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Don’t let your engineers hack together workarounds that will need to be maintained down the road; provide real engineering solutions to the types of problems new software has. Before you hire a data scientist or implement expensive machine learning software, have a face-to-face conversation with 15 customers.
All three factors have become more common over time, which we argue stems from firms’ increasing reliance on intangible and knowledge inputs in their business models. Emerging digital firms compete with knowledge, strategy, and expert human capital, attacking even the largest established firms.
We recently worked with a high-growth medical device company that makes sophisticated hardware and software systems. The company was structured around fully loaded product business units, each with its own Engineering, Supply Chain, Operations, and Product Marketing.
However, extensive energy can be spent learning the political dynamics, internal processes, and even standard operating procedures for software tools. I joined consulting to learn new things constantly, but over time I also realized I wanted to gain depth rather than persistently add breadth to my knowledgebase.
This means that for any operation in the Epicflow system, your business data remains secure on your servers. Epicflow’s knowledgebase and training materials, any other source, or all together. With DataGuard, we provide cloud service while making it possible to keep your data on premises.
long term vs short term investments, M&A activity, enterprise vs operating unit accountability). And it will mean getting comfortable with influence derived from sources other than positional power, such as a decision right that is tipped one way or another for key operating issues or budget control that is granted to a new unit/function.2
Professional services is an expansive space spanning several industries – consulting firms, software publishers, IT service providers, even manufacturers and distributors that offer post-sale services — each with its own set of challenges, regulations, and opportunities. They provide customized, knowledge-based services to their clients.
In a knowledge-based economy, research becomes the means of production. Each business carries its own unique challenges and requirements, from proprietary data types to operational constraints and compliance requirements, which may require additional customization and scientific progress.
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