Fear of Loss of Revenues


If a firm’s innovation renders its existing products or services noncompetitive, the firm loses the revenues from the old product. Since a firm’s stock value usually depends on expected earnings, such a loss in revenues and accompanying profits may result in a drop in a firm’s value. The fear of such a loss may result in the firm being reluctant to adopt the invading innovation. Such a loss in  revenues can also have organizational consequences. If the source of power for the most powerful in the firm is the revenues from the old product, the political coalition may impede implementation.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact Asif J. Mir.

Information and Knowledge Entrepreneurs


People should be proactive in assessing, developing and applying their personal knowledge and experience and thinking through the implications of the information and knowledge society. Assessing its  impact upon others may enable business opportunities to be identified.

Much depends on the energy and imagination of information and knowledge entrepreneurs. They need to identify specific opportunities being created by the greater availability and accessibility of information and knowledge, and craft distinctive i and knowledge based products and services.

All entrepreneurs have to identify opportunities to add value by meeting requirements that are not being addressed, and they must be focused and tenacious and possess a clear sense of direction. Most entrepreneurs need also to be tough, pragmatic and resilient. Additionally, information and knowledge entrepreneurs need the following qualities:

  1. They must know how to acquire, develop, share, manage, exploit and capitalize on information, knowledge and understanding, and be able to help and enable others to use and apply them effectively. This may require combinations of emerging technologies to connect relevant people and organizations together, and the competencies to network with others, work and learn in new ways in order to create value, lead and manage virtual teams, and establish and manage knowledge businesses.
  2. They need curiosity and drive to undertake intelligent searches and to be able to judge or determine the significance, relevance and value of what they uncover. Many more people can access information than assess it or use it effectively. Understanding where information has come from, the underlying assumptions and how it has been compiled can prevent an enterprise or a course of action from being built upon foundations of sand.
  3. They require enough understanding of systems to be able to use an appropriate range of technologies to identify and assess relevant sources of information, knowledge and understanding. However, technical expertise is unlikely to be enough. Communication and relationship building skills are also required to interact with information providers and bring together the combination of experience and knowledge needed to assemble a package that has market value.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact Asif J. Mir.

Low-cost Differentiated Products


A product is differentiated if customers perceive it as having something valuable to them that other products do not have. A firm can differentiate its products by offering features that competitors’ do not have. A firm can also differentiate its products by being the first to introduce the products. Since such products are the only ones in the market, they are, by default, differentiated since no other product has their features.

Two products with identical features can still be differentiated by virtue of their locations. One differentiating factor may be the ease of access to the products.

A firm’s products may also be differentiated by the service the customer would get if such service were ever needed

The mix of products that a firm sells can also be a source of product differentiation. Customers who prefer one-stop shopping would find such product mixes valuable.

A firm’s reputation can go a long way toward making customers perceive its products as being different.

In order to deliver low-cost or differentiated products,  a firm must perform a series of activities. The different function s that perform each of these activities are called the firm’s value-chain.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact Asif J. Mir.

The Profit Chain


Starting from end of the chain, a firm makes profits by offering  products or services at a lower cost than its competitors or by offering differentiated products at premium prices that more than compensate for the extra cost of differentiation. The question is , how do low cost and differentiated products come about, and why is it that some firms can offer them better than others?

A firm’s competencies, or skills are its ability to perform the activities that underlie the offering of low cost or differentiated products or services to customers. These abilities can be in anything from designing high performance automative engines to finding attractive markets and locating the right products in the right position in these markets. Endowments are attributes other than skills, such as brand names, patents, reputation, geographic location, client relations and distribution channels, which allow a firm to leverage its competencies and get more out of them. Competencies and endowments reinforce each other and together underpin the firm’s profitability. They are themselves a function of technological and market knowledge.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact Asif J. Mir.

The leaders are never satisfied


Like great artists and athletes, all top performers know they cannot stand still for long. They always look for ways to improve.They don’t think they’ll ever be satisfied.

Once you think you’re where you want to be, you are not there any more. The greatest challenge you have as you become successful is never to rest on your laurels, never to feel like you’ve done it. The minute you feel like you’ve done it, that’s the beginning of the end.

Adopt a never finished, never satisfied mindset. Work to keep upping the level of your skills. Once you’re labeled the best you want to stay up there, and you can’t do it by loafing around. If you don’t keep changing, you are history.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact Asif J. Mir.

The Blind Leading the Blind


Although many consultancies have a public commitment to learning from, and sharing, best practice, this has not stopped some of them, and those who use their services, from jumping at techniques such as re-engineering as if they represent a revelation. This is as if we are into begging, stealing and borrowing like there is no tomorrow.

Mindless copying can result in the spread of panaceas, hype  and misunderstanding, and gives added momentum to the latest craze. While it may be good news for those who ride bandwagon, it is not so hot for those whose toes get in the way.

When external suppliers, such as consultants, do get hold of  a best practice gem, their motivation is often to spread it around their client base as soon as possible. Thus the corporation’s competitive edge can quickly become industry commonplace

Some consultants receive as good as they give. Companies invite various experts to pitch for business and then do it themselves, using the best of the various ideas they have picked up. The learning organization is a voracious and insatiable plunderer and consumer of intellectual capital.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact Asif J. Mir.

Adaptive Learning and Generative Learning


The view of learning organizations emphasizes increased adaptability. Given the accelerating pace of change, or so the standard view goes, the most successful corporation will be something called a learning organization, a consumately adaptive enterprise. Examples of traditional authoritarian bureaucracies that responded too slowly to survive in changing business environments are legion.

The impulse to learn, at its heart, is an impulse to be generative, to expand our capability. This is why leading corporations are focusing on generative learning, which is about creating, as well as adaptive learning, which is about coping.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact Asif J. Mir.

Judgmental Forecasts


Judgmental forecasts are based on subjective views — often the opinions of experts in the field.  Sometimes there is a complete absence of data, and at other times the data is unreliable or irrelevant to the future.

Quantitative forecasts are always more reliable, but when you don’t have the necessary data, you have to use a judgmental method. There are five widely used methods.

Personal insight. This uses a single person who is familiar with the situation to produce a forecast based on his/her own judgment. This is the most widely used forecasting method  — but is unreliable abd often gives very bad results.

Panel Consensus. This collects together a group of experta to mak experts to make a fore cast. If there is no secrecy  and the panel talk talk freely and openly, you can find a genuine consensus. On the other hand, there may be difficulties in combining  the views of different people.

Market surveys. Sometimes even groups of experts don’t have enough knowledge to give a reasonable forecast about, for example, the launch of a new product. Then market surveys collect data from a sample of potential customers, analyse their views and make inferences about the population at large.

Historical analogy. If you are introducing a new product, you might have a similar product that you launched recently, and assume that demand for the new product will follow the same pattern. If a publisher is selling a new book, it can forecast the likely demand from the actual demand for a similar book it published earlier.

Delphi method. For this you contact a number of experts by post and give each a questionnaire to complete. Then you analyze the replies from the questionnaire to complete. Then you analyze the replies from the questionnaires and send the summaries back to experts. You ask them if they would like to reconsider their original reply in the light of the summarized replies from others. This is repeated several times — usually between three and six — until the range of opinions is narrow enough to help with decisions.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact Asif J. Mir.

Dynamic Goal-setting


If you want to succeed in business, you need to start with a good goal-setting program. Seek out professional help in this area if you are not sure how to identify and set your own goals. A few tips to get you started:

  1. Remember to make your goals specific. the only goals that stand a chance of being achieved are the ones that are clear enough to become part of a mind-set and visualibibg press. The clearer the goal, the easier to accomplish.
  2. Have a deadline for achievement. You can have a terrific goal, t wander around aimlessly without a drop dead date for its achievement. Someone once said that a goal is dream with a deadline.
  3. Consider and anticipate your obstacles. Know where the pitfalls might occur, and devise a plan to work around such impediments.

Above all else, make sure there is a personal benefit to achieving the goal, or it will not serve to motivate you. You need to reward yourself with a vacation.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact Asif J. Mir.

Change and Challenges


Executing change presents major challenges. Many organizations underestimate the time and resources needed for change; do not attend sufficiently to coordination and integration of activities;  and fail to build capability for change execution. Typically, change managers get into a fire-fighting mode, waste precious time, energy and resources on dealing with crises, and then over a period of time get cynical and de-motivated.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please contact Asif J. Mir.

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