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Operational Innovation

By KyoungHee Choi While culture is widely recognized as an important lever to grow brands, increase productivity, improve revenue while improving safety and customer experience outcomes, many organizations still find to drive and manage something that feels intangible. In challenging times, it may seem hard to invest time and resources into something that can’t easily be measured, like “company culture”. Especially when the very survival of your company itself is at stake. However, culture is far more than an abstraction. It is critical to bringing your values to life and to driving business success. In challenging times it’s even more important

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By KyoungHee ChoiUntil the pandemic hit, the sharing economy was disrupting many business models and was a trending topic of discussion in business circles. Renting out assets to other people as a business model has been around for decades. However, modern technology allowed for new ways to connect owners with buyers with greater ease and convenience. This mega trend impacted nearly all business sectors such as transportation (i.e. Uber, Lift), hotel (i.e. Airbnb), consumer goods (i.e. Ebay, Etsy, Rent the runaway), professional/personal services (i.e. Fiverr, Upwork) and health care (i.e. American well, Doctor on demand). Many factors helped accelerate this key trend

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By Kyounghee Choi Have you ever imagined that an Orchestra is just like an Organization? Orchestras are a great place to explore lessons in leadership. I recently went to the Symphony Orchestra with my husband and was amazed by how each instrument can harmoniously integrate to make magic that exceeds the sum of all the instruments. There’s no doubt that musicians practice hard to make everything sound so perfect. But how do they perfectly align with each other? Orchestras are usually led by a conductor who directs the performance with movements of the hands and arms. The conductor is the leader of

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By KyoungHee Choi Let’s face it. Most entrepreneurs are struggling amid this COVID-19 pandemic shutdown. The longer it continues, the more business will be crippled by the crisis and might not be able to recover. We are facing an unprecedented storm. Everyone is faced with incredible uncertainty. While businesses are rapidly adjusting their business plans, and working to quickly adapt to a new reality, it becomes critically important to focus on defensive moves that will maintain cash flow and long-term relationships with clients. Equally as important is the need to continuously find time to innovate, rethink business models and find new opportunities that

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By Eric Michrowski There's an old aphorism that is apocryphally attributed to Abraham Lincoln, which deals with the subject of cutting down a tree. 'Give me six hours to chop down a tree,' the saying goes, 'and I will spend the first four sharpening the axe.' Various other versions of the saying exist, changing the times involved, but all with the same central thesis: use the majority of the time allotted to prepare for the task. Lincoln – or whomever the anonymous woodcutter at the root of this statement is – has oft been credited with an insightful observation about the necessity

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By Kyounghee Choi Here are three powerful principles to help guide your decision-making across both your business and personal life as you navigate through this black swan crisis. There is no perfect formula, case study, analysis or best practice that can be relied upon as this crisis is so unique by its very nature. However, the role of the leader is so critical to ensure long term success. Decisions being made today will help guide whether you survive, thrive or fail when calm waters arrive. Leaders need to have a deeper understanding of what is happening and secure the support of

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