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One of the biggest problems of online retailers is cart abandonment rate. Let’s take an example: with a cart abandonment rate of 60%, a company loses 60% of its potential customers. How much would the revenue increase if the company captured those sales, instead of losing them?
The number one obstacle to innovation is represented by unsupported culture. However, organizations that support a culture of innovation are generally value-driven, customer-focused, and implement strategies that are developed through complex interactions with customers, employees and other partners.
Moreover, they always try to identify where they stand on the market and manage what is to be done to improve their results through performance improvement methodologies such as benchmarking.
For many organizations, building a Strategy Map might be a problem. But why is it so important in the first place?
The strategy map enables us to better understand the business model, the way the organization delivers value to customers and its intent to change.
A Strategy Map provides a visual representation of the organization’s strategy. It is a powerful communication tool that enables employees to understand the company’s strategy and translate it into actions they can take, to ensure the achievement of strategic objectives.
In the past years, the buyer-supplier relationship has been skewed a bit, favouring the latter more often. There are a number of reason that have led to this shift.
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