Authors John Sviokla and Mitch Cohen identify five habits of mind that allow self-made billionaires to create value on a massive scale—habits that are in direct conflict with the traits and practices most businesses value and promote in their employees.
Investors have been showing increased interest in the correlations between financial performance and sustainability factors like resource scarcity, environmental performance and corporate governance when assessing a company’s future risk and growth opportunities. Is your company ready to respond? This 10Minutes highlights insights and benefits companies can glean into these issues by integrating their thinking to develop a better understanding of impacts to their businesses, allowing them to tell a more holistic value creation story.
Businesses depend on service providers to handle confidential data, run essential business processes, and manage critical technology. This can leave businesses vulnerable to service provider breakdowns. The result can be the providers’ clients violating regulations and even losing customer trust. Yet many businesses may know less than they realize about their service providers’ controls. This 10Minutes discusses how SOC 2 and SOC 3 reports can give businesses the picture they need to have solid confidence in their service providers.
Pharmaceutical companies stand ready to be tested in a world where a drug’s success is more closely tied to its performance. The challenges mount with competition from generics and growing pressure to reduce costs. Now, insurers and integrated providers are driven by models that reward health outcomes and cost savings. For success, drug makers are exploring real-world evidence, new payment models, and the right partnerships.
After three years of outreach and deliberation, the IASB and FASB recently issued a revised proposal to overhaul the rules on accounting for leases, a move that could significantly boost US companies' reported debt.
10Minutes on conflict minerals provides insight into the strategic benefits and risks companies will want to focus on as they comply with the SEC's conflict minerals rule. The rule is effective for 2013 calendar year operations, so regardless of whether companies view conflict minerals as a supply chain opportunity, risk to their brand or another regulatory to-do, they should act now to prepare.
Consumer-packaged goods (CPG) companies, retailers, and their business partners often tout the ways they put customers at the center of their strategies. But while many companies do a good job of understanding their customers, perhaps not as many create demand by coordinating across marketing, sales, and innovation—functions and activities that now encompass the demand chain. This 10Minutes explores ways companies can capitalize on knowing their customer with demand functions pulling in the same direction.
What does a customer-centered organization look like? What investments are needed to take you there, and what might that journey look like? This 10Minutes discusses these questions and how companies who focus on creating a customer-centered organization may reap real dividends.
Volatility has become a fact of life in today’s business landscape. Yet, after years of global expansion, many companies’ supply chains are brittle, unable to respond to frequent fluctuations in demand and supply. This 10Minutes explores strategies companies can deploy to make their supply chains more agile and adaptable.
In 2013, company leaders are looking for value creation from their operations. To achieve this goal, organizations are moving beyond shared services and outsourcing to a Global Business Services (GBS) model. GBS helps provide those intangibles by focusing on customer needs and business strategy first and foremost.
For non-financial services companies, regulations introduced by the Dodd-Frank Wall Street Reform and Consumer Protection Act and Basel III will result in significant changes to the derivatives market. Every aspect of a corporation using derivative to manage risk will ultimately be affected—from risk strategies and corporate funding to operations and accounting. This 10Minutes provides insight on the impacts of new regulation on corporate entities and what those entities need to do now in order to meet impending reform deadlines and ensure they're well equipped to manage increased costs and compliance responsibilities.
Talent continues to top the list of executive concerns. Company leaders are focusing on how talent can help them achieve the following four strategic priorities: power growth, realize ROI, manage risk, and enable transformation.
Signs point to a potential surge in domestic manufacturing, and US companies are carefully watching seven key factors that are impacting the trend. They also need to consider what a potential move or expansion of manufacturing facilities to the US could mean for all aspects of their business.
As Europe continues to grapple with sovereign debt problems, austerity measures, and recession, the Eurozone is changing and will likely emerge from the ongoing crisis looking quite different from the one we know today. Because the world is so interconnected, virtually every company will be affected and needs to figure out the impact on their companies worldwide - from strategy and operations to execution - and start preparing now.
The best disaster survival manual may be obsolete if it doesn’t anticipate major disruptions to the supply chain or at outsourced operations. As a result, business continuity management programs are being designed to continually assess— as well as counter—risks stemming from the interdependencies integral to running a business.
Mention social technology or social networking, and most people think of consumer-driven applications such as Twitter or Facebook. But some organizations realize that Facebook, Twitter, and their secured equivalents inside the enterprise are just a catalyst for deeper changes that must be made to collaboration tools and methods. So what are the changes companies need to make to improve things?
By helping create jobs in the private sector and by investing in infrastructure, governments can help create an environment conducive for growth. In fact, almost half of CEOs surveyed say that improving the country’s infrastructure and fostering a skilled workforce should be government’s top priorities. But how can CEOs enter strategic and collaborative relationships with governments to pursue their own growth agendas?
Operating systems, devices, wireless networks, and other IT components all comprise business mobility. But the real power lies in the convergence of the technologies and in how each organization applies them to redefine the way it works. While the chief information officer will lead the charge here, it's important that the rest of the leadership team understand the choices and issues that pertain to the following technology building blocks.
Cyberattacks aren’t just an information technology matter. Legal obligations, damages to the organization, and business relations with customers all come into play. Often the last to know, it is imperative that general counsel be the first on the cybercrime scene. They can play a pivotal role in protecting an organization if they act promptly when a company’s systems have become compromised.