uxlivinglab

  Introduction  While SWOT analysis is a great way to identify the current situation of your marketing and business strategy projects, TOWS is a variable version to create strategies. During the strategizing process, you can apply SWOT to identify your strengths, weaknesses, opportunities, and threats and then use TOWS to process your SWOT results to apply future strategies. The TOWS Matrix is a simple and effective method to develop specific strategies to consider the results of SWOT examination.  A key component of strategic marketing planning is the implementation of a TOWS analysis. This analysis helps to identify problematic areas of your business so that you can maximize your potential opportunities.  The comparison between a SWOT analysis and TOWS Matrix SWOT analysis is a technique used to inform and review potential strategic initiatives as part of the strategic planning phase of the situation analysis phase. It is an acronym that analyzes strengths, weaknes...

  Introduction For organizations that want to drive positive behavioral change, nudge theory is a practical concept that should be known. It works on the principle that small measures can have a significant impact on people's behavior. When you hear the term "nudge" in the workplace, it often comes up in conversations about how to influence workplace behavior. Nudge can help people make better decisions and bring about positive change. This article is about how we can apply this concept to our employee development programs and how to avoid pitfalls and use Nudge to make positive changes in the workplace. A literature review of Nudge Theory The concept of nudge theory was developed by the American economist Richard Thaler and the Harvard Law School professor Cass Sunstein, who popularized the concept with the publication of their book Nudge: Improving Decisions for Health, Wealth and Happiness in 2008. According to Nobel laureate economist Richard Thaler, nudging is an asp...

  Introduction Given the growing urgency to meet common challenges and Sustainable Development Goals (SDGs), social innovation plays an important catalyst in highlighting and integrating the work of locally sustainable solutions into the global economy. Social entrepreneurship, a community organization made up of social innovation approaches in the form of community organizations, shows alternative working models to address the critical challenges facing our planet, societies, and economies. Social innovation addresses some of the world's most serious challenges, ranging from inequalities in girls' education to disaster relief, which affects all of us, but especially vulnerable and marginalized groups.  What is the concept of social innovation? Social innovation can help solve some of the world's most pressing problems with new solutions like fair trade, distance learning, mobile money transfers, restorative justice, and carbon-free housing. In this article, we discuss the ...

  Introduction Big data is making great strides in self-driving car capabilities, driver safety, and improving the customer experience. Indeed, the international consultancy McKinsey & Co. predicts that big data in cars will become a $750 billion industry by 2030. This shows that big data will become the cornerstone of the driverless car of the future. Ford is leveraging big data to improve the customer experience, operational reliability, and fundamentals of autonomous vehicles. Simply put, the power of big data does not give autonomous vehicles the power to think only. Autonomous cars will make their decisions based on the data they can collect. How has big-data integration become popular in autonomous cars? The available data is a critical factor that will affect the automation and motorization of self-driving cars. The problem with the data collected in cities is that it is highly differentiated and unstructured and that big-use methods and algorithms cannot process and ana...

  Introduction Competitive pricing of your products and services on the market puts your brand in a better position to attract customers and businesses. Competitive prices work best when your business offers competition not only exceptional customer service but also generous return policies and access to exclusive loyalty benefits. Price matters, but focusing on offering your product at a lower price than your competitors does not work. The introduction of the "better than good enough" pricing can attract new businesses and improve profits.  How does pricing strategy affect a company's profitability? When a company guides or nudges its customers through various price points and areas, it may influence customers' perception of price and value through framing and anchoring techniques. A pricing strategy is the method of pricing used by a company to determine how much it sells its goods and services. Choosing the right pricing strategy requires a deep understanding of yo...

  Introduction As its name suggests, the BCG matrix, also known as the Boston Growth-Share Matrix, was developed by Boston Consulting Group and has become a popular tool for evaluating a corporate portfolio from which to make strategic investment decisions. The BCG matrix is a growth-share business planning tool that can be used to represent a proprietary brand portfolio ( SBUs) in quadrants relative to market share (horizontal axis) and the speed of market growth (vertical axis or axis). Based on this assessment, the matrix helps inform the long-term strategic planning of the current product portfolio of a company by indicating whether a product should be invested, discontinued, or developed. A deep understanding of the BCG Matrix The BCG (Boston Consulting Group) Matrix, also known as Boston Growth-Share Matrix, was developed in the 1970s by Bruce Henderson of Boston Consulting Group (BCG) to determine the desired allocation of resources, including cash. The main task in analyzin...

  Introduction  Companies strive to expand business growth in existing markets through new products and perform well in product development. A company often uses the market penetration strategy - one of the four alternative growth strategies in the Ansoff Matrix, for its products to achieve a growth strategy in existing markets.  Whereas other companies follow a strategy of competitive pricing and aggressive marketing to attain their market penetration targets, pharmaceutical firms deliver a product development strategy that focuses on new products and services promotion to serve their existing customers in the market.  What is the Ansoff Matrix? Ansoff Matrix is also known as the product and market expansion network, a strategic tool used by companies to analyze and plan their growth strategy. The matrix enables managers to summarize all available growth strategies and assess the associated risks. Ansoff Matrix, also known as Product/Market Expansion Grid, is a tool...

  Introduction  As a result of faster adoption, healthcare providers can reduce perceived risks and achieve measurable improvements in patient outcomes and operational efficiency on a large scale. In the coming years, the best opportunities for artificial intelligence in healthcare will lie in hybrid models in which doctors support diagnosis and treatment planning, identify risk factors and maintain ultimate responsibility for patient care. There are unlimited ways to deploy artificial intelligence in healthcare to make diagnoses more precise, establish links between genetic codes, power surgical robots, maximizing administrative efficiency, and understanding how patients respond to treatment plans. AI and machine learning are transforming the healthcare system From chronic diseases and cancer to radiology and risk assessment, there are countless ways to leverage technology to deliver accurate, efficient, and effective interventions in inpatient care at the right time. Machine...

  Introduction Investments in and use of digital technologies have proved effective and efficient. Companies that want to improve services, increase user engagement, promote internal collaboration, streamline processes and become more agile in a changing environment should consider developing a successful digital transformation strategy before they enter the market. In this way, they can use different digital infrastructures to collect, process, and store data to develop better products for end-users. By using modern technologies, companies can improve the customer experience and improve customer loyalty and retention. Many companies today seek to empower their businesses to better serve their customers through using digital technology. The ability of organizations to drive the adoption of technology and develop an innovative culture is crucial.  How do digital transformation change leaders' mindsets? Digital transformation requires industry leaders to rethink their strategies...