Ram Charan is a world-renowned business consultant, author, and speaker who has spent the past 40 years working with many top companies, CEOs, and boards of our time. In his work with companies including Toyota, Bank of America, Key Bank, ICICI Bank, Aditya Birla Group, Novartis, Max Group, Yildiz Holdings, UST Global, Fast Retailing (Uniqlo), Humana, Matrix, Ram is known for cutting through the complexity of running a business in today’s fast changing environment to uncover the core business problem. Ram has coached more than a dozen leaders who went on to become CEOs. He reaches many more up-and-coming business leaders through in-house executive education programs. His energetic, interactive teaching style has won him several awards, including the Bell Ringer award at GE’s famous Crotonville Institute and best teacher award at Northwestern. He was among BusinessWeek‘s top ten resources for in-house executive development programs.
In the past, companies generally boasted of their greatest competitive advantage with the number of labour, capital, factories, land, physical assets, etc. Unfortunately, the rules of the game are changing and changing so fast and thanks to digitization. In this podcast episode, Dr Ram Charan , he provides an overview of how leaders — of both traditional and digital companies— can increase their chances of success in the digital age.
In this episode, we talked about how the tech giants (Netflix, Amazon, Alibaba and others ) have radically rewritten the rules of business. If you want to win, you need to learn to play a new game. He shares 6 rules and they're:
Rule #1. A personalized consumer experience is key to exponential growth.
Rule #2. Algorithms and data are essential weapons.
Rule #3. A company does not compete. Its ecosystem does.
Rule #4. Moneymaking is geared toward huge cash generation, not earnings per share, and the new law of increasing returns. Funders understand the difference.
Rule #5. People, culture, and work design form a “social engine” that drives innovation and execution personalized for each customer.
Rule #6. Leaders continuously learn, imagine, and break through obstacles to create the change that other companies must contend with.
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