The primary objective of all business leaders is to grow stakeholder value. That means the organisation must not only make money but do so in a sustainable way. Sustainable growth means the business is run in a way that facilitates success today and in the future. Let us take the example of human capital. You hire qualified and experienced people today who bring value to the organisation instantly. Such a great hire will deliver success in the short term. However, if the organisation does not have an adequate human capital development strategy to help staff continuously learn and upgrade skills…
Build your business model on your strategic foundation to win
When you wake up each morning, do you have clarity of what purpose, vision and goals in the short, medium and long term? When you report to your workplace, do you have the driving force within you to show up daily and on time even if is raining? What is yours why? What is your purpose? The same question must be answered by the business. Why does the business exist? Many of my clients usually ask, Mr Strategy: “What is the purpose of the business of your company Summit Consulting Ltd?” Read on to see the answer to this common…
What is strategy? What is your business model? Which is which?
Strategy is all about making choices for the business – what you will do and what you will not do. Do you go for option A or B? You do not have to go for both options because then you have not chosen. Remember, leaders, need a strategy to confront challenges, a pandemic or uncertain times. This means that you make a strategy to respond to scarcity. If you do not choose ie. You try to do both options A and B at the same time, you risk failing to execute since you spread your limited resources to multiple options…
What is an ecosystem business model?
“Ecosystem” is one of the most commonly used, and of course, abused words. What is an ecosystem? It is our football coach in the primary who loved to say to us “don’t stay with the ball, pass it on. Get the ball, and quickly pass it on to your teammates.” And I think that is where the idea of chasing the ball came from. For the team to win, players must work as a team. If one gets a ball and tries to run with it alone, they may not go far. To win, focus on passing on the ball…
Providing leadership during tough times
The test of a great leader is when things are tough. Anybody can lead especially when there is no problem. The need for a leader comes when the business is collapsing, people are not happy or the organization is under threat due to legal battles. Carlos Ghosn was nicknamed Mr Fixer after spearheading the turnaround of Nissan from its near-bankruptcy in 1999. By the early 2000s, the company had emerged from the crisis. Overcoming challenges is what makes one become a leader. When you hear or read about Nelson Mandela’s name that has been written in world history, it is…
Understanding cybersecurity and computer forensics
Security is a human right. It gives you peace of mind to focus and thrive. Everyone feels safer at their home. This is because of a special feeling of being in control of the environment. You are so familiar with your home and neighbourhood that you feel safe and confident. Depending on your income level, at home, you have implemented basic physical security in terms of access control. In addition to the doors on each room in your house, you have implemented burglar proof in all windows and doors. And that is not enough, you have a tall perimeter wall,…
