“Community is the new marketing: You don't build a community to "promote your product" You build a community so you DON'T have to promote your product. Point: community is the great growth unlock”
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Over the past few months Advantexe has experienced a significant surge in the demand for marketing focused business simulations that develop skills and competencies in what we are calling, “Marketing for 2021 and Beyond.”
The increased demand has been from every industry with a slightly heavier emphasis coming from life sciences, high tech, consumer packaged goods, and financial services. The requests have ranged from simulations designed for marketing professionals to improve and expand their skills, to marketing skill building for employees in various non-marketing functions to better understand the role and importance that marketing has in the new value chain of an organization. In other words, developing empathy in a cross-functional environment.
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Supply Chain Management, Procurement, and other operational functions that are critical to the success of a business are more strategic and more important than ever. In the new realities of the post-pandemic world, the skill profiles of people in these functions have changed dramatically and talent development professionals are struggling to identify, assess, and develop the skills critical for success.
Analytical skills are always important, especially when we live in a world of seemingly infinite data. The need to analyze data to make the best decisions for the company is a core competency that needs to be constantly nurtured and developed. However, there is an emerging skill in the world of Supply Chain management that is even more critical: Business Acumen.
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As long as I can remember, corporate talent development strategies were designed and forged by natural limiters such as the time, money, and resources required to bring employees in to attend stand-up, face-to-face learning events. As a result, when talent development professionals looked at their organizations, they were faced with the choice of the bell curve: either focus on the “far right side” of the curve, those defined as strong, high potential performers, and let the rest of curve fend for themselves. I recall one client say many years ago that the cost justification analysis of moving the far right a fraction further to the right was far more effective than moving the rest of the curve to the right.
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It will be years or even decades before we fully understand the profound impacts the COVID pandemic has had on businesses and the way we work. Earlier today, I was having a great discussion with one of our clients about observations and learnings we had from a recent 5-connection virtual Business Acumen and Business Leadership workshop we conducted for senior leaders.
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