Sunday, July 31, 2005

What makes QFRCM methodology truly innovative?

Before answering at this question, we suggest to start our analysis with the definition of innovation concept, and examine what should be the fundamentals principles what our methodology should have in order to pretend to be innovative.If we retain the definition given by the US department of commerce in 1967:

Innovation = theoretical conception + technical invention + commercial exploitation

Innovation is a symbiosis of three components, which must exist, and combine in the right place, at the right moment. The place could be the team. The moment corresponds to the time when people inside the group succeed to put together their ideas, their knowledge as in a puzzle.

Theoretical conception or capacity to modelize abstract ideas is not necessary the researchers’ ownership. Having an important R&D department, where work the most prestigious scientists, is a way to find but not necessary the guarantee of success. History showed that the most famous innovation originate from random, and chaos. It means that the individual living and dealing in one context could have suddenly the idea revolutionizing his life and environment. The freedom for thinking and creating are the drivers of innovation, and innovation usually happens when people expect it the least.

The originality of QF-CRM concept lies in the fact of having successfully gathered together different business disciplines. Indeed, we use knowledge and information related to Finance, Marketing, CRM, Strategy, Human Resources and Statistics.Results obtained, using QF-CRM methodology, are eloquent, as Jack Zimmerman, the Senior Vice President of the Current Analysis Europe, commented “The work and insights presented were outstanding”.

When we elaborated the QF-CRM methodology, we haven’t only used the data supplied by our clients and coming from one area, but we continually verified results, using knowledge from others business disciplines. In other words, marketing analysis of the company activities allowed us to build a marketing strategy. Financial analysis gave us the possibility to build a financial strategy, etc. If we consider independently each of these strategies, we obtain as many strategies as disciplines, and the main difficulty is to make them match each others. We could imagine what can be difficulties for General Directors to choose THE STRATEGY. The problem lies in the fact that many companies have been obliged to divide their activities into divisions, which are often not enough coordinated between themselves.

We are deeply convinced today that our methodology allows avoiding these pitfalls, in so far as we could reconcile different point of view appearing in the company. The convergence of qualitative and quantitative results is a good illustration of that.
The next time, I will tackle the rules of financial analysis in QF-CRM-methodology.
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