The advantages of Smart Customization are more visible in the manufacturing industry—owing to fairly speedy cash recoveries when factory costs are aligned to customer value. It is becoming an integral pillar to Product Strategy in many organizations. However, services sector can also benefit from smart customization, but this demands relatively closer interactions with customers and […]
About Mark BridgesMark Bridges is a Senior Director of Strategy at Flevy. Flevy is your go-to resource for best practices in business management, covering management topics from Strategic Planning to Operational Excellence to Digital Transformation (view full list here). Learn how the Fortune 100 and global consulting firms do it. Improve the growth and efficiency of your organization by leveraging Flevy's library of best practice methodologies and templates. Prior to Flevy, Mark worked as an Associate at McKinsey & Co. and holds an MBA from the Booth School of Business at the University of Chicago. You can connect with Mark on LinkedIn here.
Author Archive | Mark Bridges
Customers, these days, demand ever-higher levels of personalized products and services to suit their needs. Their demand is grounded on technological disruption and access to up-to-date information. They believe that in an economy characterized by disruption and operational innovation—that makes customization possible—they have an excellent chance of getting customized offerings from the suppliers. Thus, Product […]
Large accounts make up a significant portion of business for most B2B companies. Therefore, losing an important customer can have detrimental effects on the organization. The significance of key accounts is urging top B2B companies to revisit their key account management approaches. Additionally, the increasing level of sophistication of the purchase process being adopted—such as, […]
The Retail industry is under constant pressure by low margins and ever-increasing rivalry. Weak consumer spending; saturated markets; increased consumers demands for service and lower prices; and intense competition has put significant strain on retail bottom lines and growth avenues. Thus, Retail Strategy must evolve to accommodate these market changes. Such low margins force the […]
Disruption is constantly changing the retail business environment. In fact, it is adding complexities to it with every passing day. Sweeping changes in consumers’ behaviors and the challenges to retail economic models are pushing the current retail models to undergo considerable transformation. A number of organizations that possess a sizable property portfolio find it challenging […]
Cost Optimization Programs are hard to manage, sustain, and often tend to fall short of delivering the promised value. The failure could be attributed to many reasons—including lack of clearly delineated objectives, failure to account for the operational difficulties, internal resistance to change, trying to cut corners from everywhere, not paying attention to planning optimal […]
A major reason for employees leaving their workplaces is conflicts with their bosses. To succeed in today’s fiercely competitive market, organizations need to invest in developing their leadership, such that they further develop their teams by training them on the desired competencies and create a sense of engagement in them. A big challenge for leaders […]
The rapidly evolving world necessitates organizations to change quickly to keep pace. Organizations that are able to manage change well flourish, whereas those that don’t risk disruption or closure. Change management varies greatly based on the nature of business and the people involved. It also depends on how well people understand the change process. Various […]
The number of people working remotely has been increasing progressively across the globe. An employee benefits report narrates that around 60% companies in the US offer telecommuting opportunities. Telecommuting not only benefits people but also presents several advantages for organizations. Research has attributed an increase in savings of around $2000 per employee each year on […]
Inspiring breakthrough innovation in business models and solutions is becoming critical for organizations’ existence, as startups through their innovation have been consistently disrupting large organizations globally. To foster innovation, the key ingredient is creating an organizational culture that encourages innovation in all spheres. Every organization, today, aspires to nurture a culture of innovation where employees […]
There isn’t one leadership approach that can guarantee success in every situation. Leadership necessitates an assortment of methodologies that leaders can use based on the circumstances—ranging from being self-centric to helping the humanity. In order to develop effective teams, inculcate a sense of teamwork, and make a positive impact, leaders need to be aware of […]
The pace of digital disruption is putting even large corporations at risk of closure. Startups are using disruption to their benefit by embracing robust approaches and creating unique business models. This intense competition and disruption warrants organizations to keep evolving in order to thrive. They can do this by creating cutting-edge systems and software, adopting […]
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