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Even the most savvy CEO may have blind spots in his or her skill sets, corecompetencies, or voids in the org chart which can also cause blind spots. Get outside of your old thought patterns and seek out people, technology, collaborative relationships, process and any other solutions that can improve your business.
With the continued rapid development of technology taking the concept of globalization and turning it into hard reality facing businesses of all sizes, it is time for executives and entrepreneurs to examine their current business models from a disruptive perspective.
The strategic underpinnings of most companies’ workforce plans should change dramatically as a result of technological innovation. The World Economic Forum predicts that “by 2020, more than a third of the desired core skill sets of most occupations will be comprised of skills that are not yet considered crucial to the job today.”
Biocon's corecompetency lies in building and orchestrating global innovation networks — the cornerstone of a polycentric innovation model. In this fluid system, Biocon finances CMI's inventive R&D, while using the funds from the Pfizer deal to finance its own R&D and go-to-market activities.
Carr predicted that an organization''s ability to compete through investing in information technology was about to change dramatically. The IT boom of the 1980s and early ''90s had brought information technology to the corporate masses, unleashing the first full-scale technology revolution in the enterprise.
The rising ability to identify, capture, and repurpose the data byproducts of an ongoing business is coming to rival the perceived "corecompetence" of the core business itself. The proliferation of digital media means that all organizations are becoming data-rich.
You have to consider salaries, marketing budget, office size, technology services, and on and on. Think about whether you are providing what they need in terms of technology, benefits, and a comfortable environment. What is your business’ corecompetence? How can you focus your spending on that?
The competition story revolves around digital technology. economy — especially software-intensive sectors such as media, professional services, and finance — tend to be highly profitable as well. Firms concentrate on what they’re good at, adopt new technology, and deliver products and services more efficiently.
Pharmaceutical companies, buffeted by regulatory changes, new drug technologies that alter entry barriers and competition, price pressures, and an estimated 300,000 job cuts since 2000, seem to fit the popular narrative of large organizations unable to deal with disruptive forces. It’s not just products.
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