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5 Things Business Owners do Better with Lean Business Planning

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5 Things Business Owners do Better with Lean Business Planning Original posted at SBA.gov By Tim Berry Don’t think of a business plan as a formal document that’s hard to do, useful only for startups, bank loan applications, and seeking investment. Think of it as a lean plan that’s just lists and tables and is vital for optimizing business management. 1. Manage strategy Strategy is focus. Most small businesses have trouble setting and maintaining focus on priorities because there’s always a new crisis interfering, or a new opportunity, real or perceived, distracting them like a shiny new thing. Not that...

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Special Report on Artificial Intelligence - Download Free until August 31

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The return of the machinery question After many false starts, artificial intelligence has taken off. Will it cause mass unemployment or even destroy mankind? History can provide some helpful clues, says Tom Standage THERE IS SOMETHING familiar about fears that new machines will take everyone’s jobs, benefiting only a select few and upending society. Such concerns sparked furious arguments two centuries ago as industrialisation took hold in Britain. People at the time did not talk of an “industrial revolution” but of the “machinery question”. First posed by the economist David Ricardo in 1821, it concerned the “influence of machinery on...

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The resilient workforce

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How innovative companies engage and motivate employees to perform to the best of their ability, creating an adaptable, high-performing workforce that helps organisations to become more resilient More from Economist Intelligence Unit Perspectives Resilient organisations may be built by great leaders, but they are sustained by empowered employees and corporate cultures, where they are encouraged to be innovative and take measured risks. Such cultures aren’t easily forged. They require a willingness on the part of business leaders to invest in workforce development and to trust employees to make decisions that will benefit the business.  Research shows that companies which create...

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The Business of Data: evidence based decision-making

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More and more organisations are collecting and storing vast amounts of data. Yet for all the excitement generated by the potential of this data to transform business models—turning it directly into cold, hard cash can prove difficult. Despite the obvious benefits of using superior data to drive value-added marketing strategies, companies are facing many barriers, including regulatory uncertainty, consumer privacy issues, security concerns and budget constraints. So while the possibilities of digital disruption and big data are endless, companies need to think very carefully about how to execute their plans to avoid some common pitfalls. Read report in English | 日本語

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The path to self disruption: Nine steps of a digital transformation journey

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From EIU Perspectives Digital disruption is a top-of-mind issue in the C-suites of every industry. Senior executives of traditional firms are looking over their shoulders and wondering if they are in the crosshairs of a digital insurgent. Far-sighted executives are asking how they can disrupt themselves by creating a new digital business—and responding with their own digital transformation journey. Journeys demand roadmaps, and execution requires deadlines. While each business’s transition will be unique and complex, it may be helpful to present nine key steps that are consistent across different industries. These are thought starters for those who are planning to disrupt themselves and launch their own digital...

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