{"id":1855,"date":"2021-07-30T11:41:41","date_gmt":"2021-07-30T10:41:41","guid":{"rendered":"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/?p=1855"},"modified":"2021-07-30T11:49:52","modified_gmt":"2021-07-30T10:49:52","slug":"thought-for-the-week-y-is-for-the-yin-yang-of-business","status":"publish","type":"post","link":"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/2021\/07\/30\/thought-for-the-week-y-is-for-the-yin-yang-of-business\/","title":{"rendered":"Thought for the Week &#8211; Y is for \u201cThe Yin &#038; Yang of Business\u201d"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1857\" data-permalink=\"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/2021\/07\/30\/thought-for-the-week-y-is-for-the-yin-yang-of-business\/y\/\" data-orig-file=\"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-content\/uploads\/2021\/07\/Y.png\" data-orig-size=\"296,153\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Y\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-content\/uploads\/2021\/07\/Y.png\" class=\"alignnone wp-image-1857 alignleft\" src=\"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-content\/uploads\/2021\/07\/Y.png\" alt=\"\" width=\"307\" height=\"158\" \/><\/p>\n<p>So, we are approaching the end of the A to Z of Successful Business Owners and Leaders and this week is all about <strong>\u201cThe Yin &amp; Yang of Business\u201d<\/strong><\/p>\n<p>The humble letter \u201cY\u201d originated as the twentieth letter of the Greek alphabet,\u00a0<em>upsilon<\/em>, which was adopted into the Latin alphabet around 2,000 years ago to represent the \u201c<em>y<\/em>\u201d sound.<\/p>\n<p>To speakers of romance languages, like French and Spanish, this \u201c<em>y<\/em>\u201d sound was new. And as a Germanic language, English already had a \u201cy\u201d sound, and so \u201cY\u201d quickly found a home for itself at the tail end of our alphabet, although it has never been commonly used.<\/p>\n<p>When it comes to business success, an obvious \u201cY\u201d word could of course be something like \u201cYield\u201d!<\/p>\n<p>However, I am going to talk about <strong>Yin and Yang in Business<\/strong> as it is more unusual for us to consider this.<\/p>\n<p>If you are familiar with Yin and Yang, you will know that \u2026<\/p>\n<p><strong>Yin<\/strong> represents the female energy force in all we do, and<\/p>\n<p><strong>Yang<\/strong> represents the male energy force.<\/p>\n<p>You will have seen the Yin &amp; Yang symbol representing the balance between the two that exists in our World.<\/p>\n<p>We know that everything comes down to balance at the end of the day;<\/p>\n<ul>\n<li>balancing the books,<\/li>\n<li>balancing our energy reserves,<\/li>\n<li>work-life balance, etc.<\/li>\n<\/ul>\n<p>So, let\u2019s dive in and have a look at how this can help us to succeed in business \u2026<\/p>\n<p><strong style=\"font-family: var(--font-base, 'IBM Plex Sans', -apple-system, BlinkMacSystemFont, 'Segoe UI', 'Roboto', 'Oxygen', 'Ubuntu', 'Cantarell', 'Fira Sans', 'Droid Sans', 'Helvetica Neue', sans-serif);\">Strategic Management:<\/strong><\/p>\n<p><strong><em>YIN:<\/em><\/strong> Looks at your business from the Outside-In, and works towards satisfying the needs of all stakeholders. Practice customer-driven innovation.<\/p>\n<p><em>Yin <\/em>is more passive and accepting and about <strong>Outside-In Strategies:<\/strong><\/p>\n<p>Strategic analysis of the of the industries and markets in which your company operates to identify those markets in which your company\u2019s capabilities can yield, leading to a <strong>Sustainable Competitive Advantage<\/strong>.<\/p>\n<p><strong><em>YANG<\/em><\/strong><em>:\u00a0<\/em>Looks at <a href=\"http:\/\/www.1000ventures.com\/business_guide\/crosscuttings\/competition_standout.html\">STANDING-OUT<\/a>\u00a0from the competition, gaining customers, creating, formulating and implementing ventures.<\/p>\n<p><strong><em>YANG<\/em><\/strong> is more active and aggressive and about<strong> Inside-Out Strategies:<\/strong><strong>\u00a0<\/strong><\/p>\n<p>Strategic analysis of the characteristic of your company to identify your <strong>Distinctive Corporate Capabilities<\/strong> (<em>capabilities that help your company\u00a0<\/em><a href=\"http:\/\/www.1000ventures.com\/business_guide\/crosscuttings\/competition_standout.html\"><em>STAND OUT<\/em><\/a> <em>from its competition and sell distinctive differences in the market in which it operates).<\/em><em>\u00a0<\/em><\/p>\n<p>Your distinctive capabilities \u2013 the characteristics of your company which cannot be replicated by competitors, or can only be replicated with great difficulty \u2013 are the basis of your <strong>Sustainable Competitive Advantage.<\/strong><\/p>\n<p>According to the\u00a0<a href=\"http:\/\/www.1000ventures.com\/business_guide\/mgmt_stategic_resource-based.html\">resource-based view<\/a>\u00a0of the company, sustainable competitive advantage is achieved by continuously developing existing and creating new resources and capabilities in response to rapidly changing market conditions.<\/p>\n<p>For example, distinctive capabilities may include things like \u2026<\/p>\n<p>Patents, exclusive licenses, strong brands\u00a0that lead to effective leadership, team work \/ tacit knowledge.<\/p>\n<p><strong>Reproducible Capabilities<\/strong> are those that can be bought or created by your competitors and thus by themselves cannot be a source of competitive advantage. Many technical, financial and marketing capabilities are of this kind.<\/p>\n<p>Your distinctive capabilities need to be supported by an appropriate set of complementary reproducible capabilities to enable your company to sell its distinctive capabilities in the market it operates.<\/p>\n<p><strong>Balanced Management:<\/strong><\/p>\n<p>Effective Leadership demands a delicate balance between \u2026<\/p>\n<ul>\n<li>Sensitivity and authority.<\/li>\n<li>Loose and tight leadership style.<\/li>\n<li>Internal and external.<\/li>\n<li>Tradition and innovation to achieve sustainable growth and employee satisfaction.<\/li>\n<\/ul>\n<p>Look at your business from outside-in as well as inside-out and ask these questions relentlessly: &#8211;<\/p>\n<ul>\n<li>What&#8217;s happening in the marketplace?<\/li>\n<li>How are the needs changing? What&#8217;s causing the changes?<\/li>\n<li>Where are the resulting opportunities?<\/li>\n<\/ul>\n<p>Having answered the above questions, work backwards: &#8211;<\/p>\n<ul>\n<li>What needs do we satisfy now? What need could we satisfy now? In future?<\/li>\n<li>What&#8217;s the gap between them and what we do now, and how to bridge it?<\/li>\n<li>What advantages and capabilities do we need to strengthen or create? What old competencies should we deemphasize?<\/li>\n<\/ul>\n<p>So, coming back to Yin and Yang \u2026<\/p>\n<p><strong>YIN:<\/strong> Practice <strong>Customer-Driven Innovation<\/strong><\/p>\n<p><strong>YANG:<\/strong> Create Curiosity and Surprise to exceed expectations. Manage change and innovation proactively.<\/p>\n<p>I hope you have enjoyed this \u201cThought for the Week\u201d!<\/p>\n<p>And if you haven\u2019t already, remember that I would love to help you to explore your aspirations and create a roadmap to success with you.<\/p>\n<p>You can book your\u00a0<a href=\"https:\/\/calendly.com\/korinne\/30min\"><strong>Free Clarity Session<\/strong><\/a><strong>\u00a0<\/strong>and there is absolutely<em>\u00a0no obligation<\/em>\u00a0and we can meet via Zoom or Skype.<\/p>\n<p>Have a great week and very best wishes for your success!<\/p>\n<p><em><strong>Korinne<\/strong><\/em><\/p>\n<p><a href=\"https:\/\/app.mastermind.com\/masterminds\/19934\">Find out more about \u201cThe A to Z\u2019s of Success\u201d<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>So, we are approaching the end of the A to Z of Successful Business Owners and Leaders and this week is all about \u201cThe Yin &amp; Yang of Business\u201d The humble letter \u201cY\u201d originated as the twentieth letter of the Greek alphabet,\u00a0upsilon, which was adopted into the Latin alphabet around 2,000 years ago to represent&#8230;<\/p>\n","protected":false},"author":176728601,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[97],"tags":[],"class_list":["post-1855","post","type-post","status-publish","format-standard","hentry","category-uncategorised"],"jetpack_featured_media_url":"","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pgKEDA-tV","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-json\/wp\/v2\/posts\/1855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-json\/wp\/v2\/users\/176728601"}],"replies":[{"embeddable":true,"href":"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-json\/wp\/v2\/comments?post=1855"}],"version-history":[{"count":9,"href":"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-json\/wp\/v2\/posts\/1855\/revisions"}],"predecessor-version":[{"id":1865,"href":"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-json\/wp\/v2\/posts\/1855\/revisions\/1865"}],"wp:attachment":[{"href":"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-json\/wp\/v2\/media?parent=1855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-json\/wp\/v2\/categories?post=1855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thrive-coaching.biz\/test.thrive-coaching.biz\/wp-json\/wp\/v2\/tags?post=1855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}