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The world knows about incentive tools since the Biblical days as a motif intertwined in many stories. In the story of Jacob, for example, who worked for Lavan the Aramaic for seven years in exchange for Rachel’s hand (and then another seven years, but we are not in favor of deceiving the workers). The potential benefits and successful implementation of a well-known and clear remuneration model first and foremost involves increasing productivity and improving efficiency. However, it is difficult to say that the remuneration model is a new or innovative tool. Still, it can indeed be implemented with innovative approached and to meet contemporary needs in the industrial world.
We are in the midst of a significant transformation in the operating world,
thanks to the digitization of production floors. This transition is so revolutionary
and significant that it received the name Industry 4.0 to represent the fourth
revolution that took place in the manufacturing sector.
A 2019 survey of CEOs and senior executives found that the digital transformation of the organization is their biggest concern.
The estimated loss of misalignment of digital transformation in various organizations is $900 billion in the US market in the past year.
This article will present five ‘keys to success’ for the proper implementation of digital transformation in the organization.
Strengths are strengths, and weaknesses are weaknesses. In a stable environment where technologies and market structure remain constant, this is true. Still, we all know that the environment is far more permanent and, in such situations, the right way of looking at the business world should be different, dynamic, and one that challenges our thinking.
Up until the early 1990s, the software development methodologies that dominated were highly regulated, over-designed, and micromanaged. These methods were described as a ‘waterfall’ because each phase started only after the preceding phase was completed- characterization of requirements, content building, code development, and testing. These methods lost their effectiveness as the world became a place where technological changes are accelerating, and development teams are required to adjust while on the move. Out of this necessity, the Agile approach was born.
