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DIGITAL TRANSFORMATION
Digitalization is not a new phenomenon. It has been a process of change and transformation of society, business, and government for decades.
The digital world has now gone mainstream. We are now living in the information age where the world is “digitalized” and we cannot imagine life without gadgets such as smartphones, tablets or any other modern electronic devices.
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Nowadays, digital transformation is taking over all aspects of the workplace - from the decision-making process to implementing new solutions for production and service delivery.
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Digitalization is not just about technology. It is about business transformation driven by technology. Digitalization is about using digital solutions to improve the way you work and the way you interact with customers.
The best way to handle crisis is to avoid it. By formulating an emergency management plan, one can be prepared for the worst.
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In times of crisis, organizations need to take a strategic approach in order to be successful. It is important to have a plan in place so that when the time arises, they are able to execute the steps necessary so they can maintain their reputation and continue on with their operations.
In a turbulent environment, it is important that organizations have a plan in place for when crises occur. It is crucial that these plans are specifically tailored for whichever organization has been faced with the crisis because every company has different strengths and weaknesses which could affect how they handle it.
CRISIS MANAGEMENT
CORPORATE STRUCTURING
In order to have an understanding of how a company’s structure is developed, it is important to first understand the stakeholders and what they represent.
The different stakeholders within a company and their responsibilities contribute to the structuring process. The CEO and other executives, for example, are responsible for making the major business decisions that will impact the company’s growth opportunities and value. The board of directors would be in charge of balancing stakeholder interests as well as ensuring that these interests align with those of shareholders.
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It's very important for organizations to be structured properly. There are different stakeholders and factors involved in the decision making process and it should be balanced. The business decision value should not override the impact on the other stakeholders.
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Corporate structures can be categorized into two basic types: functional and divisional. The difference between the two is the emphasis on responsibility and control. Functional structures provide an "all-purpose" company focus, while divisional structures allow for specialization by product, service, location, or market.
A company with a functional organizational structure usually has departments that produce a single type of product or service. With a divisional structure, each department is devoted to a specific geographical region or product line.
A corporate strategy is a plan that an organization uses to help them grow. A good strategy usually includes goals, tactics, and resources to get to the goals.
When developing a corporate strategy, it is important to consider the company’s strengths and weaknesses. Organizations should also consider what they want their future goals to be and how they are going to get there.
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Strategy is the art and science of developing and implementing courses of action to achieve organizational objectives. The job of a strategic thinker, strategist, and/or strategist-in-chief is to synthesize relevant information about both internal and external environments, anticipate future developments within these environments, and formulate course(s) of action designed to produce an optimal outcome for the organization.
A strategic plan should be realistic with an achievable goal. It should also have a timeline so that it can be monitored for progress over time.
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Corporate strategy can be divided into three categories: Financial, Operational, and Strategic. Ultimately, the goal of a corporate strategy is to protect and grow shareholder value.
CORPORATE STRATEGY
MARKETING AND SALES
Marketing and sales is an important part of any company’s success. It is not an easy task since it requires a lot of time and resources. Marketing has always been about the customer, but now more than ever companies are looking for new ways to make their customers feel special.
In this changing environment, marketers need to be skilled in a variety of channels and techniques for generating leads. Sales teams are still needed because they're the ones who convert these leads into customers.
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Marketing can be defined as the process of strategically promoting a product or service by targeting its key audiences (often through advertising) in order to increase awareness and generate interest.
Sales can be defined as the process of persuading potential customers by sound argument, evidence, or emotional appeal, typically with the goal of generating an agreement to purchase something.
Without marketing, there would be no target audience for marketing; without sales there would be nothing for marketers to market about.