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SSA & Company Notebook | Summer 2018

Overview

A note from our President: As Chairman of the Columbia University Deming Center Advisory Board, I recently attended the annual Deming Forum. The discussion centered around today’s unprecedented disruption and the need for clear processes around keeping an organization and its people ahead of the curve. Innovation is not a “nice to have.” It demands a delicate balance of strategy and agility. In this issue, we hear from Deb Henretta, G100 Companies Partner and former Group President of e-Business at Procter & Gamble, on how companies can win in digital and what senior leaders need to know to transform their businesses. We also explore the implications of disruptive technology on operations in retail and financial services and delve into the workforce of the future. We close with insights on human capital, shared by our sister firm The Miles Group (TMG).…

8 Tips for CEOs Leading Digital Transformation

Overview

Truly embracing digital is not an evolutionary change—it is revolutionary change and touches every aspect of the business. As such, it must start with CEOs and the board. It can neither be delegated, nor can it be implemented without fundamental changes to people, processes, and technologies. In partnership with SSA & Company and based on our work implementing digital strategies in the trenches alongside CEOs, boards, and their teams, I have compiled several key takeaways for CEOs to consider as they cut through complexity and successfully transform their enterprises for the digital world. 1.  Ask Big Questions. How can our company use digital to do what our company does best better, faster and cheaper? How can digital tools, technologies, and capabilities help our company meet or exceed its business and organization goals? How can digital get our company to its…

Accelerating Digital Transformation: 5 Ways CHROs can Help

Overview

How can CHROs help speed up digital transformation across the enterprise? That was a key question at a recent G100 Talent Consortium seminar. Author Ram Charan and Pat Wadors, Chief Talent Officer at ServiceNow, led a conversation with CHROs, which helped unlock actionable insights. The ensuing conversation led us to five key ideas—and no surprise, it all starts with people. 1. Create a culture that embraces agility and operates at the speed of data. Think like a startup. HR managers must instill a growth mindset and facilitate continuous discussion about disruption and agility. Does your company’s senior team prize speed, agility, and continuous innovation? Change management used to be a deliberate plan with a long runway. That approach is no longer relevant in the fast-moving world. Off-sites and town halls alone are no longer an effective way to communicate strategy.…

Run, Don’t Walk, To Digital Transformation

Overview

Established companies looking to transform their business must go “all in” and start generating results quickly. This startup mindset is what incumbents compete against and it often poses a variety of challenges. Winning in digital does not come from slowly tweaking the margins of your business. It requires going beyond digital marketing to a holistic rethink of how your business model and enterprise can be enhanced through digital tools and technologies. And most importantly, leaders must shift from talk to walk—moving from strategies to action. Bringing strategies to life is where companies often get stuck. Even the best of strategies are just words on paper if they can’t be operationalized. These failures, combined with competitors’ successes and pressures from digital insurgents, widen the digital divide. Despite these challenges, we are seeing emerging best practices that shed new light for incumbents…

SSA Workshop: Introduction to Advanced Analytics for Big Data

Overview

SSA & Company is excited to announce a one-day workshop on the key concepts of Advanced Analytics for Big Data on Friday, July 8 in London. More and more companies are seeing the potential of data to increase the performance of their operations, or to create new value-adding services for their customers. But many are still working out how to harness the power of Big Data, and even in those that have already had some successful implementations, most people don’t know how they can get started in their own area. For Operational Excellence leaders in particular, Advanced Analytics opens up all sorts of new possibilities to use data to improve business performance. The purpose of this workshop is to learn the foundations of Big Data and Advanced Analytics, and to discover how to navigate this fast-developing field to make your…

Bob Silvers contributes to North American Oil & Gas Pipelines: Four Opportunities for Effectively Managing the Bust Cycle

Overview

Bob Silvers, Managing Director of Energy & Life Sciences at SSA & Company, contributed an article to North American Pipelines titled “Pipeline Perspectives: Four Opportunities for Effectively Managing the Bust Cycle.” The article shares Bob’s ideas on how pipeline developers can better manage their process to control costs and deliver more predictable pipeline development through supply chain, preventative maintenance, advanced analytics, and cyber security. According to Bob, “Companies that can effectively address these issues in the short term will be well-positioned for more prosperous and long-term, predictable performance.” Bob Silvers is Managing Director of Energy & Life Sciences at SSA & Company. Read the full article here.

Cutting Costs Through Shrink Reduction

Overview

Achieving significant and lasting cost savings by changing the way retailers approach the persistent problems of shrink and concealed losses. For an industry where company margins typically hover between 1% and 2%, shrink remains a critical opportunity to enhance company performance and improve the bottom line. While most retailers have tried a variety of tactics to reduce shrink’s monthly toll on profitability, for many it remains a frustrating game of trial and error: some efforts reduce shrink at the cost of losing margin while other techniques compromise sales. After failing to tackle the problem, many managers conclude – wrongly – that high shrink and concealed losses are simply a cost of doing business.   Many shrink reduction efforts fail because they fall victim to four common errors: Lack of a fact-based, data-driven approach Not identifying the real problem Taking an…