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Though useful and rare assets may help companies to get plans that other firms cannot copy. Since the other companies lack valuable assets, that is no promise of a long-term market edge. This may offer the big company an early entry edge, but rivals will try to copy these assets.
Another factor that assets must meet is, hence, that they need to be hard and costly to copy or replace. As per the resource-based view, assets can be poorly copied due to a combination of three reasons:
Past Conditions. - Choices made in the past affect a company's present and future chances. A firm that has placed its plants in a far more valuable place than expected. This has a flawed asset.
Causal Doubt - Causal nuance occurs when the main firm's assets are connected. A healthy market edge is not known. Rivals will not be able to copy the focused company. Because they don't know what assets to mimic.
Social Complexity - If the vital asset of a firm is of business and personal value. Then it isn't easy for rivals to copy. This is because the resource has many features.
The assets itself do not create an edge for a company if the company is not structured. To develop sufficient use of such assets and to get the value from them.
The main company needs the skill to collect and arrange assets better. Without the right company to buy and use the assets they have. It won't be easy for a business with a rare and valuable asset. It will not be able to create a steady market edge. It is safe for a company to think it has a market edge when all four attributes are present.
Each cycle has many chances to boost teamwork and objectives. The following points are helpful:
During the cycle, goals and key results are not altered. It is done if the company faces an unexpected issue to which it must respond. This is rare; It is checked, and recaps show potential for improvement for the next cycle. A stable rollout of a firm's OKR model requires time. It takes 3-4 cycles to get OKR's full push.
A practical, well-designed roll out plan will reduce learning. Steps like in-house training, OKR Coaches training, expert training helps increase the quality and speed of learning.
It is worth noting: To remain humble and open to making errors and studying new skills.
Is OKR's right for you?
If you are CEO or leadership, using the OKR's system is a proven way to improve worker's links with goals. It checks results, gives the team ample inputs, and delivers results. Creating OKR's tell leaders on what to focus during a given period.
Review OKRs if required. Be agile, if your company, team, or goals change, feel free to change the OKRs. When set up and used daily, OKRs seem to be simple to use and would not take time to implement. It requires only a few hours each quarter to verify and review your OKRs. Although you should verify them more frequently to keep up with growth and track the gains made every week.
The major impact of using OKR in most companies with no goal management already in place. Those that focus solely on metrics and KPIs is a cultural shift from output to output. OKR creates focus, openness, and placement for all jobs within a company. These three factors merge and lead to higher employee involvement.
Agility - Smaller goal cycles allow changes and faster move to change. It is growing ideas and decreasing threats and loss.
Alignment and cross-functional cooperation - The use of mutual OKR's improves teamwork among various teams.
Shortened time to set objectives - OKR's ease makes the whole process of goal setting faster and easier. It reduces the time and effort spent on goal setting.
Clear engagement - Openness and clarity make it easier for teams to know the company's goals. It shows how each worker can help.
Make workers involved - OKR's two-way goal setting plan connects workers with company goals.
Design of OKR's
OKR design is very simple:
Objectives - Start by setting three-five primary company goals. Goals should be positive, measurable, time-bound, and to be done by the team. A goal will inspire and challenge the team
Results - Define three-five conclusive results under each goal. The main results must be real, leading to objective scoring and tough but not difficult. Results of OKR can be based on progress, success, or loyalty. They mostly are numeric, but they can also show if something is done or undone, so a binary 0 or 1.
How to bring OKRs to use?
Communicate your goals and Key outcomes to all once defined. If required, mix the text so everyone can have a standard view. When people start the job, they update weekly outcome metrics. A goal is considered done when 70-75% of its outcomes have been met. If 100% of targets are achieved, it might not be ambitious enough.
Review OKRs as required. Become flexible. If your company, team, or goals change, then change the OKR's. No method must be larger than common sense and daily business.
History of OKR
OKR has a rich history which can be traced to 1954 when Peter Drucker created MBO or Objective Management. In 1968, Andy Grove co-founded Intel and, as CEO, improved MBO into an OKR model that is being used today. In 1974, John Doerr, who is one of the most successful venture capitalists, joined Intel and invested in companies like Google and Amazon.
Doerr, who introduced Google to OKR, has a goal-setting formula: “ I will ________ as measured by ____________." which is still in use.
How to prepare for OKR
Before you start using OKR, it is crucial to have a clear idea of the task that needs to be solved. For most companies, OKR solves the task of deploying a business plan in a manner that is clear to all staff, clear and achievable. To succeed, a worker should be in the company to deliver and run OKR. This person is called "Envoy," and the role is to see that everyone who uses OKR is trained involved and has continuous help and support. OKR is a system, but it is also a learning process that often requires a step-change in how thinks and measure their work.
The layout of an OKR tool is split into 4 points based on strategy and delivery.
How OKR bridges the strategy execution gap
1.) Mission & Vision
2.) Company OKRs (1 year)
3.) Group OKRs (1 quarter)
First two are strategy (mission & vision and company OKRs)
Last two are execution (group OKRs and Initiatives)
Middle two are OKR (company OKRs and group OKRs)
The last one is Agile, GTD, etc.
OKR's stands for Objectives and Key Results. It is a famous goal managing tool that helps companies deploy strategy. OKRs help to connect the company, team, and goals to real results. This is while all team leaders and members operate in one direction. An OKR comprised of a Goal that identifies an objective to be done. And up to five Vital Results that make progress towards the goal.
Each OKR may also have efforts that define the job needed to run the Vital Results forward. The model includes a range of rules that help workers plan, coordinate, focus, and measure the result of their work. OKR helps firms convey company plan to workers in a visible manner. These assist companies shift from output to a result-based approach to work.
What is the objective/ goals?
The objective is a summary of the goal to be attained in the future. The objective sets out a clear plan and gives motivation. A goal can be thought seen as a location on a map.
What a Vital Result?
A Vital result is a metric value and target price, which test success to the objective. A vital result is like a distance symbol that tells how near you are to your goal.
What is an Initiative?
An Initiative is a summary of the job you are trying to do to impact the Key Result. If a goal is your target and the vital result shows the length to go. The Initiative defines what you will be trying to do to get there.
Hoshin Kanri is a strategic planning tool based on Japanese culture. It was created in the 60s and 70s. It is used to help companies to manage their strategic plan to achieve success. It is a seven-step method used as part of a tactical plan which speaks about objectives. It is shared across the company, and then put it into action.
The method aims to improve links across the company. And at the same time to reduce waste produced by weak direction or poor management at any level. Companies that use the model follow a path of thought, making plans, applying, and reviewing.
The Gemba process ( is another element of the tool ) could well indicate spending moment with your sales staff or your software design team. And to work closely with your customer service team. But they should describe it as it relates to your company. And define what the leaders and the front-line workers will understand. The model wants all of us to know how Gemba operates in your company. It is critical for the model to fit your company.
You would have found a range of replies if you studied how to execute the plan in your company. But there are four crucial moves at the core of it; this will start your planning:
Find your primary goals - The first key step to proper planning is to satisfy your executive team. And the managers required to create the strategic plan. The company does not need to begin the Hoshin plan if the company already has a plan in place. The company can carry what they are doing and later adapt to the Hoshin model.
Play catchball - One thing that separates Hoshin from other tools is catchball. This word is used to define the idea of putting ideas back and forth for the sake of balance. In other words, your top management can set its company's three-to-five-year key goals. Then they will chat with the lesser-level managers about the objectives, who will talk to their teams about it. This feedback method helps you have a buy-in through your company.
Have your Gemba on - Gemba is another element of the tool. Gemba means getting out on the shop floor and recording the goals and reforms. The idea is to stay connected to your Hoshin plan unity. Managers should review how ground-floor ideas are blended. And catchball to gather with in-process feedback.
If you do not have a shop floor, when you are thinking about the Gemba process, find what that means for your management team to be there on front lines.
Make the adjustments you need - All three prior moves deal with a certain extent with collecting feedback. What good is input if it is not used? This key step means you do and make adjustments to keep track of your short-term, long-term reforms.
The concept is that goals cannot be achieved if they are created at the highest levels and pushed down to lower departments. Hoshin tends to favor talks and goal-honor from top to middle to bottom, then back up. To be useful, you must line up the following three levels in the company:
The Strategic Level - This includes the company's view, purpose, and yearly goals. They are built or conveyed at the highest employee levels.
The Mid-Level and the strategy Levels - The company's goals must be linked at this level to ensure that each project affirms and pushes each goal.
The Worker Level - This is the internal level when everyone in a company adds value in some way. In this level, the creation and delivery of employee plans should be linked with company goals. Staff involved in Hoshin Kanri feel far more involved in the success of the company's goals.
The concept is that every employee should work towards the highest goals set by the company. Employees get input that needs to be included in the objectives. And, as a result, workers feel a sense of ownership. This two-way sharing of information is crucial. Passing input back and forth, the management string produces an input cycle.
Hoshin Kanri, in its purest sense, means detailing goals. And trying to seek and execute input from every level of your company in a loop. Any company with loyal staff can try to use the method. Hoshin's difference is that it says breakthrough goals are to be captured, shared, and approved by all in the company. After that step, list the person, departments, and sub-goals that link with larger goals. The goals can be reviewed weekly, monthly, and yearly.
To adopt Hoshin Kanri at your company, follow the seven steps. Make sure that the catch ball process is open and regular that everyone accepts the goals.
1.) A key Lean management tool to make sure a company's plan is deployed across the structure.
2.) An essential part of the model is continued growth via tools like PDCA and Catchball.
3.) When applied, the model pushes leaders to show up with a vision and a set of breakthrough goals. It provides a flurry of goals, making sure it is aligned and give the needed power for proper deployment.
4.) Kanban base can assist with both the model planning and the actual deployment of the goals.
5.) The model must adapt to today's dynamic world by shortening contact cycles and creating a much more smooth way to share details.
1. Find the KPI's and direction for the top management. The view must motivate change, not a mandate that comes from the highest level.
2. Detail the breakthrough goals. Existing and new customers should have no more than five goals. These goals, also called stretch goals, lead to organization-wide growth.
3. Set the timetable for reaching these goals. Thinking about the future is good: Where do we have to be in a year to be at the desired position in five to seven years?
4. Start and continue the catch ball process, from top to bottom, and back again. This is to get input, refinement, and buy-in from the whole company.
5. Create review cycles to test the potency of your tactics among people who are close to customers. They can be daily, weekly, yearly cycle. To track your month-to-month progress, deem using a bowling chart. Hoshin Kanri bowling chart model to keep a record of the progress of multiple efforts and projects, the months ahead, the slower. etc.
6. Take measures when the test shows the company, team, or project has missed a goal or KPI and take action to get back on track.
7. Take part in-depth, a yearly review of objectives to decide the changes you have to create for the coming year. Getting input from all is vital to the company's growth and progress.
If you like to try to apply the model in the company, use the bowling chart to catch at a higher level. The model also makes you dive into tasks and delivery.
1. Comparison is bad for Studies:
The biggest de-motivation of your study is comparisons. Please don’t do it. You and I have a different pace to study, to grasp and learn subjects and topics. When it comes to studying, always keep up and compete with yourself. Follow the idea of spending time every day strictly for your studies. Do better than yesterday. Instead, don’t compare and go hard on yourself when it comes to studies, thesis writings or grades.
2. Audio Methods for your Studies:
Record the important concepts, the core concepts, theories, interpretations from case-studies & prior research findings, etc. Do it in your smartphones or a recording device meant for study.
Do it as if you are talking and discussing with yourself about the studies. It’s a good way instead of carrying textbooks to study.
- You have good educational videos, concept-explanations, demo videos, etc.
- Go outside textbooks and libraries. There are lots of interesting ways to learn concepts.
- Download and listen to interesting podcasts, and lectures or audio files related to your studies.
Using Audio methods to listen to on the go, or while relaxing can help you study better. It is a fun way to learn. Furthermore, it’s a good way to motivate yourself to study.
3. Sometimes you have to force yourself to Study:
It’s true. Not every time a motivation works. Sometimes, we all get caught up with unexpected things that could take us astray from studies. At times, whatever you do you may feel like nothing works. Studying can make you feel like stepping out of your comfort zone. You cannot do this forever. You have to start your studies somewhere. During that time, you have to force yourself to at least take your book out and just go through or flip pages.
1. Allocate a Study-Time every day:
Spend study time every day. Allocate some time; say for at least a solid one hour every day.
Even if you don’t feel like studying, you can do other activities related to studies at that time.
- You can simply go through the chapters and contents you have to study.
- You can prepare priority lists of what to study.
- Or, you can simply read the headings, sub-headings or skim-read the pages.
- Go through case-studies.
- Gather necessary research hints, ideas or points needed for your studies.
- Browse online for relevant study resources other than what you have.
Do any related activities like this if you don’t feel like studying. The idea here is to spend time every day for your studies. Gradually, you will get in the line of studying every day. Make it a practice. Motivating self-rule for you to study is ‘If you don’t feel like studying, spend it in doing things related to your study’.
2. A comfortable Study Space:
Cluttered unclean study space is a big No. Some people argue about ‘if you want to study you can study anywhere’. Well, not exactly all the time. A comfortable space brings a good vibe and concentration to you. Whereas, if the place around is mixed-up or unclean, you will be more concentrated in looking around at it instead of focusing.
3. Will to Study:
Nothing works if you don’t have the will to study. Your determination is what motivates you truly to study. Other things don’t work if you don’t have the interest to study. Life takes us all through different stages. Education and studies are one such important stage for you right now. Just, give your best and that’s enough. Bring the will to study.
Choose your Preferred Study techniques:
Follow Easy and effective Study techniques. They are good motivators for you to study. A repetitive way of studying could bore you easily and lose concentration. Instead, if you follow interesting study techniques you will be encouraged now and the next time too.
Good Study techniques would be:
- Drawing flow charts to understand the concept flow in the subject.
- Taking hints.
- Using mnemonics.
- Picking one thing first to focus and study instead of gathering everything.
- Using acronyms.
- Mind mapping.
- Using sticky notes. Write core concepts, formulas, principles, etc. and stick them wherever you need. The next time, just by looking at the sticky note you should understand what they have explained on that page or the whole chapter easily.
- Taking notes your way.
- Refer to good case studies, live examples, previous research works. It helps you visualize and understand the topics, concepts, and theories.
- Doing Q&A sessions.
- Read aloud. By simply reading to yourself, you can feel drowsy at times.
- Use pictorial/diagram representations your way to understanding the theory.
- Take a break if you feel lazy, drowsy or feel like stopping. You will lose focus if you continue. It’s okay to take a quick break now and then.
- Listen to some music.
Pick the study technique that is easy for you. It persuades you to study.
1. Good Study means Good understanding:
If you don’t like to understand your studies, there’s no good use in motivating yourself here. Bring the mindset of wanting to understand what’s going on. Instead, don’t study to complete the studying work. If you set out to understand your studies, your mind works that way. It helps you. The brain makes you look for different ways to understand.
Instead, if you are in a hurry to finish your studying, your mind only works to finish the task and not fulfill any value. Learning is a step by step process. Do it that way. Take steps in understanding instead of finishing.
2. Have a Healthy Snack:
It’s really funny that every time we sit to study we feel hungry at some point. I use to take this as a chance to escape from the studies. But I have wasted considerable time on it. Instead, I started having healthy snacks and a water bottle near me before I sit to study. This is a technique to keep yourself focused on your studies. Try to avoid creating chances to get up and go out while studying.
3. Study in Group:
Group discussions and group studies with friends can easily motivate and encourage you. Studying and discussing with one another will help you remember, revise and learn the concepts easily. It can go sideways too if you all start to lose focus and end up playing games or talking. Make sure, you all do the study first and later have your time.
Turns out that, taking notes and writing down essential concepts helps you study easier and understand better. When you start studying, always take notes. I use to take notes on the go. But I have seen people who study first. And again, they study it for the second time. It’s more like a read and re-read they do. Once done, they write notes of what they understood and what they felt important.
There’s a friend who used to have separate word documents on the laptop for each concept with bullet points of important notes. It helps to revise as well as study in detail. You can pick any method you prefer. Finally, only with notes, you can easily understand. You can take it anywhere you go. You can even stick them to your study table. Taking notes is an easy way to motivate yourself to study even a complex concept in your subjects.
Draw your concepts and topics:
The main goal here is to motivate yourself to study as well as make it stay in your brains. If the subjects and concepts seem tough and hard to grasp, you will feel demotivated. The better way to study it is to draw it.
- Draw your concepts in your way to remember easily.
- Use pictorial representation as many as you can to easily recall your subject visually.
Diagramatic representations are the best ways to understand the core concept easily.
Have Priorities & Don’t Multitask your Studies:
When it comes to studying, have priorities and not multitasks. When you multitask, especially with your studies, you tend to lose focus easily. You get confused about what to choose right now and what can wait. Prioritize your study. Make an agenda and see what to study first.
How to prioritize your Studies?
1. Break your studies into a list. The numbered list will give an idea about what are all the things you have to complete. It helps you focus.
2. See what tasks are urgent or have short deadlines. Take your assignments or reports for example. They will have a deadline. You should give priority first here. Studying for it could be important right now.
3. If you have any large projects, like for instance: Take Thesis Writing. it will take more time and a lot of study hours.
1.) Break them down into subparts.
2.) Number them based on what to take care of first or what to write first.
3.) Divide them based on ‘finding resources’ for it. Resources could be books, old references, previous thesis, sample research works, lectures, etc. By listing them down, you can prioritize as well as see what you need first to start studying. I find this tip useful because by listing my needed resources I know what to do first. I start by collecting previous research papers first for my studies and writing.
4. Always, prioritize your studies based on ‘Time it Takes’, ‘Difficulty Level’ and ‘Duration you will need’.
Depending upon your studies or subjects you can make your priorities. You can identify what to do first and where to being regarding your study. Having a little priority list motivates you to study.
1. Gather the necessary things before you sit to study:
Don’t get up now and then to go pick your notebooks, or books or stationery supplies. When distracting yourself from little things, you will lose undivided attention to your studies. Before you sit to study, gather all the necessary things you want. Have a bottle of water nearby.
2. Go for a quick walk and start:
If you feel bored or unfocused to study, stop it for a while. Don’t start to study. You won’t be able to grasp anything. It happens every time for everyone. Get up and go for a walk. Not necessarily a walk in the park or a long one. Just walk. You can go grab a snack or you can walk out and just stand in the fresh air. Not just that, you can do it in the middle of your studies too. Take a quick break. Go for a small walk; take a pause and return to resume the study.
3. Always have a notebook with you:
Before you study, bring a notebook with you. Sometimes the concepts can be understood easily via writing it, or drawing it or visualizing it in any way in a notebook.
4. Divide your study topic into chunks:
Instead of taking it as a whole, divide the study in too little chunks. For instance, break it like ‘completing three chapters’ a day. Make it a wonderful practice that, every time you step out you feel confident about achieving your little study-goals like this. It motivates you and encourages you to do it again. For a fun twist, reward yourself for it. Surf the internet or check the notifications quickly. Play a few minutes of the game. Reward yourself with your favorite food too if you like.
1. Do a Digital Cleaning before Study:
Before you prepare yourself to study, do a digital cleaning. It’s a must.
How can you do it?
1. Stay away from social media notifications for a while. We all know how the thought of ‘I’ll just check my notifications quickly’ will take us.
2. Next, if you have your gaming gadgets around, now is the right time to hide them from the sight.
3. Give a short break to your smartphones, and tabs.
4. Unless you have the need, set your laptop aside for some time.
Don’t take it as strict restrictions. You need to set the stage right so that you perform without hassle. You can’t keep track of time on the internet. Gadgets and the Internet are serious distractions while we study.
2. Don’t study with Full-Stomach. Don’t study while starving.
After a heavy meal, the chances of becoming drowsy, and getting lazy is so high. Don’t start to study with a full stomach. Same way, with a pang of hunger, you cannot concentrate on what you are doing, particularly with studying. Have a balance.
What’s the best way here?
1. Take a light breakfast or lunch or dinner.
2. To handle any in-between hunger pangs you can have some healthy snacks.
3. Have a water bottle with you.
4. Avoid eating junk foods, processed sugars, alcohol or any beverages while studying.
5. If you need to prepare your food, then do it prior. Don’t do it once you start with your studies.
Most importantly, during your education and study period, maintaining proper health is essential. Good health is balance. Follow healthy practices right from the start.