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Before You Innovate, Ask the Right Questions

Before You Innovate, Ask the Right Questions | digitalNow | Scoop.it
Make sure you're not solving the wrong problem.
Don Dea's insight:

Disruptive Innovation: The most troublesome area is disruptive innovation, which target light or non-consumers of a category and require a new business model, because the value they create isn't immediately clear. While every new Apple product turns heads, when Google comes out with something most people won't even understand what it is, much less how they'll make money on it. From Google Maps to autonomous cars, they manage to fill needs we didn't even know we had. 3M, the company that pioneered scotch tape and post-it notes, derives up to 30% of its revenue from products launched in the past 5 years.

Both companies use a version of the 15% / 20% rule, where employees are required to devote a fixed portion of their time to projects unrelated to their jobs. Other firms have dedicated innovation labs where they can "test and learn" without excessive risk. A VC approach, in which small investments are made in emerging firms, can also be successful.

While focus is important, no company should limit itself to just one quadrant. Apple, for instance, is mainly a sustaining innovator, but iTunes was certainly an important disruptive innovation. While Google might be the greatest disruptive innovator on the planet, they spend considerable resources to improve existing products.

So it's important to develop an effective innovation portfolio that has one primary area of focus, but also pursues other quadrants of the matrix and builds synergies between varied approaches. Innovation is, above all, about combination.

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Ivon Prefontaine's curator insight, March 2, 2013 11:41 AM

We are a quick-fix society. We need a much different approach and this article speaks to defining the problem. I would go one step further and use David Bohm's thinking. Most of what we think of as a problem is a paradox. Problems and their solutions often lead to more problems. Paradox with the right approach lead to understanding, dissolution, and resolution.

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Exploring leadership, management, innovation, and technology issues and trends; impacting associations & non-profit organizations in the digital age.
Curated by Don Dea
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5 Big Mistakes Managers Make When Developing Their People

The only way to achieve exponentially greater results is to get every member of your team functioning on more cylinders, as individuals and as a team.

Good managers spend at least 10-20% of their time developing their people.

Be sure you’re investing your time well by avoiding these common traps.

5 MISTAKES MANAGERS MAKE WHEN DEVELOPING THEIR PEOPLE

1. FORGET THEY’RE STILL LEARNING TOO

There’s a weird imaginary threshold I see too many managers cross. They creep into “I’ve got this, and now my job is to teach it to you” land.  Almost every manager goes there at some point in their career, and many get stuck in it’s delusional abyss. The only way to be an effective leader is to scurry back to reality as fast as you can. Leadership is never handled. See also, 60 Reasons Leaders Stop Learning.

I’ve learned the hard way that our teams see our flaws and mistakes better than we do. Even if they love you, there are at least 17 reasons they don’t want to lead like you.

Be sure the learning and listening is a two-way street.

2. INVEST ONLY IN THE “HIGH POTENTIALS”

“I don’t have time to develop everyone, so I’ll really invest in the top 5%, maybe even 10%,” is the cry I’ve heard many times. I’m all for giving extra effort the box 9s, goodness knows I’m grateful for every ounce of extra effort folks poured into me as I climbed the ladder. BUT, imagine the possibilities when you tap into the majority of your team, building on everyone’s strengths, and helping them to see themselves as more than “also-rans”?

3. FOCUS ON INDIVIDUAL DEVELOPMENT BUT DON’T DEVELOP THE TEAM

A team of super stars who don’t know how to work as a team, can’t win. The egos get in the way, and conflict sucks the life out of all productivity, and prohibits real creative breakthroughs that involve integrated thinking.

I once worked for an executive who painstaking recruited the very best players in every discipline, and then got us in a room and announced his plan. Our bonuses (a large percentage of our salary, usually stack ranked) would all be exactly the same, based on our performance in his experimental organization. He’d received permission from HR to try it. If we blew it out of the park, he’d get money added to the pool. If we sucked, he’d give it back. Either way, we’d all be paid the same percentage.
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This Is What Real Leaders Do

If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours. … If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.”
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The Role of Mood in Inspiring Aligned Behavior

Leaders need to be honest with how things are going – don’t say things are fine when they’re not. Do, however, present the realities from an optimistic viewpoint, not a depressive one.

Even if a bad mood arises, the most effective leaders set that mood aside, and present a kind, pleasant, and non-judging approach in every interaction.
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Market Mapping for Sustainable Growth

Market Mapping for Sustainable  Growth | digitalNow | Scoop.it
Mass market vs. customization

“Lower prices every day” is not a Wal-Mart advertising slogan by accident, but a central element of the company’s branding and value proposition. Hence, the lower right hand corner of the matrix designates the largest mass market, the one with the lowest prices and the most standardization. This is high volume market, the mass of the mass market.

In the USA there’s a company called “The Dollar Store” that occupies that spot. Everything in the store costs, predictably, $1, and the lure is the pricing, as it’s obvious to everyone that this is not the place to be looking for high quality. In fact, the dollar store business model can exist only because of super-high volume manufacturing in massive, highly automated, digitally-controlled factories that crank out impressive (or appalling) volumes of plastics.
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CRM Software Sales Grow 13 Percent to 23 Billion Worldwide

CRM Software Sales Grow 13 Percent to 23 Billion Worldwide | digitalNow | Scoop.it
The top 10 vendors accounted for more than a 60% share of the CRM business in 2014, according to Gartner, which also detected a pick-up in business among pure-play vendors from organizations bulking up digital marketing and customer experience capabilities.

North America remains by far the largest market for CRM systems, registering more than half of all sales. It was followed by Western Europe with a quarter of the market. The key reason for this lopsided geographical skew is that the cloud infrastructure for SaaS deployment is more mature in these regions.

The communications, media, and IT services industries led CRM software activity in 2014 with more than 23% of buys. Manufacturing concerns, including consumer packaged goods companies, were close behind, Gartner reported.
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Email Marketing A True Diamond in the Rough

Although click-through rates remain dull, the channel still dazzles in terms of engagement.

Every channel has a certain quality that brings a twinkle to marketers' eyes. But when it comes to generating engagement, email is simply a cut above the rest. According to Ascend2's “Email Marketing Trends” report, 63% of marketing, sales, and business employees list increased engagement as their top email marketing objective. Other goals include increased lead generation (51%), improved customer acquisition or retention (43%), and enhanced lead nurturing (35%). But these objectives aren't just glitz and glamour. Oh no. Employees are actually meeting their goals. In fact, 89% of respondents consider their email marketing somewhat or very successful in terms of achieving important objectives, compared to just 11% who view their email marketing somewhat or very unsuccessful.
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Cmon, Touch Me

Cmon, Touch Me | digitalNow | Scoop.it
TouchMedia is specifically designed to equip the substantial amounts of offline media used by brands with easy ways for consumers to interact with those brands. On TV, radio, direct mail, or even billboards, a keyword or QR code or Shazam-like audio identification is provided to let people instantly engage in live chats to pose questions or place orders.

“You're looking at an ad for a new car on TV or on your tablet and you send a text and are automatically put in touch with a live agent that knows everything about the product,” says Yann Motte, SVP of strategy and business development at TouchCommerce. “In the consumer world, it's all about simplicity: Text the keyword, click the link.”
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The Business Power of Empathy

The Business Power of Empathy | digitalNow | Scoop.it
In our high-powered, win-at-all-costs business environment, the word "empathy" often evokes derision and scorn. Who has time to be a squishy, touchy-feely wimp overflowing with empathy? We're all busy closing deals and kicking butt!

Kicking, closing, etc., is great and all -- but empathy has genuine business value. Don't forget that CRM has "relationship" right in the middle of it. Relationships are what keep customers, and keeping customers is the route to profitability. And you can't create great customer relationships without a degree of empathy.

Go Through the Motions

For the lexicographically challenged or sociopathic among us, empathy is defined as "the psychological identification with or vicarious experiencing of the feelings, thoughts or attitudes of another."

This is not something businesses are especially good at. We all tend to have our thinking bent toward the concerns of our businesses, for obvious reasons. However, as customers awaken to the growing power in their possession, we need to break out of our introspective mindsets and see ourselves -- and our processes -- as others see us (to mangle the words of the great Scottish CRM expert Robert Burns).
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Only One in 10 People Possess the Talent to Manage

Only One in 10 People Possess the Talent to Manage | digitalNow | Scoop.it
One of the most important decisions companies make is simply whom they name manager, Gallup has found. Yet our analytics suggest they usually get it wrong: Companies fail to choose the candidate with the right talent for the job 82% of the time.

And great managers are scarce because the talent required to be one is rare. Gallup's research shows that about one in 10 people possess high talent to manage. Though many people have some of the necessary traits, few have the unique combination of talent needed to help a team achieve the kind of excellence that significantly improves a company's performance. When these 10% are put in manager roles, they naturally engage team members and customers, retain top performers and sustain a culture of high productivity.
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Companies Only Deliver on Their Brand Promises Half the Time

Audit the brand promise. The promises that companies make to their customers today must be deliverable today. Leaders should objectively assess their company's brand promises and ask themselves:

Which promises are easy to keep?
Which promises are harder to keep?
Which promises are customer focused?
Which promises define the brand?
Which promises are gratuitous and could be eliminated?
Which promises differentiate your brand from its competitors?
Armed with the answers to these questions, leaders can better define their company's brand promise and ensure that it is truthful, compelling and unique. They can eliminate any promise that is false or difficult to maintain, and focus solely on the promises that their employees can consistently deliver.
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Owned Media VS Earned Media: Which Yields Better Results

Owned Media VS Earned Media: Which Yields Better Results | digitalNow | Scoop.it
Earned media: Isn’t a true media platform at all. Rather earned media is a marketing approach that’s akin to word of mouth (WOM). It aims to get people, especially customers, influencers, and other media entities, talking about your company and/or brand.
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Trends in Employee Turnover and Retention | Graziadio Business Review

After decades of globalization and intensifying competition, it is widely recognized that the market for talent has replaced loyalty as the decisive factor shaping the relationship between employers and employees. It seems just as clear that this fundamental shift has led to a decrease in loyalty and trust on both sides.
Don Dea's insight:
Retention and Turnover

Just as employees can no longer rely on paternalistic management structures to shield them from the effects of market cycles, technological change, or international competition, employers can no longer assume that employees will stay if circumstances—and these can be push or pull factors—encourage them to leave.

This has demanded the attention of employers because the ability to attract and retain the best talent represents a decisive competitive advantage, one that will determine the current and future profitability of most companies. So, it is not surprising that increasing thought is being paid to issues of employee retention and to the costs of high employee turnover.

There are two propositions here. The first involves the retention of key employees. Employment may be insecure for a large portion of the American workforce, but for those with critical skills and talents the reverse is true. The transformation of corporate employment from corporate benevolence to a talent market has granted employees an advantage that gives every indication of being permanent. While this issue involves far fewer employees, its effects are magnified by the increasingly specialized nature of skills within the knowledge economy. Often, employees lost to one company will find a place with their direct competitors. And when it comes to innovators, the benefits lost with their resignation can be immense; Dr. John Sullivan suggests that it could be 5 to 300 times that of an average employee.[1]

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A Values Approach to Advancing Women in Leadership

A Values Approach to Advancing Women in Leadership | digitalNow | Scoop.it
“Women are the most underutilized economic asset in the world’s economy.”[3] Figure 1 depicts an assessment of the economic impact women’s work and leadership could have on various countries by the year 2020, these figures suggest a ripple effect: women’s contribution raises the GDP significantly around the globe
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Relationship Currency Transforms a Transactional World

Three Powerful Lessons

Our beliefs shape our experience.

It is said that experience shapes our beliefs. In fact it is the opposite. Our beliefs shape our experience.

Because I believed that relationship currency is worth more than money, I didn’t just walk away when I found out I had been outbid. Instead, I began to think creatively about alternatives.

If I had a different belief and had given up, I would have had a different experience.

You won’t always get back what you give, but give anyway.

Several years ago I donated several copies of my book Full Steam Ahead! Unleash the Power of Vision to this fire department. I had no expectation of getting something in return and in fact, never mentioned it to anyone. I never would have guessed that my relationship with that fire department would become the lynchpin to buying a home.

People talk about the payoff from investing in relationships; and it’s true, it’s a good idea to nuture relationships. But you never know which relationship is going to “payoff.” It’s possible none will. It’s better to just help people out because it’s the right thing to do, without an expectation that you’ll get something in return.

I have found I am a happier person when I give more than I take and when I can make a difference in another person’s life. And sometimes, just sometimes, what you put out does come back to you from unexpected sources.

Have faith in the potential of the next generation.

This experience has renewed my faith in humanity and in the future that lies in the hands of this next generation – that not all decisions are being made solely on a transactional basis, and that the currency of relationship can be as strong a force as the dollar.

I’ve told this story to many people who have been deeply touched, and I decide to share it more widely. We hear so much about all the things that are going wrong and not enough about the good things. There is much more than I was able to include in a blog post length, and the story keeps unfolding and gets better. I hope this helps show that although it’s easy to focus on negativity because we are bombarded with it, when you look around, you can see there is a lot of goodness and generosity in this world.
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Daily practices for exceptional leadership

Identify behaviors you need to improve upon: Leadership is mastered through your thoughts and ultimately, your behaviors – including how you communicate, how you move, and how you respond. Maybe you need to listen better, connect more, become more confident in your skin, or make sure you express your appreciation more often. The behaviors you choose are the seemingly small things that make great leaders. I once worked with a client who wanted to stop interrupting others, and she found that when she did this, it made a profound impact on how performed as a leader.

Break your behaviors down into daily practices: Its best to begin with one or two behaviors at a time. Practice them daily. Stay accountable to your practice in some way (ask a friend, your manager, a colleague or your coach to hold you accountable). Plan to spend 6 months or more with daily effort at embodying your practice; it will get easier. Ask for feedback as you practice: are others noticing the changes you’re making? Based on what you hear, adjust and carry on with your practice.
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Marketing Strategy for the 2015 Customer

Marketing Strategy for the 2015 Customer | digitalNow | Scoop.it
But not all of the things that everyone gets excited about sticks around or is successful,” Henderson said. “The challenge is to know when not to overinvest or underinvest. I think marketers need to be thinking more about how they can strategically nurture some of these new channels. If it works out, promote it into a standard part of their marketing mix. If not, kill it.”

He warned that marketers should have long-term goals that may not produce the most desirable results right away. But how can marketers determine what's working and what's not?

“Both analytics and gut instinct are important to determine when you have a winning strategy,” he stressed. “The best marketing analysts who I know have great instincts. Reports and analytics don't just pop out answers. Oftentimes the real insights that you get are driven by a smart analyst who's following her instinct.” From that, Henderson said that marketers can pinpoint what's causing issues or, conversely, what might be profitable. Bottom line: You need good instincts and good data to make a good strategy.

“Blend the art and creativity with the data and the tech,” he said on a final note. “That will be the challenge of the future. The right mix will produce a successful strategy.”
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CRM Software Sales Grow 13 Percent to 23 Billion Worldwide

CRM Software Sales Grow 13 Percent to 23 Billion Worldwide | digitalNow | Scoop.it
The top 10 vendors accounted for more than a 60% share of the CRM business in 2014, according to Gartner, which also detected a pick-up in business among pure-play vendors from organizations bulking up digital marketing and customer experience capabilities.

North America remains by far the largest market for CRM systems, registering more than half of all sales. It was followed by Western Europe with a quarter of the market. The key reason for this lopsided geographical skew is that the cloud infrastructure for SaaS deployment is more mature in these regions.

The communications, media, and IT services industries led CRM software activity in 2014 with more than 23% of buys. Manufacturing concerns, including consumer packaged goods companies, were close behind, Gartner reported.
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The Value of Incremental Innovation

The Value of Incremental Innovation | digitalNow | Scoop.it
A focus on incremental innovations, and the activities that source and develop them, make sense in the following context:

Pipeline Management: Too often I see organizations filling an innovation pipeline with large-scale, broadly scoped, long-term innovations that leave their programs vulnerable. I say the world “vulnerable” with purpose. Innovation programs are often politically sensitive and need to be extremely conscious of the constant pressure to undermine their achievements and goals (read this article for more details). By having a pipeline that is balanced, there is a better chance that at least some activities will be implemented, balancing out some of the failures which you are sure to encounter.
Don Dea's insight:
  • Starting a program: Often leaders of new innovation programs are tempted to focus on big thinking. And why not? It is sexy, cool and fun! The reality is that new programs will face some healthy skepticism by their leadership, especially within established business units, so it is important to get some runs on the board. By quickly demonstrating success, even with smaller ideas, you are able to create an impression of momentum and a build towards bigger ticket thinking.
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Do You Really Want Disruptive Innovation? | Innovation Management

Do You Really Want Disruptive Innovation? | Innovation Management | digitalNow | Scoop.it
Leaders reference changing market dynamics as mid-term concepts, rather than immediate burning needs that threaten the ongoing existence of their business
Don Dea's insight:

What company wouldn’t want to come out with the next iPhone, online bookstore or Swiffer mop? In the right circumstances disruptive innovation can be a valid path to drive the long-term survival and growth of a mature organization. But Anthony Ferrier argues that most companies are not in that environment. They talk (a lot) about pursuing disruptive innovation, but the reality is that they don’t really want, or are able, to support it.

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The Rise of the Chief Innovation Officer

The Rise of the Chief Innovation Officer | digitalNow | Scoop.it
The combination of people skills, technological wisdom and a greater business understanding isn’t a natural marriage, and is the reason why innovation executives are becoming increasingly sought after.
Don Dea's insight:

The CINO’s key role is to constantly “bang the drum” for innovation, being responsible for identifying and proposing areas where technology, company structure and day-to-day practices can be combined and refined to drive a business towards its corporate goals.

The CINO must be strategically aware and able to operate tactically in the short-term, but be equally comfortable in long-term strategic planning. They will believe in the benefits of innovation, but may not be the creative, innovative thinker. Their key role is to create the environment that enables the innovators to operate to best effect. Today’s CINO is organisational-savvy; they understand how to best operate and who holds the power to get things done.

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The Expertise Gap is Real and Employees Need Your Attention Now

The Expertise Gap is Real and Employees Need Your Attention Now | digitalNow | Scoop.it
The biggest challenge is not in the understanding or expertise associated with new technology. We can learn that. The biggest problem is our inability to recognize that the experience we have today is not the experience we need going forward.
A notable separation exists between the expertise people have or are learning and the jobs companies need to hire for in an increasingly digital economy. This means that current employees possess expertise to perform jobs that are losing prominence in business while new jobs openings (or the need to create them) are becoming increasingly difficult to fill.
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David Hain's curator insight, May 24, 6:25 AM

What got us here won'tpget us there!  Big job market effects...

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Facebook's Instant Articles Raise Troubling Questions

Facebook's Instant Articles Raise Troubling Questions | digitalNow | Scoop.it
Speed Matters

Stories placed through Instant Articles will load up to 10 times faster on mobile devices than other stories on Facebook, the company said.

Several interactive features come with Instant Articles. One lets consumers tilt their phone to zoom in and explore photos. Scrolling through stories will trigger autoplay videos. Readers can explore interactive maps, listen to audio captions, and even Like and Comment on individual parts of an article in-line.
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Managers Account for 70% of Variance in Employee Engagement

Great managers consistently engage their teams to achieve outstanding performance. They create environments where employees take responsibility for their own -- and their team's -- engagement and build workplaces that are engines of productivity and profitability.

But not every team is led by a great manager. That's why managers account for at least 70% of the variance in employee engagement scores across business units,
Don Dea's insight:

The Talent to Achieve Excellence

If great managers seem scarce, it's because the talent required to be one is rare. Talents are innate and are the building blocks of great performance. Knowledge, experience and skills develop our talents into strengths, but unless people possess the right innate talents for our job, no amount of training or experience will lead to exceptional performance.

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Infusing Traditional Business Systems with Spiritual Wisdom

Infusing Traditional Business Systems with Spiritual Wisdom | digitalNow | Scoop.it
The Value of Mindfulness

While many organizations focus solely on shareholder value, other companies realize that positive financial results come when they invest in the human capital in their workplaces.[5] When employees have sustained pressure to contribute to competitive and profitable organizations, it can result in negative consequences like physical illness and chronic health conditions.
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Smartphones Can't Be Trusted to Run Our Lives

Smartphones Can't Be Trusted to Run Our Lives | digitalNow | Scoop.it
If we drop our keys, we can still use them to start our car or open our house, right? If we drop our wallet, we can still pick it up and use everything inside, right? However when anything happens to our delicate smartphone, we are out of luck! And this is the device we are trusting with all our vital information and ability to get into our home or cars? Are we crazy! So what's the solution?
Don Dea's insight:
Stuff Happens

Smartphones are not sturdy. Many things can and do happen that make the smartphone unusable -- and when the smartphone is unusable, so are all these amazing features and apps. The smartphone can go from an amazing remote control to a useless paperweight in the blink of an eye.

In fact, that's what happens countless times, every single day, to users from coast-to-coast in the U.S. and worldwide. That's why handset makers and wireless networks sell insurance for these devices. Insurance makes fixing or replacing a smartphone more affordable, but it does not solve the other problems.

When the phone stops working, we are disconnected from our world. That's the problem.

Last week I lightly dropped my iPhone and it stopped working. Period. End of story. Unusable.

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