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Beginning to See the Light - Universities Adapt

"American universities are exiting a period of denial to grasp that they must remake themselves, beginning by understanding their place in society."

Go to the 30 minutes mark in to hear a 5 minute forecast by Huron [Consulting] managing director, Education leader, Edwin Eisendrath. 

__________________
   
Today there is disequilibrium. Once a few universities get it right..it will be very exciting.

    

__________________


Excerpts (not in order):

American universities are ...making their operations more efficient, deferring capital expenditures, and professionalizing management.

    

Faculty needs support.  Smart administrations are building easy to travel roads that faculty can use.

   

Universities are beginning to challenge publish or perish with new incentives, annual review on tenure process, social incentives for faculty - social networks that are institution based rather than discipline based.
    
Today there is disequilibrium. Once a few universities get it right..it will be very exciting.

 

Other excerpts:
Examples of turbulence: President Teresa Sullivan - formerly provost of the University of Michigan, at University of Virginia - hired, fired, rehired.


Good news, Universities are figuring this out. The University of Michigan is beginning to prepare for the public engagement for how to reach out and listen.

     

Questions for universities & colleges what’s changing:

  • Vision (markets, values, direction, needs), 
  • Incentives, support, 
  • Governance
  • Direction of money
  • Capacity to compete
  • National identity, context for the place of universities in society - role will need to be different
  • New or alternative paths to employment:


“A paper on King Lear may lead somewhere, unlike the

rather far-fetched play of the same name. It may be

a stepping-stone to the Local Government Board.

…As long as learning is connected with earning,

as long as certain jobs can only be reached

through exams, [and we]…we take the

examination system seriously.

If another ladder to employment were contrived,

much so-called education would disappear,

and no one be a penny the stupider.”

                                

                                         ~ E.M. Forster, Aspects of a Novel


Related tools from Deb:

               

 


Deb Nystrom, REVELN's insight:

This consulting firm director shares examples of how higher education, using technology tools for efficiencies & re-examining how the environment has dramatically changed, is adapting and experimenting with new approaches, now.

     


Examples include:  
     

  • Rethinking publish or perish for faculty, and faculty support

     

  • Administrative  collaboration with FERPA (Family Educational Rights and Privacy Act) and
        
  • Georgetown, Washington, DC - Offers short courses on how policy gets made, with government leaders. 

         

  • Governor of Wisconsin - with its high unemployment rate, is exploring college credits and competencies to build a system that is competency based to help Wisconsin residents get credit for learning and access further online education.

~  D
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Zappos is going Holacratic: No Job Titles, No Managers, No Hierarchy

Zappos is going Holacratic: No Job Titles, No Managers, No Hierarchy | Change Leadership Watch | Scoop.it

“Zappos’ focus on core values and culture has done a remarkably good job of getting around the limits of a conventional corporate structure.” .....“Leaders that already understand the limits of conventional structures are the ones that are attracted to Holacracy.”


__________________
    
“Leaders that already understand the limits of conventional structures are the ones that are attracted to Holacracy.”

       
__________________


CEOs who sign on to Holacracy agree to cede some level of power*. The advantage is that they get to view their company through an entirely different lens. But it’s an adjustment for both leaders and employees. Zappos, which has 1,500 employees, will be the largest company to date to implement Holacracy.


DN:  My contention is hierarchical & autocratic power has natural limits anyway. 


From a recent Forbes article:


…E-commerce retailers like Zappos to tech companies like Valve (famous for having no bosses) to manufacturers like W.L. Gore (famous for democratically electing its CEO), flat organizations are prospering.“There is a growing body of evidence that shows organizations with flat structures outperform those with more traditional hierarchies in most situations,” wrote Tim Kastelle in the Harvard Business Review.


Flat structures work best when a company’s main point of differentiation is innovation, said Kastelle. They also work well when teams need to be more nimble to respond to a rapidly changing environment, and when the organization has a shared purpose, he added.


…Digital and mobile technologies make it easier for employees to work in a distributed manner, wrote Kastelle.


ANOTHER Forbes article provides a counterpoint,  by a former Wall Street Journal writer, is entitled:   Gurus Gone Wild: Does Zappos' Reorganization Make Any Sense?   He quotes another blogger, William Tincup, who lists 6 problems with Holacracy.


Here are four of them in a nutshell:


  • Holacracy seems to be a scheme that’s built for growth, upmarket, happy times


  • People that will thrive in this system will be: (1) people that have a problem with authority, (2) people that can consume ambiguity, and (3) independent thinkers and doers. ...They will argue that it’s an efficient system, a lean system, and it will be at the expense of diversity. 

    

  • Holacracy [is a] value system. Kind of seems cultish, right? 
    
  • How will it scale?    Holacracy is a paper napkin idea that might best fit less than 1% of the companies in America.


Related posts & tools by Deb:


      

            

         

Deb Nystrom, REVELN's insight:

Zappos is known for its zany corporate culture based on 10 core values, innovative/ alternative work environment, and for legendary customer service.  Now Zappos may become known for breaking the hierarchy barriers to how innovative companies are structured and function.  We'll soon find out if it will scale in the bigger organization that is Zappos.


Flatter, social circle organization seems fully in line with the 10 core values of Zappos.  Overall, their great success can has been attributed to many things, incuding a clear, compelling vision of who and what they are and are not, including "It’s Not about Shoes." 

  • "Zappos is a customer service company that just happens to sell shoes.” -Tony Hsieh


In the same way, Coca-Cola is about entertainment, not sugar-water. Zappos now has legendary customer service stories included in books - such as the one about delivering flowers to a customer whose mom passed away.  Another one is about a Zappos rep talking to a customer for over 8 hours (a record that now has been broken.)


As an example, General Motors has adopted a teams approach in some of its plants, yet moves slowly as large multi-national.  Enter the new team oriented, from the ranks GM CEO Mary Barra.  The times, they are a changing!

Zappos has none of the history of hierarchy and the silo creating 1920's scientific management connected older manufacturing practices, to hold it back.


Welcome to a new view of leadership, 2014 style.  Now, we'll see if it will scale.    ~  D

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Kudos's curator insight, January 11, 2014 4:36 PM

An interesting experiment. The fine line between madness and genious. Can people handle it. Time will tell. 

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A Change Leader Profile: 3 Ways to Define it

A Change Leader Profile:  3 Ways to Define it | Change Leadership Watch | Scoop.it

Look for five key competencies - drawn from..." a change-agent profile [based on]... extensive data on Fortune 1000 executives across a wide spectrum of industries. 


We’ve discovered... in that senior group:

    

  • They’re somewhat rare. Approximately 20 percent of senior executives scored high on five key competencies that correlate with effective change management.
   
  • Executives with those five competencies are more task-oriented than people-oriented.
    
  • They also appear to be motivated most by achievement. Power is a close second.
    

And here’s how we arrived at those high-level findings.


We analyzed competencies  ...we’ve identified the following strengths as key indicators of effective change management:

   

  1. Demonstrates flexibility and resilience. 
  2. Recognizes growth opportunities
  3. Strives for results. Focuses on improving performance.
  4. Leads courageously.  
  5. Gains buy-in.  



    Deb Nystrom, REVELN's insight:

    This post also connects DISC profile behaviors such as driving and impact, along with values such as achievement and power to those who lead the pack in effective change leader success.   ~  D

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    Why GM’s Mary Barra Got the CEO Job

    Why GM’s Mary Barra Got the CEO Job | Change Leadership Watch | Scoop.it

    Barra will become GM’s fifth CEO in less than five years. She now has the opportunity to prove that a GM-lifer can indeed force radical and lasting changes at the automaker. If she can push departments to revamp and think progressively, she will surely be labeled as a transformational CEO.

    She has experience in every facet of the organization including European operations and successful product launches including the Cadillac ATS, CTS, and Chevrolet’s Stingray and Malibu.

    Automotive sales are continuing to rebound and hit levels that we haven’t seen since 2007 but competition is stiff. Product is king and Barra’s latest post proves she has the chops to propel GM forward.


    Related posts & tools by Deb:



    Deb Nystrom, REVELN's insight:

    How will it work out for a new leader?   Time will tell, quickly, if JCPenny is any indication.  A gender-less look at revamping a hide-bound traditional organization could be useful.  GM was the learning lab for the legendary late Peter Drucker.  He knew was was and wasn't working in multi-national corporations back in the day.  ~  D

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    H&M Promises to Pay a 'Living Wage' by 2018

    H&M Promises to Pay a 'Living Wage' by 2018 | Change Leadership Watch | Scoop.it
    Swedish clothing retailer H&M on Monday said it is developing a plan to ensure about 850,000 textile workers earn a "living wage" by 2018.


    Hennes & Mauritz, the world's second-largest clothing retailer, said it will begin its pay strategy with three factories -- two in Bangladesh and one in Cambodia -- by 2014. The plan involves improving its purchasing practices to ensure its suppliers pay workers the true cost of labor, the company said. 


    By 2018, H&M said it plans to raise wages at 750 of its suppliers, which make 60% of the company's goods.


    Related posts & tools by Deb:




    Deb Nystrom, REVELN's insight:

    News indeed!  This is from the first-ever Living Wage in International Supply Chains conference.  It would be even better if they can achieve this ahead of schedule.  


    Just the announcement could make a change in the livlihood of millions, just based on where people shop.  ~  Deb

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    Creativity & Freedom in the Class of 2013 - MacArthur Foundation

    Creativity & Freedom in the Class of 2013 - MacArthur Foundation | Change Leadership Watch | Scoop.it

    MacArthur named its 2013 class of MacArthur Fellows, recognizing 24 exceptionally creative individuals with a track record of achievement and the potential for even more significant contributions in the future.


    “This year’s class of MacArthur Fellows is an extraordinary group of individuals who collectively reflect the breadth and depth of American creativity,” said Cecilia Conrad, Vice President, MacArthur Fellows Program.


    _____________________________
            
    They are artists, social innovators, scientists, and humanists who are working to improve the human condition... 

          

    _____________________________
     
    Fellows each receive a no-strings-attached stipend of $625,000 paid out over five years. The Fellowship provides maximum freedom for recipients to follow their own creative vision.


    “They are artists, social innovators, scientists, and humanists who are working to improve the human condition and to preserve and sustain our natural and cultural heritage. Their stories should inspire each of us to consider our own potential to contribute our talents for the betterment of humankind.”


    - See more at: http://www.macfound.org/press/press-releases/24-macarthur-fellows-announced/#sthash.KF8jZVd4.dpuf

    Deb Nystrom, REVELN's insight:

    Creativity can be in short supply in business today.  This famed award allows for expansive thinking and doing.  

    It's also extraordinary to receive stipends with no strings attached, for not just STEM, but STEAM, Science, Technology, Engineering, the ARTS and Humanities, and Math.  


    ~  D

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    An Uncommonly Cohesive Conglomerate: The Story of UTC’s Success

    An Uncommonly Cohesive Conglomerate:  The Story of UTC’s Success | Change Leadership Watch | Scoop.it

    How United Technologies Corporation—owner of Pratt & Whitney, Otis Elevator, and a wide range of other businesses—became one of the major corporate success stories of the past two decades.


    The year was 1986. Matsushita’s recently completed Osaka headquarters had …the latest Otis elevators, which were repeatedly failing. …Matsushita and Otis had formed a joint venture …the Otis failure rates were damaging Matsushita’s reputation.


        

    _______________________________ 

       
         

    ..this shift ...would eventually turn UTC into the highest-performing Fortune 50 company (2000 - 2011) 

        
    ___________________________ 



    In [a] conference room, Matsushita’s managers insisted on talking about root causes—a central concept in quality management, less familiar in the West. …the field engineers placed a hurried call to headquarters that reached George David…the Otis president [who] listened intently. During the next few months, he did something uncharacteristic for Otis—and s…for the rest of UTC and most manufacturing companies. David asked Ito and others at Matsushita for help.



    Over the next two decades, David and Ito would become so close that he would eventually say Ito was like “a second father” to him.



    The story of that phone call and its aftermath is retold regularly throughout UTC, as one of several incidents that marked the beginning of a fundamental shift in attitude and practice. ...this shift would affect virtually all of United Technologies Corporation’s managers, employees, corporate partners, suppliers, and customers.  It would eventually turn UTC into the highest-performing Fortune 50 company (in the years from 2000 to 2011) and one of the very few conglomerates to sustain a successful diversified enterprise (see Exhibit 1).

     

    Deb Nystrom, REVELN's insight:

    Getting to the root cause of quality problems, a classic Total Quality Management artifact of the 90s, is important to UTC's leadership success today.  What is your take-away from this case study?   ~  Deb

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    The "Instant Referendum" That's Undermining Your Leadership

    The "Instant Referendum" That's Undermining Your Leadership | Change Leadership Watch | Scoop.it

    Outgoing New York City Mayor Michael Bloomberg knows more than a thing or two about running huge, complicated organizations and digital media.

    The water cooler hasn't vanished; it's simply become virtual, transported into the cloud. What's fundamentally different, of course, is the new speed and scalability of sentiment.  


    ....In instant referenda environments, being likable and/or highly competent counts for a lot. Leaders and managers want to be seen as either nice or credible enough to get the benefit of the doubt for a difficult decision or a controversial choice. Being more accessible or responsive can help. Similarly, so might "information inoculation" strategies and tactics where — like with a good vaccine — people get exposed to just enough of the decision or conflict to prevent uncontrollable outbreaks of negative sentiment.



    Deb Nystrom, REVELN's insight:

    Being social media savvy iand sentiment savvy s becoming more iimportant for leadership.   - D

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    John Michel's curator insight, October 23, 2013 8:55 AM

    Managing — or at least influencing — information cascades will become one of the core communications competencies of top-level executives.

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    Ready to Challenge Caution & Risk? Focus Limits Firms Owned by Women

    Ready to Challenge Caution & Risk?  Focus Limits Firms Owned by Women | Change Leadership Watch | Scoop.it

    If women start more companies than men, why do so many more of those companies stay small? Caution, lack of the right kind of networks and a focus on income generation rather than wealth generation seem to be key factors.


    Excerpts:

    ...economic conditions don't explain why woman-owned businesses, regardless of location, tend to grow more slowly and plateau sooner than those owned by men, said Jeff Bergeron, managing partner in Ernst & Young's Detroit office. 


    _________________________________
     

    ...lack of access to capital is a primary hindrance to many woman-owned businesses.

    _________________________________
     

    ...Paula Sorrell, managing director of entrepreneurial services for the Michigan Economic Development Corp., said lack of access to capital is a primary hindrance to many woman-owned businesses.

    "Everybody is treated the same when they come to the state for assistance," she said. "Where there is a gap is in private equity funding for woman-owned businesses. Generally, this is because most private equity is run by men." 

    However, the gap is starting to be at least partly addressed in Michigan, Sorrell said. 

    Deb Nystrom, REVELN's insight:

    There seems to be a line to be crossed by women-owned firms who want to size up to be successful.  There are layers of lessons here about risk, caution, structure, family and more.

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    Your Team Can Smell a Rat

    Your Team Can Smell a Rat | Change Leadership Watch | Scoop.it

    "Let’s call him Frank.He seemed so sincere, so talented, so driven. When I met him on a business trip—my former CEO and I—I liked him right away. ...Seemed like a great fit."


    The CEO and I didn’t listen to our subject matter experts. We thought we knew better.


    Frank was a disaster. He one of the most self-absorbed and devious people I’ve ever worked with. Because of the benevolent nature of our organization I was working for at the time, it took us years to untangle the mess we had gotten into, and by then he’d done serious damage to our team’s reputation—not to mention motivation and productivity.

    Deb Nystrom, REVELN's insight:

    One of the author's more recent book is, All In: How the Best Managers Create a Culture of Belief and Drive Big Results,  It features solid research and good examples of the impact of culture on success, so he knows from this single example of "the rat" to company wide culture change on what makes a difference.  


    From one reviewer:   In a healthy culture....those who share it are nourished by mutual respect and trust. It is no coincidence that most of the companies that are annually ranked [as] most admired and best to work for are also annually ranked among those that are most profitable and have the greatest cap value in their respective industries.    ~  D

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    John Michel's curator insight, September 24, 2013 12:50 PM

    A great lesson in hoy leaders would listen to their team before making  key hires.

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    Harvard Business School Case Study: Gender Equity, Women in the Harvard Business School

    Harvard Business School Case Study: Gender Equity, Women in the Harvard Business School | Change Leadership Watch | Scoop.it

    An aggressive Gender Equity program intended to foster female success brought improvements, but also resentment and uncertainty.


    ___________________
       
    Many Wall Street-hardened women confided that Harvard was worse than any trading floor...
       

    ___________________

          

         

    Year after year, women who had arrived with the same test scores and grades as men fell behind at the country’s premier business training ground. Attracting and retaining female professors was a losing battle; from 2006 to 2007, a third of the female junior faculty left


         

    Harvard Business School says it wants to improve the gender balance among faculty members, but it is far from that goal without extensive hiring.

        

    Many Wall Street-hardened women confided that Harvard was worse than any trading floor, with first-year students divided into sections that took all their classes together and often developed the overheated dynamics of reality shows.


    Some male students, many with finance backgrounds, commandeered classroom discussions and hazed female students and younger faculty members, and openly ruminated on whom they would “kill, sleep with or marry” (in cruder terms). Alcohol-soaked social events could be worse.

          

    In 2010, Drew Gilpin Faust, Harvard’s first female president, appointed a new dean who pledged to do far more than his predecessors to remake gender relations at the business school.

          

    Dean Frances Frei, …a popular professor turned administrator who had become a target of student ire, was known for the word “unapologetic,” as in: we are unapologetic about the changes we are making.

           

    By graduation, the school had become a markedly better place for female students, according to interviews with more than 70 professors, administrators and students…   Women at the school finally felt like, “ ‘Hey, people like me are an equal part of this institution,’ ” said Rosabeth Moss Kanter, a longtime professor.

        

    …yet even the deans pointed out that the experiment had brought unintended consequences and brand new issues. The grade gap had vaporized so fast that no one could quite say how it had happened. The interventions had prompted some students to revolt, wearing “Unapologetic” T-shirts to lacerate Ms. Frei for what they called intrusive social engineering.


    UPDATE:  See the 2014 apology by the current Harvard Business School Dean Nitin Nohria here.



     

    Deb Nystrom, REVELN's insight:

    In the tradition of excellent storytelling, the Times ends this in-depth story with a graduation speech by a Ms. Boyarsky, “the classroom truth-teller” - winner of the a prized Baker Scholarship, usually held by mostly males.  

    Her “witty, self-deprecating speech unlike any in the school’s memory” and provides a capstone ending to a remarkable and sobering story about women in business.


    Baby, you’ve still got a long way to go.  (Paraphrase of old Virginia Slims cigarette ad.)

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    Entrepreneurs Reframe Failure as Intentional Iteration - Adapt the Idea & Live?

    Entrepreneurs Reframe Failure as Intentional Iteration - Adapt the Idea & Live? | Change Leadership Watch | Scoop.it

    Failure.  It’s a harsh word.  No one enjoys failure.  No one ever really says, “Hey, I really want to fail today so I can learn.”  

    Yet failure is an inevitable part of human existence and it plays a central role in the mindset of an entrepreneur.  Without failure there is little forward progress; without failure innovation is rather incremental; without failure there is no reason to celebrate success.

    Entrepreneurs are taught to embrace and expect failure because the entrepreneurial path is rarely smooth or predictable.  Failure in this context, however, is not business failure.  Who wants that?  The fear of business failure paralyzes even the best potential entrepreneurs. 

    Failure in the entrepreneurial vernacular is reframed as intentional iteration and experimentation.  It’s not failure in the catastrophic sense.  Failure is simply a portfolio of setbacks, false starts, wrong turns, and mistakes that are expected and tolerated because the entrepreneur purposefully iterates in order to gather new, relevant, and timely information. 


    _______________________

    There is one fundamental truth in entrepreneurship.  All ideas change.

    __________________________


    Through iteration entrepreneurs seek not to kill an idea but to make it better, and this happens through an anticipated cycle of pivoting and adapting.
     


    There is one fundamental truth in entrepreneurship.  All ideas change.

    Deb Nystrom, REVELN's insight:

    Failure vs. Iteration?  Yes, makes sense to me.


    However,  I just attended an interdisciplinary lecture by Professor Howard E. Aldrich referencing his paper, Lost In Translation: Celebrating Entrepreneurship While Acknowledging Its Costs.  I was stymied that he was posing this question at the end of his lecture as a policy question:  Too many entrepreneurs or too many failures?

    His line of thinking is based on the high 5 year failure rate, 50%, of entrepreneurial businesses.    In my own town, the Ann Arbor Observer monthly journal posts a success / failure rate of local businesses in its business roundup.


    A student asked, at the end of the lecture, "Too many marriages or too many divorces?"   His question gets closer to the gist of the curious framing of professor Aldrich's work.  


    Aldrich offers that his research includes that entrepreneurs try a business idea once, and if the business fails, they do not try again.   Really?   I don't see this line of research ~ fail once and that's it ~ mentioned in the companion article for the ICOS lecture that was held at the Ross School of Business at the University of Michigan.  I will look into this further in due time.  If you have a resource, please share!  ~  Deb


    Reference:    http://icos.umich.edu/sites/icos6.cms.si.umich.edu/files/lectures/SEJ%20lost%20in%20translation.pdf 

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    Insourcing at GE: The Real Story of Process, Change, Culture and Profit

    Insourcing at GE: The Real Story of Process, Change, Culture and Profit | Change Leadership Watch | Scoop.it

    "The focus has been on jobs coming back. It's really a process and a culture story."

    GE Appliances is proving once again that the balance of process and people, aligned with a clearly articulated and understood purpose and vision, is the source of improved performance and capability development. With leadership engagement and support, this system will thrive


    Excerpted:


    • There was a fishbone diagram of the production flow
    • A cardboard mockup of the factory layout which also showed how the equipment would look.
    • At 7:45 a.m. each day leaders met, then at 8:00 a.m. everyone met to review the prior day, and what they would do that day.
    • Then at 4:15 p.m. everyone met again to review what they'd done.


    The water heater that resulted was a new design, with better performance: 20% fewer parts and 50% less labor.


    Inventory was reduced 60%, labor efficiency improved 30%, time-to-produce was reduced 68%, and space required for the line came down by 80%.


    The development team was extremely cohesive. But the problem was, the culture needed to change outside the "Big Room" and very few cultural change efforts had been made since 1994.

    As the leadership began to introduce a new way of working together it had to solidify trust in the workforce and instill a level of confidence that continuous improvement was not just another initiative that would pass. This would be a journey.


    Deb Nystrom, REVELN's insight:

    The insourcing story of GE is actually a process & culture change story, which is how it comes to be shared here on Change Leadership Watch.  ~  D

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    3 Ways Leaders Maintain Their Composure in Turbulence: Mack Brown

    3 Ways Leaders Maintain Their Composure in Turbulence:  Mack Brown | Change Leadership Watch | Scoop.it

    Leaders need to show more composure than ever before in the workplace in the post 2008 economy, becoming more mobile, more transient, more flexible, more innovative, and more strategic and diverse.


    Excerpted from a list of 7:

    1. Don’t Allow Your Emotions to Get in the Way


    Seasoned leaders ...don’t yell or get overly animated when times get tough. These types of leaders have such emotional self-control that even their body language does not give them away.


    4. Remain Fearless

    When leaders project confidence, they instill it in others. ...


    ....Recently, Mack Brown, the former coach of the University of Texas (UT) football team, was put under a lot of pressure to resign as a result of his team underperforming in 2013. Though the University handled his forced resignation poorly – considering Mr. Brown had coached the team successfully for the past 16 years – his decisiveness the day he announced his resignation made you feel that his transition out of the job was a positive thing for the university.


    Human nature will tell you that he must have been hurting inside, but his decisiveness and presence of mind made those that were watching him speak believe that the future looked bright for UT football.



    6. Take Accountability


    Leaders are most composed during times of crisis and change when they are fully committed to resolving the issue at hand. ...this means that you have made the decision to assume responsibility and take the required steps to problem solve before the situation gets out of hand.


    Article by Glenn Llopis, Contributor.  Full article here.
    Glenn offers the immigrant perspective how how companies can become more mobile, more transient, more flexible, more innovative, and more strategic and diverse.


    Deb Nystrom, REVELN's insight:

    This is a helpful list.  Although I don't agree with all the items, it's useful for reflection in tough times.  

    For example, authenticity and showing vulnerability is about honesty, and leaders do need to show this vulnerability from time to time, to be fully trusted.   Mack Brown may have shown this side to someone, yet in public, he did what was right for the school and the team.   ~ D

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    What is a Bitcoin, Besides Being Complicated? Try Virtual Finance 2014.

    What is a Bitcoin, Besides Being Complicated? Try Virtual Finance 2014. | Change Leadership Watch | Scoop.it

    Bitcoin and cryptocurrencies are complicated.  ...bitcoin is the rabbit leading us further down into the rabbit-hole.

         

    A BitCoin is a complex digital product that is not legally currency but used as currency and is exchanged for "ordinary income," so there are therefore, tax implications.

     

    ....If regulators choose to attempt to shut it down, they will only push innovation overseas, possibly to China where already companies like Baidu accept it.


    Related posts & tools by Deb:


    Deb Nystrom, REVELN's insight:

    I've paraphrased the direction of the article and scooped it here, in  Change Leadership Watch for three reasons:

    1) Welcome to World 2014.   We chose what in the virtual world will become real.   Bitcoins and digital currency don't have legal standing as currency, except that people are quite actively using them as currency.  If income is earned, even if it isn't legally seen as currency, it is taxable and deductible.


    2)  Bitcoin is connected to the famous Winklevoss twins, as mentioned in the film, "The Social Network" (juicy quote in the PS below.)  For all the kvetching about Facebook, WHO, in the USA, hasn't been touched by this social media giant's influence and marketing reach?  If you have a cell phone, developing nations are included in not only Facebook's reach, but perhaps ANY digital business.


    3)  The Wild West side of finance is not disappearing anytime soon. Regulation will simply define where it will find a home somewhere on the globe.  Read the last statement excerpted above as the example.  Shut down USA use = shift to China or <fill in eager country here.>


    PS:  Here's the quote:   Tyler Winklevoss: We can do that ourselves [beat up someone who stole their intellectual property.] I'm 6'5", 220, and there's two of me.

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    Executive Privilege & Power and Change Management, Facing Extinction?

    Executive Privilege & Power and Change Management, Facing Extinction? | Change Leadership Watch | Scoop.it

    Those in hierarchical positions of power have much to lose...[in a] redefined social contract that redistributes status...


    Gail's 3rd post in a series about change in change management:

    Organizations are ....dipping their toes into enterprise collaborative platforms that encourage symmetrical interactions and reduce hierarchy.


    Technology tools like social media and gamification are unlocking this power by providing platforms that scale and enable dialogue.


    This tentative tapping and experimentation with the speed of information sharing, clarification, engagement, and momentum is both exhilarating and threatening to many.


    As we .... learn how to ride the vast waves of information [via]... desktops, we are evolving new cultures and new social contracts with each other.


    Deb Nystrom, REVELN's insight:

    Might the ever widening chasm of executive power and compensation collapse on itself?  It seems possible when reading Gail's series about change management, power, hierarchy, transparency and social connection.

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    Michigan Gov. Rick Snyder Condemns GOP Official's Anti-Gay Remarks

    Michigan Gov. Rick Snyder Condemns GOP Official's Anti-Gay Remarks | Change Leadership Watch | Scoop.it

    Michigan Republican National Committee member Dave Agema's anti-gay remarks last week are drawing criticism from fellow Republicans, including Michigan Gov. Rick Snyder (R).

     

    At a GOP holiday party last week,  Agema said that gay people want health care reform because they die earlier in life. The Herald Palladium newspaper reported that Agema said he had seen gay colleagues at American Airlines claim AIDS victims as lovers so they could receive insurance benefits.


    ________________________________
          
    "There shouldn’t be room for that in any political party. We must make sure everyone is treated with respect and civility." ~ Gov. Snyder's spokeswoman, Sara Wurfel

          

    ________________________________


    "Folks, they (gay people) want free medical because they're dying (when they're) between 30 and 44 years old," Agema said, according to Herald Palladium.   "To me, it's a moral issue. It's a Biblical issue. Traditional marriage is where it should be and it's in our platform. Those in our party who oppose traditional marriage are wrong."


    Snyder's spokeswoman, Sara Wurfel, said Tuesday that Agema's remarks "are extreme and discriminatory."   ...."There shouldn’t be room for that in any political party. We must make sure everyone is treated with respect and civility."


    ...After Agema's comments last week were widely reported, he sent an email to supporters, saying the original article "twisted [his] speech far out of context."


    "I was simply making a point about my opposition to same sex benefits and for traditional marriage," he wrote. "I stand by my words as I said them despite efforts by others to twist the meaning of those words. I strongly support the GOP Platform, the Michigan Constitution and the RNC Resolutions passed in support of Traditional Marriage and will not back down from those principles."


    Deb Nystrom, REVELN's insight:

    Agema has been in the press several times before for the same issue.  It is up to the voters of Michigan to decide regarding facts of this politician and what he is promoting.   ~  D

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    Universities Embracing ‘Incubators’ Role with Tech Start-ups

    Universities Embracing ‘Incubators’ Role with Tech Start-ups | Change Leadership Watch | Scoop.it

     "Hundreds of US colleges and universities have created incubators, aiming to provide a different kind of educational experience, and a chance for a successful company."


     

    Excerpts:
     

    Just before graduating from the University of Michigan, Calvin Schemanski began his start-up.

     

    With two classmates, he got free office space on campus and $7,500 in funding from the university’s student startup accelerator, TechArb.

     

    ___________________________
         
     “there is a good support network” of professors and mentors to help students and new graduates get their startups going."

        

    ___________________________


    The project, a restaurant recommendation app called MyFab5 using a “favorites” formula, is now preparing a national launch.

     

    The project is among dozens at Michigan and thousands across the United States getting help from “incubators” at US colleges and universities, often with a dream of launching the new Facebook or Google.

     

    “There’s a real spark of entrepreneurship on campus,” said Schemanski, who graduated in 2012 with a business degree.

     

    ...The 23-year-old, who had begun his own pedicab service as a freshman, acknowledged that “it’s definitely a sacrifice” to work nights and weekends on these projects while other students attend parties and football games."

     

    But he said “there is a good support network” of professors and mentors to help students and new graduates get their startups going."

     

    Click headline to read more--


    Related posts & tools by Deb:


            

               




    Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc, U-M Human Resource Development
    Deb Nystrom, REVELN's insight:

    Universities have been seen as staid, behind the times ivory towers.  With declining state funding at publics & escalating costs everwhere, there is an entrepreneurial spirit entering the academic halls, and this is witness to it. ~  D

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    Carrie Davis Childerston's curator insight, December 4, 2013 9:03 AM

    From Pedi Cabs to Restaurent Apps.. this U of M grad is one to watch.

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    Success = Humanizing E-Commerce | Rakuten’s CEO story

    Success = Humanizing E-Commerce | Rakuten’s CEO story | Change Leadership Watch | Scoop.it

    Mikitani believes that human beings need communication and connection. So instead of ...efficiency and convenience, Rakuten tries to create a personalized, bazaarlike shopping experience.


    Excerpt:

    I didn’t want to create a superstore; I wanted Rakuten to be more like a bazaar, where the owners of many small shops would curate the merchandise and interact personally with customers. I believe that is the kind of experience many people prefer—even if they’re shopping online.


     __________________________

    Today Rakuten is the world’s third-largest marketplace for e-commerce, [with] 10,000 employees, and we operate in 13 countries.

    _______________________________


    This approach has worked well for us. Today Rakuten is the world’s third-largest marketplace for e-commerce, behind Amazon and eBay. We have nearly 10,000 employees, and we operate in 13 countries. Last year we sold $15 billion worth of goods globally, and in our home market Rakuten is by far the dominant online retailer in a host of categories, including apparel, food, and household goods. Newer online retailers, such as Fab and Etsy, are imitating our model.

    When we launched, companies were just beginning to sell over the web. Amazon ...was selling only books. Some companies ...[set] up “online shopping malls” ...to sell goods via a single website.

    IBM had opened one ...with brands such as L.L. Bean, Hudson’s Bay, and Gottschalks. But the model proved tricky, and IBM discontinued the project ...its merchants complained that there was too much IBM branding on their sites and that IBM wasn’t an effective intermediary between the retailers and the customers.

     

    At Rakuten we ...charged $650 a month to set up a store—a small fraction of what the big internet malls were charging. We allowed merchants to customize their web presence [and]  encouraged them to interact directly with customers...   We’d found that merchants who told their personal stories and made a connection with shoppers did very well.


     

    Deb Nystrom, REVELN's insight:

    Japanese based Rakuten may be the next wave of adaptation, globally and locally.  Personal relationships have always mattered in business.  Creating the feeling of a boutique or hyper-                                                                                                                                                   local connective feeling matters alot.  ~  D

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    From Anonymity to Scourge, Former Engineer Targets Unbridled Greed and Fraud at Wall Street

    From Anonymity to Scourge, Former Engineer Targets Unbridled Greed and Fraud at Wall Street | Change Leadership Watch | Scoop.it
    A onetime engineer who earned his law degree at night has been behind the government’s campaign to punish Wall Street for the financial crisis.


    ...The wave of cases has ignited a legal controversy, raising the question of whether federal prosecutors, in dusting off an old statute, are misapplying the law. So far, judges have blessed the government’s tactics.


    “It’s been an extremely effective tool,” said Mr. Weidman, who lives in West Los Angeles with his wife, an artist, and their 95-pound Labradoodle.


    ...“I can’t emphasize enough how significant Lee was to these lawsuits,” said Thomas J. Perrelli, a partner at Jenner & Block who was the associate attorney general overseeing many of these cases. “He was the one person who developed the theory that laid the foundation for the financial crisis cases.”


    Mr. Weidman’s work came into focus in 2009 with the economy reeling and the Obama administration under fire for not holding Wall Street banks accountable. As the Justice Department searched for new prosecutorial methods, Mr. Weidman became an overnight sensation within the agency.


    ...The federal government’s deployment of the little-used law has inspired comparisons to Eliot Spitzer’s novel use of the Martin Act as a cudgel against fraud. As New York’s attorney general, Mr. Spitzer harnessed the powerful 1921 state law to pursue suspected wrongdoing at large Wall Street firms like Merrill Lynch.


    Deb Nystrom, REVELN's insight:

    Millions, billions have been affected by the financial meltdown; and the money involved, could it be a trillion?  This man is aiming to make sure it never happens again.  ~  D

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    Most Creative People 2013

    Most Creative People 2013 | Change Leadership Watch | Scoop.it

    The 2013 global leaders in technology design media music movies marketing television sports and more. What have you learned from the world's most creative, successful leaders?


    Excerpts:

    2.  THE GALAXY GUIDE

    Samsung--under the design direction of Dong-hoon Chang--has been killing the smartphone game, from the gargantuan Galaxy Note 2, which further popularized the “phablet” trend, to the Galaxy S III, which briefly unseated the iPhone last year as the best-selling phone in the world. To gather ideas during the development of the S III, Chang led his design team on a city-hopping observation tour around the globe, from hot-air-balloon rides in Africa to Singapore’s Skypark on the Marina Bay. He says the travels inspired the S III’s oval, pebblelike shape and shimmery color, as well as the water-ripple effect of its touch screen. 



    4.  KIRTHIGA REDDY, DIRECTOR OF ONLINE OPERATIONS, FACEBOOK INDIATHE GLOBAL MOBILE ALL-STAR

    When Kirthiga Reddy opened Facebook's India office in 2010, the site had just 8 million users in a nation of 1.2 billion people. Since then, she's grown Facebook India ninefold, to 71 million as of the end of 2012--healthy growth, given that only a tenth of Indians have Internet access.



    Deb Nystrom, REVELN's insight:

    The headline offers, "the value of creativity at a crucial time in business."  ~  D

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    Google rolls out new 'Hummingbird' search algorithm

    Google rolls out new 'Hummingbird' search algorithm | Change Leadership Watch | Scoop.it
    Google has changed the algorithm it uses for search in an effort to improve results for longer, more complex queries.


    "Hummingbird" is the company's effort to match the meaning of queries with that of documents on the Internet, said Singhal from the Menlo Park garage where Google founders Larry Page and Sergey Brin conceived their now-ubiquitous search engine.

    Deb Nystrom, REVELN's insight:

    Asking good questions is the key to learning and understanding. This is something to watch in the world's eye via Google.  ~  D

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    How I Hire: Focus On Personality ~ Sir Richard Branson

    How I Hire: Focus On Personality ~ Sir Richard Branson | Change Leadership Watch | Scoop.it

    There is nothing more important for a business than hiring the right team. If you get the perfect mix of people working for your company, you have a far greater chance of success."


    Excerpted:

    Personality is the key. It is not something that always comes out in interview – people can be shy.....It is easier with an extrovert, but be wary of people becoming overexcited in the pressure of interviews.


    ________________________

    Find people with transferable skills – you need team players who can pitch in and try their hand at all sorts of different jobs. 

    ________________________


    You can learn most jobs extremely quickly once you are thrown in the deep end. Within three months you can usually know the ins and outs of a role. If you are satisfied with the personality, then look at experience and expertise.


    Find people with transferable skills – you need team players who can pitch in and try their hand at all sorts of different jobs. While specialists are sometimes necessary, versatility should not be underestimated.


    Related posts by Deb:
         

    3 Success Factors for High Performance Teams, and What Gets In the Way

          

    Beyond Resilience: Black Swans, Anti-Fragility and Change

           

    Using Jung to Clarify the Power of Introversion and Extroversion in Coaching

     


    Deb Nystrom, REVELN's insight:

    Yes!  Starting with personality, then transferable skills and fit into culture (read, the BIG team) makes such a difference, yet does not fit our hiring patterns that are often about fitting into a template of past skill categories.   

    Sir Richard Branson's piece also highly resonantes with his LinkedIn audience based on the commentary.   He moves credentials MUCH further down on the list.

    This is from a successful entrepreneur who knows failure.  He did not succeed in his first two businesses, selling Christmas Trees and parakeets (really.) From there he rose from work at a record shop, to Virgin Records in the 1970s to a large network of businesses including Virgin Galactic in 2012.
     

    "A business has to be involving, it has to be fun, and it has to exercise your creative instincts." ~ Richard Branson

    ~  Deb 


    PS:  One of the comments, "Can I work for you?"  :-)

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    Deb Nystrom, REVELN's curator insight, September 24, 2013 11:03 AM

    Originally posted in Change  Leadership Watch, this post gives great pointers on what really matters when YOU decide where you best fit and can contribute.  ~  D

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    Markets ARE Highly Dependent on the Fed, The September Experiment

    Markets ARE Highly Dependent on the Fed, The September Experiment | Change Leadership Watch | Scoop.it
    This week should remove any doubt about whether markets are highly dependent on the Fed. They sure are. Indeed, you could not have constructed better conditions for a controlled experiment.


    ...there is only one major factor that can consistently explain this week's market moves. And it centers on expectations of Fed policy.

    ...markets are celebrating; and the Fed has proven that it still enjoys tremendous influence on asset prices regardless of fundamentals. 


    Deb Nystrom, REVELN's insight:

    An experiment proves how much thr Fed can affect the markets.  Worth a look, especially by investors.  ~  Deb

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    Revealed – the 147 Companies That Run the World | Forbes & New Scientist

    Revealed – the 147 Companies That Run the World  |  Forbes & New Scientist | Change Leadership Watch | Scoop.it

    An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.


    The study's assumptions have attracted some criticism, but complex systems analysts contacted by New Scientist say it is a unique effort to untangle control in the global economy. Pushing the analysis further, they say, could help to identify ways of making global capitalism more stable.
     

    The idea that a few bankers control a large chunk of the global economy might not seem like news to New York's Occupy Wall Street movement, ...but the study, by a trio of complex systems theorists at the Swiss Federal Institute of Technology in Zurich, is the first to go beyond ideology to empirically identify such a network of power. It combines the mathematics long used to model natural systems with comprehensive corporate data to map ownership among the world's transnational corporations (TNCs).

    _________________________

    "If connectedness clusters, so does wealth, ...
    money flows towards the most highly connected members." ~ Dan Braha of NECSI

    _________________________

     

    "Reality is so complex, we must move away from dogma, whether it's conspiracy theories or free-market," says James Glattfelder. "Our analysis is reality-based."

    From the Forbes summary version of this post:


    ... the data set...excludes GSEs and privately-held companies and is dominated by banks, institutional investors and mutual funds that don’t always have much in the way of control over assets.


    Forbes reader danogden ...commented: “…pension plans, corporate 401(k) plans and individual funds..manage trillions in assets ultimately belonging to individuals who are predominantly not in the “1%”. …


    ...“custodian banks” in the list — companies who hold the assets of asset managers to ensure timely processing of things ...do not own the assets, or even really control [them.] A better list would be the actual asset OWNERS, rather than the vendors who manage, house and clear said assets.”


     If connectedness clusters, so does wealth, says Dan Braha of NECSI: in similar models, money flows towards the most highly connected members. 


    ...The real question, says the Zurich team, is whether it can exert concerted political power. Driffill feels 147 is too many to sustain collusion. Braha suspects they will compete in the market but act together on common interests. Resisting changes to the network structure may be one such common interest.


     

    Deb Nystrom, REVELN's insight:

    Complexity science is a window to understanding nature as well as ourselves in a global system.  This article is blend of two, from the original New Scientist post from 2011, and from a Forbes summary that was listed on LinkedIn today, September 2013.  ~  Deb

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    Jim Allen, III's curator insight, September 13, 2013 10:26 AM

    They didn't dig deep enough into who heads, runs, and holds most interest in these companies and the number will be closer to 12 families.