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Scene Setter © 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.

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Presentation on theme: "Scene Setter © 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."— Presentation transcript:

1 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

2 What Business Are We In ? © alangnewman @ yahoo.com

3 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

4 Half Empty or Half Full ? © alangnewman @ yahoo.com Identifying. Passive. No action. CHALLENGES Defensive. Negative. Lacking Confidence. Why not OPPORTUNITIES? CHANGING WORLD Cliché. Defensive When hasn’t it been a Changing World ?

5 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

6 Business is Business 1.Attracting and retaining talent 2.Better customer engagement; more reliable revenue 3.Better distribution 4.Better data / information / knowledge management 5.Brand building; brand leveraging 6.Increased differentiation 7.Product Innovation – Mkt Growth; Mkt Share Growth 8.Process Innovation – improved efficiency and/or agility 9.Regulatory compliance 10.Responding to aggressive ‘5 Forces’ competition 11.Responding to market disruption 12.Smarter stakeholder engagement © alangnewman @ yahoo.com

7 Time & Money £14.3bn 169631m16 © alangnewman @ yahoo.com

8 Time & Money $ 14 bn 1957 Born 1998 Died 1987  © alangnewman @ yahoo.com

9 What Business Are We In? © alangnewman @ yahoo.com

10 What Business Are We In? © alangnewman @ yahoo.com

11 What Business Are We In? © alangnewman @ yahoo.com

12 What Business Are We In? © alangnewman @ yahoo.com

13 What Business Are We In? © alangnewman @ yahoo.com

14 What Business Are We In? © alangnewman @ yahoo.com Hollywood studios thought they were in the movie business.

15 Complementors? Competitors? © alangnewman @ yahoo.com

16 To What Extent Is Digital Different? © alangnewman @ yahoo.com

17 To What Extent Is Digital Different? © alangnewman @ yahoo.com

18 To What Extent Is Digital Different? © alangnewman @ yahoo.com

19 Between 2007 and 2014 2007 2009 2012 2014 2010 2009 2014 © alangnewman @ yahoo.com

20 Business is Business 1.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

21 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

22 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 not that 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 make any changes. My initial answer needs a tweak. My initial answer needs serious revision. I now feel very unsettled. © alangnewman @ yahoo.com

23 “ In our factories we make lipsticks. In our shops we sell dreams. “ “ In our factories we make lipsticks. In our shops we sell dreams. “ Charles Revlon

24 alangnewman @ yahoo.com 16 January 2015 THANK YOU


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