Issue 36 Spring 2014

News

UK marketing leaders are being left behind when it comes to expanding into new markets, according to Cranfield’s annual marketing leaders’ survey. The 2014 results revealed a lack of focus among UK marketers on innovation and rapidly growing economies. Dr Stan Maklan, Director of the Marketing Directors Programme at Cranfield said: “Across the marketing profession there is great emphasis being placed on new media and technology. I am concerned that marketing’s framework has become overly media centric, particularly in the UK, where we are seeing a lack of focus from the marketing profession on expanding in the BRIC and ‘Next 11’ economies and breakthrough innovations.” UK marketers are overlooking growth markets

RESEARCH

How to avoid a crisis Companies that create a culture of resilience throughout their organisation can avoid potential crisis and are likely to be more successful in the long term, according to new research by Cranfield and Airmic, the association for risk management. In the ‘Roads to Resilience’ report, the Cranfield authors urge boards and business leaders to challenge their current attitudes towards risk management and recognise that it should be a strategic priority and not just an operational or compliance issue. Commenting on the findings, report co-author Professor Keith Goffin said: “All industries are now facing unprecedented levels of risk that have real potential for harming their reputations and balance sheets. By bringing together the insights and experiences of those who have succeeded, this report challenges businesses to take the necessary actions to achieve resilience.” Read more about this research in an article by the report’s authors Professor Keith Goffin (pictured top left), Dr Elmar Kutsch (bottom left) and Professor Marek Szwejczewski (bottom right) on page 26.

BOOKS Real-world marketing

The social intrapreneur

Professor Paul Baines’ book Marketing (Third Edition) includes a CD of video interviews with marketers from well- known organisations including Orange, Virgin marketing problems are approached and solved in the real world. The book also explores the latest developments in digital marketing and social media. Media and Oxfam who discuss how Dr Tazeeb Rajwani’s book Aligning for Advantage: Competitive Strategies for the Political and Social Arenas explores how to take a strategic management approach when engaging with political, regulatory and social arenas and interests. It includes frameworks on how to design and implement aligned strategies in a climate of complexity and uncertainty.

Professor David Grayson’s latest book Social Intrapreneurism and All That Jazz applies the metaphors of jazz to reveal how social intrapreneurs are harnessing the power of large companies to address societal problems. The book identifies the mind-sets and skills that have helped social intrapreneurs to be successful in changing business for the better.

Review of the UK motorsport industry

Professor Mark Jenkins played a key role in a recent study commissioned by the Motorsport Industry Association (MIA), which revealed that the motorsport sector achieved sales of £9 billion in 2012, making it one of the most crucial contributors to the UK economy. The study, which was supported by UK Trade and Investment (UKTI) and the Department for Business Innovation and Skills (BIS), revealed that there are now 4,300 businesses in the UK that owe their existence to motorsport, accounting for nearly 41,000 jobs. Professor Mark Jenkins commented: “This study underlines that the UK is a global leader in this specialist area. It has demonstrated strong growth since 2009, and provides a unique capability that is adding value in areas such as low carbon technologies and sectors such as automotive, aerospace and defence.”

Aligning for advantage

From selling to co-creating Dr Javier Marcos’ book From Selling to

Co-Creating identifies the current and future trends in sales and explores ways that sales forces can engage with their customers at a strategic level to develop new, innovative products and services to stay ahead of the competition. The book provides frameworks and tools for transforming and designing future-proof sales organisations.

Business Minister Michael Fallon said: “Our motorsport industry represents some of the best of British talent and ingenuity and it is imperative that we provide the right conditions so it continues to thrive. That is why we are investing £1 billion jointly with industry to ensure companies across the automotive sector have the support they need to develop the technologies of the future.”

06 Management Focus

Management Focus 07