CEO interview: Finding the optimal funding approach for a startup in Korea
26 October 2012 — Jong-ik Kwon (31), the CEO of iPetBrand, is an entrepreneur with a solid academic background. The idea for his current venture, iPetBrand, stemmed from Mr. Kwon’s love for animals and people who care about animals. iPetBrand seeks to integrate the vet network with the value chain, and Mr. Kwon’s vision is to make iPetBrand the most recognized brand in pet care. To fulfill this, he needed funding. We talked to Mr. Kwon about his fundraising experiences.
Securing strategy implementation through iterative operating model design
21 September 2012 — One of the most common debates in management literature is whether the strategy or the operating model should deserve more focus. The answer is usually something in between – strategy alone does not determine a successful company, but an operating model does not do that either. The trick lies in designing the equilibrium between these two; ensuring that the strategy is implemented through a good operating model design.
Using a (massively) participative strategy process for corporate change – lessons learned
21 September 2012 — The competitive environment of all companies, whether large or small, is getting increasingly complex and fast-changing. To address this, the strategy process in many companies has been developed towards larger participation. Using crowdsourcing as a part of the strategy process seems to be the topic of the day among consultants advocating new approaches.
Stochastic budgeting – forecasting large uncertain sales projects
21 June 2012 — Today’s markets are increasingly sensitive, and analysts react strongly to even the slightest unexpected events in a company’s performance. The efficiency of markets to share, disseminate and analyze data is seen in the increased volatility that seems to affect companies even in the most stable industries. Sales budgeting and forecasting is an area where even basic improvements can yield a much deeper insight into the company’s situation and outlook.
From pricing theories to concrete analyses, decisions and actions
20 June 2012 — Everyone acknowledges that pricing is a key contributor for business results. However, pricing is much more than setting up a right price level. This article gives an overview on how pricing analytics should be done, what are the key decision points in a pricing model and what must be taken into account to ensure a successful implementation of a pricing model.
Pushing innovation and cost effectiveness through Design-to-Cost
5 April 2012 — In industries such as automotive, IT and telecom the drive for continuous innovation while reducing costs have long been the norm. The same trend has spread to other areas as well, touching both products and services; customers want more, but they want it for less. There is an increased demand for simultaneous innovation and cost reduction
Leveraging professional financial management practices to drive small and medium-sized company growth
5 April 2012 — Growth of small and medium-sized enterprises (SMEs) is crucial for the Finnish economy, but based on earlier research, there are only few companies who have actually grown to revenues of 200-500M€, and practically no companies have grown to above 1000M€ of revenue during the past 20 years. One of the reasons we have found is that the finance function of a normal SME does not support its growth journey well enough, leaving one important value creation lever under-utilized.
Lessons from entering South Korea – build for the long term, no quick wins
14 February 2012 — South Korea has been one of the strongest nations in the world when it comes to long term GDP growth. Since the Korean war, this country’s rise to a leading technology player has been simply amazing. This article describes our experiences building a business presence in Seoul.