Internet of Things (IoT) as Servitization

What is IoT? The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. A “thing” in the IoT can be a person with a heart monitor implant, a farm animal with a biochip transponder, an automobile that has built-in sensors to alert the driver when tire pressure is low or any other natural or man-made object that can be assigned an Internet Protocol (IP) address and is able to transfer data…
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Estonian e-Residency Kit Unboxing, how does it look like?

Estonian e-Residency Kit Unboxing, how does it look like?

Are you excited about the idea of establishing a company in Estonia or making transactions inside the European Union? Before we decide which kind of company it should be, we have to apply for its e-Residency program to become this card (which to make things clear, it is not an identification card). Once we are accepted, we will get the Estonian e-Residency kit to be picked up at an embassy or at a pickup location. Let's take a look at the unboxing of this kit and what is brings with. Background, what is an Estonian e-Residency? Estonian e-Residency is a…
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New Product Development: an Orange Squeezer

New Product Development: an Orange Squeezer

We know the block of creating a something from scratch: we do we even start!? Without the proper planning and thinking, we could get lost with ease or take too much time into finding the perfect idea, moment or match. That is why to succeed with a new product development, we have to go to a process from taking the original idea into pitching the project for investing and selling. This blog post is about how a manual orange squeezer, a project for the university, was conceptualised until it became a more solid business model. Preliminary Concepts Is there a…
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How to Pitch your Project: Do NOT sell Ideas

How to Pitch your Project: Do NOT sell Ideas

This post is a summary of what not to do when we are looking for validation for our idea. To learn how to pitch a potential business opportunity, it is crucial to think in how we are going to convince how it is going to get clients instead of remaining as just as another good idea to store it in a shelf. It is not what you can get Ask not what you can get. Ask what do they need. Ask how you can give. If you are like a "wannabe" entrepreneur, you would be trying to be interesting all…
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Control Systems for Business and Decision Support

Control Systems for Business and Decision Support

Decisions in business are better taken with evidence, data and notion about the risks and opportunities involved. Period. There is no workaround for this. Control systems in our business helps see and appreciate options that makes us aware what is going on, both in our internal and external environment. Let's read about this topic and how we can apply to our work. Evolution of Computerised Decision Support to Analytics Evolution of computerised Decision Support to Analytics. Respectfully borrowed from Sharda et al., 2018. The focus we have today on analytics and data science has deep roots in the past century…
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Change management how to approach to solutions

Change management how to approach to solutions

Everything is in constant change, particularly the external environment of the companies which is constantly and rapidly changing. Understand and predicting change is difficult and sometimes almost impossible. So, how do we have an effective change management? Nevertheless, being able to manage change is key. Industry/product life cycle Industry/product life cycle. Respectfully borrowed from Grant, 2018 As you recall from the corporate strategies section, the product life cycle is linked with the growth rate and sales and is key to decide when there is a need to redefine strategy. As products have life cycles, the same logic can be applied…
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First Steps of your new Estonian e-Residency

First Steps of your new Estonian e-Residency

What to do after you have received your Estonian e-Residency digital identity card? In this short post, let's review which first steps do we have to do with your new electronic identity card, like downloading the proper software, reading the card with your computer and forwarding important e-mail newsletter from the Estonian state. Let's start. Download the Software ID.ee is the website where all things related with your e-Residency digital identity card software is located. In your browser go to ID download center to find the proper app for your operating system. DigiDoc4 Client It is an app that you…
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Strategic control

Strategic control

Once a strategy is selected it is crucial to control for its proper implementation and detect problems. Strategic control fulfills this role and can be defined as: concerned with tracking a strategy as it is being implemented, detecting problems or changes in its underlying premises, and making necessary adjustments (Pearce at al., 2009). Strategic control differs from operational control (taken at functional or business levels) as the second deals with day-to-day activities and the achievement of objectives. For example, if a factory is experiencing a high level of defects in production, the operational control might take measures as retrain the employees and…
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Innovation Management

Innovation Management

Innovation is closely linked to competitive advantage as the search for competitive advantage stimulates innovation. At this stage it is important to clarify two concepts according to Grant, 2018: (1) invention: is the creation of new products and processes through the development of new knowledge or from new combinations of existing knowledge. Most inventions are the result of novel applications of existing knowledge; (2) innovation: is the initial commercialization of an invention or an idea in the form of a new product or process. Innovation might result from a single invention (i.e.: pharmaceutical drugs) or it might be the combination of several inventions (i.e.:…
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Corporate Social Responsibilities (CSR) and Ethics

Corporate Social Responsibilities (CSR) and Ethics

The main purpose of a company is to be profitable and satisfy its shareholders. However, business must be done in a sustainable and responsible way. Companies should be responsible for their actions and develop their business according to standards which allow them to thrive respecting all the stakeholders and the environment. For example, a company should be responsible to produce their goods in the most environmentally friendly way possible, to assure the future of our planet. What is CSR? Having these ideas in mind, the concept of Corporate Social Responsibility appeared: Corporate Social Responsibility (CSR) refers to the awareness, acceptance and…
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