So what are AirAsia Success Factors? He left his job to pursue a childhood dream:
AppleCRMleadershipopen sourcepoliciessalesforcetransparency InWalt DuLaney and I conducted a longitudinal examination of business growth and cumulative revenue performance. Among the success factors, we found that companies with powerful business platforms outperformed peers in cumulative revenue growth over a 15 year period.
Since then, the sophistication of business platforms and their related ecosystems has expanded and other companies have found success. A growing body of experience indicates that business platforms coupled with an ecosystem of partners can produce superior economic value.
As those partners cooperate and work together they collectively learn, innovate and expand their options for new product features, additional partnerships, and new platform components. The platform plus the ecosystem becomes a sustainable economic engine for growth and development.
Here are twelve success factors for business platforms based on our work at nGenera Insight. The first seven are business-related success factors. The second five are technology-success factors. The list reflects current understanding and is far from comprehensive. Nonetheless, it provides a starting point for companies interested in sustainable growth.
All successful platforms begin with leadership, vision and a clear persistent purpose. A Vibrant Ecosystem — An ecosystem is an economic community. An ecosystem thrives when all parties experience mutual economic benefit.
In an ecosystem, motivated, persistent participation and contribution is driven by enlightened self-interest which benefits the whole. The business platform provides the architecture, policies, rules, transactional frameworks, and the information necessary for the ecosystem to operate.
Competitive Velocity — How does a company outcompete its rivals and grow? IBM got platform and ecosystem fever with Linux. By investing in the Linux platform, its world-wide development community, and its related ecosystem, IBM was able to grow a new operating system faster than it could do by itself and enlist more developers than it could possibly afford.
The Incredible Power of Company-Wide Goal Alignment & Organizational Business Goals. If your company is like many other small and mid-sized businesses, your employees represent both your organization's biggest line item expense, and your most valuable asset. Since last week was national customer service week (hat tip to Toby Bloomberg), I thought of writing a top ten list of customer service success factors. 1. You’re doing all the listening – you. Critical success factor (CSF) is a management term for an element that is necessary for an organization or project to achieve its mission. Alternative terms are key result area (KRA) and key success factor (KSF). A CSF is a critical factor or activity required for ensuring the .
Extensible Business Architecture — Business platforms must be conceived, from the outset, as an unfinished masterpiece. The difference between an applications project and a business platform is that a business platform is never finished. When a platform is finished it is at the end of its life.
Learning creates new directions and options. New options create new opportunities for growth, alternative futures and other avenues for competitive action.
Transparency — Transparency fosters beneficial contagion and excitement among the ecosystem members and interested parties.
An examination of any successful business platform reveals alternative futures. Alternative future means options. Options can be valued and hence the investment community can estimate the expected value of such potential futures and model a resulting perpetuity calculation.
Transparency attracts new partners and helps existing ecosystem partners to co-create the future of business platform.
As momentum builds, transparency also strikes fear in the competitors. Policies and Rules — Policies and rules are essential otherwise chaos reigns and the platform and related ecosystem dies.
The business platform becomes the repository and the enforcer of policies and rules. The business platform also communicates changes in rules. Consider the rules propagated and enforced in the iPhone ecosystem, or the Android ecosystem through the hardware architecture, operating system architecture, the business architecture and the rules and policies for these respective ecosystems.
Analytics — Business platforms generate prodigious amount of data continuously. One of the most powerful advantages of a business platform stems from the collection and analysis of strategic, situational, transactional and detailed usage data.
As the data is collected powerful visualization and analytic tools can provide a combination of real-time and longitudinal analyses. The closed-loop nature of the data collection process inherent in the business platform enable the platform leaders and ecosystem partners to run experiments, continuously improve products and rapidly evaluate potential business strategies and directions.
It is very difficult to duplicate this type of analytic capability in a non-platform business model.Accomplishing critical success factors—and therefore achieving strategic business success—is an attainable goal. Find out how. There are nine success factors that you must know in order to start moving forward in life.
Each one of these success factors has been proven to be critical to the achievement of . In , Walt DuLaney and I conducted a longitudinal examination of business growth and cumulative revenue performance.
Among the success factors, we found that companies with powerful business platforms outperformed peers in cumulative revenue growth over a 15 year period.
Types of Critical Success Factors – CSF. There are four basic types of Critical Success Factors CSF’s.
They are: Industry Critical Success Factors (CSF’s) resulting from specific industry characteristics; Strategy Critical Success Factors (CSF’s) resulting from the chosen competitive strategy of the business;; Environmental Critical Success Factors (CSF’s) resulting from economic .
Critical Success Factor (CSF) or Critical Success Factors Is a business term for an element which is necessary for an organization or project to achieve its mission. For example, a CSF for a successful Information Technology (IT) project is user involvement.
Whether you are managing a restaurant, nonprofit organization or a church, it is important to know that you are focusing on those things that help move the organization forward and achieving results.