Time pacing - A new strategy in intensely competitive markets
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Transcript of Time pacing - A new strategy in intensely competitive markets
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Time pacingProf. Dr. Martin Knahl
Le Minh, PhienTran Minh, Phuoc
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Agenda
▣ What’s Time Pacing▣ Managing Transition▣ Managing Rhythms▣ Case Study - Gillette▣ Conclusion
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1.What’s Time
Pacing
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‘’ Moore's lawThe number of transistors incorporated in a chip will doubles approximately every two years
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https://en.wikipedia.org/wiki/Moore%27s_law
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Time PacingA strategy for competing in fast-changing,
unpredictable markets by scheduling change in predictable time intervals
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Event Pacing
Event pacing is about creating new product when:
▣A promising technology comes out of R&D laboratory
▣Entering a new market in response to a move by a competitor
▣Marking an acquisition
In stable market, event pacing is an opportunistic and effective way to deal with change.
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Time PacingMore creative and proactiveImportant psychological impact within corporation.
Time Pacing Vs. Event Pacing
Event PacingMore traditionalResponding to events, seasons, etcMore reactive and often erratic strategy.
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2 critical of Time Pacing
ManagingTransitions
ManagingRhythms
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2 critical of Time Pacing
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2.Managing
Transitions
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‘’In fast-paced markets, transitions are like changing the fan belt while the car is still moving
Time pacing: Competing in markets that won’t stand still
by Kathleen M. Eisenhardt and Shona L.Brown
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What is the Transitions?
Involves executing and integrating changes into the company.Common transitions:
▣A shift from one product-development project to the next
▣Advertising campaign▣Season of merchandise to the next▣Entering or leaving markets▣Absorbing new acquisitions▣Launching new alliances▣Bringing volume production on-line
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Managing Transitions
▣Particularly important in fast-changing markets
▣Often ignored▣The best transitions help managers to learn,
reflect, change direction, and accomplish other goals
▣Transition processes vary from company to company
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3.Managing Rhythms
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What is the Rhythm?
▣Rhythm helps people plan ahead and synchronize their activities
▣Without rhythm, manager tend to be reactive and to see unwelcome changes
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‘’For most companies, getting in step with the market means moving faster. But for some, finding the right rhythm means slowing down.
Time pacing: Competing in markets that won’t stand still
by Kathleen M. Eisenhardt and Shona L.Brown
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What is the Right Rhythm?
▣Time pacing should be aligned withs important rhythms of the marketplace
There are natural rhythms that can set tempo for the time pacing
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Source of Rhythm
Customer
Supplier
Complementer
Source of
Rhythm
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General management has its rhythms
▣The planning and review process altered to one more tailored to the rate of change in specific market
▣Exploit changes by having executives from other businesses within company attend the reviews and influence strategies
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Review cycles of some industries
Review cycles
Electronic components Business 6 months
Home appliances business 1-3 years
Heavy industrial Industries 18 months
Computing & Networking industries Weekly/Daily basics
Time pacing: Competing in markets that won’t stand still by Kathleen M. Eisenhardt and Shona L.Brown
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Choose a manageable pace
▣As fast as the company internal capacities
▣Time pacing requires not just setting rhythms but executing it
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Case study
Case Study
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Gillette’s Product pipeline
Volume production Product Prototype Next Product Prototype
4 years
ExcelSensor
3 years
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20 new products/year
40% of salesfrom new products
25% of cycle timeslashed down
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Conclusion
Time pacing opens strategic options. We can exploit it to:
▣Gaining ground
▣Set competitive pace
▣And keeping up
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Reference
▣ Time pacing: Competing in markets that won’t stand still by Kathleen M. Eisenhardt and Shona L.Brown
▣ http://gillette.com/en-us
▣ https://en.wikipedia.org/wiki/Moore%27s_law
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Thanks!Any questions?