The concept of Core Competence was first introduced by C. K. Prahalad and Gary Hamel in 1990, in their article The Core Competence of the Corporation. Since then, this term has become part of the general business vernacular. Companies constantly claim various things to be part their “core competencies.” But, are these really Core Competencies? […]
About David Tang
David Tang is an entrepreneur and management consultant. His current focus is Flevy, the marketplace for business best practices (e.g. frameworks & methodologies, presentation templates, financial models). Prior to Flevy, David worked as a management consultant for 8 years. His consulting experience spans corporate strategy, marketing, operations, change management, and IT; both domestic and international (EMEA + APAC). Industries served include Media & Entertainment, Telecommunications, Consumer Products/Retail, High-Tech, Life Sciences, and Business Services. You can connect with David here on LinkedIn.Author Archive | David Tang
Strategic Management Done Right: Set up a Strategic Management Office (SMO)
Most organizations struggle with Strategy execution. In fact, numerous studies from top consulting firms (including McKinsey, Bain, BCG) and Harvard Business Review have shown approximately 70% of strategies fail due to poor execution. Furthermore, organizations only realize about 60% of their strategies’ value. Having a Strategic Management Office–i.e. SMO–may improve your chances of success. The […]
An Introduction to ChatGPT and How to Use ChatGPT for Consulting
Editor’s Note: Want to directly ask an AI consultant a question? Check out Marcus. Marcus, based on MARC (Management’s Automated Real-time Consultant) technology, is Flevy’s own AI-powered consultant who will search our vast database of management topics and best practice documents to identify the most relevant to your specific, unique business situation. View and search […]
Emerging Market Intelligence
How do we acquire quality, actionable Market Intelligence for emerging markets? To make good business decisions, we require good data—i.e. good Market Research & Intelligence. For developed markets, the function of Market Intelligence is mature practice, where data can be reliably obtained. This is the not the case for emerging markets. Many multi-national organizations, when […]
Business Model Innovation (BMI): Business Model Journey
In this article, we will go on a journey… a journey for your Business Model. As we all know, innovative Business Models can reshape industries and drive tremendous growth. In fact, if executed successfully, Business Model Transformation can make organizations resilient in the face of Disruption and create Growth unbounded by the limitations of its […]
How We Can Align Our Corporate Strategy and Supply Chain Strategy
Most organizations struggle to find a true strategic fit between their Corporate Strategies and their Supply Chain Strategies. For most organizations, they operate within a highly complex and globally interconnected Supply Chain. Aligning Supply Chain solutions to support the organization’s strategies has become increasingly difficult. This has never been more evident than during the COVID-19 […]
Blank Check Strategy
Due to organizations having limited resources (e.g. talent, capital, time, etc.), the focus of Strategy Development is often the optimization and prioritization of said resources to maximize the potential to reach its strategic objectives. But what if that weren’t the case? This is the thinking behind Blank Check Strategy. The blank check approach takes a contrarian […]
The Innovation Sandbox
The “Innovation Sandbox” is a powerful creative thinking tool to drive Innovation, pioneered by C.K. Prahalad. In fact, using this framework, industries and individual organizations can achieve breakthrough Innovation. It promotes exploration and experimentation–while under extreme conditions. For this framework to be implemented effectively, there are 4 core conditions that must be met: The Innovation must […]
The 4 Models of Management
In a study conducted by global management consulting firm Strategy& (formerly Booz & Company) of 100s of organizations of varying sizes and types, they synthesized a spectrum of 4 different corporate management models. These 4 management models are defined by the way senior management and the “Corporate Core” engage with the rest of the organization. […]
The 4 Schools of Strategy
Over the years, countless business frameworks on Corporate and Business Strategy have been developed. We can categorize these frameworks into 4 schools of thought. Let’s call them the 4 Schools of Strategy, which are: The Position School The Execution School The Adaption School The Concentration School We can represent these 4 schools on a 2×2 […]
Tension Management 101: How Do We Manage Workplace Tension?
In a high-pressure environment such as the C-suite or Boardroom, tension is bound to exist. Since tension is bound to exist, the goal is not to eliminate tension, but rather, to turn tension into productivity. These 2 main kinds of tensions that exist in an organization: 1. Natural Tension Natural Tension refers to personal tension […]
The Human Resources (HR) Ecosystem
In business, we love to use the term “ecosystem.” So what is an Ecosystem? In its purest form, Wikipedia defines Ecosystem as a community of living organisms in conjunction with the nonliving components of their environment, interacting as a system. This definition can be further broadened to represent a group of interconnected “elements,” formed by […]
