Details

Digital Makeover


Digital Makeover

How L'Oreal Put People First to Build a Beauty Tech Powerhouse
1. Aufl.

von: Béatrice Collin, Marie Taillard

16,99 €

Verlag: Wiley
Format: PDF
Veröffentl.: 17.02.2021
ISBN/EAN: 9781119706083
Sprache: englisch
Anzahl Seiten: 224

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Beschreibungen

<p><b>Get an insider’s perspective into how this 110-year old world leader in beauty built on its legacy to transform itself into a digital and tech powerhouse </b> </p> <p><i>Digital Makeover: How L'Oréal Put People First to Build a Beauty Tech Powerhouse</i> examines L’Oréal’s successful people-driven digital transformation. Professors and authors Beatrice Collin and Marie Taillard set out exactly how L’Oréal turned itself into a digital and tech powerhouse by building on its legacy to reimagine relationships inside the company, and with its customers and partners.</p> <p><i>Digital Makeover</i> comprehensively describes L’Oréal’s strategy, including: </p> <ul> <li>Maintaining market leadership in the face of disruption </li> <li>Believing in the transformative power of the organization, its legacy and its people </li> <li>A social-centric approach to beauty tech, ecommerce and digital services </li> <li>The company’s successful play for market dominance in China </li> <li>Case studies that showcase best practices for digital transformation across sectors </li> </ul> <p><i>Digital Makeover</i> is perfect for anyone interested in business strategy, marketing, or digital transformation, as well as businesspeople and leaders from inside and outside the beauty industry and belongs on the shelves of anyone with an interest in organizational transformation, management, leadership, and digital strategies. </p>
<p>Foreword: Permanent Reinvention in the Genes ix</p> <p>Introduction: Building a Beauty Powerhouse xiii</p> <p><b>Part I Four Foundational Pillars</b><b> 1</b></p> <p><b>1 Orchestrate Creativity </b><b>3</b></p> <p>The Importance of an Evangelist 4</p> <p>Time to Improvise 6</p> <p>From Creative Chaos to Orchestrated Rigor 13</p> <p>Enabling Resonance 16</p> <p><b>2 Cultivate Healthy Doubt</b><b> 21</b></p> <p>Productive Anxiety 22</p> <p>Challenging the Status Quo 23</p> <p>Permanent Questioning 24</p> <p>The Dual Innovation Channel 25</p> <p>Balancing Passion with Science 26</p> <p>Tensions and Achievements 27</p> <p>Market Leader and Challenger 28</p> <p><b>3 Learn and Innovate with Rigor</b><b> 37</b></p> <p>Innovators Are Most Valuable Players 39</p> <p>Do, Undo, and Redo 42</p> <p>Incubators as Promoters of Change 47</p> <p><b>4 Listen with Curiosity</b><b> 51</b></p> <p>Politeness of the Heart 54</p> <p>Seizing What’s Emerging 59</p> <p>L’Oréalization 60</p> <p>Full Color Palette 61</p> <p>Ban the Boring 64</p> <p>An Open Innovation Ecosystem 65</p> <p><b>Part II A Human-Centered Transformation</b><b> 71</b></p> <p><b>5 Centering Customers</b><b> 73</b></p> <p>A Focus Shift 75</p> <p>Precision Marketing 80</p> <p>Seamless Customer Journeys 81</p> <p>The Strategic Use of Data 84</p> <p><b>6 Becoming Social</b><b> 89</b></p> <p>Social Centricity 92</p> <p>Friends Find Solutions 94</p> <p>Friends Give Advice 95</p> <p>Friends Take You Places 96</p> <p>Friends Share Their Looks 97</p> <p>Friends Shop with You 98</p> <p>Friends Stick Together 100</p> <p><b>7 Transforming Relationships with Partners</b><b> 105</b></p> <p>From a Chain to an Ecosystem 106</p> <p>Ecosystems’ Key Attributes 108</p> <p>Ecosystems Perform in Times of Crisis 114</p> <p><b>8 Putting People First</b><b> 119</b></p> <p>Teams Are the New Heroes 122</p> <p>Customer Satisfaction Is the New Product Performance 124</p> <p>Eat What You Cook Is the New Leave Before It Burns 125</p> <p>Frame and Trust Is the New Control 128</p> <p>Problem-Solving Together Is the New Meeting Behavior 130</p> <p>Empowerment Is the New Management 132</p> <p>Test and Learn Is the New Perfection 133</p> <p>Cooperation Is the New Confrontation 135</p> <p>Conclusion 139</p> <p>Acknowledgments 143</p> <p>About the Authors 147</p> <p>Appendix 1: L’Oréal’s History: A Timeline of Significant Dates 151</p> <p>Appendix 2: Timeline of L’Oréal’s Acquisitions and Strategies 153</p> <p>Appendix 3: A Selection of L’Oréal Brands by Category 2020 159</p> <p>Appendix 4: Global Beauty Industry Data 161</p> <p>Notes 167</p> <p>References 175</p> <p>Index 183 </p>
<p><b>BÉATRICE COLLIN</b> is Professor of Strategy and International Management at ESCP Business School. Her research focuses on digital innovation and transformation, and she is recognized as a leading global expert on L’Oréal.</p> <p><b> MARIE TAILLARD</b> is Professor of Marketing at ESCP Business School. She has over thirty years of experience supporting small and large companies worldwide and teaches across continents in graduate and executive learning programs. Her research focuses on digital transformation and customer centricity.
<p>LEARN HOW <b>L’ORÉAL</b> ACHIEVED <b>DIGITAL DOMINANCE</b> WHERE SO MANY OTHERS FAILED</p> <p>The push for digital transformation is one that remains fraught with unpredictability and risk. Only a quarter of corporate digital transformations in the last five years have resulted in lasting performance improvement. But L’Oréal succeeded where so many others had been disappointed, by relying heavily on finding a natural place for people—their customers, employees, and partners—at the very heart of their digital enterprise. <p>Organized around illuminating case studies, <i>Digital Makeover</i> tells the fascinating story of a beauty company that embraced all manners of digital channels and tools, including e-commerce, virtual reality, artificial intelligence, influencer marketing, and programmatic advertising, without allowing its transformative digital disruption to interfere with its market dominance. The book also discusses how L’Oréal achieved its uncontested leadership in the most digitally innovative market of them all, China. <p>The distinguished authors discuss how L’Oréal maintained its market leadership in the face of digital disruption and leveraged their organizational and cultural assets to help find a place for digital technology in every part of their organization. <p>Ideal for executives, strategists, marketing and brand professionals, and other businesspeople hoping to understand the digital mindset, <i>Digital Makeover</i> is also an invaluable resource for academics, researchers, business historians, and management students seeking insights into digital transformation in any industry.

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