Let us cover in the July e news:
- Entrepreneurship lessons
- Driving Digital Strategy
- Becoming a Doctor at Asia Metropolitan University
- SMR news
Over the last couple of months, I have been flooded with articles and enquiries about entrepreneurship at the University. One article that appeared on LinkedIn that I found interesting was the one by Cheryl Sew Hoy, former Founding CEO of Magic, Malaysia, an organisation that supports entrepreneurship. While her article is a seven-part article, I summarise here some key learning points:
- Indecision is worse than making a bad decision.
- Be comfortable with the uncomfortable, and uncomfortable with the comfortable.
- Life is not fair, and it was never meant to be.
- Just figure out what you don't want to do, and eventually, you'll get closer to what you do want to do.
- Small deeds done are better than great deeds planned. Quick visible output is a good sign of progress.
- "Speed to output" is the biggest advantage one can have in this industry. "Move fast and break things".
To follow her writing please visit https://www.linkedin.com/pulse/top-5-lessons-i-learned-taking-risks-action-17-cheryl-sew-hoy/?trk=eml-email_feed_ecosystem_digest_01-recommended_articles-7-PBYN&midToken=AQGFchAnp-3jww&fromEmail=fromEmail&ut=1teS6QHHjVpEo1
Driving Digital Strategy
A new book by Harvard Professor Sunil Gupta, "Driving Digital Strategy," explores how traditional businesses can make the leap into the digital age. In an interview with Sean Silverthorne, Professor Sunil Gupta makes some very pertinent points.
While digital transformation can be a threat to the old guard as the old guard found out – to name the taxis, newspapers and the coal industry. Sunil’s book is more positive with ideas for companies from traditional industries. He says the opportunities are endless, but one should reimagine what their business should be.
He says “companies, such as Amazon, which grew up with a digital DNA, have obviously integrated digital in all aspects of their business. Among the legacy companies I found Adobe, The New York Times (NYT), Goldman Sachs, and Mastercard to be at the forefront of embracing an end-to-end digital strategy”. He adds that digital strategy requires rethinking all aspects of business–business strategy, operations, customer engagement, and organisation structure.
Additionally, he adds that a digital transformation journey must begin by understanding consumer pain points and then using technology to find a solution. This focus on addressing consumer pain points, he says, has led (Amazon CEO) Jeff Bezos to obsess about reducing friction in commerce. He argues that strategy heads must not adopt a product focused approach that talks about a product being better or cheaper but consider two additional forces complements and network effects.
To read more please visit https://hbswk.hbs.edu/item/developing-a-strategy-for-the-digital-world?cid=spmailing-21599794-WK%20Newsletter%2008-22-2018%20(1)-August%2022,%202018
Look forward to being in touch with you later this month.
With Best wishes