Growth is tricky in family owned businesses and is quite different from corporate growth. Family and business overlap can be very dangerous, if not managed carefully. Because one is typically emotionally driven and subconscious whereas the other is task based and conscious. When a sudden leadership vacuum is created (e.g. by illness or death)...
Read more →Quality products require an efficient production. ARMBRUSTER, our partner in ExtremeFactories project supplies their ELAM-System an optimal solution for process control, worker guidance and traceability for picking, assembly and inspection. Keep innovating! Tweet
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The initial questions to answer are what we should internationalize; whether it is a technology or a market roll-out. The main concerns are quite different in both the options, e.g. in technology roll-out developing partners/R&D are crucial whereas in market roll-out opening of sales offices/distributors are of major concern. Once defined, then the company...
Read more →Vaibmu has been invited as a speaker to present at the International Classified Media Association (ICMA) conference in Cologne, Germany on 17-20th April 2013. Along with our partner INNOPOLE, we ran the Business Operations Forum. This is a session within the ICMA General Meeting targeted to business professionals including CEOs, VPs, CTOs, CMOs (…)....
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To be able to profit from innovation it is vital for company to ensure that it captures value resulting from it. Not always a company who innovates makes the profit from it. A classic example of it is the invention of personal computer by Xerox, which resulted in no gains for the innovator. According...
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The ability of a company to efficiently manage its ongoing activities and at the same time prepare for tomorrow’s challenges is the crux of organizational ambidexterity, as simple as it may sound. But rarely an organization is good at both exploitation of its current business and exploration of future options. In practice, we see it rather happening in...
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The article by Bertrand et al. (2005) provides an interesting perspective into how psychological factors interfere with economic rationality in consumer decision-making. They tested several factors which seemingly looked irrelevant from a cost-benefit analysis perspective but do influence consumer decision-making significantly. The study sample is taken from the consumer credit market in South Africa. It...
Read more →VAIBMU, partner of the ExtremeFactories project, organizes the fourth Classified Media Innovation Award together with the International Classified Media Association (ICMA). All the classified media companies are invited to present the innovation projects they are carrying out. The 2013 Award will be announced at the ICMA “Marketplace Innovations” Innovation Awards Gala Party on Saturday...
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“Every decision is a risk taking judgement”. It is fair to state that for decision-makers, the significance of their decisions is inversely proportional to the number of these that they make. In this sense, it is expected of higher authorities to take less yet more strategic or high-level decisions, whereas some common folk might...
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The case of Edison’s Electric Light innovation, which disrupted the status quo, is an interesting example of how the design of the system can facilitate the diffusion of an innovation. Hargadon and Douglas (2001) argue that sense-making happens in the context of existing apprehensions, so when introducing a novel product/service/system an innovator has to design...
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Innovation can arise from several sources e.g. individuals, firms, research institutes, non-profits and/or the linkages between them. But what makes some individuals or companies more innovative than others? Is it the creativity of the individuals and therefore for companies HR policies matter the most in this regard? Of course it does matter, but other...
Read more →According to Schilling (2008), the company’s structure is one of the main factors affecting the creative environment leading into innovation. A flexible and more open company culture, in contrast to a hierarchical structure which limits the creativity of the people, will encourage people to chase their potentially innovative ideas. However, the downside of such...
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