Before speaking about the KPIs, let me explain how we use AI and machine learning so that we know how to define the KPIs with the specified characteristics to support AI as opportunities for data gathering.
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Balanced scorecard is a combination of different KPIs in finance, customer perspective, internal processes, learning and innovation in any organization. What makes AI (artificial intelligence) and ML (machine learning) to be remarkably considered is the power that these two factors bring in data gathering, root cause analysis and data understanding...
In all businesses, there is a time to plan for doing projects and executing strategies. In my experience, I have seen many meetings that leaders are confused in approaching and differentiating these two topics.
Whenever we go to a concert, we know a lot about the singer. The history of the singer, when and where she/he started, the techniques, style and previous tracks, all and all are clear for us. Wait a minute, please! How about the band and the players? Do we know them as much as we know the singer?
5 must have KPIs in 2021 balanced scorecards
Finally, COVID vaccine is out and business leaders are more hopeful to get back to what they had in 2019. It's the beginning of the year and most probably strategy formulation of companies has already happened. Hope you agree that strategy formulation is not a general prescription and it differs from business to business. Therefore, no one can come...
Sometime ago, I dedicated a whole article to organizational innovation & strategy and different types of innovation happening in an organization. I categorized innovation types into A) Incremental and B) Disruptive and we learned that they are both useful and important.
Crisis management is not a new topic and strategic planning during the crisis is not either. What makes us think more is the transition period and post-crisis time. What companies did before is the past and it is gone. What we can do is to learn that
Regardless of the size of your company, number of people led by you and the rank of your organization among competitors, it is good to measure the health level of our company to figure out "How is it doing?"
There are many definitions for Generation Z and the way how to determine their age range. From different articles and blogs to well known sources like Wikipedia - the one that I personally believe is the most complex one at the time of writing this article (December 2020). Authors classify Z-ers as people born after 1995.
Corporate governance and crisis leadership
Corporate governance is the manner of boards in setting a direction for corporates by coming up with certain rules and standards to be followed by board members, employees, and leaders.
We have all heard that "the best way to predict the future is to create it." Though it is not easy to see the future clearly but being ready and studying the risk by scenario planning seem the only way.
In business sometimes we use both of the above functions - digital transformation and digital optimization, as the same but as a result, they are far different from each other.
9 factors shaping consumer behavior
Trust us, if we knew the exact behavior of consumers in each segment and market, the amount of our profit would go to sky with no limitation. This means that we cannot predict things exactly, but by knowing what influences and shapes the behavior of our customers, we can get closer to their preferences and their needs.
Why do we need data in business
Many people call data and information The gold. Google, Amazon, Microsoft, Apple and all other leaders in the high-tech industry are searching for data to improve their business. This is not limited to the mentioned companies and industries. Traditional and lower-level organizations are also trying to get data and analyze data.
Why employee surveys don't work?
One of the best tools to measure the level of employee engagement is conducting internal on-line or off-line surveys. An article on Harvard Business Review claims that "Employee surveys are still one of the best ways to measure engagement".
7 ways to retain entrepreneurs as employees
Entrepreneurs are the ones who can start a company on their own and develop it to the level of profitability. These people are full of ideas, passion, and responsibility.
Why does Uber promise sooner profitability?
Uber, the company with many stories behind it, surprised Wall Street with slightly better results on 02/07/2020 claiming that by the end of this year the business will be profitable sooner than expected.
In business any kind of crisis can happen. Recently, we experienced Coronavirus in China and based on the World Health Organization it is being spread globally very fast.
Bossless or hierarchical organization?
There are many ideas about flat organizations and the advantages specifically for Y and Z generations. Let's focus on some questions regarding this issue:
4 solutions to increase your market share
We all would love to increase the number of customers and to expand our market. It is everyone's dream, no doubt!
Top 100 leading world brands of 2019
World's leading brand consultancy set up a list of top 100 brands for year 2019. To be included in this list, a company must be global, profitable, visible, and transparent with financial results.
Major American financial and business news website recently got to see an internal list of leadership principles of Microsoft CEO Satya Nadella.
How to attract Gen Z talent
New research from Workforce institute conducted in 12 countries around the globe proved that Generation Z wouldn't like to be part of so called gig economy that much. Instead of freelancing GenZers prefer full time job and stability with flexibility and work-life balance. Current companies have to start considering these issues otherwise they may...
Based on CNN report from January 9th, 2020, only in the US, 1,640 CEOs left their positions in 2019. Among them, we can find huge corporations such as Boeing, McDonald's or Nike. Reasons are different from company to company but there are some unforgettable lessons to learn and to plan for us.
In every business getting the feedback is important. We get feedback from our consumers to know:
In our current business atmosphere, all competitors are trying to keep their current customers and to get more by using different techniques.
Design good games around your strategy
Strategies are not set up to be filed in drawers. We would like to implement them but we need to make it easier, more wanted and acceptable to people.
Tesla just announced that all cars produced on or after July 1, 2018 can use their premium connectivity service, containing navigation, live traffic visualization, satellite-view maps and many more, creating extra monthly income as high as almost 3.000.000 USD for only 9.99 a month subscription.
5 main pitfalls in strategy execution
Experienced leaders call strategy execution a combination of knowledge, skills, art, and leadership. It is true with no doubt. When we would like to execute our strategy, we need to start and learn during the execution. Consultants can help us a lot but they only show the direction and facilitate the action. The final decision in...
Meeting Management, 3 lessons from Elon Musk
Tesla co-founder and CEO Elon Musk has some innovative ideas about internal meetings. He limits them to max 6 people and advises to his employees to walk out of a meeting or drop off a call as soon as it is obvious they aren't adding any value to that particular topic.