and when it doesn't; and how to build real consensus that leads to action. Gain important new insights into managing teams, mitigating risk, promoting corporate ethics, and much more.
Book Synopsis The Power of Impossible Thinking by : Colin Cook
Download or read book The Power of Impossible Thinking written by Colin Cook and published by Pearson Prentice Hall. This book was released on 2006-01-30 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: 50,000 copies sold, now in paperback... If you can think impossible thoughts, then you can do impossible things!! The power of change: create new thinking for new solutions! Includes a new introduction demonstrating the "power of impossible thinking," plus access to exclusive book summary and authors' interview at the book's companion Web site. The Power of Impossible Thinking is about getting better at making sense of what's going on around you so you can make decisions that respond to reality, not inaccurate or obsolete models of the world. This bestseller reveals how mental models stand between you and the truth and how to transform them into your biggest advantage! Learn how to develop new ways of seeing, when to change to a new model, how to swap amongst a portfolio of models, how to understand complex environments and how to do "mind R and D," improving models through constant experimentation. Jerry Wind and Colin Crook review why it's so hard to change mental models and offer practical strategies for dismantling "hardened missile silos". Finally they show how to access models quickly through intuition, and assess the effectiveness of any mental model. Purchasers of this book gain access to audio summaries on a companion web site, along with a new half-hour interview with the authors.
Book Synopsis The Design of Things to Come by : Jonathan M. Cagan
Download or read book The Design of Things to Come written by Jonathan M. Cagan and published by Pearson Prentice Hall. This book was released on 2011-06-28 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: The iPod is a harbinger of a revolution in product design: innovation that targets customer emotion, self-image, and fantasy, not just product function. Read the hidden stories behind BodyMedia's SenseWear body monitor, Herman Miller's Mirra Chair, Swiffer's mops, OXO's potato peelers, Adidas' intelligent shoes, the new Ford F-150 pickup truck, and many other winning innovations. Meet the innovators, learning how they inspire and motivate their people, as they shepherd their visions through corporate bureaucracy to profitable reality. The authors deconstruct the entire process of design innovation, showing how it really works, and how today's smartest companies are innovating more effectively than ever before.
Book Synopsis Essential Lessons on Leadership (Collection) by : Jon Huntsman
Download or read book Essential Lessons on Leadership (Collection) written by Jon Huntsman and published by Pearson Education. This book was released on 2011-01-04 with total page 1126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understand the surprisingly robust links between morality and business success – and learn how to improve both! Learn how to succeed at the highest levels, without sacrificing the principles that make life worth living… discover why doing what’s right is the surest way to optimize and sustain business value… understand the powerful correlation between strong moral principles and business success… successfully promote “moral intelligence” throughout your organization! From world-renowned leaders and experts, including Jon M. Huntsman, James F. Parker, Doug Lennick, and Fred Kiel
Book Synopsis Book of Answers for a Young CEO by : Debasish Sahoo
Download or read book Book of Answers for a Young CEO written by Debasish Sahoo and published by iUniverse. This book was released on 2007-08 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: "When asked about the qualities needed to be an effective CEO, the answers are, to me, quite basic: Respect for, and ability to get along with, many different kinds of people, including those that do not share your views; The will to honor promises that one makes to his family, and the understanding that work and home life must be balanced." -Gerard J. Arpey, CEO, American Airlines "Be positive about challenges you encounter, for no matter how successful you are, you will encounter them." -William Clay Ford, Chairman, and CEO, Ford Motor Company "In the real world, leaders are rarely faced with a simple choice between right and wrong. Leaders can't avoid ambiguity, but must learn to be decisive in spite of it." -Sy Sternberg, CEO, New York Life "I think anyone willing to work hard for their goals, learn from their mistakes, and care about others has the "markings" to become a wonderful Leader." -Gary Kelly, CEO, Southwest Airlines "Find the right people and the right information to help you get the job done." -Ronald A. Williams, CEO, Aetna "Understand opportunities don't come in an envelope labeled "opportunities"; create value; be honest; have a vision; work hard." -Edward Zore, CEO, Northwestern Mutual "Success requires envisioning, embracing and driving change. The only way to turn potential into higher levels of achievements is to continuously change." -Susan M. Ivey, CEO, Reynolds American "Surround yourself with people smarter than you: People make it happen and great people are necessary to make any idea come alive." -Maggie Wilderotter, CEO, Frontier Communications "I believe hard work, dedication, and the willingness to take calculated risks, not only in my personal life, but in my career as well, have contributed to my success. Have a passion for whatever you do." -Robert A. Reynolds, CEO, Graybar Electric
Book Synopsis Winners Never Cheat by : Jon Huntsman
Download or read book Winners Never Cheat written by Jon Huntsman and published by Prentice Hall Professional. This book was released on 2005-03-23 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Next time someone tells you business can't be done ethically -- corners must be cut, negotiations can't be honest -- hand them Jon Huntsman's new book. He started with practically nothing, and made it to Forbes'list of America's Top 100 richest people. Huntsman's generous about sharing the credit, but in the 21st century, he's the nearest thing to a self-made multi-billionaire. Now, he presents the lessons of a lifetime: a passionate, inspirational manifesto for returning to the days when your word was your bond, a handshake was sacred, and swarms of lawyers weren't needed to back it up. This is no mere exhortation: it's a practical business book about how to listen to your moral compass, even as others ignore theirs. It's about how you build teams with the highest values, share success, take responsibility, and earn the rewards that only come with giving back. Huntsman's built his career and fortune on these principles. You don't live these principles just to 'succeed': you live them because they're right. But in an age of non-stop business scandal, Huntsman's life proves honesty is more than right: it's the biggest competitive differentiator.
Book Synopsis Proceedings of the Seventh International Conference on Management Science and Engineering Management by : Jiuping Xu
Download or read book Proceedings of the Seventh International Conference on Management Science and Engineering Management written by Jiuping Xu and published by Springer Science & Business Media. This book was released on 2013-09-25 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the proceedings of the Seventh International Conference on Management Science and Engineering Management (ICMSEM2013) held from November 7 to 9, 2013 at Drexel University, Philadelphia, Pennsylvania, USA and organized by the International Society of Management Science and Engineering Management, Sichuan University (Chengdu, China) and Drexel University (Philadelphia, Pennsylvania, USA). The goals of the Conference are to foster international research collaborations in Management Science and Engineering Management as well as to provide a forum to present current research findings. The selected papers cover various areas in management science and engineering management, such as Decision Support Systems, Multi-Objective Decisions, Uncertain Decisions, Computational Mathematics, Information Systems, Logistics and Supply Chain Management, Relationship Management, Scheduling and Control, Data Warehousing and Data Mining, Electronic Commerce, Neural Networks, Stochastic Models and Simulation, Fuzzy Programming, Heuristics Algorithms, Risk Control, Organizational Behavior, Green Supply Chains, and Carbon Credits. The proceedings introduce readers to novel ideas on and different problem-solving methods in Management Science and Engineering Management. We selected excellent papers from all over the world, integrating their expertise and ideas in order to improve research on Management Science and Engineering Management.
Book Synopsis Firms of Endearment by : Rajendra Sisodia
Download or read book Firms of Endearment written by Rajendra Sisodia and published by Pearson Prentice Hall. This book was released on 2003-01-30 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today’s best companies get it. From Costco® to Commerce Bank, Wegmans to Whole Foods®: they’re becoming the ultimate value creators. They’re generating every form of value that matters: emotional, experiential, social, and financial. And they’re doing it for all their stakeholders. Not because it’s “politically correct”: because it’s the only path to long-term competitive advantage. These are the Firms of Endearment. Companies people love doing business with. Love partnering with. Love working for. Love investing in. Companies for whom “loyalty” isn’t just real: it’s palpable, and driving unbeatable advantages in everything from marketing to recruitment. You need to become one of those companies. This book will show you how. You’ll find specific, practical guidance on transforming every relationship you have: with customers, associates, partners, investors, and society. If you want to be great—truly great—this is your blueprint. We’re entering an Age of Transcendence, as people increasingly search for higher meaning in their lives, not just more possessions. This is transforming the marketplace, the workplace, the very soul of capitalism. Increasingly, today’s most successful companies are bringing love, joy, authenticity, empathy, and soulfulness into their businesses: they are delivering emotional, experiential, and social value–not just profits. Firms of Endearment illuminates this, the most fundamental transformation in capitalism since Adam Smith. It’s not about “corporate social responsibility”: it’s about building companies that can sustain success in a radically new era. It’s about great companies like IDEO and IKEA®, Commerce Bank and Costco®, Wegmans and Whole Foods®: how they earn the powerful loyalty and affection that enables truly breathtaking performance. This book is about gaining “share of heart,” not just share of wallet. It’s about aligning stakeholders’ interests, not just juggling them. It’s about building companies that leave the world a better place. Most of all, it’s about why you must do all this, or risk being left in the dust... and how to get there from wherever you are now.
Book Synopsis The 86 Percent Solution by : Vijay Mahajan
Download or read book The 86 Percent Solution written by Vijay Mahajan and published by Pearson Education. This book was released on 2005-09-14 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most global businesses focus nearly all their efforts on selling to the wealthiest 14% of the world's population. It's getting harder and harder to make a profit that way: these markets are oversaturated, overcompetitive, and declining. The Invisible Market shows how to unleash new growth and profitability by serving the other 86%. Vihajan Mahajan offers detailed strategies and implementation techniques for product design, pricing, packaging, distribution, advertising, and more. Discover radically different 'rules of engagement' that make emerging markets tick, and how European and Asian companies are already driving billions of dollars in sales there. Mahajan shows how to understand and manage lack of infrastructure and media, low literacy levels, and 'unconventional' consumer behavior. Learn how to redefine the 'real' competition; tap into the informal economy and unconventional channels; leverage expatriate word-of-mouth; pool demand to reach critical mass; piggyback innovations on local tradition; and price and package to reflect local realities. As traditional markets become increasingly unprofitable, emerging markets become the #1 opportunity for growth.
Download or read book The Second Cycle written by Lars Kolind and published by Pearson Education. This book was released on 2006-04-24 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: You're growing fast. You're profitable. Maybe they're even writing great things about you in the business press. But, just beneath the surface, are you incubating the seeds of disaster? It's happened over and over again, in one industry after another, to companies ranging from IBM to Upjohn. In this book, Lars Kolind helps you uncover the earliest signs of trouble--and reignite a powerful new growth cycle. Drawing upon his own experience as the CEO who turned around Oticon, the world's top manufacturer of hearing aids, Kolind introduces a comprehensive toolbox for revitalizing mature organizations: tools for creating consensus around change, using staff more effectively, promoting innovation, and much more. Finally, he applies his tools to a wide range of organizations in decline, including the U.S. auto industry. The result: specific, practical advice you can adapt to galvanize your organization, no matter how well you're doing today.
Download or read book Financial Executive written by and published by . This book was released on 2005 with total page 774 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Business Management by : Hannie Badenhorst-Weiss
Download or read book Business Management written by Hannie Badenhorst-Weiss and published by Juta and Company Ltd. This book was released on 2008-02 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world is in a constant state of flux, and this influences the operations of every business and organisation. Business Management: A Contemporary Approach deals with these changes by covering the functions of a business or an organisation and then addressing the contemporary issues that affect them. These issues include globalisation, corporate entrepreneurship and citizenship, credit, diversity and HIV/AIDS. Every student of business and business manager needs to understand the importance of these issues and their influence on the operations of a business. Business Management: A Contemporary Approach also highlights the interdependency between the various business functions. This interdependency is very important for a business or organisation to operate as a whole.
Book Synopsis Don't Just Relate-- Advocate! by : Glen L. Urban
Download or read book Don't Just Relate-- Advocate! written by Glen L. Urban and published by Wharton School Publishing. This book was released on 2005 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional "push/pull" marketing no longer works. Even highly-touted customer relationship initiatives are failing. Smart companies are pioneering an entirely new route to higher margins and sustainable competitive advantage: customer advocacy. This book reveals how it works, why it works, and how to make it work for your company.