The seven greatest strategies for business success 3 22-16

THE SEVEN GREATEST STRATEGIES FOR

BUSINESS SUCCESSDR. JOHN PERSICO JR.

March 23, 2016

WELCOME•INTRODUCTIONS•AGENDA•QUESTIONS AND

COMMENTS

1. STRATEGIES FOR COMPETITION•COST VERSUS

QUALITY•COST VERSUS

DIFFERENTIATION•LOCAL VERSUS

GLOBAL

2. STRATEGIES FOR DEVELOPMENT•HUMAN RESOURCE MANAGEMENT •TALENT MANAGEMENT•REWARDS AND RECOGNITIONS•PROCESS MANAGEMENT

HUMAN RESOURCE MANAGEMENT•DEVELOPING PEOPLE TO BE THE BEST THEY CAN•TALENT MANAGEMENT

REWARDS AND RECOGNITIONS

PROCESS MANAGEMENT

3. STRATEGIES FOR GROWTH•WORD OF MOUTH•MARKETING PLANNING•IPO’S•MERGERS AND ACQUISITIONS

The Four Means by Which Companies Grow Market Share

Word of Mouth

Market Planning

IPO’s

M & A

Growth

Time

4. STRATEGIES FOR POSITION

PRODUCT

PRICE

PLACE/DISTRIBUTION

PROMOTION

5. STRATEGIES FOR IMPROVEMENT

•TQM•LEAN MFG.•SIX SIGMA•BIG DATA•KAIZEN

STRATEGIES FOR IMPROVEMENT

• WHAT IS THE DIFFERENCE BETWEEN CONTINUOUS IMPROVEMENT AND CONTINUAL IMPROVEMENT?

STRATEGIES FOR IMPROVEMENT

Lean, Kaizen and Continuous Improvement

The Advantages of Big Data

THE ADVANTAGES OF BIG DATA Big Data in Banking

6. STRATEGIES FOR EXCELLENCE

•CUSTOMER SERVICE EXCELLENCE

•PROCESS EXCELLENCE•PRODUCT EXCELLENCE

CUSTOMER SERVICE EXCELLENCE

•WHAT DO YOU DO TO MAKE YOUR CUSTOMERS RETURN?

PROCESS EXCELLENCE

•WHAT IS AN EXCELLENT PROCESS?

PRODUCT EXCELLENCE

• 'THE LOSS IMPARTED TO SOCIETY FROM THE TIME THE PRODUCT IS SHIPPED', AND THIS RELATED THE LOSS TO SOCIETY AS A WHOLE. THUS, IT INCLUDED BOTH COMPANY COSTS SUCH AS REWORKING, SCRAPPING AND MAINTENANCE, AND ANY LOSS TO THE CUSTOMER THROUGH POOR PRODUCT PERFORMANCE AND LOWERED RELIABILITY.

Genichi Taguchi defined Product Quality as:

7. STRATEGIES FOR PLANNING

WHAT IS A STRATEGIC PLANNING SYSTEM ?

7. STRATEGIES FOR PLANNING

•STRATEGIC PLANNING

•HOSHIN PLANNING•BLUE OCEAN PLANNING

•OPPORTUNISTIC PLANNING

BLUE OCEAN PLANNING

Leading companies will succeed not by battling competitors, but by systematically creating "blue oceans" of uncontested market space ripe for growth. The strategy represents the simultaneous pursuit of high product differentiation and low cost, thereby making competition irrelevant.

OPPORTUNISTIC PLANNING

Being opportunistic means taking things as they come. Looking at what makes sense right here, right now. Jumping right into the thick of things and figuring it out as you go along. Exploring interesting connections, poking your nose into strange places and smashing stuff together to see what happens, always angling toward a particular, but vaguely defined, direction.