When the word ‘policy’ is mentioned it often conjures up images of reams of paper with fine print which customers, employees and ultimately document storage facilities are expected to deal with. Policies, when used effectively however, play a fundamental role in aligning the operational, technological, physical and human capabilities to the strategies and aspiration of the organisation. Without policies, achieving a consistent interpretation and execution of aspiration and purpose is near impossible, especially at scale.

This article examines what effective policy creation and implementation is, why this is important, how best to manage this policy process and what we believe are three major challenges for leaders to consider.

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Policies, when used effectively, play a fundamental role in aligning the operational, technological, physical and human capabilities to the strategies and aspiration of the organisation.

The art of problem solving is continually evolving.

Today, organisations are embedding the interests of the customer right at the heart of their most critical business decisions and choices – whether corporate, channel or even market entry strategy. The shift to greater customer centricity is being driven by an overwhelming supply of customer data as well as innovative capabilities to both mine, process and make sense of this data. Rising customer demands and market saturation, is forcing organisations to transform the way that they operate internally and how they engage with their customer base.

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The role of customer-centred design as a driver of decision making across the realms of strategy, activity and execution is developing into a core capability in the market that demands focus and attention

Innovation Imperative

 

We are living in a globally competitive world. Any lever that looks to improve economic and social wellbeing has to first match and then better what the world currently offers. This is the essence of competitiveness. And to be successful, we will have to make choices as a nation – choices to be made by both government and business.

There are fundamentally three ways that living standards can be improved.

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Together, we have to create a culture of innovation. A culture of considered risk taking. A workforce equipped with the resilience that innovation (and at times failure) requires, and an environment that is renewing itself all the time.

Is Your Price Right?

Open Piggy Bank and Coins

How does your organisation think about pricing?

There are two simple approaches to pricing – “price leading” and “price following”. Since price is a sub-component of many functions (e.g. marketing & branding, sales, product design, finance, growth strategy, risk management) and rarely a dedicated function, organisations tend to price follow themselves, or competitors.

‘This year’s price is 4% higher than last year’s, because it “feels right”. Increased competition in our market means we need to discount more than normal.’

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This year’s price is 4% higher than last year’s, because it “feels right”…

It is that time of year again – strategic planning. But, what does this actually involve nowadays? Do we believe that ‘strategy’ and ‘planning’ can be intertwined harmlessly? Or is it time to recognise that strategic thinking needs to be separated from planning?

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Or, you may be wondering, where the ‘strategy’ was in all of this?

Using the Internet is likely to eclipse watching TV as the preferred source of entertainment for Australians in the coming year. Based on our recent Media Consumer Survey, while TV is still number one, with 64% of survey respondents ranking it in their top three entertainment preferences, using the Internet for social or personal reasons is a close second to TV (63%). Using the internet has been climbing the ranks for the past three years with 10% year on year growth….and if this rate of growth is maintained, the Internet will overtake TV as the preferred source of entertainment this year.

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Using the Internet is likely to eclipse watching TV as the preferred source of entertainment for Australians in the coming year

Selling is becoming increasingly difficult. Today’s consumers are often cautious consumers – empowered by information and disloyal by nature. Moreover shifts in technology and shrinking margins have forced organisations to fundamentally transform their go-to-market approach to attract customers and maintain market share. Organisations now must create an integrated, differentiated sales experience; personalised to each and every customer. If they don’t, it’s likely a competitor will.

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…traditional ‘cause-effect’ methods or ‘one-size-fits-all’ sales models, such as reward and recognition, can no longer drive a sustainable step-change in sales performance.

Australian Business Trends 2014: examining how Australian business can capitalise on the latest global trends

The past two decades has seen the global economy undergo immense change. Technological innovation has caused a marked increase in the flow of information and an ‘explosion’ in the movement of goods, services, capital, people, ideas, cultures and values.

Rapid advances in technology, the rise of developing economies and greater urbanisation has once again redefined the global economic landscape. A billion people are expected to enter the ‘middle class’ over the next two decades, and this spread of prosperity will offer a raft of opportunities for businesses who are agile enough to respond effectively, and will present threats for those who lag behind.

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What exactly is strategy? What makes a good strategy? What unique characteristics define the most successful strategy? What direction is contemporary strategy headed? These questions have long confronted the business world and have been at the forefront of professional debate and discourse for many years.

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