TradeBriefs Editorial

From the Editor's Desk

Why digital strategies fail

When we talk with leaders about what they mean by digital, some view it as the upgraded term for what their IT function does. Others focus on digital marketing or sales. But very few have a broad, holistic view of what digital really means. We view digital as the nearly instant, free, and flawless ability to connect people, devices, and physical objects anywhere. By 2025, some 20 billion devices will be connected, nearly three times the world population. Over the past two years, such devices have churned out 90 percent of the data ever produced. Mining this data greatly enhances the power of analytics, which leads directly to dramatically higher levels of automation - both of processes and, ultimately, of decisions. All this gives birth to brand-new business models. Think about the opportunities that telematics have created for the insurance industry. Connected cars collect real-time information about a customer's driving behavior. The data allow insurers to price the risk associated with a driver automatically and more accurately, creating an opportunity to offer direct, pay-as-you-go coverage and bypassing today's agents.

Lacking a clear definition of digital, companies struggle to connect digital strategy to their business, leaving them adrift in the fast-churning waters of digital adoption and change. What's happened with the smartphone over the past ten years should haunt you - and no industry will be immune.

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TradeBriefs Editorial

From the Editor's Desk

To Succeed in a Negotiation, Help Your Counterpart Save Face

What do a human rights negotiation in Afghanistan, a crisis negotiation in Calgary, and a business dispute between a Brazilian and a Frenchman have in common? At first blush, nothing. However, when we dig deeper into these high-stakes negotiations, there is a common thread that connects them all. The concept of face.

What exactly is face? In their classic work on politeness, Penelope Brown and Stephen C. Levinson define face as "the public self-image that every member of a society wants to claim for himself/herself." Put differently, face is how people want to be perceived and connected to identity and dignity. When it comes to negotiation, it is about both sides preserving their and their organizations' reputations.

To understand the critical nature of face to negotiation success, consider the three cases I just mentioned

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TradeBriefs: What's important, not just what's popular!

Advertisers of the day

Kellogg ExecEd: Kellogg Digital Transformation Program | Network with Global Peers | Apply Now

Emeritus : PG Diploma in Digital Marketing Strategies in collaboration with Columbia Business School Executive Education | Apply

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TradeBriefs Editorial

From the Editor's Desk

Teetotalers emerge from the shadows in hard-drinking Japan

At a trendy Tokyo cocktail bar, customers sip brightly colored beverages with sophisticated flavor profiles, designed for a small but growing market in hard-drinking Japan: teetotalers.

At 0%, all the cocktails are nonalcoholic, but the bar is still something of an anomaly in Japan, where drinking is popular and considered an important part of business culture.

With alcohol as a lubricant, the formality that can govern the Japanese workplace slips away, and drinking - often heavily - with colleagues is seen as important to career advancement for some.

There's even a word for drinking with colleagues: nominikeshon, a portmanteau of the word for drink - nomi - in Japanese and the English word communication.

That has long put nondrinkers like Hideto Fujino, a 54-year-old fund manager, at a disadvantage, but he and others like him are speaking out - and finding they are not alone.

Continued here


TradeBriefs: What's important, not just what's popular!

Advertisers of the day

Kellogg ExecEd: Kellogg Digital Transformation Program | Network with Global Peers | Apply Now

Emeritus : PG Diploma in Digital Marketing Strategies in collaboration with Columbia Business School Executive Education | Apply

Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails.

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