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Tag: business books

Understanding Strategic Positioning

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Three key principles underlie strategic positioning.

  1. Strategy is the creation of a unique and valuable position, involving a different set of activities: Strategic position emerges from three distinct sources:
  • serving few needs of many customers (Jiffy Lube provides only auto lubricants)
  • serving broad needs of few customers (Bessemer Trust targets only very high-wealth clients)
  • serving broad needs of many customers in a narrow market (Carmike Cinemas operates only in cities with a population under 200,000)
  1. 2. Strategy requires you to make trade-offs in competing—to choose what not to do. Some competitive activities are incompatible; thus, gains in one area can be achieved only at the expense of another area. For example, Neutrogena soap is positioned more as a medicinal product than as a cleansing agent. The company says “no” to sales based on deodorizing, gives up large volume, and sacrifices manufacturing efficiencies. By contrast, Maytag’s decision to extend its product line and acquire other brands represented a failure to make difficult trade-offs: the boost in revenues came at the expense of return on sales.
  2. Strategy involves creating “fit” among a company’s activities. Fit has to do with the ways a company’s activities interact and reinforce one another. For example, Vanguard Group aligns all of its activities with a low-cost strategy; it distributes funds directly to consumers and minimizes portfolio turnover. Fit drives both competitive advantage and sustainability: when activities mutually reinforce each other, competitors can’t easily imitate them. When Continental Lite tried to match a few of Southwest Airlines’ activities, but not the whole interlocking system, the results were disastrous.

Employees need guidance about how to deepen a strategic position rather than broaden or compromise it. About how to extend the company’s uniqueness while strengthening the fit among its activities. This work of deciding which target group of customers and needs to serve requires discipline, the ability to set limits, and forthright communication. Clearly, strategy and leadership are inextricably linked.
This is an excerpt from HBR’s 10 Must Reads (On Strategy). Get your copy here.
Credit: Abhishek Singh

Change Through Tipping Point Leadership

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Four Steps to the Tipping Point

  1. Break through the cognitive hurdle.

To make a compelling case for change, don’t just point at the numbers and demand better ones. Your abstract message won’t stick. Instead, make key managers experience your organization’s problems.
Example: New Yorkers once viewed subways as the most dangerous places in their city. But the New York Transit Police’s senior staff pooh-poohed public fears—because none had ever ridden subways. To shatter their complacency, Bratton required all NYTP officers— himself included—to commute by subway. Seeing the jammed turnstiles, youth gangs, and derelicts, they grasped the need for change—and embraced responsibility for it.

  1. Sidestep the resource hurdle.

Rather than trimming your ambitions (dooming your company to mediocrity) or fighting for more resources (draining attention from the underlying problems), concentrate current resources on areas most needing change.
Example: Since the majority of subway crimes occurred at only a few stations, Bratton focused manpower there— instead of putting a cop on every subway line, entrance, and exit.

  1. Jump the motivational hurdle.

To turn a mere strategy into a movement, people must recognize what needs to be done and yearn to do it themselves. But don’t try reforming your whole organization; that’s cumbersome and expensive. Instead, motivate key influencers—persuasive people with multiple connections. Like bowling kingpins hit straight on, they topple all the other pins. Most organizations have several key influencers who share common problems and concerns— making it easy to identify and motivate them.
Example: Bratton put the NYPD’s key influencers— precinct commanders—under a spotlight during semiweekly crime strategy review meetings, where peers and superiors grilled commanders about precinct performance. Results? A culture of performance, accountability, and learning that commanders replicated down the ranks. Also make challenges attainable. Bratton exhorted staff to make NYC’s streets safe “block by block, precinct by precinct, and borough by borough.”

  1. Knock over the political hurdle.

Even when organizations reach their tipping points, powerful vested interests resist change. Identify and silence key naysayers early by putting a respected senior insider on your top team. Example: At the NYPD, Bratton appointed 20-year veteran cop John Timoney as his number two. Timoney knew the key players and how they played the political game. Early on, he identified likely saboteurs and resisters among top staff—prompting a changing of the guard. Also, silence opposition with indisputable facts. When Bratton proved his proposed crime-reporting system required less than 18 minutes a day, time-crunched precinct commanders adopted it.
This is an excerpt from HBR’s 10 Must Reads (On Change Management). Get your copy here.
Credit: Abhishek Singh

Give People Permission to Fail

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When Felicia Ramsey, a marketing manager at SAS, started her career in media and advertising, she said that the only way anyone could measure the potential effectiveness of a campaign was to conduct a focus group, especially since it was so hard to assess the impact of a print or TV campaign. Making adjustments on the fly became difficult; you had to wait until the completion of the campaign to see the results.
With digital advertising, that’s all changed. “We don’t waste our time on anything we can’t measure our ROI anymore,” Ramsey explained. “That allows us to do more of things that work while doing less of things that don’t work.” With digital tools, we as marketers can also experiment and try new things without making the kinds of investments we once needed to. “We have built a culture that encourages and rewards us for taking risks and trying something different,” Ramsey said. “I’ve worked in other places where doing that might be held against you. Here you can be creative and comfortable about experimenting.”
A key lesson we’ve learned is to give marketers the freedom to test and learn so they can make intelligent decisions that will drive change. Since we began applying marketing optimization techniques, our conversion rates on outbound marketing campaigns have tripled, while associated communication costs are dropping. There has been a reduction in list size of 14 percent, a reduction in e-mail opt-outs of 20 percent, and an increase in click-through rates of 25 percent— all of which translates into higher-quality leads, reduced costs, and an improved customer or prospect experience. Achieving that kind of optimization has a direct impact on results, and it indirectly increases marketers’ confidence level. There is far less guesswork and much more time and energy invested in strategies to connect with customers.
A great example of how, by using data and analytics, we are able to be more agile and experiment with new techniques is the evolution of our website, www.sas.com. With millions of visitors to our site, most of whom initially find us through an organic web search, analytics is critical for determining how we leverage a person’s time on the site. With scoring and nurturing efforts, we have experienced conversion rates at 20 percent to 30 percent. Just as importantly, we have enhanced the overall experience for our customers when they do visit our website by making ourselves available to talk with them if they have questions. That’s something we’ve added with our relatively new, integrated, online chat capabilities that allow members of our customer contact center to respond in real time to visitors’ questions.
Adding the chat technology actually began as a skunk-works test program under Aaron Hill, Senior Director of Digital Strategy
Marketing Analytics at Work
Using Data to Justify Additional Resources
In the last decade, live chat has gone from a website curiosity to a mainstay on corporate sites. For companies selling business-to-business solutions, the use of chat is an immediate way to answer questions and establish dialogues with customers, even on their first visit.
SAS began investing significantly in chat resources in 2008, and each passing month brought new levels of engagement. Initially, the contact center operated from 8:30 a.m. to 5 p.m. eastern (US), Monday through Friday. The staff answered questions, provided links to resources, and often initiated a valuable early sales contact with prospective customers.
By 2013, the team realized that web traffic supported the need for coverage later in the day to help meet the requirements of customers in the western United States and Canada. As a temporary measure, the team started to work an altered shift from 12 p.m. to 8 p.m. as a pilot, but that left the group understaffed earlier in the day.
At the same time, the scope of the group supporting live chat expanded to include social media engagement on Twitter, LinkedIn, and other channels. Soon, the contact center was at a crossroads. With a longer workday, more engagement options, and the same staff, marketing leadership had to make changes to meet the increased demand.
The Challenge
The contact center team faced a dilemma found in many marketing groups. The team supported a high-volume activity, but there weren’t enough resources to cover additional efforts such as more channels (social media plus live chat) and a longer workday.
Because the contact center worked closely with inside sales to pass on leads, the marketing leaders proposed a partnership with their sales counterparts. Marketing would increase the operating hours for the contact center to include more coverage for West Coast customers and others on our website later in the day. It would also expand its reach to include more complete coverage of social media channels, as well as discussion forums, as part of a global social media monitoring and response program.
To justify the increased resources, the contact center turned to historical data on chat traffic to determine:

  • Web visitors whose behavior indicated a likely lead
  • Chat acceptance rate
  • Rate of chats to leads
  • Number of leads passed to sales • Rate of chats to sales conversions
  • Close rate of deals originated by chat

The Approach
The marketing leadership team used the data from contact center interactions to justify hiring additional resources.
The team applied SAS algorithms to historical live-chat results, creating a virtual view of the results the sales team could expect with additional resources. The team applied the same approach to lead conversions and close rates and also added resources to the analysis. Based on these extrapolations, the marketing team could predict the workload and sales leads from each additional staff member and what that would mean to the bottom line. The analysis also showed how the team could interact more effectively across social channels and, as an additional benefit, help SAS recruit attendees to events.
With better data about the historical performance of live-chat sessions, the team members accurately predicted the outcomes of adding additional resources. Rather than simply asking for resources based on gut feel, they made a strong, data-driven presentation to executive leadership. They got the approval, and the contact center hired new staff.
The Results
Soon after adding the new resources, the team began to see that the expanded contact center was living up to expectations. Extended coverage hours and additional contact center resources helped generate more leads for sales from inbound channels. The data showed that these leads had the highest likelihood of converting to sales opportunities and revenue. The additions contributed directly to the bottom line and validated the analysis conducted to justify the new positions.
The team has also become more active in social channels, expanding the company’s presence and allowing the marketing organization to be more proactive. For example, a new Twitter handle—@SAS_Cares—gives customers an additional service channel for quick responses to their questions as well as timely notifications and helpful tips.
Technology, who recognized that all the content on our website might actually be confusing to a visitor, especially someone who simply wanted a price quote. Hill told me he equated the situation with entering a home improvement store and wandering the aisles looking for the right product. How happy we become, therefore, when someone steps out from behind the cash register to help us. In the end, we as customers appreciate help and buy more as a result. Hill thought chat could bring similar benefits to our customers and business. He was right; we’ve seen a much higher conversion rate among visitors to our website who engage with us via chat.
This is an excerpt from Adele Sweetwood’s The Analytical Marketer. Get your copy here.
Credit: Abhishek Singh

6 Luminous Lessons from Dharmashastras to Look Out For

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Business law in medieval and early modern India developed within the voluminous and multifaceted texts called the Dharmashastras. These texts laid down rules for merchants, traders, guilds, farmers, and individuals in terms of the complex religious, legal, and moral ideal of dharma.
The Dharma of Business – an exciting new book by Donald R. Davis, Jr. – provides a new perspective on commercial law in this period. It makes a compelling case for the relevance of the dharma of business to our own time.
Here are six lessons from Dharmashastras that are relevant in our modern age.
The Dharma of an Employee
The Dharma of Business 01
The Dharma of an Employer
The Dharma of Business 02
When not putting one’s best foot forward
The Dharma of Business 03
The Culture of Rewarding Excellence
The Dharma of Business 04
Tax for Welfare
The Dharma of Business 05
Greed, the Destroyer
The Dharma of Business 06
Want to apply ancient wisdom to your own work and issues at workplace? Get The Dharma of Business here!
The Dharma of Business

Dealing with Dual Transformation

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With the ever-changing environment, the adaptability of a business determines its height of success. A leader’s ability to percept the changing environment and act in accordance with it marks the sign of true leader. We have umpteen numbers of cases for both, the success and the failure in leading the organization towards change. Often, the path to change is seen as a one-dimensional one. However, the authors of Dual Transformation beg to differ. They firmly believe in the dual course of action required to take the company out of turbulent waters. The following excerpt clarifies the fundamentals of Dual Transformation by keeping Deseret News at the pivot:
‘Our bedrock case study comes from coauthor Clark Gilbert’s firsthand experience leading a transformation at Deseret Media. The Deseret News is one of America’s oldest continually published newspapers, tracing back to 1850. Ultimately owned by the Mormon Church (which also owns the local KSL television station), the paper historically competed in Utah with The Salt Lake Tribune under what is known in the industry as a joint operating agreement, wherein the two companies share facilities and printing presses but have independent journalists, brand positions, and so forth. As the number 2 provider in its market, Deseret Media was hit particularly hard by the disruptive punch of the internet; between 2008 and 2010 the Deseret News lost nearly 30 percent of its print display advertising revenue and 70 percent of its print classified revenue.
In 2009, Gilbert—who had done his doctoral research at Harvard on the newspaper industry and had consulted to the industry before he became head of online learning at Brigham Young University-Idaho—was asked to launch Deseret Digital Media, a newly formed organization that contained Deseret Media’s collection of websites.
Five years later, however, Deseret Media had a vibrant print publication, including a national weekly that was one of the fastest growing publications in the United States. It also had built an impressive array of quickly growing digital marketplace businesses tied to its KSL classifieds products that collectively produced more than 50 percent of the organization’s combined net income. These digital businesses shared brands, content, and a few other resources with the core business but largely functioned autonomously. Deseret Media had revitalized its historical core business while simultaneously pioneering the creation of a new hill on the media landscape. By the time Gilbert left in 2015 to become president of BYU-Idaho, net income at Deseret, in the midst of an industry in free fall, was up by almost 25 percent from 2010.
Deseret’s success, according to Gilbert, is attributed to organizing the company to adapt to two very different types of change. Rather than view change as one monolithic transformation process, Gilbert organized the company into two parallel change efforts: one to reposition the core newspaper business, and another to unlock new growth in digital markets.
We call this change effort dual transformation.
When you take your first algebra class, you’re introduced to the Greek letter delta. The capital form of the fourth letter in the Greek alphabet, Δ, also serves as shorthand in math equations for change. The kind of change we’re talking about here is indeed a very large delta. Achieving that change requires following this formula:
A + B + C = Δ
Here’s how it breaks down.
A = transformation A. Reposition today’s business to maximize its resilience.
B = transformation B. Create a separate new growth engine.
C = the capabilities link. Fight unfairly by taking advantage of difficult-to-replicate assets without succumbing to the sucking sound of the core.’
For in-depth knowledge about the theory of Dual Transformation, click here .
This is an excerpt from Scott D. Anthony, Clark Gilbert and Mark Johnson’s Dual Transformation. 
Credit: Abhishek Singh

The Third Way to Innovate

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There is a big flaw in innovation thinking today – a false dichotomy. Conventional wisdom says that to survive, companies must move beyond incremental, sustaining innovation and invest in some form of radical innovation. “Disrupt yourself or be disrupted!” is the relentless message company leaders hear. Don’t be fooled. David Robertson in his book, The Power of Little Ideas shows there is a Third Way that is neither sustaining nor disruptive, but is, in its essence, complementary. This low-risk, high-reward strategy is one that all managers and executives must understand and practice in order to achieve competitive advantage in today’s dynamic economy.
The Third Way, isn’t a new concept altogether. Some companies have used the concept in their own way to maneuver their businesses into profit. However, no one has explicitly defined and described this form of innovation as a replicable process. To understand the concept in a concrete way, one should know its three distinctive traits.
First, and most obvious, the Third Way consists of multiple, diverse innovations around a central product or service that make the product more appealing and competitive. We refer to the product at the center of every Third Way project as the key or core product. It is always a key or important product; making a marginal product the focus of so much effort would make no sense. But the product does not always have to be a company’s core product, as its sports drink was for Gatorade and used cars were for CarMax. For Novo Nordisk, its HGH drug was certainly important, but its insulin product was, at least for the period covered in our story, the company’s core product. “Always key and often core” is the way to understand any product that is the focus of the Third Way.
By diverse complementary innovations, we mean that they should fall into a wide range of business categories, such as pricing, marketing, operations, sourcing, and partnerships. Likewise, the innovations should appear in a host of different forms, such as auxiliary products, support services, and social media activities.
Second, what makes this approach work is that all the complementary innovations operate together as a system or family to satisfy a compelling promise to the customer. Gatorade promised peak performance for serious athletes through a complete nutrition and hydration solution. Norditropin promised to make HGH therapy as trouble- and pain-free as possible for all involved. And CarMax promised buyers a hassle- and worry-free experience when they were locating and buying the car they needed.
Third, and perhaps the least obvious in the stories, the family of complementary innovations must be closely and centrally managed. It’s not an ecosystem of interrelated but autonomous companies and products that compete, collaborate, or otherwise co-evolve according to their own needs and priorities. Instead, each complementary innovation is created or selected and then closely managed, usually by the owner of the key product. Indeed, the careful selection and proactive management of this system is crucial to the success of the Third Way.
This is an excerpt from David C. Robertson and Kent Lineback’s The Power of Little Ideas. Get Your Copy here.
Credit: Abhishek Singh
 

Narrating Stories with Data

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As director of analytics and A/B testing at Visa, Ravichandran supports executives, leaders, and decision makers in product, marketing, sales, and relationships. He explained to me that “we are the custodians of the data, so our responsibility is to enable our users to have confidence in the decisions they make using that data.”
One of the biggest changes the analytical era of marketing has brought about is that things need to happen much faster than before. “We used to have a very linear approach,” Ravichandran told me. “Now when something is going live, there’s already an immediate need to respond. We need to be able to take action on the fly.” Because of those changes, marketers can no longer think about analytics as something that supports them or a function that just one person, like a chief digital officer, would perform. Rather, analytics is now an integral part of marketing’s value chain.
Ravichandran said that numbers by themselves are historical. That’s why, while data is needed to inform campaigns, at the end of the day, it still comes down to marketers using their gut feelings to make the best decision possible. “And we can use data and analysis to inform and guide us in the right direction,” he added.
Because data and analytics are now so intertwined with marketing strategy, expectations for leadership on the marketing side have changed. “It’s no longer acceptable to say you’re a marketer, but you’re not a numbers person,” Ravichandran said. “Executives are demanding more data literacy as a precursor for being a good marketer.” And it’s not just in the marketing space. He added, “All of our chief executives are comfortable with numbers and data-driven approaches.”
Ravichandran was quick to clarify, however, that a focus on data, numbers, and quantified measures should not replace the value of vision: “I have an enormous respect for data, but I also believe all of it has to be driven by strategy, the business case, benchmarking against the industry, all those things that provide a broader perspective. You have to understand what specific metrics you’re trying to impact with your actions.” He advocates the importance of understanding your company’s business model, applying and measuring the right metrics, and truly understanding your competitive position and your customers’ needs.
The big mind-set shift we need to make, therefore, is recognizing how our intuition is now informed by data and analytics. When someone comes to a marketing manager or leader with a proposal to spend, say, $250,000 on a campaign, she had better come armed with data, analysis, testing plans, and expected outcomes, as well as what her gut is telling her.
This is an excerpt from Adele Sweetwood’s The Analytical Marketer. Get your copy here.
Credit: Abhishek Singh
 

Learning from Mistakes

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Jeff Bezos, the owner of mighty Amazon constantly features in one of the most successful entrepreneurs of modern time. The way he has steered Amazon through all these years, shows his dedication and skill to make things work against all odds. However, even he failed. A lot of articles have come up post this and many different perspectives have tried to solve this problem from a different angle. Jeff Gothelf and Josh Seiden’s book, Sense and Respond tries to look at such cases from a newer perspective:
‘Amazon’s 2014 Fire Phone disaster is a classic example and, oddly, one that comes from the very same company that developed and frequently uses many of the sense and respond techniques we’re discussing—a company we laud in chapter 1 for that reason.
Motivated by consumers’ increasing use of mobile devices, Amazon began the Fire Phone effort in 2010, just as the iPhone 4 was hitting the market. Mobile users were becoming a more important source of traffic to Amazon, and the company wanted more control of the mobile store than Apple would allow. Apple’s rules about what companies can and can’t do in iOS apps include strict rules about commerce, including one that stipulates that Apple gets a 30 percent share of each in- app sale. 2 (The reason you can’t buy a book on the iOS Kindle app is that Amazon doesn’t want to pay Apple 30 percent of each sale.) So Amazon created the Fire Phone initiative to solve a business problem: it wanted complete control over the store that its customers visited on their mobile devices.
But what would be the value to customers? They struggled to find it, in part because of a strict culture of secrecy around this product. Jeff Bezos, CEO of Amazon, had lots of ideas for cool features. But cool and valuable are not the same thing. Over time, Bezos exerted an increasingly heavier hand in the design and development of the Fire Phone and, according to published reports, ignored feedback from his team that questioned his approach. 3 There was no conversation with the market here, only Bezos talking. He insisted that the phone have a series of fl ashy features like Dynamic Perspective, a 3-D display that didn’t require special glasses and could be seen from all angles; but it delivered little consumer value. Bezos assumed that fl ashy hardware features would make the phone more desirable to consumers than an iPhone. Without a continuous two way conversation with his target audience to guide the development of these features, though, Bezos was making a huge guess.
He guessed wrong. Four years later, in July 2014, the Fire Phone went on sale in the United States. Within days it was clear that consumers were unimpressed— with the design, with the ecosystem, and with the gimmicky features Bezos had pushed for so hard. Priced at $199, the Fire Phone was intended to compete directly with Apple’s iPhone, but consumers didn’t see the value. Instead, they saw it for what it was—a way to easily get to Amazon’s store in a way that was better for Amazon but not significantly better for customers.
After a $170 million write- down of unsold inventory, the Fire Phone was available for 99 cents before finally being sunset in late 2015. The behind- the- scenes stories reveal the arrogance in the top down decision- making process that Bezos led. Although people on the team pushed back, they ended up deferring to the boss. After all, he’d been right many times before. Why wouldn’t he be right again this time?
It might have helped if Bezos had listened to the market. Had he approached some of these decisions as assumptions to be tested and questions to be answered, rather than hunches to be followed blindly, things might have been different.’
You can get your hands at the book here.
This is an excerpt from Jeff Gothelf and Josh Seiden’s Sense and Respond.
Credit: Abhishek Singh

Winning with Superconsumers

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Daniel Zein (disguised), the CFO of Great Snacks, thought that Nacho Cheese could be one of the company’s most valuable brands, so he encouraged the team to dig further into the product. The team did some robust analysis, and to their surprise, they discovered that Nacho Cheese’s consumers spanned the entire income spectrum.
From the data, it was obvious that Nacho Cheese could be a much bigger brand. Of all the full meals that consumers eat at home, about 37 percent are consumed hot and include cheese. But Nacho Cheese was used in only a fraction of those meals. To grow its product, the Great Snacks team decided to focus on the twenty-four million or so other consumers who share the same three loves that Laura had—people, cooking, and cheese—but who may not understand the magic of Nacho Cheese and the dozens of life solutions that it could deliver.
Simply put, the team gathered data from their superconsumers, ensured that the resultant insights and inspiration also appealed to the other twenty-four million consumers, and then geared its marketing, innovation, and retail execution to their tastes and behaviors. The immediate challenge was to convince the company leadership that Nacho Cheese could grow through better marketing and innovation—from packaging to product.
Line extensions into other forms of cheese were also a logical action step. Great Snacks drove growth by megabranding Nacho Cheese into other categories. The core business grew steadily faster than inflation, but the extensions in cheese (e.g., slices, shredded cheese) grew by double digits. All told, the brand extensions drove more than $50 million in growth, and the megabrand grew $100 million in three years.
For years, innovation for Nacho Cheese was a challenge. Since the brand was not well understood, innovation concepts yielded mixed results, which made the team hesitant to pursue breakthrough innovation. But with new data, the team revamped its innovation testing process to include both superconsumers (like Laura) and potential superconsumers (folks who could become like Laura).
The group was pleasantly surprised to find that among all the new product concepts it tested, some were off-the-charts positive for superconsumers. The team made a few tweaks, the new concepts tested positive for potential superconsumers as well, and the team finally had the results it needed to proceed.
The team saw that retail activation was inconsistent across retailers. In some stores, Nacho Cheese was placed in the center of the store. In others, it was refrigerated in the cheese and dairy section. So the team did some analysis and found that Nacho Cheese sold faster in the refrigerated section, which consequently produced better results for Great Snacks and the retailer. The team learned that superconsumers strongly preferred the product when it was sold in the refrigerated section. What’s more, potential superconsumers had a much easier time finding it in the refrigerated section.
Finally, the Great Snacks team used big data to uncover meaningful ways of improving marketing ROI. It used big data from Nielsen Catalina Solutions—a joint venture that creates a single-source panel of consumers from the sixty million loyalty-card holders from grocery stores and the Nielsen TV panel of two to three million households. The single-source data gave the team interesting insights on the actual TV shows that Nacho Cheese aficionados were watching. In one test using this data, the team found that superconsumers were fifteen times more responsive to Nacho Cheese advertising than other consumers! The vice president of marketing noted that the brand’s marketing objective was to have a conversation with superconsumers about their love for Nacho Cheese, but to do so in a way that potential superconsumers could listen in.
The beauty of all this was that the data the team used to improve innovation, retail activation, and marketing was already there. Superconsumers gave the marketers a way to synthesize the data into a coherent and coordinated set of actions and metrics. Looking at superconsumers like Laura, the team gained confidence that the strategy had even more upside. And the team saw the potential and ran with it.
Want to know a simple, speedy, and sustainable path to superior growth? Order Eddie Yoon’s Superconsumers here!
This is an excerpt from Eddie Yoon’s Superconsumers.
Credit: Abhishek Singh

STAR: The Mantra to Develop a Caring Mindset

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Subir Chowdhury has helped numerous corporations to climb up the ladder of success in the course of his career. However, he has observed that while some companies benefit only marginally from the training others do exponentially well.
Chowdhury credits ‘a caring mindset’ as the difference in the performance of the two companies. Furthermore, he states that a caring mindset contains four facets.
The four facets make up a useful and memorable acronym: STAR. Here’s what it stands for:
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Do you agree with Subir Chowdhury?
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