We have spoken to many senior leaders who are frustrated with their product development processes and who believe that despite their best efforts, most products move forward because of “gut feel” rather than a detailed and consistent market assessment. Developing solid rationale and requiring a business case that includes an appropriate market assessment should be a requirement for advancing a new product or service concept to market. The business case, and its market assessment section, …Read MoreThis entry was posted in Market Effectiveness, on October 11, 2017
There are multiple business and workforce trends occurring that are affecting every business, large and small, in every industry that will require senior leaders to rethink how they acquire, utilize and manage a workforce that consists of employees, temps and contractors. The following trends have a greater impact on middle market companies. …Read MoreThis entry was posted in Information Technology, Manufacturing and Distribution, Market Effectiveness, Organizational Development, Talent Management, on October 6, 2017
‘Anything that won’t sell, I don’t want to invent.’ – Thomas Alva Edison
Not only did Edison distinguish himself through his technical acumen and limitless perseverance, but as this quote suggests he also possessed rare commonsense and a willingness to step into his customer’s shoes. Many of his contemporaries …Read MoreThis entry was posted in Information Technology, Market Effectiveness, on April 13, 2017
Every leadership team should be asking questions about their social networking strategy. They wonder how Twitter, LinkedIn, Facebook, Google Plus, CRM, Sales Force, Customer Portals, Websites, Blogs and other platforms can be utilized for business development purposes. We have been developing those thoughts at Group50 for the last 14+ years. We have spoken with hundreds of companies, and have found a wide disparity between their efforts and the type of business they are in. Although not a formal study, our general findings are as follows: …Read MoreThis entry was posted in Case Studies, Market Effectiveness, Strategic Execution, on February 11, 2017
Successful enterprises across the globe have leveraged on the vast experience, in-depth knowledge and understanding of a strategic planning consultant that is capable of working with senior leadership on strategic execution: been there, done that. This effort is a cornerstone of gaining competitive advantage and thriving in highly competitive marketplaces. An effective strategic execution program facilitated by an experience strategic planning consultant helps …Read MoreThis entry was posted in Business Transformation, Exit Planning and Transition, Global Initiatives, Information Technology, M&A, Manufacturing and Distribution, Market Effectiveness, Organizational Development, Strategic Execution, on November 8, 2016
Every organization views Customer Service as a critical function for their business. It has a significant impact on your Voice of the Customer (VOC). Customer service is on the front line of interfacing with the customer, but it isn’t the only function that interfaces with your customers. Finance, Shipping, Sales and Marketing also play an important role in customer service. The Customer Service group acts …Read MoreThis entry was posted in Continuous Improvement, Market Effectiveness, Weekend Thought, on June 10, 2016
The importance of proximity to the customer is a greatly recognized principle that can derive tangible benefits for any organization that desires to improve market synergies. China vs. Mexico is quickly becoming a market proximity consideration. The results can be multiple fold. First, proximity increases customer loyalty, it gives the organization greater flexibility to execute changes faster and adapt based on the voice of the customer. The ultimate result …Read MoreThis entry was posted in Global Initiatives, Manufacturing and Distribution, Market Effectiveness, Mexico, Weekend Thought, on May 27, 2016
Executives are faced with a conundrum when they are trying to decide on when and how to hire a consultant. There are typically 5 issues that nag an executive during this decision making process. Those issues typically go along these lines:
This entry was posted in Exit Planning and Transition, Global Initiatives, Manufacturing and Distribution, Market Effectiveness, Organizational Development, Strategic Execution, Weekend Thought, on February 20, 2016
- Consultants are too expensive; especially the top tier consulting firms and they don’t get real, measureable value
- Every professional who is unemployed or underemployed is a consultant until their next job and they don’t have the appropriate bandwidth; but they are cheap
- Finding a consultant or consulting firm who is a cultural fit with the organization
- Finding a consulting firm who has all the functional resources required for an entire project.
- When to admit that we really can’t solve the problem ourselves
I was recently working with a division of a $1B company who was having problems with the introduction of a highly engineered product in a foreign country. They were struggling with manufacturing a complex component in a new product that was introducing a disruptive technology.
They recognized that this new product introduction was complex and that successfully introducing this product was the basis for their Market Effectiveness. They knew that that new product introduction programs typically generate their highest sales and profit margins in the fist 12 months after implementation. Disruptive product programs that are poorly implemented …Read MoreThis entry was posted in Manufacturing and Distribution, Market Effectiveness, Strategic Execution, Weekend Thought, on October 17, 2015
We continue this series of blogs pertaining to global business practices and some of the lessons learned from decades of experience implementing global expansion strategies for Fortune 500 companies. Middle market enterprises desiring to start or continue their international and multinational expansions are well advised to reflect on some of these critical factors when creating their distribution strategy.
One of the early strategies to enter a foreign market is that of setting up foreign distribution. …Read MoreThis entry was posted in Global Initiatives, Market Effectiveness, Strategic Execution, Weekend Thought, on September 25, 2015
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- Digital Technology as a Strategic Asset
- 12 Purchasing Best Practices
- Group50® Recaps 2018, Announces Addition of Lara Abrams to the Group50 Team
- The Need for Technology Succession Planning