Tobias Baer tackles the issue of payment fraud, credit fraud, and money laundering and explains how the universal payee ID can reduce losses. He identifies how fraud schemes are enabled by and benefit from weaknesses in most banking and payment schemes around the world.
One of the most amazing aspects of working in many different countries is the realization that a few countries have the perfect solution for a problem that costs most other countries literally billions of dollars. One of these things is the universal payee ID. It could massively reduce payment fraud and credit fraud losses and seriously hinder money laundering.
As I’ve discussed in the past, today we face the problem that banks are very much left to their own devices in confirming the purported identity of a customer or counter party. This causes three big problems.
The problems and solutions identified in this article include:
- Payment systems
- Unique IDs
- Biometric data collection
Read the full article, Why Covid-19 has shown that we need a universal payee ID now to combat fraud, on LinkedIn.
From her company blog, Nora Ghaoui shares a two-part series that examines the strategy statements of large companies and explains why strategy writing often results in generic statements.
By the time a large company has finished its strategic planning cycle, it ends up with strategy statements that could apply to any company. The same phrases show up every time. Why is that? Do great minds think alike, are people running out of ideas, or are market trends forcing them in the same direction? Before we get into the causes, let’s look at the strategies.
A.G. Lafley and Roger L. Martin, in their book Playing to Win, emphasise that strategy is a set of five choices: the company’s winning aspiration, where it will play, how it will win, its capabilities, and its management systems. Their expectation is that a successful company has a unique right to win.
Similarly, Michael Porter’s famous article “What is Strategy?” states: “Competitive strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value.”
Can we see these principles at work in company strategies today? What do the company strategy statements say? For now, let’s take these as correct representations of the company’s actual strategies.
The subject of strategy statements include:
- Where to play and how to win
- Capabilities and systems
Read the full article, Do large companies have the same strategy?, on the Veridia website.
Umbrex is pleased to welcome Bernhard Heine with Professional Business Coaches. Bernhard Heine is a Business and Executive Coach at Professional Business Coaches, Inc., (PBC, Inc.) a company he founded to help business owners and leaders achieve their vision. Bernhard has more than 30 years of experience working collaboratively with business partners in all phases of business management, restructuring and transformation, particularly in: strategic planning, marketing and sales, organizational design, engineering consulting, project management, coaching and facilitation.
Prior to forming PBC, Inc., he was Executive Director for Strategy and Business Development for eight years at Textron Inc. His responsibilities included: advising senior leaders, facilitating meetings and training sessions, leading strategic planning initiatives, conducting corporate and business strategy assessments, and screening attractive industry and business growth opportunities.
Prior to joining Textron, he was principal at Alliance Consulting Group, an e-business strategy consulting firm. Prior to that, he worked six years at Coca-Cola in Germany; advising the CEO and his staff on restructuring the German bottling system and implementing new marketing and sales strategies. Before Coca-Cola, he was a management consultant with the Boston Consulting Group, an international management consulting firm (also in Germany).
Bernhard started his career at a marine transportation consulting firm where he worked globally as a marine engineer on commercial shipbuilding projects, especially in Japan and South Korea.
Bernhard holds a BS in marine engineering from the US Merchant Marine Academy in NY. He also holds an MBA from Harvard Business School and is a Certified Professional Business Coach with the Professional Business Coaches Alliance, Certified Legal Practice Coach, and Authorized Client Builder Sales Trainer. Bernhard has also achieved the “Master Coach” designation from the PBCA in Sales, Coaching, Leadership, Marketing, and Exit Planning.
Umbrex is pleased to welcome Caroline Wooldridge. Caroline Wooldridge spent a few years at BCG after an MBA at Wharton. Since BCG, she has led operations at ~100 person start-up, and most recently spent a year in strategy & transformation work at WeWork. Prior to Wharton, she worked 7 years in marketing and media.
She has just left WeWork to begin independent consulting. Caroline has particular experience in transformation, operating models and org structure, strategic planning, board / funding material, marketing, product development, and customer satisfaction analysis. She lives in Brooklyn and is exploring opportunities in both New York and Los Angeles, as well as remote engagements.
Umbrex is pleased to welcome Yevgeniy Rikhterman. Yevgeniy Rikhterman spent three years as the Director of Strategy at Herff Jones, a PE owned CPG company. Yevgeniy has experience in creating strategic plans, as well as an evergreen strategic planning processes. Yevgeniy led the strategic planned that helped to maximize the value of Herff Jones during a critical PE transaction.
He also led the corporate development, and M&A aspect, and as such has specific experiences that is applicable to mid-size companies looking to grow through partnerships and acquisitions. In addition, he led multiple product transformations, and is experienced in not only understanding root causes, but also guiding the implementation of the solution. Prior to Herff Jones Yevgeniy spent two years as a consultant at the Boston Consulting Group (BCG), working on a variety of projects in finance, retail, pharmaceuticals, telecom, industrial goods, and aviation.
Yevgeniy lives in New York City, and when not working enjoys travelling around the world, and outdoor activities. He is happy to work projects globally.
Umbrex is pleased to welcome Ashu Dalvi with South Pointe Strategy. Ashu has spent over 15 years as a consultant with various firms, including A.T. Kearney and Booz Allen Hamilton. He loves working on ambiguous problems and has developed and implemented transformational business strategies for tech, transportation, and non-profit clients. Ashu recently founded South Pointe Strategy, a consultancy that helps clients in all sectors build operating models that support their business ambition. Just prior, he was building out the strategy and operations practice for Slalom Consulting in San Francisco.
Ashu lives in San Francisco with his wife, Margia, and their dog, Maizie. In his free time, you can find him playing flag football and intensely watching University of Michigan basketball and football. Ashu’s favorite part of being a consultant is solutioning with peers and clients; he is happy to partner on U.S.-based projects involving strategic planning, operational improvement, and leadership development.
Luiz Zorzella explains why non-strategic projects can be a distraction that get in the way of real strategic work and what you can do about it.
When companies define their strategic priorities, it is common to include in this list items that are not building blocks of the company’s strategic goals. At least directly.
Some of these items are extraneous, pet projects and/or impositions from third-party actors or the result of internal politics and accommodations and at best do not add any value and at worst hinder the strategic agenda.
However, there is another type of priority which, if properly managed, can help you break into a vault full of riches that are unreachable to you right now.
Points covered in this article include:
- Three categories of items
- How to prioritize and implement items
Read the full article, Break into the Strategic Treasure Vault, on the Amquant website.
David A. Fields provides an eight-week plan for an effective strategic planning process that will engage and enthuse your team of consultants for the year ahead.
If you develop an annual plan for your consulting firm, there’s a decent chance you sit down with your senior team and/or advisors for a day or two to hammer out your objectives, strategies and tactics. (If you don’t engage in any strategic planning for your consulting firm then, as the old saying goes, ‘When you don’t know where you’re going, any road could end up in Newark.’) The annual rigmarole requires substantial effort, time, M&Ms and endurance. It’s a chore.
The six steps covered in this article are:
-Report the facts
-Lessons learned and implications
-Revisit vision, values, and mission
-Goals, gaps and objectives
-Strategic Initiatives and Success Metrics
Read the full article, 8 Weeks to Get Juiced – A Better Strategic Planning Process for Consulting Firms, on David’s website.