Wednesday, June 30, 2021

Key Tips on Negotiation

 Key Tips on Negotiation from the book, Never Split the Difference, by Chris Voss.

  • A good negotiator prepares, going in, to be ready for possible surprises; a great negotiator aims to use her skills to reveal the surprises she is certain to find. 
  • Don’t commit to assumptions; instead, view them as hypotheses and use the negotiation to test them rigorously. 
  • People who view negotiation as a battle of arguments become overwhelmed by the voices in their head. Negotiation is not an act of battle; it’s a process of discovery. The goal is to uncover as much information as possible. 
  • To quiet the voices in your head, make your sole and all-encompassing focus the other person and what they have to say. 
  • Slow. It. Down. Going too fast is one of the mistakes all negotiators are prone to making. If we’re too much in a hurry, people can feel as if they’re not being heard. You risk undermining the rapport and trust you’ve built. 
  • Put a smile on your face. When people are in a positive frame of mind, they think more quickly, and are more likely to collaborate and problem solve (instead of fight and resist). Positivity creates mental agility in both you and your counterpart

Tuesday, June 29, 2021

The Promise of 5G - Accelerates Digital Enablement

 The Promise of 5G - Accelerates Digital Enablement 

Use cases example:
  • IOT, Surveillance
  • Networking redundancy option
  • Industrial Automation Robotics
  • Edge Architecture, AR/VR 

Source Credit: Gartner

Sunday, June 27, 2021

Customer Experience Principles for Business Growth

The ten principles behind great customer experiences defined by Matt Watkinson in his book 

  • 1. Great customer experiences strongly reflect the customer’s identity 
  •  2. Great customer experiences satisfy our higher objectives 
  •  3. Great customer experiences leave nothing to chance 
  •  4. Great customer experiences set and then meet expectations 
  •  5. Great customer experiences are effortless 
  •  6. Great customer experiences are stress free 
  •  7. Great customer experiences indulge the senses 
  •  8. Great customer experiences are socially engaging 
  •  9. Great customer experiences put the customer in control 
  •  10. Great customer experiences consider the emotions

Thursday, June 24, 2021

Creating Value by Digital Transformation

 Mckinsey writes how Boards can create value via Digital Transformation.

Digital transformations aren’t about being digital; they’re about creating value. That aligns with the board’s most important mandate, and the board can be particularly helpful in assessing value across three vectors: 
  • Scale. The typical aspirations of digital transformations often lead to changes at the margins (5–10 percent increases over the previous year). This is fueled by an insufficient understanding of what digital can do. As a rule of thumb, digital initiatives should have the potential to change at least 20 percent of operating profits. Boards can push their CEOs to shoot higher. 
  • Source. Technology is often an efficiency conversation about cost savings. But the greater value of tech is in its ability to build value. Recent McKinsey research into cloud economics, for example, has shown that as much as 75 percent of the $1 trillion at stake in cloud will come from business innovation. Directors can make sure that management is exploring ways to tap tech to create new sources of value. 
  • Scope. Short-term pressures can overtake any business, especially when the market is volatile. Digital transformations, however, require long-term commitments to reap the full rewards they can deliver. Boards can press their CEOs to make sufficient expenditures for long-term initiative

More here 

Tuesday, June 22, 2021

Quotes - How to Shape Vision and Leadership

8 catchy quotes to shape your vision of leadership and management by Leslie Petrequin:

1. “Play chess not checkers”. 
2. “How you handle *the bus* says a lot about your management style.” 
3. “How you handle *the bus* says a lot about your management style.” 
4. “The currency of real networking is not greed but generosity.” 
5. “Forget a Mentor, Find a Sponsor.” 
6. “You are the average of the 5 people you spend the most time with ~Jim Rohn”. 
7. “Hire for attitude, train for skills”. 
8. “You can’t find people you are not looking for”. 

More here

Wednesday, June 09, 2021

Strategy elements under the hood

 What every strategy design needs to consider and address by Jeroen Kraaijenbrink  

  • Value Proposition: What products and services you offer, how you offer them, and what added value they have for the customer. 
  • Customers & Needs: The organizations and people you serve and which needs of them you fulfil. 
  • Competitors: Others that your customers will compare you to in deciding whether or not to buy your products or services. 
  • Resources & Competencies: What you have, what you are good at, and what makes you unique. 
  • Partners: Who you work with and who makes your products or services more valuable. 
  • Revenue Model: What you receive in return for your offer, from whom, how, and when. 
  • Risks & Costs: What financial, social, and other risks and costs your bear and how you manage these. 
  • Values & Goals: What you want, where you want to go and what you find important. 
  • Organizational Climate: What your culture and structure look like and what is special about them. 
  • Trends & Uncertainties: What happens around you that affects your organization and what uncertainties you face.
More on this topic at Forbes

Tuesday, June 08, 2021

Australias AAA Rating is Safe

From AFR 

The world’s biggest credit rating agency gave a vote of confidence to Australia’s ‘‘strong’’ economic rebound and suppression of the COVID-19 virus. 

The endorsement removes the threat of a downgrade since S&P put Australia on a ‘‘negative’’ outlook at the peak of pandemic panic in April last year and which could have increased the cost of borrowing for the $1.6 trillion in federal government debt projected over the next decade. 

S&P forecasts the federal budget deficit to shrink faster than the government’s projections because the rating agency assumes the iron ore price will be higher than the government’s conservative assumption of $US55 a tonne.