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Believe it or not customer satisfaction is somewhat of a new focus within the business industry. For many years the main focus of business was based upon staying in the black, increasing sales, growing business visibility and making a product or supplying a service that is needed or valued. However, with the changing times of our variable economy, there has been a major shift in the business mindset. Instead of focusing inward on the business and its growth and financial aspects, many companies have chosen to move their focus outward towards the satisfaction of the customer. With this innovative mindset, companies are really trying to put customer satisfaction above all else. It is actually much easier to keep customers when they are satisfied with the product or service provided than it is to go out and attain new customers. In fact, new figures estimate that it will cost a company 5 to 8 times more money to reach out and attain a new customer than to just keep a current customer satisfied. Furthermore, if a customer is satisfied with a product they will often recommend or talk highly of the product to others within the industry as well. Word of mouth is a very powerful tool during this age of online communication. With the click of a button, a person can "like" or "recommend" a product to many other people on his or her communication database.

A pitfall in the path to innovation and disruption is the lop sided focus on "creation" and not enough focus on "consumption". Creation is the process of creating platforms, products, and solutions where as consumption focusses on ensuring that the created artifacts deliver the intended value. Too often enterprises get caught up in "creation" or enabling "creation" and lose sight of the fact that without consumption, anything they create is bound to be a failure. Creation & Consumption can not be Sequenced A misconception that often exists is that "if we build it, they will come" i.e creating the product and solution is enough and its existence will automatically lead to consumption and value generation for the customer. However, creation and consumption cannot be sequenced i.e. made a focus sequentially. Creation and consumption only succeed when they go hand in hand where tight, iterative loops ensure that the creation is informed by consumption trends and feedback and that consumption is also leveraging the latest creations. What Does A Lop-Sided Focus Look Like The top 3 signs of this lop-sided focus are as follows Focus on Building Platforms When the focus of the enterprise is building platforms and when customer value is only created when a developer leverages the platform to build a customer facing application, it often means that the effort invested in the platform has no ROI. When the focus is on platforms, application investment suffers and the platform builders get sidetracked with platform KPIs as opposed to business value KPIs. The platform builders might only focus on "Developer" satisfaction when ultimately, customer satisfaction matters for the business. Focus on Tools, Not on Solutions Another sign of lop-sided investment is a focus on tooling at the expense of solutions. Enterprise teams can often go overboard with building large libraries of tools and using the adoption of the tool as a metric of success. However, simil

Blockchain are certain to disrupt almost all industries fundamentally. Though there are technical issues, the idea of utilizing a blockchain to prove ownership, to prevent double spending and to establish trust and transactions in an otherwise trust-deficient world, is gaining excitement and acceptance. More and more enterprises are getting curious about the blockchain and are willing to start investing in learning, prototyping, and building on top of the blockchain technology. Starting out with the blockchain requires investment in a building the domain expertise, establishing the identity, establishing the infrastructure and deciding the blockchain that the enterprise wants to work with. Among these decisions is the question: Should the enterprise choose a public blockchain or a private blockchain. Both have advantages and disadvantages and the question can often come down to what are the short term goals and potential applications that the enterprise wants to build on the blockchain. Public BlockChains The default option when considering blockchains is the public blockchain. This is the blockchain that is truly decentralized, leverageable for any type of transaction and in the case of the Ethereum blockchain, offers SmartContract authoring capability that makes the blockchain very attractive for building contracts that reflect the needs of the real world. However, for an enterprise deciding between public or private contracts, there are some considerations that require attention. Speed and Scalability Public blockchains tend to be slower as they are limited by the number of transactions that can be verified every second and confirmed every 10 minutes. There are several efforts underway to make blockchains faster and more scalable however those will take time to get implemented. Speed and scalability will continue to be an issue and contracts and applications that require instant or near real time execution will suffer from this lack of speed and scale. Se

One of the key milestones on the Digital Journey starting with a Digital Strategy, Digital Transformation and then sustaining on Digital Innovation is the point where the enterprise reaches a point of data maturity powered by a single, organization wide, consistent version of the truth including the state of the customers and the state of the business and the state of the employees. This point is critical as it becomes the launchpad for several, forward looking initiatives including Artificial Intelligence, ChatBots, Blockchain etc. "Complete" A Complete version of the truth ensures that the following criteria is met: Entity Pivot The key entities that need to be tracked to generate a complete, comprehensive version of the truth are the following Employee Employees, regardless of customer facing or not, need to be understood including where they excel vs. struggle and where their struggle impact the customer experience. Key information about employees that should be tracked is what the employees are working on, how productive they are and how often they introduce delay and errors in business processes. Business Business visibility requires that the enterprise be able to track key metrics such as customer lifetime value, customer attribution, customer acquisition cost and customer satisfaction. In addition, the stage of the customer ranging from prospect to commit to paying customer to abandoned needs to be tracked. In addition, the customer's quality of service and experience needs to be tracked and understood. Customer The most critical of the three is the understanding of the customer. Customer KPIs have a direct impact on and are completely impacted by the Business and Employee KPIs. It is extremely important to understand how customers are searching for, discovering, learning, understanding, using and continuing to use the product and services delivered by the enterprise. In addition, it is important to understand what capabilities drive what kin

Ten Tips to Help You with Your Kaizen Continuous Improvement Strategy The Kaizen methodology encourages ongoing efforts to ensure continuous improvement throughout a facility. This improvement can come in many forms including waste elimination, improved efficiency, safer work environments and much more. To simply say that a facility is employing Kaizen strategies, is essentially meaningless if you don't have any concrete action items you are following. Whether you're just getting started or you are looking for ways to reinvigorate a Kaizen strategy that is not effective, the following ten tips will be very helpful. Each one can give you ideas on what you can do encourage improvement and allow that improvement to grow and expand long into the future. Tip #1 - Harness the PDCA Strategy One of the key concepts used in Kaizen is the "Plan-Do-Check-Act" strategy. This is a quality model that can be used when implementing any type of improvement in the facility. As you might expect, the PDCA strategy is a cycle of ongoing improvement that should never end. The steps are as follows: Plan - This step is where you identify an area where improvement is possible and make an initial strategy on what chance should be made to realize the desired improvements. Do - Implement the change, but only on a small scale. This may mean having one department make the change in some situations or for larger corporations, having one facility make the update. During this step it is also very important to be gathering as much data regarding the change so it can be properly evaluated. Check - Review the results of the change including the data that was collected. Looking to see if they had the desired impact or not is critical to know whether you should move forward with rolling the change out to other areas. Act - IF the data in the check step points to a success, it is time to push the change out on a wider scale. Once the change has been successfully implemented you wi

Transforming into a tech company has become top of mind for executives in all major industries. It is clear that modern technology will fundamentally alter what and how business is done in every domain, sector, and industry. This has led to a call to arms in every enterprise to understand how they can transform into a tech company. The Tech Company Magic Tech companies have fine-tuned the art of bring new digital products and services to the market, quickly, efficiently and effectively and understanding customer feedback to iterate and improve. This capability makes them incredibly agile and leads to faster experimentation that is cheaper and involves less risk. In turn, this enables them to bring new capabilities to the market and even if all do not succeed or get traction, a few do and that drives innovation, customer satisfaction, and growth. From the outside, tech companies appear to be massive juggernauts that are unstoppable and able to crush everything in their path. The 'Non-Tech' Technology has been leveraged in every sector and industry, however, it has almost always been treated as a means to an end, something that is required but never the real value driver for the customer. This has led to the typical organizational structure in enterprises into "Business", "Operations" and "Information Technology". The "Business" arm generates value for customers, the "Operations" team carries out the requirements of the Business team and the "Information Technology" team provides the systems (databases, network and compute) required to "keep the lights on" for the Operations and Business Teams" This structure served enterprises well in the last decades as customers did not have an alternative to directly working with the enterprise and this fortified the value supply chain and also established a hierarchy of sorts within the enterprise where the business looked down upon operations who looked down upon technology. The purpose of

For many enterprises, transforming into a digital organization is a very big priority. Digitization is more than a passing fad; instead it almost is a precursor to survival in the next decade. Analog mechanisms of running businesses are no longer sustainable nor likely to give confidence to customers, employees, stakeholders and shareholders. Measuring Digital A digital organization is characterized by the following Time to Customer Insight The Time to Customer Insight in a digital organization is the time it takes to collect, process, analyze information to determine the health of a customer, their satisfaction with current products and services, their unmet, possibly unstated needs and the impact that external market events might have on the customer. Time to Reaction Time to Reaction is the time taken to react to a customer insight through the introduction of a new product/service to solve an existing or a new problem or through better packaging of existing solutions to address otherwise existing problems. Time to Market Time to Market is the time taken to bring a new capability, product or service to market often as reaction to a customer or market insight or feedback Time to Iteration Time to Iteration is the time taken to solicit, gather, process, analyze customer feedback and effect a change in existing products or services or bring new products and services to market to address the customer feedback. Digital Organizations Digital organizations are characterized with minimal Time to Customer Insight, Time to Reaction, Time to Market, Time to Iteration and a constant effort and investment into further optimizing and minimizing these metrics. Digital organizations focus on the flow of information through the organization and use of the information to generate and deliver more value for the customers. Key Characteristics of Digital Organizations Instrumentation of Interfaces, Products, Systems, Applications, Processes A digital organization ensures

Lean Management - A Guide To Starting Out Right Much like anything over-used and spread before those singing praises have done a lot of research, Lean is a concept that sometimes, despite the best of intentions, misses its mark. Lean principles aren't particularly tricky, but with many offshoots and brands of the ideology, it can be easy for new Lean managers to get caught up in misinformation. At its core, lean is about eliminating all kinds of waste from your business. It sounds simple enough, but one of the biggest problems for many newbies is changing your concept of just what "waste" is. Once you've got a grasp on that, you need to move onto individual strategies that can help you eliminate that waste. In this article, we're going to go over how to accomplish both of these tasks as a manager who may be new to Lean by exploring unique facets of this management type and how they interact with elements of your business. One of the largest differences between Lean management and traditional styles of management is that in a traditional methodology your primary (and nearly sole) concern is the end of the line result. While Lean is of course concerned with achieving superior end results, its focus is on the processes that get you there. In this sense, what you learn and practice as a Lean manager is more about making individual pieces work together efficiently than having a tunnel-vision focus on numbers and figures at the end of the cycle. The Relationship Between Lean management, Waste Elimination, and Continual Improvement "If someone tells you that "lean management is this" and not something else, if someone puts it in a box and ties a bow around it and presents it in a neat package with four walls around it, then that someone knows not of what they speak. Why? Because it is in motion and not a framed picture hanging on the wall. It is a melody, a rhythm, and not a single note." - Lawrence M. Miller, Management Meditations While perhap

The top priority for pet owners is keeping their dogs safe and healthy. Regarding the need for routine veterinary examinations and proper care, unexpected health issues may arise at any time. In this case, dog insurance allows pet owners to feel more satisfaction knowing that their furry pets are protected from unexpected health care costs. This article will cover all you need to know about dog insurance, including its benefits, types of coverage, and how to choose the best plan for your pet. Whether you're a first-time dog owner or someone who wants to learn more about dog pet insurance, this article will provide you with the answers you need. Important topics like doctor insurance, dog health insurance, and puppy insurance.