scene setter © alangnewman @ yahoo.com 1.we know we know 2.we know we don’t know 3.we don’t...
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Scene Setter
© alangnewman @ yahoo.com
1. We know we know
2. We know we don’t know
3. We don’t know we know
4. We don’t know we don’t know
What Business Are We In ?
© alangnewman @ yahoo.com
What Business Are We In ?1. We’re in the customer-satisfaction business
2. We’re in the financial rescue business
3. We’re in the financial services business
4. We’re in the business of helping people manage lifestyle risk
5. We’re in the insurance business
6. We’re in the business of making money
7. We’re in the protection business
8. We’re in the business of regulated financial services
9. We’re in the business of selling protection products
© alangnewman @ yahoo.com
Half Empty or Half Full ?
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Identifying. Passive. No action.
CHALLENGES Defensive. Negative.Lacking Confidence.
Why notOPPORTUNITIES?
CHANGINGWORLD
Cliché. Defensive
When hasn’t it been aChanging World ?
Good News Bad News
The GOOD NEWS is that
we don’t have to worry about STRATEGY anymore.
The Regulator’s doing that for us.
The BAD NEWS is that
we don’t have to worry about STRATEGY anymore.
The Regulator’s doing that for us.
© alangnewman @ yahoo.com
Business is Business1. Attracting and retaining talent2. Better customer engagement; more reliable revenue3. Better distribution4. Better data / information / knowledge management5. Brand building; brand leveraging6. Increased differentiation7. Product Innovation – Mkt Growth; Mkt Share Growth8. Process Innovation – improved efficiency and/or agility9. Regulatory compliance10. Responding to aggressive ‘5 Forces’ competition11. Responding to market disruption12. Smarter stakeholder engagement
© alangnewman @ yahoo.com
Time & Money
£14.3bn
1696 31m 16
© alangnewman @ yahoo.com
Time & Money
$ 14 bn
1957Born
1998Died
1987
© alangnewman @ yahoo.com
What Business Are We In?
© alangnewman @ yahoo.com
What Business Are We In?
© alangnewman @ yahoo.com
What Business Are We In?
© alangnewman @ yahoo.com
What Business Are We In?
© alangnewman @ yahoo.com
What Business Are We In?
© alangnewman @ yahoo.com
What Business Are We In?
© alangnewman @ yahoo.com
Hollywood studios
thought they were in
the movie business.
Complementors? Competitors?
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To What Extent Is Digital Different?
© alangnewman @ yahoo.com
To What Extent Is Digital Different?
© alangnewman @ yahoo.com
To What Extent Is Digital Different?
© alangnewman @ yahoo.com
Between 2007 and 2014
2007 2007 2009 2009 2009
2012 2012 2012 2014
2010 2010
2010
2010 20102009
2014
© alangnewman @ yahoo.com
Business is Business1. A business is not defined by the products it sells but by the
benefits customers pay for.
2. Directors of a business aren’t the only people who define what business they are in – changes in consumer behaviour, competitors, new entrants, substitution, and innovation all have a say.
3. If we are not clear about what business we are in we will miss opportunities, misunderstand competitive threats and use resources in ways that do not create value.
© alangnewman @ yahoo.com
Scene Setter
© alangnewman @ yahoo.com
1. We know we know
2. We know we don’t know
3. We don’t know we know
4. We don’t know we don’t know
What Business Are We In ?
A waste of time.“What Business Are We In” is business school nonsense
The presentation was interesting up to
a point but notthat important.
A fair question. We’ve a reasonable understanding but need to refine it.
A good question. Timely because
we’ve probably lost sight of the answer.
My initial answer was good.
No need to makeany changes.
My initial answer needs a tweak.
My initial answer needs serious
revision.I now feel
very unsettled.
© alangnewman @ yahoo.com
“ In our factories we make lipsticks. In our shops we sell dreams. “
Charles Revlon
alangnewman @ yahoo.com16 January 2015
THANK YOU
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