“Knowledge” is now known to be so important to business performance that it has become a sub-field of its own within strategy research. Technology-rich industries clearly rely on large quantities of technical knowledge, accumulated over many years, and protected by secrecy and sometimes by patents. But knowledge is also important in many other sectors, from retailers who use knowledge about customer behavior to the likes of Amazon.com and eBay, who voraciously gather information and insight about the best approach to ...Continue Reading → Share
HR gets dynamics
See recording of a live workshop, including working models you can use. This session at the People Analytics conference showed how dynamic modeling can help HR strategy and planning. The HR community seems to have got the Analytics and Big Data bug, and plenty of other sessions at the conference showed a range of sophisticated approaches offering big value for the organisations using them. (I keep meeting ...Continue Reading → Share
The inclusion of data and knowledge in the strategic architecture reflects the existence of two classes of entity — the “material” factors we have dealt with as tangible resources, and “informational” factors that also can be collected, lost, stored and used. The simplest informational factor is just data—specific pieces of information about something of importance. This can be illustrated by extending the call-center example from Briefing 27. At that point, we looked at the staff skills required to serve customers ...Continue Reading → Share
Getting better value from the value-curve
An example of a framework with widespread relevance … Just had an enquiry from a professor taking the online course, wanting to know if the customer ‘choice pipeline‘ and loyalty states could help assess the impact of a summer school initiative on reducing the high drop-out rate of students.
If state-of-mind is to be useful in managing, we need to find reliable measures for them. A full exploration of research methods is beyond our scope here, but since the aim is to understand how strongly people are feeling on an issue, scales that in some way indicate a range from “empty” to “full” will often be appropriate. A common example is the Likert scale, which seeks ratings on (usually) a 5-point scale from “strongly disagree” to “strongly agree“.
It ...Continue Reading → Share