Purpose An experience marketing case: Land Rover Ltd. transformed the test drive into a personal learning and loyalty experience for their customers and potential customer “Guests” at a global network of Land Rover Experience Centres. Design/methodology/approach The Land Rover Experience platform, in the marketing role it has today, started to take shape in the late 1990s when the author and his associates began to craft it into a viable business strategy. As a case study, it offers executives a how-to guide to “marketing experiences.” Findings Land Rover enthusiasts and owners consider themselves Land Rover people but many need off-road training to familiarize themselves with all the car’s features used in rough terrain driving. Practical implications Two decades after pioneering the program, when the author retired in 2019, there were over 65 experience operations in place with more than one million Guests a year actively participating in Jaguar and Land Rover experience programs around the world. Originality/value The question for corporate executives should not be “How do we build Guest experiences into our marketing plan?” In many businesses the question needs to be “How do we build our marketing plan around rich and memorable Guest experiences?” Contribution to Impact
{"title":"The Land Rover “Guest experience” marketing concept","authors":"J. Lloyd","doi":"10.1108/sl-06-2021-0056","DOIUrl":"https://doi.org/10.1108/sl-06-2021-0056","url":null,"abstract":"Purpose\u0000An experience marketing case: Land Rover Ltd. transformed the test drive into a personal learning and loyalty experience for their customers and potential customer “Guests” at a global network of Land Rover Experience Centres.\u0000\u0000Design/methodology/approach\u0000The Land Rover Experience platform, in the marketing role it has today, started to take shape in the late 1990s when the author and his associates began to craft it into a viable business strategy. As a case study, it offers executives a how-to guide to “marketing experiences.”\u0000\u0000Findings\u0000Land Rover enthusiasts and owners consider themselves Land Rover people but many need off-road training to familiarize themselves with all the car’s features used in rough terrain driving.\u0000\u0000Practical implications\u0000Two decades after pioneering the program, when the author retired in 2019, there were over 65 experience operations in place with more than one million Guests a year actively participating in Jaguar and Land Rover experience programs around the world.\u0000\u0000Originality/value\u0000The question for corporate executives should not be “How do we build Guest experiences into our marketing plan?” In many businesses the question needs to be “How do we build our marketing plan around rich and memorable Guest experiences?”\u0000\u0000Contribution to Impact\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48826580","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose By clearly mapping the pathway for managing the early stages of any marketplace analysis project, its definition, scope, framing, focus, perspective, context, imagination and data choices – the odds of generating important strategic insight can be greatly increased for executives as well as analysis teams. Design/methodology/approach A marketing analysis team should pay specific attention to how it organizes the analysis context’a process called “Structuring”. Findings A working definition of insight: new marketplace understanding that makes a difference to the organization’s thinking, decision making and action. Practical/implications 10; Nothing constricts the insight structuring process as much as lack of imagination! Originality/value The choice of analysis scope, framing, focus, perspective or methods is a critical part of the marketplace analysis structuring process that increases the possibility of distinctly different strategic inferences emerging. The article is a much needed guide to mastering strategic insight for executives and marketplace analysts.
{"title":"The pathway to marketplace insight: structuring the analysis context","authors":"Liam Fahey","doi":"10.1108/sl-04-2021-0043","DOIUrl":"https://doi.org/10.1108/sl-04-2021-0043","url":null,"abstract":"\u0000Purpose\u0000By clearly mapping the pathway for managing the early stages of any marketplace analysis project, its definition, scope, framing, focus, perspective, context, imagination and data choices – the odds of generating important strategic insight can be greatly increased for executives as well as analysis teams.\u0000\u0000\u0000Design/methodology/approach\u0000A marketing analysis team should pay specific attention to how it organizes the analysis context’a process called “Structuring”.\u0000\u0000\u0000Findings\u0000A working definition of insight: new marketplace understanding that makes a difference to the organization’s thinking, decision making and action.\u0000\u0000\u0000Practical/implications\u000010; Nothing constricts the insight structuring process as much as lack of imagination!\u0000\u0000\u0000Originality/value\u0000The choice of analysis scope, framing, focus, perspective or methods is a critical part of the marketplace analysis structuring process that increases the possibility of distinctly different strategic inferences emerging. The article is a much needed guide to mastering strategic insight for executives and marketplace analysts.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46507420","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose The author offers a five-step “ERY method’ that expands the thinking around the core idea of a business” basic function and ideally translates it into an experience that is new and unique in the world. Design/methodology/approach Illustrates how experience designers use creative ideation as an effective method to help understand how to elevate an offering transaction to memorable customer experience. Findings The challenge for business is to avoid commoditization by producing engaging experiences that differentiate their offerings of services and goods. Originality/value Experience design has become a key skill for executives now that the competitive advantage and the economic value experiences create has become a critical success factor for corporations in many markets. This approach to ideation of experience design is unique.
{"title":"A five-step experience design ideation lesson for corporate leaders","authors":"Kevin M. Dulle","doi":"10.1108/sl-07-2021-0068","DOIUrl":"https://doi.org/10.1108/sl-07-2021-0068","url":null,"abstract":"\u0000Purpose\u0000The author offers a five-step “ERY method’ that expands the thinking around the core idea of a business” basic function and ideally translates it into an experience that is new and unique in the world.\u0000\u0000\u0000Design/methodology/approach\u0000Illustrates how experience designers use creative ideation as an effective method to help understand how to elevate an offering transaction to memorable customer experience.\u0000\u0000\u0000Findings\u0000The challenge for business is to avoid commoditization by producing engaging experiences that differentiate their offerings of services and goods.\u0000\u0000\u0000Originality/value\u0000Experience design has become a key skill for executives now that the competitive advantage and the economic value experiences create has become a critical success factor for corporations in many markets. This approach to ideation of experience design is unique.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43627349","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose In his new book Better, Simpler Strategy: A Value-Based Guide to Exceptional Performance, Felix Oberholzer-Gee offers business leaders and strategists guidance on a basic idea: unless an initiative creates value for customers, employees or suppliers, it is a waste of time and resources. Design/methodology/approach In this interview with S&L contributing editor Brian Leavy, Prof. Felix Oberholzer-Gee explains: “All you need to ask is, ‘Can my organization create differentiated value, can we raise customer willingness-to-pay (WTP) or lower employee and supplier willingness-to-sell (WTS)?’”. Findings Value-based strategy is “back-to-basics” in the sense that the approach insists on value creation as the foundation for every activity in the business. Practical/implications A comprehensive understanding of employees’ work lives is likely to reveal many chances to create value. Originality/value The interview explains why and how firms should seek to exceed expectations where it counts, and sustain excellence by diverting resources from lower-ranked value drivers.
{"title":"Felix Oberholzer-Gee: The formula for keeping your strategy simple and focused","authors":"B. Leavy","doi":"10.1108/SL-07-2021-0061","DOIUrl":"https://doi.org/10.1108/SL-07-2021-0061","url":null,"abstract":"\u0000Purpose\u0000In his new book Better, Simpler Strategy: A Value-Based Guide to Exceptional Performance, Felix Oberholzer-Gee offers business leaders and strategists guidance on a basic idea: unless an initiative creates value for customers, employees or suppliers, it is a waste of time and resources.\u0000\u0000\u0000Design/methodology/approach\u0000In this interview with S&L contributing editor Brian Leavy, Prof. Felix Oberholzer-Gee explains: “All you need to ask is, ‘Can my organization create differentiated value, can we raise customer willingness-to-pay (WTP) or lower employee and supplier willingness-to-sell (WTS)?’”.\u0000\u0000\u0000Findings\u0000Value-based strategy is “back-to-basics” in the sense that the approach insists on value creation as the foundation for every activity in the business.\u0000\u0000\u0000Practical/implications\u0000A comprehensive understanding of employees’ work lives is likely to reveal many chances to create value.\u0000\u0000\u0000Originality/value\u0000The interview explains why and how firms should seek to exceed expectations where it counts, and sustain excellence by diverting resources from lower-ranked value drivers.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42554356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Rita Gunther McGrath, Alexander B van Putten, R. Pierantozzi
Purpose The authors offer a new metric for assessing a company's potential for growth that CEO's and leadership teams can actively manage. Design/methodology/approach The Imagination Premium metric reflects the value of a company's equity, beyond what can be readily explained by its ability to throw off cash. Findings For a CEO, TIP provides support for an argument that investments in future growth are well warranted. Practical/implications A negative TIP signals that investors will not even pay for the capitalized value of current cash flow and this usually leads to activist investors, hostile acquisition threats and C-suite turnover. Originality/value The article shows executives how to drive the premium investors will pay for corporate growth initiatives. One of the first things strategists can do to manage their company's TIP is a portfolio analysis that looks at how uncertain each current investment is, and whether the whole portfolio is one growth investors will reward with an increased TIP.
{"title":"The Imagination Premium: an anticipative performance metric","authors":"Rita Gunther McGrath, Alexander B van Putten, R. Pierantozzi","doi":"10.1108/SL-03-2021-0028","DOIUrl":"https://doi.org/10.1108/SL-03-2021-0028","url":null,"abstract":"Purpose\u0000The authors offer a new metric for assessing a company's potential for growth that CEO's and leadership teams can actively manage.\u0000\u0000Design/methodology/approach\u0000The Imagination Premium metric reflects the value of a company's equity, beyond what can be readily explained by its ability to throw off cash.\u0000\u0000Findings\u0000For a CEO, TIP provides support for an argument that investments in future growth are well warranted.\u0000\u0000Practical/implications\u0000A negative TIP signals that investors will not even pay for the capitalized value of current cash flow and this usually leads to activist investors, hostile acquisition threats and C-suite turnover.\u0000\u0000Originality/value\u0000The article shows executives how to drive the premium investors will pay for corporate growth initiatives. One of the first things strategists can do to manage their company's TIP is a portfolio analysis that looks at how uncertain each current investment is, and whether the whole portfolio is one growth investors will reward with an increased TIP.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45666357","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose The recent IBM Institute for Business Value CEO survey of 3,000 chief executives globally offers insight into CEO attitudes and behaviors in order to discern the strategies and actions most highly correlated to successful digital transformation and performance. Design/methodology/approach The IBM Institute for Business Value, in collaboration with the Oxford Economics, surveyed 3,000 CEOs and senior public sector executives between September and November 2020. The analysis identified a group of CEOs whose outlook on transformation and success with digital implementation sets them apart from others. Findings These Dynamic CEOs, who represent 38 percent of all commercial leaders in the IBM IBV research, shared two crucial insights: that traditional business models no longer differentiate their organizations; their organization?s digital transformation journey will never be complete. Practical/implications These Dynamic CEOs are almost 70 percent more likely to lead high performing organizations than other top leaders. Originality/value Almost 90 percent of Dynamic CEOs expect their business and IT investments to deliver a material improvement in business performance over the next three years, with the greatest emphasis on investments in customer experience improvement, decision-making processes and business agility.
{"title":"How “Dynamic CEOs” outperformed by adopting a transformation mindset","authors":"Haynes Cooney, Peter J. Korsten, Anthony Marshall","doi":"10.1108/SL-06-2021-0055","DOIUrl":"https://doi.org/10.1108/SL-06-2021-0055","url":null,"abstract":"\u0000Purpose\u0000The recent IBM Institute for Business Value CEO survey of 3,000 chief executives globally offers insight into CEO attitudes and behaviors in order to discern the strategies and actions most highly correlated to successful digital transformation and performance.\u0000\u0000\u0000Design/methodology/approach\u0000The IBM Institute for Business Value, in collaboration with the Oxford Economics, surveyed 3,000 CEOs and senior public sector executives between September and November 2020. The analysis identified a group of CEOs whose outlook on transformation and success with digital implementation sets them apart from others.\u0000\u0000\u0000Findings\u0000These Dynamic CEOs, who represent 38 percent of all commercial leaders in the IBM IBV research, shared two crucial insights: that traditional business models no longer differentiate their organizations; their organization?s digital transformation journey will never be complete.\u0000\u0000\u0000Practical/implications\u0000These Dynamic CEOs are almost 70 percent more likely to lead high performing organizations than other top leaders.\u0000\u0000\u0000Originality/value\u0000Almost 90 percent of Dynamic CEOs expect their business and IT investments to deliver a material improvement in business performance over the next three years, with the greatest emphasis on investments in customer experience improvement, decision-making processes and business agility.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43685303","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose The author discusses the challenges of implementing a digital ecosystem, a way of transcending the boundaries of a firm to include additional producers to provide more value to customers and also by making customers active partners. Design/methodology/approach An ecosystem is intentionally organized to generate, facilitate and benefit from interactions rather than transactions. Findings The author explains how firms can make the customers active participants in creating and evolving the network by embracing the dynamic concept of an ecosystem. Practical/implications The ecosystem becomes more valuable to users as more users join. Originality/value Essential reading for executives experimenting with corporate digital platforms.
{"title":"Mastering the challenge of business ecosystems","authors":"S. Denning","doi":"10.1108/SL-06-2021-0057","DOIUrl":"https://doi.org/10.1108/SL-06-2021-0057","url":null,"abstract":"Purpose\u0000The author discusses the challenges of implementing a digital ecosystem, a way of transcending the boundaries of a firm to include additional producers to provide more value to customers and also by making customers active partners.\u0000\u0000Design/methodology/approach\u0000An ecosystem is intentionally organized to generate, facilitate and benefit from interactions rather than transactions.\u0000\u0000Findings\u0000The author explains how firms can make the customers active participants in creating and evolving the network by embracing the dynamic concept of an ecosystem.\u0000\u0000Practical/implications\u0000The ecosystem becomes more valuable to users as more users join.\u0000\u0000Originality/value\u0000Essential reading for executives experimenting with corporate digital platforms.\u0000","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44262730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Innovation has become an obsession, one regularly deemed by business gurus as “the most important force in our economy,”[1] and leading business executives often proclaim it as a core business strategy. According to a recent McKinsey study, 84 percent of executives think that innovation is important to their growth strategy.[2] And though 56 percent of firms surveyed by KPMG reported that their overall innovation investment would increase from 2019 to 2020, only 43 percent of firms have well-defined processes for innovation in place.[3] And just 6 percent of executives are satisfied with their innovation performance.[4]
{"title":"Driving strategic innovation","authors":"Michael K. Allio","doi":"10.1108/sl-03-2021-217","DOIUrl":"https://doi.org/10.1108/sl-03-2021-217","url":null,"abstract":"Innovation has become an obsession, one regularly deemed by business gurus as “the most important force in our economy,”[1] and leading business executives often proclaim it as a core business strategy. According to a recent McKinsey study, 84 percent of executives think that innovation is important to their growth strategy.[2] And though 56 percent of firms surveyed by KPMG reported that their overall innovation investment would increase from 2019 to 2020, only 43 percent of firms have well-defined processes for innovation in place.[3] And just 6 percent of executives are satisfied with their innovation performance.[4]","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43213058","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Open innovation: digital technology creates new opportunities","authors":"Anthony Marshall, Jacob Dencik, R. Singh","doi":"10.1108/sl-04-2021-0036","DOIUrl":"https://doi.org/10.1108/sl-04-2021-0036","url":null,"abstract":"","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42632800","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Purpose before profit: unleashing individual and collective “human magic”","authors":"H. Joly","doi":"10.1108/SL-04-2021-0037","DOIUrl":"https://doi.org/10.1108/SL-04-2021-0037","url":null,"abstract":"","PeriodicalId":39797,"journal":{"name":"Strategy and Leadership","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44889292","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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