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Lean vs. Agile - Why a Lean Agile Approach is Essential for Start-Ups

There are various types of project management methodologies a start-up company can use to improve their processes. One of these methodologies is the "Agile Method". The "Agile Method" is the umbrella method that includes multiple different concepts, two of these concepts being Agile and Lean. LEAN Let's start with the concept of "Lean". Lean was created long ago in the automobile industry following post war Japan. It is the foundation of the agile methodology. This concept is characterised by its focus on minimising risk and waste. In fact, there are 8 types of wastes that the Lean concept attempts to ward off (Warcholinski, 2019). 8 Types of Wastes in Lean Methodology AGILE Now that we understand Lean, we can discuss Agile. Agile is a mindset that derives from the Agile Manifesto, a plan developed by visionary software developers that contains 12 defining principles. The Agile concept is people centered and has two main goal...

'Jellies & Jaffas' - A Peer Review

In her report, the author Michelle B. Cowley-Cunningham aims to outline the SOSTAC Model, created by PR Smith, and describe how this model can be applied to start-up online businesses. In contrast, she also critiques this plan and details how it should not be applied to start-up online businesses (Cowley-Cunningham, 2016). In her report, the author uses a retro sweets and cakes start-up online business example to demonstrate the SOSTAC Model as outlined below: S - The author sees an opening in the market for selling sweet treats. However, it is essential that a Unique Selling Point (USP) is decided to set her sweet treats apart from the competition. The author settled on bite sized retro sweets and cakes to sell in a one stop shop for both dessert types (Cowley-Cunningham, 2016). O - As an objective, the author aims to satisfy market demand in order to achieve a Return on Investment (ROI). She decides to focus on brand marketing, packaging and communicati...

Consumer-Focused Enterprise - The New Universal Standard?

What is consumer-focused enterprise? Consumer-focused enterprise is a new pursuit that focuses on the consumer perspective at every level and function across an organisation (Carpenter, 2013, pg.3). Many organisations have begun to adopt this new type of enterprise and focus on the customer's outlook. This is due largely in part to two main factors: Political Reform The Digital Revolution These two factors have transformed the global economy in unprecedented ways and forced companies to adjust the manner in which they conduct their business. Political Reform Political Reform has allowed consumers to possess newfound powers in the global marketplace. In the past, the people of countries like China and India were kept down by their governments. Much needed political and economic reforms swept those countries and others by storm. This shift has led to more prosperous economic growth for these countries. As a result, consumers in these countries have gaine...

KPI's vs. Metrics - Is there a difference?

There are a fair few number of keywords repeatedly heard around the marketing world. Two of the most common keywords that often get lumped together are KPI's and Metrics. But what are KPI's and Metrics anyway? Is there a difference? KPI's are a, "...way of measuring the effectiveness of an organization and its progress towards goals" (Maxwell, 2014). In essence, organisations use KPI's to measure their business goals. Take Netflix for example, an online media streaming service. Netflix relies on a large portion of its revenue from account subscription s (Ciejka, 2018). A s a result, a potential KPI that Netflix might decide on would be an objective to grow their subscriber base. Netflix would then come up with a KPI strategy to reach this objective. A good KPI strategy will typically follow: 1. An iterative process - this is where a company will conduct a repeated cycle of function until eventually reaching their sought after business goals. 2. The...

Top 3 New Realities Affecting Web Marketing Managers

In recent years, there have been many changes in the field of marketing that have challenged marketers worldwide. Out of all these new challenges, there are 3 stand out new realities marketers need to face: Technology, Globalization, and Social Responsibility (Kotler et al., 2016) . Technology has become a powerful force today. The use of social media has become a widely popularized aspect of technology - especially in the marketing sphere. As a result, the world is more connected than ever. Globalization is another huge new phenomenon that has drastically changed the ways and places we do business. Large scale immigration and travel have played a key role in speeding up the effects of globalization. Big metropolitan cities have become melting pots of different cultures, cuisines and ideologies. Social Responsibility was a slow and steady player in the marketing circle. Not much thought was really put into ethical and environmental aspects of product development a...