Diwali - one festival where I see everyone happy, smiling, enjoying, dressed up , etc. There is so much of excitement in the atmosphere around, be it home, office, colony, where ever. I hope every day in each ones life is like this day.
Happy Diwali and a more than a Prosperous New year!
Sunday, October 31, 2010
Sunday, October 24, 2010
The Need for Agile Innovation
by Jeffrey Phillips
We are in the midst of a paradigm shift in the way we think about our businesses. In a previous post I argued that the efficient use of ideas would become a new mantra, similar to the efficient use of capital. I think that’s true because it appears we’ve extended the concept of financial engineering and the efficient use of capital about as far as it can go. Additionally, we’ve reached the point where we aren’t creating any new value with the financial assets at our disposal. But that’s not the only reason for the paradigm shift. Along with the exhaustion of the efficient use of capital comes the increasing pace of change.
Now, the fact that the pace of change is increasing is not news to anyone, but the impact it will have to our business models and the way most businesses work is dramatic. Traditionally we’ve planned for long product or service development cycles and long lives for our products and services. It was taken as a given that most products would have a lifespan of many years or even decades, and that these products would create profits over the majority of those years. The tradeoff of a long investment in R&D and product development was a protected revenue stream over many years. For many reasons, the long-lived profitable product or service is falling by the wayside.
Any firm in any corner of the globe can complete with any other firm. Aggressive competition by firms that don’t feel the need to create new products and services – those that simply mimic existing products but drive down costs – is growing. That fact means that the days of long, profitable products and services are over. Any product can be quickly copied and delivered to the market, in some cases in just a quarter or two. Many countries that were once only able to mimic new products and brands are rapidly industrializing and moving quickly to create innovative new products and services of their own. This introduces a two pronged effect: your products and services are being copied and provided at less cost, and new innovations are being developed and presented to your customers as never before.
This loss of the long development cycle and long product life cycle means that firms must shift their strategies from long, arduous research and development cycles to more rapid understanding of customer needs and delivery of new products and services. It also means that firms must have more products and services in the innovation and development pipeline than ever before, and must launch more new products and services to keep pace with demand and competition. More profits will be attained in a shorter period of time as a firm plans for competition and obsolescence over shorter product life spans. This, in turn, reinforces the need for the efficient use of ideas, which will drive new product and service creation.
Trying to stick to a long development cycle coupled with a long product life cycle is probably risky, given the intense competition and the increasing pace of change, not to mention fickle customer attitudes. One comment I hear constantly within the management ranks of the firms we work with is “…when things get back to normal…” What we all have to realize is that we are defining a new normal, which may take several years to shake out. That new normal may reflect a US population less likely to spend and more likely to save, and a growing BRIC population ever more interested in spending and acquisition, just as a few examples. Any firm that assumes its existing business models and methods will sustain it through this period of change is missing an opportunity for renewal. Now is the time to determine the new business models, use of insights and ideas and to recraft internal processes to become more nimble, more agile and more innovative.
We are in the midst of a paradigm shift in the way we think about our businesses. In a previous post I argued that the efficient use of ideas would become a new mantra, similar to the efficient use of capital. I think that’s true because it appears we’ve extended the concept of financial engineering and the efficient use of capital about as far as it can go. Additionally, we’ve reached the point where we aren’t creating any new value with the financial assets at our disposal. But that’s not the only reason for the paradigm shift. Along with the exhaustion of the efficient use of capital comes the increasing pace of change.
Now, the fact that the pace of change is increasing is not news to anyone, but the impact it will have to our business models and the way most businesses work is dramatic. Traditionally we’ve planned for long product or service development cycles and long lives for our products and services. It was taken as a given that most products would have a lifespan of many years or even decades, and that these products would create profits over the majority of those years. The tradeoff of a long investment in R&D and product development was a protected revenue stream over many years. For many reasons, the long-lived profitable product or service is falling by the wayside.
Any firm in any corner of the globe can complete with any other firm. Aggressive competition by firms that don’t feel the need to create new products and services – those that simply mimic existing products but drive down costs – is growing. That fact means that the days of long, profitable products and services are over. Any product can be quickly copied and delivered to the market, in some cases in just a quarter or two. Many countries that were once only able to mimic new products and brands are rapidly industrializing and moving quickly to create innovative new products and services of their own. This introduces a two pronged effect: your products and services are being copied and provided at less cost, and new innovations are being developed and presented to your customers as never before.
This loss of the long development cycle and long product life cycle means that firms must shift their strategies from long, arduous research and development cycles to more rapid understanding of customer needs and delivery of new products and services. It also means that firms must have more products and services in the innovation and development pipeline than ever before, and must launch more new products and services to keep pace with demand and competition. More profits will be attained in a shorter period of time as a firm plans for competition and obsolescence over shorter product life spans. This, in turn, reinforces the need for the efficient use of ideas, which will drive new product and service creation.
Trying to stick to a long development cycle coupled with a long product life cycle is probably risky, given the intense competition and the increasing pace of change, not to mention fickle customer attitudes. One comment I hear constantly within the management ranks of the firms we work with is “…when things get back to normal…” What we all have to realize is that we are defining a new normal, which may take several years to shake out. That new normal may reflect a US population less likely to spend and more likely to save, and a growing BRIC population ever more interested in spending and acquisition, just as a few examples. Any firm that assumes its existing business models and methods will sustain it through this period of change is missing an opportunity for renewal. Now is the time to determine the new business models, use of insights and ideas and to recraft internal processes to become more nimble, more agile and more innovative.
Interviews!
I have been now working from the past nine years. Given multiple interview and taken multiple interviews. Most of the interviews that the companies take now a days is technical rounds that only test the aptitude of the candidate. Do you know what are HTTP sessions, multithreading, etc. I have also been interviewed along these lines itself. It was good till I had some 3-4 years of experience. Soon I realized that just knowing the technical aspects is not enough. That is where most of us go completely wrong. I will really not speak for big companies but surely for small companies the attitude and the organization culture is so much important to the candidate. How many times have we (as interviewees) turned around to ask questions like who will be my manager, can I have a chat with, can I know him a little more personally, can I just walk through the office and talk to some people, can I on board for just a week to see I can adjust to environment, etc. Not many of us do that. Do companies allow that? I see no harm in it at all. You need people, smart people, sharp people, thinking people, solution oriented approach, you need finally people with ATTITUDE. We need people who can think out of the box, people who can communicate well, people who are ambitious, people who are very confidant! We need to focus on the core competency of the job and not the technicalities. If the core competencies are strong, technicalities will fall in place earlier than you think.
I really hope the interview questions soon change and focus on core competencies, attitude and ability to gel with organization culture.
I really hope the interview questions soon change and focus on core competencies, attitude and ability to gel with organization culture.
Wednesday, October 6, 2010
Siya and her stories
Siya and her stories.....
Siya - Which is your favorite movie, Lafange Parinde, Anjaana Anjaani, etc, etc etc or "BADAANG"
Purwa - Dear, it is "DABAANG" and not "BADAANG"
(She got her paper and her pencil)
Siya - See, "b" is ulta of "d", then why can "DABAANG" and "BADAANG" be ulta pulta....
...
:-)
16th Oct, 2010
Siya is back with her stories.....
Today I took Siya to the doctor for her vaccination.
Doctor - (while he was getting his injection ready). I have bad memory, I again forgot your name. Whats your name? (Basically he wanted to distract her). (The injection was ready)
Siya - My name is Siya. (And she was already vaccinate...d by now)
SIYA - I SAID MY NAME WAS SIYA AND NOT SUEE (as in needle in Hindi) AA!
28th Oct, 2010
Siya and her stories....
Siya - Mom, I have my dance lessons today, please be on time.
Purwa - I have office dear and I am feeling uncomfy today because I took panga with my boss.
Siya - What is panga?
Purwa - I messed up.
Siya - I do that with my cupboard everyday, you always get it back to order right, u r a champ at it!
Purwa - Cupboard aur boss mein farak hai dear
Siya - Kya farak hai, dono aapke samne nahi bolte
26th Nov, 2011
Siya and her stories....
I had gone out of Mumbai for work and when I called up my mom she mentioned that Siya did not go to school today. I told her to give the phone to Siya....
Purwa - Siya, I heard you missed school today!
Siya - Not at all! I never miss school, I only miss you...
...She is a sweetheart, isn't she :-)
Siya - Which is your favorite movie, Lafange Parinde, Anjaana Anjaani, etc, etc etc or "BADAANG"
Purwa - Dear, it is "DABAANG" and not "BADAANG"
(She got her paper and her pencil)
Siya - See, "b" is ulta of "d", then why can "DABAANG" and "BADAANG" be ulta pulta....
...
:-)
16th Oct, 2010
Siya is back with her stories.....
Today I took Siya to the doctor for her vaccination.
Doctor - (while he was getting his injection ready). I have bad memory, I again forgot your name. Whats your name? (Basically he wanted to distract her). (The injection was ready)
Siya - My name is Siya. (And she was already vaccinate...d by now)
SIYA - I SAID MY NAME WAS SIYA AND NOT SUEE (as in needle in Hindi) AA!
28th Oct, 2010
Siya and her stories....
Siya - Mom, I have my dance lessons today, please be on time.
Purwa - I have office dear and I am feeling uncomfy today because I took panga with my boss.
Siya - What is panga?
Purwa - I messed up.
Siya - I do that with my cupboard everyday, you always get it back to order right, u r a champ at it!
Purwa - Cupboard aur boss mein farak hai dear
Siya - Kya farak hai, dono aapke samne nahi bolte
26th Nov, 2011
Siya and her stories....
I had gone out of Mumbai for work and when I called up my mom she mentioned that Siya did not go to school today. I told her to give the phone to Siya....
Purwa - Siya, I heard you missed school today!
Siya - Not at all! I never miss school, I only miss you...
...She is a sweetheart, isn't she :-)
Common Wealth Games and Shiamak
After all the "shor sharaba" about the arrangements at the Common Wealth Games, The opening ceremony washed off all! And somewhere I feel, we really need to thank Shiamak and SPIDA for really choreographing a awesome opening ceremony. He did a great job! Also, I am wondering that he would be in a lot of pressure because firstly it is Common Wealth Games and secondly the country's name in itself was at stake. The opening ceremony was the first piece of event where "India was shinning" for CWG. Thanks Shiamak for making us proud that we are your students and making India proud of you!
Siya and her stories
Siya and her stories....
Purwa - We won 5 gold medals today in common wealth games, awesome right?
Siya - But I did not stand on the stand at all!
Purwa - What?
Siya - You only said na, WE won 5 gold medals!
Purwa - Are duffer, India won 5 golf medals, now don't ask how can India win pls!
Siya - Tell na, how can India win?
Purwa - Because we stay in India and people represent India.
Siya - Sometime you say we stay in Tardeo, then Mumbai, and now India :-(
(I took a map and explain her what the above means)
...Siya - That means this paper won! (what she meant is the Map won)
My God, kids.....
Purwa - We won 5 gold medals today in common wealth games, awesome right?
Siya - But I did not stand on the stand at all!
Purwa - What?
Siya - You only said na, WE won 5 gold medals!
Purwa - Are duffer, India won 5 golf medals, now don't ask how can India win pls!
Siya - Tell na, how can India win?
Purwa - Because we stay in India and people represent India.
Siya - Sometime you say we stay in Tardeo, then Mumbai, and now India :-(
(I took a map and explain her what the above means)
...Siya - That means this paper won! (what she meant is the Map won)
My God, kids.....
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