Corporate CPR Episode 48: The Hidden Champions Market

On today’s show, we discuss the hidden champions market, what their success looks like, what makes them successful, and how you can apply those learnings to your organization.

Hermann Simon is the Founder and Honorary Chairman of Simon-Kucher & Partners, today the world’s leading price consultancy with 41 offices and 1600 employees.  From 1995 to 2009 he served as the CEO and is the firm’s Honorary Chairman today.  

He is an expert in strategy, marketing, and pricing, and the only German in the “Thinkers50 Hall of Fame” of the most influential management thinkers in the world. In German-speaking countries he has been continuously voted the most influential living management thinker. The magazine Cicero ranks him in the top 100 of the 500 most important intellectuals.

Professor Simon has published over 40 books in 30 languages, including world bestsellers on Hidden Champions and price management. His most recent book is True Profit! No Company Ever Went Broke from Turning a Profit. His new book Hidden Champions in the Chinese Century: Ascent and Transformation will be published this spring. 

Simon holds honorary doctorates from IEDC Business School of Bled (Slovenia), from the University of Siegen (Germany) and from Kozminski University Warsaw (Poland). He is a honorary professor at the University of International Business and Economics in Beijing. In China, the “Hermann Simon Business School” is named after him.

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Why Is Technical Project Management Important?

The success of your business doesn’t happen by chance. It requires precise planning and having the right people in the right positions working to make those goals come to fruition. The world we live in is technologically advanced, and that’s not going to change any time soon. To ensure your business is using technology to its advantage, it’s important to understand why having technical project management is so important.

The Importance of Technical Project Management

The people you hire to work for your company bring a specific set of expertise that is invaluable, but when it comes to technology, this is a field that is changing rapidly. Not everyone in your company is going to have the skills and experience necessary to keep your business operating optimally. They could learn, but how much time and effort is that going to take? Don’t you need them focused on the job you hired them for?

If you and your employees aren’t on top of the latest developments, your business might be falling behind. You have to be flexible and adaptable to make it in the ever-evolving world of business. When it comes to the importance of project management and technology and what it can do for you, here are some questions you need to consider:

Do You Have Experience With Hardware and Software Installation?

It takes more than just having computers in your office building to keep your company running. You need the right programs and systems to take care of business. If you don’t know what those are (or how they may change over time), then you might find yourself lagging behind your competition.

Do You Know How to Get Your Business in Front of Customers Online?

Not only do you need the right technology to keep your business running efficiently, but you also need to use technology to attract and retain customers. It’s not enough to have a website online anymore: you need a presence. With the right project management, finding and keeping customers will be a breeze.

Are You Familiar With Trends and Upcoming Changes in Technology?

Technology continues to advance, and if you aren’t keeping up with the latest trends and changes, you’re getting left behind. You have a lot on your plate when it comes to your responsibilities at work, and trying to stay on top of technological advancements is a full-time job.

With the right project management for technology, your business will stay on top of the latest technology trends and changes to keep you relevant, and you won’t have to add more tasks and duties to your plate or anyone else’s. You and your employees will be able to focus on what you do best.

Technology has been both a blessing and a curse when it comes to your business. In many ways, it has made it easier to get your product offerings in front of customers, but since it changes so rapidly, without the right expertise and education, keeping up can be challenging. Finding the right technical project management is essential, and if you’re ready to work with the best, contact Project Genetics today.

How to Stay Flexible and Efficient When It Comes to Your Workforce Management

When it comes to a workforce management system, the goal is efficiency. Efficiency and organization go hand in hand and together help lead a business towards success. WFM is a crucial component for many businesses, which is why WFM systems produce such incredible results. However, it’s essential that companies who implement these systems also remain flexible to maintain efficiency when dealing with schedules, people, data, and workflow.

How To Stay Flexible and Efficient When It Comes to Your Workforce Management

Consider the Human Element

Even after implementing a system designed to streamline business operations, schedules, data, and employees, it’s important that you remain flexible because, at the end of the day, you are still dealing with people, not robots. For example, even with seemingly perfect planning, there may be times when employees aren’t able to cover certain shifts, resulting in delays, which may cause temporary frustration.

Knowing this potential situation in advance and understanding that your technology is still managing human beings will allow you to pivot, redirect, and adjust as needed without feeling like the system has failed you or that you’ve failed in your role managing the system.

Employ the Right Overseers

The best way to ensure efficiency in this realm of your business is to find the right employee or employees to run or oversee your WFM system. A skilled, experienced, detail-oriented individual with a background in WFM systems will be able to allocate the right people at the right time to fill the necessary roles and meet the deadlines.

They will also understand the human element, create schedules and shifts that take the lives of the employees into account, and ensure that no one is overworking to the point that it’s negatively impacting their ability to produce results. Doing so will help ensure organization, a streamlined process, and overall business success.

Hire a Consultant

If your business needs a WFM system to ensure the successful outcome of one or more projects, the best way to ensure that your project is successful, stays within the budget parameters, and meets deadlines is by hiring consultants who specialize in WFM systems. A qualified consultant specializing in this aspect of business will take all of the guesswork out of this process for you and ensure that your project is successful.

Both smaller and larger businesses can benefit from hiring a consultant to handle this aspect of their business because they can trust that the management of that project, from the scheduling to the budget and everything in between, will be carefully monitored and directed in such a way that only leads to a positive and profitable and successful outcome.

At Project Genetics, we know that a successful outcome begins with a proven process. We understand the varying needs of larger and smaller businesses and different project demands. Whether you’re walking through a merger or acquisition or your project requires a quick turnaround, our team can help ensure flexibility and efficiency. Contact us today at Project Genetics to learn more about our WFM experience and how it can transform your next project and promote the ultimate success of your business.

Corporate CPR Episode 47: Navigating the Culture Wars with Jim Terry

On today’s show, we discuss how to best navigate the culture wars in your organization.

Jim Terry is a Strategic Communications Executive with nearly three decades of experience working in the state, local, and federal politics – including serving as the Political Director for the US Presidential campaign. A veteran of Capitol Hill, Jim has a special knack for helping businesses and organizations navigate the turbulence at the intersection of business and politics. From taxes to the culture wars, Jim has a unique approach to communicating in today’s outrage-driven environment, including the 5 opportunities most businesses are missing. Jim has appeared on Fox News, CNN, and countless talk radio show across the country and has testified before Congress on multiple occasions.

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4 Signs It’s Time to Rethink Your Enterprise Project Management System

Any business is only as good as its ability to execute its goals and objectives. One of the key components of successful execution is an effective enterprise project management system. But what happens when your current project management system isn’t cutting it? If you’re experiencing any of the following signs, it may be time to rethink your system.

4 Signs It’s Time to Rethink Your Enterprise Project Management System

1. Inefficiencies Working Cross-Department

In any large organization, it’s inevitable that departments will need to work together on projects from time to time. However, when inefficiencies start to crop up in the way that these departments communicate and collaborate, it’s a sign that something is wrong with the current project management system.

In order to avoid these problems, it’s crucial to have a system in place that is designed for cross-departmental collaboration. An effective system will make it easy for team members to stay informed about the latest developments on a project, share files and documents, and coordinate their efforts.

2. Downtime

With the increase in data processing and storage needs, the proliferation of new devices and platforms, and the rise of cloud-based applications, enterprises are finding that their project management systems are struggling to keep up. This is leading to increased downtime, which can have a serious impact on productivity and profitability.

When businesses are faced with these challenges, it’s time to rethink their management systems. By switching to a system that is designed for the modern business landscape, enterprises can avoid the costly delays and disruptions that can occur when critical information is scattered across different departments or disparate systems.

3. Multiple Delivery Methodologies

There are a number of reasons why multiple delivery methodologies have become more prevalent in recent years. First, the nature of work has changed. Projects are now more likely to be distributed across multiple locations and involve a greater degree of collaboration. Second, the pace of change has increased. Projects need to be completed faster and there is less time for planning and reporting the traditional way.

The result of all this is that executives and project managers are under increasing pressure to deliver results. One way to meet this challenge is to adopt a system that can support multiple delivery methodologies.

4. Siloed Teams

In today’s business landscape, the old model of siloed teams with little to no cross-functionality is no longer viable. With the rapid pace of change and the ever-increasing complexity of projects, businesses need a more holistic, collaborative approach to keep up with the competition.

By breaking down silos and encouraging cross-functional collaboration, businesses can tap into the collective knowledge and expertise of their employees. This will lead to improved project execution, increased problem-solving abilities, and overall better business results.

It can be difficult to know when it’s time to switch project management systems, but if you’re experiencing any of the four signs above, you need to make a change. Contact us today at Project Genetics to learn more about our project implementation solutions and how we can help your business make the switch to a better system that will save you time and money in the long run.

Corporate CPR Episode 46: How Changing Customer Interactions Can Increase Revenue

On today’s show, we discuss how changing customer interactions can increase revenue.

National design firm Mancini Duffy – with a 100+-year-old history and tech-forward approach – is a full-service design firm specializing in architecture, planning, and interior design. Headquartered in New York City with regional offices in Millburn and Red Bank, New Jersey, the practice complements its century of expertise with contemporary entrepreneurial spirit and technological skill for clients in the commercial, education, financial and professional services, retail, healthcare, multi-family residential, restoration, institutional, religious, sports, tech and media sectors.

Jeff Anderson is an Associate and Design Lab Developer at Mancini Duffy. At Mancini, he conducts design research and develops architectural visualization tools. Jeff’s also an educator, architectural designer, and AR/VR software developer. He currently teaches in the Graduate Architecture & Urban Design program at Pratt Institute and the Graduate Architecture Program at the University of Pennsylvania.

Jeff is a Co-Founder and Chief Technology Officer of The Toolbelt. A patent-pending software that allows Mancini’s clients to explore and manipulate 3D models in Virtual Reality to visualize and make design modifications for their projects together in real-time. Utilizing The Toolbelt, Mancini’s designers can do in 3 hours what it takes most 3 weeks to do.

He holds a Master of Architecture II from Princeton University, and both a Master of Architecture and a Bachelor of Science in Architecture with Honors and Distinction from the Knowlton School of Architecture at Ohio State University.

Michael Kipfer is a Principal at Mancini, where he spearheads research and development efforts at Mancini. A co-founder of Mancini’s research and development arm, the Design Lab, Michael pushes the boundaries within architecture and design. The Design Lab was born by exploring and adapting technology such as artificial intelligence, augmented and virtual reality, 3D printing, and drones to communicate seamlessly between the client and the architect. The space is where the incubation of ideas merge with technology to develop cutting-edge services and encourage dynamic collaboration with clients. 

In addition, Kipfer works with in-house software developers and designers to integrate technology into the firm’s everyday operations using Mancini’s unique 360 Design Process and patent-pending The Toolbelt software. 

Kipfer received his Bachelor of Arts in Architecture from the University of Kentucky and Master in Architecture from the University of Pennsylvania.

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Corporate CPR Episode 45: How to Effectively Manage Global Teams

On today’s show, we discuss how to effectively manage global teams.

Dr. Rajesh Kumar is a consultant and a retired business academic specializing in global business. He has an undergraduate and a Master’s Degree in Economics from the University of Delhi, an MBA from Rutgers University, and a Ph.D. in International Business from the Stern School of Business at New York University. He is also a Certified Global Dexterity Trainer.

Originally from India, Dr. Kumar has lived and worked in the United States, France, Finland, Netherlands, New Zealand, Denmark, and the United Kingdom. He has taught at Penn State, Ohio State, Babson College, and Menlo College in the United States, the University of Nottingham in the U.K., and the University of Aarhus in Denmark, among others.

Dr. Kumar specializes in the art of doing business across cultural boundaries. As companies go global they must deal with suppliers, customers, and even employees coming from different cultural backgrounds. This impacts all facets of business operations ranging from how you negotiate business deals to how you motivate employees and manage them.

Dr. Kumar has led training programs for global companies on Doing Business in India, Negotiating Cross-Culturally, and Managing Strategic Partnerships. Global Strategic Advisory, of which Dr. Kumar is the principal, offers training programs to companies seeking to enhance their global presence. Dr. Kumar is also part of the Partner-Alliances Collective, a group of professionals involved in managing alliances.

Dr. Kumar has a passion for reading, spirituality, and wine tasting. His global experience adds to his vast knowledge, in which he has many fascinating stories to tell.

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How to Identify the Weak Spots in Your Project Workflow

Do your projects get bogged down by constant revisions? Do your teams regularly fail to meet project deadlines or beg for extensions? Do projects go over budget more often than you’d like? If you answered yes to any of those questions, it might be time to reevaluate your project workflow. How can you find the thorns in your project’s side? Consider some of the common areas where problems arise and how PMO methodology implementation can solve your problems.

How to Identify the Weak Spots in Your Project Workflow

Where Do Delays Occur Without PMO Methodology?

It’s vital to track your projects: you should know whose court the ball is in at all times. Since projects involve multiple departments, it’s possible that one department, in particular, is causing most of your problems. Track your projects and pay attention to delays. Log those delays by recording when a deliverable was due, whose responsibility it was, and which department failed to meet its deadline. It won’t take you long to spot patterns.

Once you have a clear idea of where delays are coming from, zero in on the department that’s lagging the most. Talk to project leaders in that department to analyze the situation. A common problem with projects is that employees have other responsibilities, so they may not have enough time to prioritize the project. Alternately, there could be communication issues. Perhaps the project’s urgency wasn’t clearly explained. You won’t know until you find out who to ask!

Focus on Back and Forth

Ideally, projects should follow a set path from one department to the next. If you’ve mapped this out in advance, then you already have a measuring stick to use. Compare your ideal workflow with what’s actually happening in the company. Does your project take unexpected detours to other departments that weren’t in the original scope? Does it ping pong back and forth between two departments more than anticipated? Every time your project changes hands, it slows down the entire project.

You have to plan these exchanges in advance and take note of any deviations. Perhaps one department is being too strict and insisting on unnecessary revisions. You can minimize back and forth with a PMO approach. Having a single project management office facilitates communication between different departments and speeds up project transfers. Instead of one department passively receiving instructions from another, you can actively assign tasks across departments by using the PMO as a middleman.

Individual Vs. Group Responsibilities

Another way to examine your project hiccups is to examine whether you’re dealing with individual issues or group failures. On smaller project teams, individuals bear more responsibility for making progress. You can dissect a project’s advancement down to the individual level and see which employees are struggling to move the project forward. They might just not be very interested in the project. Perhaps they’re overwhelmed with other work. Maybe they lack confidence in their skills to move the project along.

When a group of people within a department is in charge, communication breakdowns tend to be the cause of your problems. Internal power struggles can also pose a threat to your projects. Sometimes, it’s best to bring in external help. Reach out to Project Genetics if you need a PMO to step in and get your projects back on track.

Corporate CPR Episode 44: Why Adopting AI is Critical to Your Company’s Future with Guillaume Herve

On today’s show, we discuss why adopting AI is critical to the future of your company.

Guillaume Herve, co-founder and CEO of Zetane Systems, is a serial corporate entrepreneur who brings 25 years of leadership experience from technology-driven industries, including aerospace, healthcare, defense and modeling and simulation. He was President and CEO of Presagis, Founder and CEO of CAE Healthcare, held various senior leadership roles at CAE Inc., is a highly sought-after consultant in strategic planning and innovation, and successfully published Winning at Intrapreneurship. Guillaume has also been very active mentoring founders of technology start-ups at FounderFuel, Techstars, Concordia District 3, and CTS Health and is Chairman of the Board of CTS Health and CMLabs.

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How Project Consulting Can Bridge the Gap Between Different Departments

The act of planning and executing projects is itself a skill. However, many managers fail to see the utility of having a designated project leadership team or project management office. Without any central authority for projects, departments often end up competing against one another, prioritizing their interests over the project’s greater goals. This can lead to dysfunctional project teams that fail to finish their projects. Project consulting can solve these problems and set you up for future project success.

How Project Consulting Can Bridge the Gap Between Different Departments

Filling the PMO Void

Businesses are gradually starting to see the need for designated project staff. The Chief Project Officer role exists now, something that was unthinkable a few years ago. In fact, some experts predict that the CPO will become more important than the COO as companies shift their focus to projects over regular operations. We’re already seeing this trend develop as more companies have put project management offices (PMOs) into place. Some are department-only PMOs, while others are enterprise-wide.

However, even when a company does have a PMO, they tend to be inexperienced. The number of PMOs has risen considerably since 2017, which means that most of them have fewer than 5 years of experience managing projects. If your PMO is failing to move projects forward, or you have yet to implement a PMO in your company, consulting can help you fill that void in the meantime. We can even teach you how to best build a PMO.

A Neutral Perspective

One of the reasons departments fail to work well together on projects is that each department has its own interests. When the IT department needs to work with finance, each side is likely to value their own priorities over those of the other. IT wants better infrastructure and more features, while finance wants to keep the costs as low as possible. Each side has valid arguments, and without a neutral arbiter, decisions and compromises are hard to make.

A project consultant is more likely to be listened to by both sides since they have no vested interest in either department. By listening neutrally to what both sides have to say, a consultant can find a healthy middle ground and look for ways to compromise. This ultimately leaves both departments more satisfied with the final decision and encourages better interactions going forward. Just like courts rely on neutral judges, your projects should have a neutral person in charge.

Fewer Conflicts, More Collaboration

No workplace is completely free of internal power struggles. Personal conflicts between workers in the same department or even heads of different departments vying for positions in the company can destroy projects. An outsider can spot these tensions quickly and resolve them. A consultant can also tear down the barriers that silo teams and limit communication. In the end, your teams will collaborate instead of competing.

To get a project consultant for your company’s endeavors, contact Project Genetics. Our experts in project management can help you meet your deadlines and pave the way for smoother projects in the future.