Konsälidön

24/09/2018

"Most consulting firms operate by business function. That is, they have organized their consulting operations around the various functions that a business has to perform, such as marketing, finance, strategy, etc. These consultants are brought in to fix a very specific problem in a very specific part of a business. This may help businesses to some extent, but I personally believe it is too “symptomatic” of an approach, and is not delivering optimal value."

Symptom-based healthcare vs. Holistic care Have you ever watched a commercial for a pharmaceutical drug? Doesn’t it usually seem like the medicine is

19/09/2018

"A team may not have much going for it in terms of financial resources, talent, coaching, or anything else. On paper, the team may be totally mismatched. Yet, on any given day, with a good strategy or a great team effort, a complete underdog can topple a behemoth."

The story of David and Goliath has captured hearts for millennia. Their two respective armies were at war. Goliath of Gath was a fearsome giant,

12/09/2018

"Our story begins one fine Monday morning as Victor and Bernice, two Managing Directors at a reputable boutique consulting firm, are going through their emails…"

https://hubs.ly/H0dgTvW0

Our story begins one fine Monday morning as Victor and Bernice, two Managing Directors at a reputable boutique consulting firm, are going through

08/09/2018

|| Path dependency in market entry for SMEs ||

(4/4) Investopedia defines path dependency in the following way:

“Path dependency is an idea that tries to explain the continued use of a product or practice based on historical preference or use. This holds true even if newer, more efficient products or practices are available due to the previous commitment made. Path dependency occurs because it is often easier or more cost effective to simply continue along an already set path than to create an entirely new one.”

The authors concluded through their research that more rational decision-makers were less dependent on their past experiences to guide decisions. They considered more alternatives and options in post-entry phase and were more open to being flexible and changing approaches. They were less path dependent. Less rational decision-makers considered fewer alternatives, had fewer operating models at their disposal, and stuck to models they were familiar with.

We know that rational decision-making is tied to higher performance. When you find yourself taking shortcuts to making decisions based solely on what has worked in the past, stop! Remember to consider a wider array of options and alternatives before moving forward. Remember the old adage, “past performance is no guarantee of future results.”

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Source: International Market Entry: How do Small and Medium-Sized Enterprises Make Decisions, Ahi et al. Journal of International Marketing (https://hubs.ly/H0dgSwL0)
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Do you recall a business decision you made outside of the tried and tested path?

Request PDF on ResearchGate | International Market Entry: How do SMEs Make Decisions? | Choosing the right international market entry mode is of utmost importance for an internationalizing firm. However, there is a lack of analysis concerning the decision-making process (DMP), specifically with rega...

06/09/2018

"Very quickly, the freedom you were hoping for when you started your business can turn into administrative drivel, endless phone calls, frequent firefighting, and other non-value added activities that demand your attention.

And yet here you are, still fighting for your vision."

What is the greatest human value? Huriya. Azaadi. Freiheit. Liberté. Libertad. Freedom. It is freedom that is the greatest virtue that the human mind

05/09/2018

Our latest Subject Matter Expert to join the Konsälidön ecosystem Chris Debner writes, "Always consider the 3 B's of deciding on the use of flexible workforce: Buy - Build or Borrow." If you experience skill/resource gaps in your organization, read this:

For giggers, freelance consultants or anyone who is looking to fill a skill, resource or experience gap in your organisation. For recruiters,

01/09/2018

|| Decision-making and time frames in market entry for SMEs ||

(3/4) In continuation of this mini-series about market entry strategy, we examine the link between rationality and time-frames in decision-making.

The authors hypothesized that the degree of rationality in a decision-making process directly correlates to the length of the time-frame that the decision would play out in. Their observations confirmed that more rational SMEs were, the more long-term thinking and perspective they embodied.

They found that less rational decision makers look at information from a short-term perspective.

As we noted in an earlier post, these researchers found that more rational decision-making was tied to better overall performance. Be aware of when you are falling into the trap of making short-term decisions in the face of external and internal pressures.

Take a step back and “play the long game” with a more rational and methodical approach.

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Source: International Market Entry: How do Small and Medium-Sized Enterprises Make Decisions, Ahi et al. Journal of International Marketing (https://hubs.ly/H0dgTw20)

Request PDF on ResearchGate | International Market Entry: How do SMEs Make Decisions? | Choosing the right international market entry mode is of utmost importance for an internationalizing firm. However, there is a lack of analysis concerning the decision-making process (DMP), specifically with rega...

27/08/2018

"Predictability is also highly valued in the business world. When businesses that produce products or provide services are facing demand in excess of the amount of throughput they are able to supply due to their operational constraints, they are losing a lot of potential revenue. Per contra, when the business is faced with a dearth of demand and an excess of supply, it is bleeding money in the form of underutilized resources. This problem is literally why Happy Hour exists."

https://hubs.ly/H0dgSw30

I’m sorry to offend you, but you are not a rational person. To be fair, neither am I. We like to think that we go through our lives making rational,

20/08/2018

Team Konsälidön wishes you a blessed Eid al-Adha.

18/08/2018

|| How rationality improves performance for SMEs ||

(2/4) The authors conducted a qualitative analysis of 6 companies and their market entry approaches. They proposed that companies following ROR to make decisions related to market entry strategy and future changes would achieve higher performance than those using less rational decision-making.

Their analysis confirmed this hypothesis. Planning for the future in advance, instead of reacting to the market, was found to be the most effective strategy for market entry.

For example, one company that they studied, established a sales subsidiary in South Africa only after it had acquired a large amount of market knowledge, established a strong network, and compared various alternatives. The company felt it had been successful in the market.

On the other hand, another company that they studied entered the U.S. market using incremental decision-making. They entered the market through a sales subsidiary because it “seemed to be a big, promising market.” After substantial investment costs, they realized that the U.S. market was more complicated than anticipated and they were compelled to phase out their operations, losing millions of Euros in the process.

The research concluded that “SMEs adopting a more rational decision-making model, such as ROR, are more successful in their international operations. Such SMEs have a rigorous approach to planning, are less path-dependent, and have a longer DMP. (Decision-making process).”

So, a more rational, methodical decision-making process is more effective for SME’s. In the next few posts, we will examine how various environmental contexts affect how decisions are made, so that you can be aware of when you are not following sound decision-making processes.

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Source: International Market Entry: How do Small and Medium-Sized Enterprises Make Decisions, Ahi et al. Journal of International Marketing(https://hubs.ly/H0dgTw80)

Request PDF on ResearchGate | International Market Entry: How do SMEs Make Decisions? | Choosing the right international market entry mode is of utmost importance for an internationalizing firm. However, there is a lack of analysis concerning the decision-making process (DMP), specifically with rega...

14/08/2018

Ideas and models which defined the consulting industry are no longer as effective and viable as they were in the past. Clients expect more from their advisors as they require that much more to survive in today’s market.
Read on:
https://hubs.ly/H0dgTtR0

Hungry Beginnings Imagine this… It's lunchtime, you're hungry, and you're looking for a restaurant to eat at. You have narrowed your choices down to 3