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Improving Decisions ThroughKnowledge & Perspective
It’s possible, it’s necessary and it’s an advantage.
State of Corporate Decision Making
Only 28% of corporate executives think that good decisions happen regularly in their organization*
*. D. Lovallo and Olivier Sibony, McKinsey Quarterly, “The Case for Behavioral Strategy” http://www.mckinsey.com/insights/ strategy/the_case_for_behavioral_strategy
Missing Knowledge
Capabilities Shortfall
Poor Problem Definition
Internal Biases
Different Decisions Require Different Knowledge
Primary Knowledge
Practical Experience
Tactical MethodsSolution providers & Implementers
What Should it be? Research / EvidenceProblem Framing
Perspective
What can it be? Experience
Best PracticesIndustry Knowledge
What will it be? Experience
Tactical MethodsSolution Knowledge
Industry experts
Researchers
SalesForce, SatMetrix, Accenture, Oracle, IBM
McKinsey, Accenture, IBM, GLG
What is LIFT PhD
LIFT PhD is a network that matches companies that have unique challenges, decisions and issues to business school professors who can provide deep functional expertise – for advice, consulting or executive education.
Penn State, USC, UCLA, NCSU, Yale, Temple, Alabama, Michigan, Columbia……
How to Think of Using LIFT PhD
Outside perspective
Understand options
Access cutting edge thinking
Conduct sophisticated research
Get advanced analyses
Gain new market insights
Think through a difficult challenge
Optimize a decision
Understand best practices
Improve staff capabilities
Pricing
Innovation
Sales
Service
Strategy
Branding
Channels
Digital Marketing
Promotions
Social Media
HOW TO USE WHERE TO USE
A Success Story
2005
2005
2008
2008
3.5 Million
2 Million
• Georgia Aquarium saw declining, then flat attendance• They were unsure how to improve attendance• The aquarium hired professors to unpack the problem• The professors helped discover the most profitable
customers• And they created a media optimization model• A $700k increase in spending helped the aquarium to
exceed revenue targets by $8mm (a 12‐fold ROI)
Attend
ance
10%
Revenu
e
12%
See full HBR article here ‐ https://hbr.org/2015/01/boosting‐demand‐in‐the‐experience‐economy
When to Engage a Professor
When you need…• Functional experts• Problem solvers• People developers• Unbiased perspective• Reasonable pricing
When you need…• Deep industry expertise• A big team• Aggressive time frame
What LIFT Professors Offer
Brief, Focused Insights Extended, Deeper Insights
Conversations
Review & Feedback
Custom Webinar
Research & Analysis
Training & Workshops
Custom Consulting
Important Ongoing Now
Critical Substantial Future
Information Needs
Help Comes in Many Forms – Some Brief
• A CONVERSATION is a call of sixty minutes or less with a professor on a topic defined by the client. The call is intended to assist the client in short bursts –learning, testing hypotheses, getting feedback, or simply seeking outside perspective and guidance.
• REVIEW & FEEDBACK offers a company the opportunity to have a professor review internal documents such as a marketing plan and provide feedback, questions, and recommendations based on deep domain expertise.
• A CUSTOM WEBINAR is created based on cutting edge knowledge to meet a client team’s specific topic objectives. It is designed and delivered remotely by a professor and is typically between sixty and ninety minutes in length.
Brief, Focused Insights
Help Comes in Many Forms – Some Deeper
• RESEARCH & ANALYSIS assistance offered by professors can range from basic research design to execution of interviews, surveys, & experiments to sophisticated integration and analyses of data sets using techniques ranging from frequencies and t‐tests to conjoint analysis and econometric modeling.
• TRAINING & WORKSHOPS of varying lengths are structured events to emphasize some combination of concept understanding, skill development, and decision‐making by one or more client teams.
• CUSTOM CONSULTING is any assistance of an extended duration provided by a professor to address a defined client objective such as how to price a new product, define a market strategy, enhance R&D creativity, or improve the customer experience.
Extended, Deeper Insights
Why Connect via LIFT PhD
• Pre‐qualified professors on expertise & experience • No hassle identifying an interested professor• Easy to find right expert for your challenge• Small and big project possibilities• No cost to evaluate professor options• Great value for exceptional expertise• Service & support focus of LIFT PhD
Contact Information
Email: [email protected]. 844‐LIFTPhDTwitter: @LIFTPhD
www.LIFTPhD.com
Info.LIFTPhD.com/blog