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Why zero-based budgeting makes sense again | McKinsey & Company

Why zero-based budgeting makes sense again | McKinsey & Company | The MarTech Digest | Scoop.it
ZBB is designed to scrutinize every dollar. In a low-growth environment, it’s easy to see why keeping costs down would be especially attractive. But the fundamentals of P’s & L’s have largely been ever thus, and today’s ZBB renaissance comes from more than just typical margin forces at work. In fact, the current climate of disruption is unique because it has brought a heightened scrutiny about which business models make the most sense (even when that means a dramatic shift from the company’s traditional focus) and how resources should be allocated to best effect. Decisions must be made faster, results are expected more rapidly, and performance details are laid bare to a broader audience than ever before.

Leaders should turn human biases into a force for positive change: present ZBB not as a loss but as a gain; make ZBB the path of least resistance; and tap the power of transparency. Add to that, as well, the very human preference for order above chaos—now addressable through powerful, intuitive digital tools that simplify, expedite, and put everyone on the same budgetary page—and the likelihood for success is even greater.

But to really drive the changes home, organizations must build a cost culture—which means, in turn, that additional measures are critical.  A crucial step is to align compensation with ZBB conviction. We’ve found that rewarding high-performing business leaders—with both hard and soft incentives aligned to controllable performance elements—is essential. 
CYDigital's insight:

Why zero-based budgeting makes sense again | McKinsey & Company

 

It always makes sense, especially considering the impact from dynamic marketing technology changes.

 

This news comes to you compliments of marketingIO.com. #MarTech #DigitalMarketing

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Five Fifty: Better Decision-Making | McKinsey & Company

Five Fifty: Better Decision-Making | McKinsey & Company | The MarTech Digest | Scoop.it
The path to better decision-making means untangling the crossed web of accountability [em dash] one decision at a time.
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Five Fifty: Better Decision-Making | McKinsey & Company

 

Click/tap to view the original article.

This news comes to you compliments of marketingIO.com. #MarTech #DigitalMarketing

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What jobs? Technological forces will fundamentally change work and the economic landscape - Pew

What jobs? Technological forces will fundamentally change work and the economic landscape - Pew | The MarTech Digest | Scoop.it
A noteworthy share of these respondents focused on the enormous systemic and structural realities that confront those trying to plan for the future of work and workers. Many of the least hopeful in this expert canvassing look into the future and see a world where most of the work is done by robots and automated processes, as humans are replaced by algorithm-driven work solutions. Some of these people dismiss the idea that any kind of training ecosystem is likely to matter in a world where they believe fewer and fewer people will work.

The global business leaders of the highest-performing companies of the digital age run lean operations that require few employees. Apple, Alphabet (Google and its subsidiaries’ parent company), Facebook and other 21st‑century tech business behemoths earn hundreds of billions running fairly autonomous technology operations with such small staffs that they are regularly mentioned in any discussion about a future with fewer jobs.


At a time when the median income in America is not advancing, the competitive instincts of those in leadership positions are seen by some of these experts as a threat to the general public’s overall economic, political and social welfare. A share of participants in this study predict that human employment could diminish rapidly as efficiencies offered by emerging technologies cause these leaders to automate nearly everything in order to optimize outcomes.
CYDigital's insight:

Enter "living wage" and the means by which the few will manage the many.

 

Visualize your Marketing Stack. marketingIO will analyze your marketing technology and deliver a visual of your MarTech Stack. Free. Go here: http://go.marketingio.com/stack_analysis 

 

#MarTech #DigitalMarketing

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Lean Startup Methodology [infographic] – Innovation Excellence

Lean Startup Methodology [infographic] – Innovation Excellence | The MarTech Digest | Scoop.it
CYDigital's insight:

Visualize your Marketing Stack. marketingIO will analyze your marketing technology and deliver a visual of your MarTech Stack. Free. Go here: http://go.marketingio.com/stack_analysis 

 

#MarTech #DigitalMarketing

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Comparably lets you better understand industry-wide salaries - VentureBeat

Comparably lets you better understand industry-wide salaries - VentureBeat | The MarTech Digest | Scoop.it
Comparably has launched a new product aimed to give company leaders a market-wide idea about where compensation is going. With this latest offering, chief executives, management, and those in human resources can access Comparably’s full set of salary and equity data for free. Additionally, companies can claim their pages on Comparably to customize and receive analytics about how they’re viewed by employees.

Launched in March by Docstoc cofounder Jason Nazar, former Docstoc chief operating officer Mike Sheridan, Yammer cofounder George Ishii, and InvestedIn cofounder Yadid Ramot, Comparably aims to make work better. Nazar said the first way it’s going about that is to “provide transparency around compensation and culture.” While it started out by soliciting employees to anonymously submit their salaries and help them understand their equity, now it’s branching out to provide aggregate information to the business owners, shining a light on the real market value of their team and how both sides can move forward together.
CYDigital's insight:

Not just for CEOs...

 

NEW: Experience Remarkable Planning Accuracy With New, FREE Growth Hacking Tool. Go here: http://goo.gl/UjcA8x   

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How to Find, Hire and Train for Digital Roles - NeoMam

How to Find, Hire and Train for Digital Roles - NeoMam | The MarTech Digest | Scoop.it
  • Get the right people in the right seats. Before making any moves towards hiring, make sure to review your organisation’s structure by creating an accountability chart with clear areas of responsibility for each role. There can be one person sitting in more than one seat but you can’t have two people occupying the same seat.
  • Hire slow, fire fast. Spend enough time during the hiring process to ensure the person you’re bringing into your team fits your culture, gets the role, wants the opportunity and has the capacity to fulfill the function. When you spot an employee who isn’t a good fit, don’t delay letting him/her go as their presence will have a negative impact on everyone else in the organisation.
  • Delegate to elevate. Think of delegation as the ultimate development tool for your people.
  • Design a hiring process that gives candidates a clear understanding of the role and what’s expected from them. Prepare a screening test to avoid wasting time interviewing people who are not a good match.
  • Organise the new hire’s first week and have a clear plan for the first 90 days on the job. Workshops, meetings, team activities and daily check-ins are crucial to keep your new team member engaged and excited about their new job.
CYDigital's insight:

CT for details.

 

marketingIO: One Source for All Marketing Technology Challenges. See our solutions.  

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New unicorns will rise from the ashes of 2016’s funding downturn - VentureBeat

New unicorns will rise from the ashes of 2016’s funding downturn - VentureBeat | The MarTech Digest | Scoop.it
ust as the public market slide for tech stocks triggered a tightening in the funding environment for existing startups and helped subject some high-flying companies to markdown valuations – CloudFlare, Taboola and Twilio, for starters, there’s also been a negative trickle-down effect on the youngest of companies. The torrent of venture money seemingly available to nascent, early stage companies may be slowing to, well, a trickle.

Despite the obvious pain for the affected companies, this resetting of the VC-entrepreneur ecosystem could be a good thing. Over the past couple months, several venture investors with whom I spoke saw evidence of a silver lining.

“Some of the best companies get started during difficult years in our economy,” said Aileen Lee, founder and partner at Cowboy Ventures. “Later this year, or in 2017, will be a really good time to start a company.”

 

marketingIO: One Source for All Marketing Technology Challenges. See our solutions.  

CYDigital's insight:

CT for details. It's about the blocking and tackling...always.

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