article thumbnail

How can we Combat the Peter Principle?

Destination Innovation

There were plenty of anecdotal examples but little hard evidence to validate the principle. ’ It seems clear that the best salespeople do not make the best sales managers, the best programmers do not make the best team leaders and the best accountants do not make the best finance managers. But it leads to weaker managers.

article thumbnail

Understanding the Building Blocks of Hospitality

Business and Tech

Connecting the operational knowledge with a particular interest area — such as finance, marketing, technology, or sales — will help build a strong career. Organizations must prepare to adopt and implement such technologies to stay competitive.

Industry 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

At the digital transformation and innovation crossroads

Jeffrey Phillips

Take for example the automotive industry. Today most car companies make money selling cars (and make most profits in financing those sales) to individuals who own the car as an asset. They won't sell lots of cars to lots of families and finance those sales to individuals.

article thumbnail

Why Avatars Are A Game-Changing Innovation Strategy

PlanBox Innovation

Let’s dive into the pivotal advantages of integrating avatars into your innovation strategy, supplemented by three fun examples illustrating how avatars can be leveraged: Flattening The Hierarchical Landscape Avatars push ranks to the sidelines, spotlighting ideas instead.

article thumbnail

How to turn a Multinational Automotive-Finance Company into an Innovation Powerhouse

Qmarkets

With over 3,100 employees across 36 companies, RCI Bank and Services is a multinational finance company which is focused on delivering innovative services to customers of the Renault and Nissan automotive groups. Jean-Philippe Mathes: As we all know, the finance industry is more ripe for technological disruption than almost any other sector.

article thumbnail

Ten pitfalls inventors face and tips for avoiding them

Idea to Value

To build and maintain your market share needs appropriate measures to protect your intellectual property, as that`s what ensures your competitiveness and your business success. Many startups fail due to improper protection of their intellectual values so that they are quickly copied and outpaced by, stronger, quicker competition.

Tips 264
article thumbnail

Constructing the innovation mandate

Paul Hobcraft

Innovation is a critical source of future competitive advantage. The innovation team will consist of experts in various fields, including technology, design, marketing, and finance but will not be mutually exclusive but open, encouraging and seeking consistent engagement and alignment across the organization and beyond.