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Business Model Innovation

Have you ever wondered why super-successful companies like Nokia or Kodak suddenly lose s your advantage? Or how companies like Commodore Computers, Grundig, Nakamichi, Newsweek or Polaroid could fail? They do not have abundant R & D resources, the best employees and deep knowledge of their ?

Yes, but they had something else in common:
All of them missed the moment when they should have left their successful path to rethink your business model. They lost out on radical innovation because were too busy managing daily activity and serving their current customers – rather than  for future opportunities. In other words: Today’s success is the enemy  tomorrow’s success! The innovation cycle spins faster than ever in almost every industry.   Whether innovation increases the value to the customer of a product or service, or reduces its  costs
and thus creates a competitive advantage. Apple, for example, creates a high perception value for the customer with its new and innovative products. And Dell, reduces its costs and capital work through the processes of build on orders. But although its importance is indisputable, there are many misconceptions about innovation. Three myths are particularly pervasive: The First; Innovation comes from ideas that no one has had before. Second; Great success requires great resources. and third; Disruptive innovations are always based on fascinating technologies.  Fortunately, they are all wrong! IBM did not invent the personal computer, Apple did not invent the MP3 technology, and Amazon did not invent the online bookstore. Successful innovators learn and recombine – while the pioneers are devoured by the wolves. Cisco had practically no R & D resources, but its innovation exceeded the largest research laboratory in the world; The AT & T – Bell Labs.
Today, 14 of the 25 most innovative companies have innovated in their business model – and not just its technology! Considers companies like Google, Amazon or Ebay. Great algorithms, yes, but it’s the
business model, and not just the technology that is responsible for its success. So, what exactly is an innovation in the business model?
A business model offers answers to four questions: Who is your target customer? What does it offer to customers? How do you create the value proposition? And how do you generate income?

And a business model innovation changes at least two of these four dimensions!  In our research, we have seen the biggest innovations in business models in the last 50  years. All of them have revolutionized one or more industries. For example, Ikea has redefined the  way of buying furniture, TomTom has transformed the navigation business, or Ebay has changed the world of commerce. However, only 10% of these innovations in business models  were new and introduced new business model patterns. The other 90% just adapted,  refining or combining said patterns. For example, innovative companies often creative imitation. They wondered: How does innovation in another’s business model

Could industry revolutionize our own industry?  In total, we have identified 55 patterns of business models that are responsible for all
innovations in business models. For ​​example fixed rates, supermarket, rent instead of buying, selling experience, e-commerce or
The Rake and Blade Pattern.

Let’s take a look at this: Since 1904, Gillette has been offering traps, but instead sells the blades to  obscenely high prices. Nespresso has creatively imitated this pattern,  selling cheap coffee and expensive coffee – and revolutionized the coffee industry. And many other companies have also applied the Rake and Blade model, Do you remember Apple’s iTunes, Amazon Kindle or Hewlett Packard inkjet printers?  Now, what do YOU ​​have to do to innovate in YOUR business model?  We advise you to follow these four steps: Initiation, ideation, integration and implementation.  During the Initiation, you must analyze your current business model. Once again: Who is your target customer? What does it offer to customers?
How do you create the value proposition? And how do you generate income?

During the Idea, this business model contrasts with the 55 patterns of innovation in business models  and develops new models. How would Nespresso conduct your business?

O is there a match between your product and the sales experience pattern

The challenge of making it happen l London Business School

good afternoon and the very first thing to say what a pleasure it is to see a lot of familiar faces for those of you who’d not met me before I’ll just say a little bit about my own my own background and and I was reminded of this because I was recently at a 30-year
reunion from my own MBA program 30 years and what I did after finishing my MBA in the US was to follow a well-trodden pat into strategy consulting are there any strategy consultants current ones past and reformed ones here in the room apart
from me we’ve got we’ve got a number of a number of strategy sinners or saints
here in the room on the consulting side what a lot of consultants of course do after a while is to roll up their sleeves and move across the Great Divide and instead of selling advice and become buyers of advice I moved into industry its group strategy director for a large multinational firm and I have to say i  was the perfect opportunity to get my revenge on my former colleague from the
Boston Consulting Group’s it happened who are desperate to sell me very high-priced advice which I was able to beat down ruthlessly and then and then in more recent times and more recent times I’d been here with with all of you as a strategy professor here at here at
london business school now when we come back to what strategy should be about at least on a good day it should be all
around the question what next and what we would love as strategists would be able to realize those hopes riding the next wave of performance or even making that wave and we’d also like to be able to banish those fears and fundamentally
that’s the central question that we’re looking to address as strategy people back in the day and what strategy people did was very much focused on formulating strategy it was very much around the the great strategic idea the answer to the question what are we going to do my
colleagues have kept in touch with at BCG at boston consulting group now say that what we called in in the day
years ago the strategy is now just the proposal it’s now just the proposal you have to do the work they were saying in order to get the
work and because the answer to the question where will advantage come from how will we banish those fears and
realize the hopes is perhaps less now to do with the way in which we formulate strategy and more down to the way in
 which we execute execute which is the theme I hope we can explore but let’s personalize it because given that I’ve spent my entire career pretty much 30 years of it in the strategy field I feel
pretty strongly about strategy questions and but what about all of us for example one way or another how much time do an of us in the room currently spend on anything to do with strategy how many of
us would say we spend a lot of our time formulating strategy show that show of hands very interesting very interesting for a strategy professor who might have been teaching lots of good courses on strategy formulation that looked to me like how many hands went up and again it was around a loaded question what does  lot of time mean but I don’t think we had more than a dozen hands going up how
many of us in the room spent a lot of our time executing strategy show of hands now look around so that does that
does rather point doesn’t it to what should be the balance in the curriculum in other words emphasis on the what yes twelve people put their hands up but when we come back to the how that’s universal around the room and over the next five years looking ahead how many
of us would expect to spend less time on anything to do with strategy more time  show of hands and do you expect strategy
to get easier or harder as you look ahead who’d say why why who’d like Church would like to kick us off why harder complexity
complexity if we define it is all about interconnectedness more connections it’s become a much more connected world on
multiple dimensions therefore much more complex I do a lot of work with some of the larger global professional service
firms but also in the london busines school context with them arranged a firm’s large small who come through our
doors on our executive education programs and pretty much universally the answer to the question will what got u here get us there is no because of the way in which context has been changin how many of us in the room enjoy sailin we have any sailors who got a lot of sailors excellent so what’s happening in the picture we’ve got the spinnaker up and we would only put the spinnaker up
 if we had a good steady relatively gentle tailwind and again without wanting to Trevor do the metaphor it may
be that these are the conditions in which a number of us a number of our leaders number of our organizations came of age there’s an economist that a number of you will have come across
Mervyn King and who is running the Bank of England walls deputy governor wa part running the Bank of England who
 talked about the Great Moderation and the Great Moderation according to Mervyn was the period which began in roughly
  and ran for nearly two decades in which measures of volatility by just about every count got greatly compressed in other words and we were finding that there was the same steady wind behind all of our boats and we could see ou into the distance in this picture
 because it’s rather a nice day of course then the weather changed didn’t it how many of us believe that term gentle
tail winds are about to return that’ called a rhetorical question my G you have to be very very careful with forecasts and I can’t resist here
stealing a line from a very good friend and colleague of mine who i’m sure man of you know andrew scott macro economist
who indeed worked very closely with Mervyn King at the time the notion of the great moderations being formulated and and some of you may have been been been taught by Andrew the three rules of  forecasting rule number one if you make a forecast never give a number you can say it’s going to go up or it’ll go down if you give a number you never give  date because one day you’ll be proved
right whatever you said this is sometimes called the stock clock theory of forecasting and we’ve seen a lot of use of that made recently by British
politicians and the third rule of forecasting is if you give a number and a date then never come back now in your organization’s i’m sure you’ll talk about a range of mega trends which are shaping the future and of course the picture in emerging markets which many of us would have been lightly optimistic about as drivers of growth a few years back looks looks rather rocky at the moment but it would be ridiculous to say that there’s no Headroom for growth’s left in China India and Brazil it’s m more a question of when we see the
 return and but of course it’s going to be a very rocky ride isn’t it we’re not going to be looking at smooth patterns of growth in emerging markets there’ll be many capacity bottlenecks it’s goin to be a stop go process or a go stop go
back go forward process in other words we’re looking at a pattern of growth looking ahead but probably highly disruptive growth we see social transformation this is a McKinsey forecast looking at a more than doubling of what they call the global middle
clas and we could continue to extend the list but fundamentally all of those we could regard as being drivers of growth but at the same time drivers of growth and disruption there’s an interesting work that’s been done at Harvard on volatility looking at the dispersion of
profitability between firms in given sectors across cycles and what stands out is what we might intuitively expect
 which is to say that in the era of th Great Moderation the Great Moderation when there was the gentle wind coming
from behind propelling all boats pret much evenly the variance of profitability became very low in other
words the gap between winners and losers in given sectors became much less than in periods of high volatility higher volatility much more dispersion of profitability much bigger gap between the winners and the losers all around
the opportunities and threats and who’s  going to seize them or avoid them first and fastest so the holy grail of strategy was always sustainable competitive advantage and what’s the issue here not that competitive
advantage is irrelevant but that much of what we used to rely on if we come back to some of the classic language of strategy we talked about the the ability to succeed because we create value we capture value at the same time and this
is suggesting that the rules the value capture and value creation are going to be changing much faster so a given
competitive advantage will not be to the same extent of rock on which we can build our whole corporate edifice a lot
of the work I’m doing with professional service loans is exactly around this which is welcome to a different world welcome to a different world we may as Magic Circle firms in law have felt that we had a rock-solid advantage customer lock in but in fact even the nature of what the legal sector is is starting to converge convergence volatility which those of you who put your hands up have been dealing with and for many a year and also now come we’ll write to the 4 for all of us sustainable competitive advantage I think we now have to talk
about transient competitive advantage so the issue then is how we renew so back to the sailing conditions where’s the
wind coming from now over the last three
plus years we’ve been running a research initiative which is also a learning initiative on where advantage might lie
in terms of how we how we execute so we run a one-week executive open program we typically take about 30 senior middle managers at time and as well as runnin a course we also collect data what we do is to ask each participant ahead of time
ahead of time to carry out a 360-degree survey on effectively on execution in their own organization around some
themes which I’ll share with you very shortly so effectively this is allowing us to identify execution bottlenecks to see what patterns can be seen across different sectors looking at what might make it really difficult in this more turbulent world to get our crew to move fast across the deck of that boat and pick up the sounds of the waves breaking on the rocks in the distance from the old days there are some myths or let’s say biases where we’re going to be kinder in strategy execution which we believe need to be countered the first myth that we are looking to tackle is the idea that execution is really about
vertical alignment so here’s the golden
thread where we define the strategy the vision if you like it gets embedded in the plan and we would then define kpi’s individual and team objectives and then we don’t provide some feedback on performance does anyone lived in an execution model of this kind now let’s
let’s be clear there is a place for vertical alignment and what we’re talking about here is undue emphasis in
one organization I work with they talk about cascading the strategy if you ever heard that term cascading the strategy I find it’s very interesting to examine these metaphors that we use in business life what in real life as a cascade it’s a waterfall what direction does the water go in and if you’re standing underneath the   waterfall you get very wet and rather annoyed so so immediately there’s questions about reversal of the flow but.
there is a such a strong bias in so many organizations towards this and what we believe is that it comes from an underlying view of hierarchy because if we think of a firm as a hierarchy then very naturally we’ll think of executions vertical alignment because we’ll have
been relying essentially on organization  design to do the job for us now we’ve already identified one concern one concern which is this is all one way but what else might be an immediate concern that leaps out at us as we look at this
what’s missing yeah so here we’re asking questions about horizontal coordination how how are we making those links across not just the links down the vertica chain which starts to be crucial doesn’t it if we’re looking to create solutions which typically involve connecting
different product and service arenas it starts to be crucial for innovation which typically is about boundary crossing and indeed if we’re if we’re missing horizontal coordination at that level then we may find that our ability for example to work with others become severely limited but using a different lens we asked ourselves what would it be
like if we saw the organization as being predicated not so much on power but on commitments promises and those what you’ve got here on the screen is simply download from Facebook you can plot your map of r elationships as Facebook would see them pretty easily any relationship that has any meaning carries with it some degree of commitment which is about promises and it’s about promises that bring about trust and it could well be that the crucial carrier of performance commitments in our organization have very little to do with
the formal hierarchy and of course those commitments would go beyond firm boundaries and we’d already touched on this how many of us in the room know a RM based in Cambridge I find us a fascinating organization it’s one of the UK’s rather rare technology success
stories  if you have an iphone or a samsung galaxy or any handheld device inside its you will have a RM technology effectively a RM
low power consumption so you don’t have o have one of those huge batteries that you see in movies about mobile phones from the 1980s and your phone doesn’t
burst into flames as it might with high power consumption so a RM indeed d create these designs but it goes much those designs create and manage an ecosystem and it’s an ecosystem which in many cases involves no transactions no money is changing hands however the
effective coordination and cooperation of those ecosystem members is absolutely critical for a RM success and but none of them actually work for a RM in other words we’ve moved beyond if you like  hierarchical model to one which is about an influence so the OEMs might for
example be Apple and so then the question would be just how good a job are we doing at the horizontal dimension of alignment not just within our organization but beyond its walls because I’d argue that many of us if we’re going to succeed in this world of
transient competitive advantage will indeed need to be highly effective in working swiftly with others outside our own boundaries so we’d mentioned that everyone coming on that program executing strategy for results completes -degree survey and one of the questions is who can I rely on who delivers the goods I can rely on X to do what he or she says they will all of the time or most of the time and it turns out that people can rely on their boss about eighty-five percent of the time direc reports about 83% probably because they
wouldn’t stay direct reports so very long if the school is rather lower than this but then when we come to colleagues and we’re talking here about colleagues in other units and partners partners meaning partner organizations oops then where am I talking we’re talking about
some a much lower degree of reliability now just stress this is aggregate data and it starts to get even more interesting when you when you break it down when you break it down by sector and by geography but it’s coming out of roughly now eight thousand respondents from about some 300 300 companies and if we do need horizontal alignment this starts to raise some very important questions in terms of what we’re doing or not doing now and from our own personal experience what happens when we can’t rely on our colleagues DIY does that ring bells around the room and now what else might we do you’re not getting any cooperation from him and it’s a crucial project and you know you’re
going to be judged on the success of that project he doesn’t elec for you what would you do talk to his boss ah right so this we call escalation escalation and which in some organizations seems to become a primary strategy execution tool for that reason so as we escalate and to his boss then you’re going to escalate to her boss presumably and then they’ll escalate to their bosses and then life in th boardroom is going to start to get really depressing because what we’ll be doing up there in the boardroom on the executive committee is dealing with these endless
endless escalations and a bad day wh 1we might do in order to deal with this is to say I’ve had enough of the escalations so now we’re going to have a proper plan to deal with it which makes it absolutely clear what everyone’s job is and what they’re expected to contribute the problem I believe the correct term quote from Count von malka  who reformed the Prussian army and is no plan and survives first contact with the
 enemy and so again we won’t be able to address this by relying on the plan wil we so then the question might go further which is what is fundamentally our xecution challenge and this we believe is one of the major sources of confusion and which is to say in some cases the
important challenge is coordinatin across units but not always for example  if we’re trying to do a turnaround
disaggregation may be very important it’s no coincidence that p houses private equity houses that essentially look to do turnarounds look to keep units very separate not least because eventually we want to sell them and we don’t want to have created a tangled web which will make it extraordinarily difficult to unplug an invested business the question there is as we coordinate more effectively across units do we also then become somewhat less flexible in terms of being able to adapt to shifting circumstances so one of the key is which of these is going to
questionb be most important because all of them  are in fact intention it’s not going to be possible realistically at a given point in time to be a superstar on al three of those dimensions it could b that the balance shifts over time nokia not the old nokia but the new nokia and
the old nokia siemens networks as it were and the leadership challenge there was to call the change which is to say the execution priority has been durin the darkest days of Nokia’s underperformance has been indeed all about vertical alignment but now now we’ve done the alcatel deal nd what we’re looking to do is to shift gear because coordination across what we’ve created with alcatel-lucent the solutions might we might be providing and has become the crucial piece so for any of us in the room it might be worth keeping in mind that question what is might we see that shifting as we look
ahead here are a few more myths the third one might strike you as od because a lot of organizations put hugefforts in communicating strategy one
senior middle manager of a company will be nameless said actually he needs to understand the strategy said I need to understand the strategy but it’s my job
not just pass on the PowerPoint it’s m job to translate the strategy into a set of executable priorities because the
issue is not have I seen the bubble charts and the two-by-two matrices nor is it about some level of understanding
about how we’re here to make the world a better place important as that is from the standpoint of emotional bayan but my
question if you want me to execute your strategies just what is it that you want me to do and why does it matter and who else does it matter to so in other words if wecoming back to the question of coordination the horizontal coordination again back to what you want me to do who
do you really want me to do it with so this would then come back to the them of priorities let’s say priorities ather than the strategy and the organization’s we were working with pretty much all have employee engagement surveys and often the employee engagement surveys have something like what we see in the top box here do yo agrewith the statement I am clear on the firm’s top priorities and then wha we find from the sample is tha eighty-four percent of managers agre with that statement we asked the same managers to list the company’s five top priorities actually was the priorities for their own unit less than half of two of half a direc reports could list two of the five this by the way might be a very interesting
exercise for any of us to carry out because even before we get to the how do you want me to do it and with whom I’ just what might those priorities be and without wanting to to be awfully depressing and we kind of them made it a little bit easier rather than top five
how many of you can get the top three and again in this sample of now eight thousand people or thereabouts– coming
from some illustrious companies which might even be represented in this room who knows we were finding that if you
just made it one priority you’d get a somewhat higher hit rate and you saw on the slide a little earlier that rather forbidding German character count font malka who reformed the Prussian army after a disastrous defeat at the hands of the French who are they who are the
French people here in the room excellent so so this was the Battle of yenna the Battle of Vienna and you have the Pont
yenna by the Eiffel Tower I believe and this is where Napoleon defeated the best army in Europe the Prussians because
they were they the best trend they could march in time better than any other army they could shoot more accurately they
 were the best but they were smashed and in the in the examination of the ashes that followed an insight which is a very
important insight not just for military history buffs but in this context around the quality of commitment was that term
the Prussian army had been trained very much on the basis of what Bob Mollica called be failed static Befehl
 translates from the German as an order be felled stuck deep so the notion was that you’d be given an order and you’d pass it down the line and the problem hen arises in the fog of war when the chain of command is broken as a sensible soldier what you do when no more orders are coming you stop you wait you wait so the question was could we move in terms of the nature of the commitment
was being asked from biffle’s tactic t after Ike’s tactic which when the a frog would be much more defined as than element of command in it but it’s the
 level of purpose it’s providing the reason why so if we understand the reason why and if we have been trained to understand the reason why then when
the chain of command is broken what might we be able to do think think and adapt also we learn the skill of not cluttering our subordinates with too many commands in other words we be able to ensure a much better signal-to-noise ratio and those reforms around our strat
actic were fundamental in re-energizing that particular organization with
somewhat mixed blessings and some decades later of course but it would come back again for us to they question when we’re talking of priorities do we have an understanding of the what and are we providing some tools for the ho and have we also address the why because let’s be clear in turbulent environments we’re not going to get it right all the time are we but what we do want is to have large numbers of people assuming that our organization has large numbers
 of people or our ecosystem contains large number of people making more or less the right decisions most of the
 time and given the challenges o turbulence if we can pull that one off then we will have built a very powerful and much more sustainable source of
 competitive advantage now here’s a fourth miss sometimes execution I’ve found gets confused with operational exceence operational excellence is
doing the thing right but as well as doing the thing right there’s the question of doing the right thing doing the right thing and which brings us into
 the theme of resource allocation and this chart may be a bit of a site test for those of you at the back but it’s a summary of what to me at least is very
 interesting where done by Steven Holl at mckinsey looking at the implications of dynamically allocating resources from year to year
 or simply sitting on your hands as a resource allocator so the comparison is to do with the degree to which your
 allocation of capex capital expenditure is essentially the same as what you’v got last year if that’s the case th correlation index will be up at one the
lower it is on that chart the more we find that you won’t necessarily have the resources that you had allocated last year this is about capital spending but
it could be about IT and it could be about talent and from this survey which is called how to put your money wher your strategy is and the evidence is
 that if you are not a dynamic resource allocator then your performance measured here is TS our total shareholder returns is likely to suffer so not surprising as new opportunities and new threats emerge the question again is you know are we  biting the bullet in terms of having the
tough onversations about resource reallocation because again this is a line taken from Steven in many companies
investments like war which is to say it’s easy to start one and in their survey in the McKenzie survey typically middle managers said not much of a problem
getting hold of resources particularly if we built up a bank o credibility over chat over time but what is the problem with what it may be easy to start one but very difficult to get out of one so here was the crucial question around exiting too slowly or struggling to exit and it’s not just about the waste of resources it’s also about the emotional wear and tear so you’ve got some initiative which should have been painlessly put to sleep years
ago but it’s someone’s baby and you’re the person who’s now got to say I’m sorry it’s an ugly bear b ch again again starts to come down
to the kind of discipline that we’re going to need that we’re going to need as that as that Jam portfolio of opportunities new opportunities and new dangers and starts to shift now performance culture how many of us how many of us in the room would like to have a performance culture in their
organizations so we reward performance show of hands and we like that because we want people to score those goals.
don’t we if the challenge is fundamentally vertical alignment vertical alignment then what we typically call the performance culture
where we’re rewarding individual performance down the hierarchy could make perfect sense but what we found again in our survey in our execution
survey with some disturbing results so for example considering adaptation of the eight roughly 8,000 managers in the
survey more than half were saying that experimentation and failure had hurt their career at least to some degree that ring bells then when it comes down to coordination fifteen percent was saying those issues got addressed promptly if it hit their numbers but otherwise if you want to follow the gypsies warning get your own job done first before you start collaborating
with others and then two-thirds egardless by the way of whether or not his was identified as the challenge or that but two-thirds of the people in the sample was saying that individual performance was the top driver of promotion decisions so again we would  want to come back to the classic
question what are we really seeking to achieve then what are we really seekingcto meaure then what we’re reallcseeking to reward here’s the final oneccthe problemcyou don’t you don’t what we’re after here is identifying what we’ve beenccalling the distributed leaders in the organization’s of those who are coming
on this program and taking the survey and I like I like the last one Steve Jobs this test which is if you are leaving for a new company and could take
a hundred people from your current.
company who would they be the importance of this is that the distributive leaders back to that web that network of
commitments are those who are commandin the key nodes they’re often the cross pollinate as if we’re talking about the
 translation of the strategy into executable priorities they will very often be those who are doing that they will be the people who in factor effectively collaborating with other distributed leaders across your organization if we’ve got the wash and
the why and the how of the priority is clear so again where we might find once more in a highly turbulent environment
execution falling down is where we’ve simply looked at the organogram from the
top rather than identifying who were the holders not necessarily of organizational power from a structural sense but who are the holders of influence so so just in summary and if we’re if we’re looking at the relatively new world which is not a new world for many of you in the tech sector where
volatility and uncertainty and complexity ambiguity the VUCA world has been around for a while but more and
more of us I believe we’re not doing so already and we’ll have to ask ourselves just to what extent are we building an
execution advantage by moving from wha may have served us perfectly well when we had the wind behind us and the spinnaker on our boat up and to what’s now going to service I hope in a world that’s much more much more turbulent i it is a world that we’ve got t discolour progressively rather than
thinking about the linear approach to strategy my colleague Don done Sal talks
about replacing lines with loops and the the notion of this jean-luc is that the first part of it is about making sense making sense of an
ambiguous situation then from making sense the question is making choices
what are we going to do not do what we’re going to stop doing from choice we come to commitment which is all about the tough discipline that means that the
choice we’ve actually made really has some teeth what do we have to do with
the top left close the loop so this is where we’re making revisions and the key here the key here to my mind and this is back to the leadership challenge is that these are very different conversations they’re very different conversations let’s remember unless we’re at the sharp edge in our organizations where we’re physically coding software or using screwdrivers and hammers the only tools we have our words when we’re making choices and this is where we want t have a debate a debate with people taking up a position and arguing forage
and defending it when we want to make it happe about what’s the nature of your commitment is there a good promise happening here conversely is there a good ask the tone when we’re making revisions the wheels have come off the wagon didn’t work out as expected what’s the worst thing we can do at that point the blame game the blame game way bac and the boston consulting group where i worked at a tool that they call the experience curve and the notion was that as you gained experience you’d improve on cost or on technological discovery you’d move down the experience curve but
if you indulged in the blame game wha would be the slope of the experience curve you’ll be absolutely flat becaus it’d been no learning and therefore no competitive advantage that the final point is really this when we come back to success is it about the hand we had dealt worst about the way we play the hand and the sessions being them really pushing very hard for the way we play the hand to be the source of competitive advantage rather than market position the resource-based view that you took in in your core strategy course at lbs so i hope i hope this has been useful and interesting and i have to say it’s been  a real pleasure to reconnect wonderfulto have you back

MBA Islamic Finance – Accredited Online Islamic Finance Degree | AIMS UK

you are familiar with the word Islamic banking but what most wants to know is where it came from is Islamic banking really Islamic and was
there a concept of banking at the time of Prophet Muhammad peace be upon him in this video we are going to answer all these questions plus we will give you a short overview of growing demand of present Islamic finance industry and if you are a finance professional why
should you consider learning Islamic finance and why aims mba in islamic

banking and finance is a first choice for professionals sincere 2005 let us first discuss the origins of islamic banking and financial system the origins of islamic financial system can be traced back from the time of prophet muhammad peace be upon him trading was main source of income of people living in makkah in makkah prophet muhammad
peace be upon him used to carried out merchandise to syria on business partnership basis when profit migrated to medina the main source of income of people living in Medina was agricultur they used to make a forward contract for prescribed dates to be delivered later in one two or three years time this was the ancient form of salaam prophet  muhammad peace be upon him allowed this kind of transactions under some conditions in addition to that islamic modes of transactions that prophet
allowed in his time include shirka a jar and surf later during eighth and twelfth centuries the Muslim world developed several sharia based financial instruments including hawala trusts promissory notes bills of exchange and check system inlaid of 19th century Islamic world started practicing modern islamic banking system which is derived from quran hearties edema and chaos in
this system or the prohibited element have been excluded such as usury uncertainty and speculation it is a very common concept that Islamic banking is not really Islamic as a matter of fact there is no issue with the Islamic banking as a system but due to some commercial minded bankers and investors the industry is facing few issues however these problems are minimizing over the time there is amajor difference between conventional banking and Islamic banking systems for example you want to start a manufacturing plant if you go to a
 conventional bank the bank will pay you
the money for the business and will charge you an interest on that money in a contrary if you go to an Islamic bank they will make partnership with you in your business since the financial risk is borne by investors only people with skilled business proposals come up this
strengthens the economy of the society and this is the reason why the Islamic banks were unaffected by recent international banking and subprime mortgage crisis the importance of Islamic financial system cannot be ignored because it is an essential need of Muslims around the world and that is twenty four percent of total world’s population this percentage is expected
to reach thirty-five percent to outnumber any other religion by year  good thing is that Islamic banking is also popular among non Muslims
because of the following reasons it condemns usury which is also strictly forbidden in Christianity Judaism would
highs and Hinduism it is an ethical and moral banking system which condemns taking advantage of others misfortunes
due to all these facts Islamic financ is now trillions of dollars industry with a yearly growth rate of more than twenty percent there are tens of
thousands of job openings every month in more than 100 countries where skilled Islamic finance professionals are needed
considering the growing demand of Islamic finance professionals eames launched MBA in Islamic banking and
financing year two thousand and five today thousands of aims graduates are offering their services to leading
financial institutions worldwide Ames is a uk-based institution and is among the pioneers of Islamic finance education aims provide quality
education which is well recognized by financial institutions globally leading Islamic finance scholars from all over
the world are associated with aims to produce highly skilled Islamic finance professionals MBA in islamic banking and
finance is a fastest way to do mastery in the subject it is a must attend training for graduates and professionals who are seeking valuable education MBA is a 48 credit hours internationally accredited program and well recognized
among the financial institutions worldwide MBA degree is a career oriented qualification and ideal for professionals seeking higher positions
in any part of the world it starts from the scratch and participants do not need any prior experience or education in Islamic finance it is hundred percent online and the lectures can be easily managed between work and family it develops skills needed to perform key
roles in the development and operations management of Islamic financial institutions the MBA have benefited thousands of professionals who are working as banker financial consultants accountants lecturers commerce
professionals insurance professionals and people willing to get the best islamic finance education available aims
qualifications have helped many graduates by increasing their salaries up to two hundred percent many of ames graduates an hour working as head of the islamic banks and head of islamic product development MBA education is delivered through highly interactive
learning contents which are available to students anywhere anytime the learning platform is very flexible students decide their own time to study and  complete the program 24-7 academic support is available to the students if you fulfill the eligibility criteria
you may achieve MBA by following three simple steps you visit our website aimsdot education and complete the online
 enrollment form within 48 hours you will receive login details and access study material that in Lachlan’s interactive lecture comprehensive study manuals islamic finance library and access to islamic finance faculty you study at your own pace and submit
assignments as per your convenience y are given two years time to complete your qualification however most of the
students complete MBA in 12 months once you complete your study you simply request your final examination that is conducted online the success ratio of
students who study as per given instructions is ninety-five percent MBA curriculum is updated on regular basis to make our graduates fully aware of recent market trends MBA is a two-part program in the first part you study the Islamic finance elective courses and in
the second part you study the businessmanagement core courses in the first or MBA elective part you study Islamic
micro and macroeconomics Islamic modes of finance Islamic commercial and investment banking Islamic accounting
treatment Islamic insurance advanced areas in Islamic finance and finally you make a project on completion of the
first part you are able to design Islamic financial products from you or an existing institution additionally you
are awarded by certified Islamic finance expert and master diploma in Islamic finance certification the second or MBA core part comprises of six business courses in which you studied business management marketing management humanresource management organizational behavior management accounting and international banking operations and laws on completion of part two you are able to formulate can
kate and implement strategic thinking processes and apply your management and business skills in the context of islamic finance aims flexible learning environment allows you to enroll anytime for more details and to register now please visit our website aims dot

Is Getting An MBA A Waste of Time? | 5 Alternatives To An MBA | Real-World Business Education

gentlemen Antonio here all right today I’m going to be answering the questio should I get an MBA I get this question quite a bit twice in the last week over the last year about 40 times people ask me this question because I went to the University of Texas I got a great education I met a lot of amazing people overall my experience was positive but my answer to this question may surpris you because I think that for most people and MBA is a waste of time why do I think this well in this video I’m going to give you five alternatives to getting
an MBA I’m also going to talk quickly about who not MBA is probably right for who it is not right for in I just want to help you make the right decision I
think the landscape has really shifted and guys let me know what you think in the comments down below do you think getting you know higher education you
think it’s overrated who do you think you still need degrees I you know I’ve got four kids so this is always something I’m thinking about and I’d like to believe that this information
could help somebody save a lot of money so who is an MBA right form well if you are from the corporate world you’re going to stay in the corporate world you
want to be an investment banker you’re going to stay in consulting then an MBA may be right for you because it’s going to help you make a jump maybe double to triple your salary in just a few years so in that case perhaps or if you were like me you actually I had mine paid for by the state of Texas using the Hazelwood Act I went to UT for free so in that case I it was pretty much I gave up the time but I got my education paid for let’s say you have no network you
have never taken a business course in your life then an MBA program may ben great so all the sin you’re going to
meet a wide range of people if you need introductions to great companies that are looking to hire basically entry-level MBA positions this may be a great choice but for most people the big
reason that you want to avoid going down the MBA path is the cost and two things about that cost one the money so an MBA program is not free you’re talking about
a hundred thousand dollars for two years to go to a top program maybe seventy thousand fifty thousand if you’re going o a lower end program maybe twenty to forty thousand if you’re getting it online still gentlemen that is a lot of money in addition there’s part two of that cost the opportunity cost you’re out of the workforce for sometimes up to two years so if you’re
making 50 grand make it 36 even if you’re making you know $24,000 a year guys that cost you 48 grand that is the big reason I think it is wrong for most people n addition that a lot of the
information being taught in these programs is very theoretical I try to be very selective about who I chose to learn from what classes I took but about 75% of the information was being taught by professors that really had never had never really built a business had not been in the business world it was very theoretical another thing and I know I talked about money but if you take on a lot of student loan debt gentlemen it’s going to hurt your choices whenever you get out I had one good friend that he really was limited by what he could decide he had $1,000 a
month student loan debt that he had to pay within months of graduating and so it you know he had to look at getting a job that paid a certain amount he
couldn’t go off where he felt he couldn’t go start his own company all right gentleman I talked about the good talked about the bad now let me give you five alternatives to getting an MBA
number one spend 30 minutes a day investing in yourself gentlemen that is something that I know most people don’ do it if you did that you could be
to learn about sales grab the ultimate sales machine you want to learn aboutbsuccess Napoleon Hill he wrote about this a hundred years ago and the information is relevant and it’s right
there you want to learn how to negotiate the heart and mind of the negotiator by Lea Thompson a great resource influencer Robert singer Dini you want to get this
book gentlemen there is just so much information out there that is freely available in libraries you can go on Amazon you can purchase these books and
own them what I recommend the point is so much free information podcasts mixergy calm entrepreneur on fire smart
passive income check out all of these great resources where you can listen as you’re commuting to and from work and literally improving your education as
you’re doing this 30 minutes a day now the problem with this one is it’s one direction you are receiving it from you’re not able to interact with others so that’s why I go to point number two
which is looking at online education that is ultra specific so I’m not talking about getting an online MBA what I’m talking about is understanding what skill sets you need and then studying
that online so podcasters paradise my friend John runs it it’s a great resource if you want to become a podcaster and I’ve gone through the
program my wife has gone through the program I have many friends and have gone through that program it works if you want to start a business room eat
safety he’s got his zero a lot what I love about his training is he focuses on really how to start a business figure out what are people going to pay for I
linked over to room meat he’s got a great resource right here 28 things that  people will pay for point is find the
education you need that is ultra specific and go out there and grab it all the resources I just mentioned they are not free the point is they’re going to be a lot less though than that
hundred thousand dollars that you’re going to spend on that MBA education alternative number three hire a coach or
find a mentor you can do both you can do either and they are very different things I really like the idea of if someone investing in a coach you look at
the top athletes in the world what do they have they have coaches and those coaches simply are there to keep them on
track to keep them motivated they bring structure they bring a system to the way that they’re looking at things and they make time for them so that’s the thing about a good coach is that you will probably have to hire that person again going to be a lot less than MBA but if you know where you’re going if you’re ultra specific about hey this is my goal
and where I want to be in six months hiring a coach can be one of the best decisions you’ll ever make
now mentors are different usually they’re not going to be paid although they can be but a mentor is someone who’s at a position where you want to be
and the hard part about this is making sure you find a mentor who has time and who can bring a bit of structure to it but if done correctly you can find some amazing mentorships if someone they can maybe take you to the next level and they can click it’s basically like having a Shepherd a guide someone that is walked the path and they can show you how to get there alternative number four and this one’s going to be a bit extreme Marine Corps or join the Peace Corps or
become a volunteer with the Salvation Army the point I’m making here is to join an organization which has a history of actually working with the people that
are in there and providing you know instance great training it’s funny when I went got my business degree they had a class on leadership and it was a good
class but I can tell you you didn’t come out of that class in my opinion being a better leader you maybe had the tool set
for it but leadership is developed I think real managerial skills are developed when you actually take what you’ve learned and you actually are forced to apply it one of the things I
learned in the Marine Corps leaders lead from the front and you always lead by example something that I think a lot of business leaders could learn from but if
you can find an organization which has great internal training I’d love to hear  from you guys in the comments if you have any other ideas of organizations
that are like this but if you could find an organization like that it is probably going to be a great alternative to getting an MBA alternative number five start a business
guys I love entrepreneurship but I thin there is nothing else that will prepare
 you for business and for all aspects of it then actually running and starting your own business you don’t have to go full-time you can start it on the sidegoing down that path is going to expose
you to accounting to marketing to sales to PR to you know management and structure to strategy to the tactics of running a company and you’re gonna it’s going to be tough and most likely you’re going to fail initially and you’re going to keep failing but eventually you’re gonna you’re going to hit get a hit you’re going to have something it’s like
wow this really worked you’re going to make remember making my first sale I mean it was amazing it took me like five months but we figured out how to do it
and that there is nothing like learning from experience hopefully you can take these alternatives you can apply them maybe you can save some money
I do think an MBA is right for certain people but for most people it’s probably
not going to be the best decision guys again let me know in the comments I’m going to support this with an article I’m also going to link you over to my resources pages at real men real style it’s I think one of my best pages at real men real style but one of the most underused because if you look in the startup business if you’re looking to you know innocence get going with a idea you have or you’re considering an MBA you definitely want to check out that page gentlemen that’s it I’ll see you in the


The MBA structure, online resources, exams, support and more…

the MBA program is true to the core values of the school it’s our flagship program where students are normally in their mid thirties there are busy working professionals and there may be
 years on in their career and have not had an opportunity to gain formal qualification up to now or perhaps have trained as a lawyer or doctor or anengineer and they want to gain a wider
skill set in terms of business and management skills dealing with people and problems change in strategic planning in their organizations and the

MBA would give those students the core skills to do their jobs better in a wide variety of industries and economies around the world nine courses are required seven core courses and to
lactose admission is normally gained by holing at first or second class honours undergraduate degree which is recognized by huriya twat University alternatively
if you do not hold an undergraduate degree a mission can be gained by passing three courses one of which is a core course for the MBA program we award exemptions from core courses on the basis of bachelor’s level of qualifications we also award exemptions on the basis of over 30 professional  qualifications and these are all listed
on our website there are a number of ways you can study your course with
Edinburgh business school you can study by distance learning you can study at one of our three campuses in Edinburgh Dubai or Malaysia students can study over a 12 or 24 month period in
Edinburgh and Dubai or over a 24-month period in Malaysia you can also study one of our international network of learning partners across the globe there’s a wide variety ways that you can
order your courses you can order your courses online via our website at EBS global Nash by clicking on the apply page alternatively you can order your
courses via or regional offices around the world or network of distributors we offer a range of value-added services for students that feel they may benefit
from that increased assistance where in studying a course services include online revision which have students to
prepare for exams a series of structured online tuition which guides the student to a course in full and also want to one online mentoring where students can get support from their dedicated tutor but we certainly don’t believe in surprising their students so we published ten previous past examination papers and we also publish an examiner solution and a
good students answer so the examiner is solution that gives students an idea of what’s expected for the question and also the good student answer key
students an idea of what is defined as a good student answer we also offer a four-day intensive seminars and to a revision sessions held at our campuses in Edinburgh to buy in Malaysia and
these are aimed at our distance learners or four-day seminars offer practical insights into specific aspects of a course while or revision sessions focus purely on exam preparation the intensive
seminars are a great opportunity for distance learners to come to our campuses and engage with like-minded individuals and immerse themselves in group discussion around case studies we
give students a lot of support when studying our programs this includes a comprehensive text delivered in print and true an interactive
password-protected website but we also give students the ability to download or course material in PDF format and also a lot of our students are busy working
professionals and they’re on the move so you can download mobile formats for tablet devices ipads and e-readers winning the student portal you also have access to a course
forum and you can engage with members of faculty who set the contents of the course and engage with them and I have any difficulties or any conceptual
bottlenecks from your reading the course material your study the course material you can engage with the faculty ask a
question post it on there and also see what other students have asked but money were students in fact like to keep in touch with each other across the globe
and we also have the MBA Facebook students group which is a popular area or students to go on there find out more about us and ask each other
questions about their studies and about the school but not only do we provide the learning resources we also provide students with the ability to self-assess
and self-paced if equestrian studies within the student portal you can actually complete end of module self-assessment multiple choice questions and case studies as well as
essay questions but we also have what’s termed profiler software and this checks your exam readiness and builds up a picture of your strengths and weaknesses
as you progress through the course materials so that you can see the areas that you may need concentration on as
 you prepare for the examination in the manage studies section within the student portal you can carry out many of your administrative tasks you can view
your examination results you can register for your examinations and see any exemptions that you may have been awarded you can also view the
 examinations timetable within that portal area each of our courses are examined by a three-hour closed book examination which are set by the faculty
here in Edinburgh and also scripts are marked here by the Edinburgh Business
School faculty we’re on examinations four times a year in June in December
which are major exam sessions in most cities around the world and we also offer to smaller examination sessions in
March and August in select locations around the world specific subjects following feedback from our students were increasing giving students the opportunity to take their
exams by computer at local examination centres run by edinburgh visit school accreditation is a term which is used
differently in educational systems internationally it’s very important for us at the school to make sure that our students on our prospective students have confidence in the integrity of the
war they’re signing up for and for all programs this is guaranteed by virtue of her eat what university stages as a
royal charter institution we spend a lot.
of time at the school ensuring that the various ministries of Education worldwide recognize our degrees and the degree outcomes are valued and this is
something we take very seriously flexibility of delivery is one of the core underpinning values of Edinburgh business school the courses are also
very practical the equip students to do their jobs better equip them with those core skills really to make their organizations more successful and be more successful in their careers
 everything we teach is practical and applied everything students learn at the progressed through their studies they
 can apply to their day job you can study what you want how you want or wherever you want but wherever you are in the world will always ensure that we assess
you to rigorous standards and this is to ensure that or degrees maintain their desirability and credibility and this is
what makes Edinburgh Business School a great choice for students