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We Have Lost Sight of the Real Meaning of Innovation

We Have Lost Sight of the Real Meaning of Innovation | digitalNow | Scoop.it
Various definitions of the word needlessly complicates what should be a simple mandate and increases pressure in the workplace.
Don Dea's insight:

If simply defining it sounds easier said than done, it’s because it is. Defining it is only one half of the equation. The other is explaining how creating something new and uniquely useful occurs, all within the context of your company’s short- and long-term objectives and external market factors that impact your business.

More often than not, people will gravitate toward the external market factors and pursue ideas that address a trend. While that is crucial to sustaining relevancy from a brand and product standpoint, it may lead to a culture of need-to-be-innovators who only pursue a certain type of idea and outcome, which may not be a fit for the company.

It’s critically important for senior management to share a vision and be clear in communicating the need to explore ideas at the crossroad, which will not only clear up confusion around innovation and relieve pressure among employees, but also inspire innovation, moving the company forward in a positive direction.

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digitalNow
Exploring leadership, management, innovation, and technology issues and trends; impacting associations & non-profit organizations in the digital age.
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Scaling a transformative culture through a digital factory 

Scaling a transformative culture through a digital factory  | digitalNow | Scoop.it
The most successful transfer process begins with launching and testing an MVP (minimum viable product) to collect feedback from business owners and demonstrate impact. The gradual deployment of the product requires clear and continual communications as well as a detailed training plan to make sure all those involved know what’s expected of them. As people learn by doing, on-the-job training is important, along with a readiness to keep iterating based on feedback. Crucially, the business owner needs to put in place incentives to reward new behavior based on criteria such as collaboration, product success, and internal product satisfaction.

Measure the change. If an organization is to systematically change its way of working and keep track of what’s happening, its management systems will need to evolve, starting with KPIs. Nontraditional metrics focused on digital adoption—such as new customer registrations on digital channels or digital-engagement levels for a particular product or service line—are often more useful than traditional metrics like return on investment in tracking the progress of a digital transformation.
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Accelerating Innovation with Rapid Learning Cycles

As innovators, we all want to do three key things:
Create something new, fantastic and disruptive
Bring it to the market fast enough to capture its value and grow our business
Do it again (and again, and again…)
But this is no easy thing, especially item 3, unless you take time to think about it and create a smooth path from idea to delivery. By contrast, structured, rapid innovation can be a repeatable process, and can disrupt your industry all on its own.
The Yamaha-Honda wars of the early-mid 1980s sharpen this point. Yamaha wanted to end Honda’s dominance of the motorcycle industry, so they built a huge production facility and announced they would increase volume and knock Honda down. Honda took a very different approach to the challenge. They used their superior R&D ability, launching something like 178 new motorcycles in the next 18 months, vs. a small fraction of that number by Yamaha.
The result was that the market moved. No customer wanted to buy the outdated technology and style offered by Yamaha. They wanted the new stuff offered by Honda.
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Can You Present Naked Like a Master? 

One of the most critical skills you need to master as an entrepreneur is presenting in front of groups. I’m still amazed when I see an otherwise engaging and passionate entrepreneur suddenly switch off their charm and go into presentation mode when they get up onto a stage.
The blunt truth is that investors, prospects, customers, and employees will all judge your company based on how well you can present it.
So, how do you hone this critical skill? Well, first off shed the popular adage about pretending the audience is in their underwear.
The fact is that you’re the one standing up there butt naked, which is why so many people try to hide behind their slide deck, When I coach speakers for my Master The Gig program the biggest challenge is getting them to walk out on stage without the safety net of a deck and instead step into their vulnerability and passion–you can’t do one without the other.
Whatever your strengths and weaknesses, they are on vivid display when you stand in front of an audience. Rather than shirk from them by hiding behind PowerPoint, show confidence by owning them and staying in the spotlight. Yes, I know it sounds counterintuitive, but when you present nothing is more powerful than naked authenticity.
“…when you present nothing is more powerful than naked authenticity.”
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Value Creation: CEOs Must Tip the Balance Towards Retention 

Value Creation: CEOs Must Tip the Balance Towards Retention  | digitalNow | Scoop.it
Very impressive, won’t you say? And if you were the CEO of or on the Board of companies wouldn’t you want to retain more Customers? Wouldn’t you make it your strategy? Wouldn’t you want to tip the balance in your favour?

So we should be hearing great success stories, great increase in profits. But we don’t hear these stories. Why?

Start by answering these questions:

1. Are HBR, Customer Value Foundation and Forrester and all the experts wrong? Y/N

2. Is this data overstated? Y/N

3. The CEOs and others don’t believe these numbers Y/N

4. Or they do, but their training of focusing on shareholder returns, cutting costs, increasing efficiency and traditional ways of doing the done thing, prevents them from making a big change? Y/N



5. Or they do not know how to make the change? Y/N

6. They are happy with the status quo Y/N

7. They are balancing the focus on various stakeholders in favour of the owners Y/N
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Treat Website Visitors as Respected Guests: Learn From the Bedouins

Treat Website Visitors as Respected Guests: Learn From the Bedouins | digitalNow | Scoop.it
“It’s not just that they take you in, it’s the fact that there are no questions asked.” I overheard a colleague gushing to her officemates about her recent experiences with a Bedouin host in Egypt’s Sinai Peninsula.

She was referring to the Bedouin tradition of unconditional hospitality. The tradition is similar to other hospitality customs worldwide. Yet the Bedouin apply a unique twist. They honor the guest’s emotional, as well as physical, state1. They do not force their guests to change — they allow them to be themselves. 

Only after they have housed, fed and watered a guest for three days do hosts have the right to question his or her origins and plans — and even this must be in a respectful and considerate way.

Your Customers Are Your Valued Guests
Walking away, I had a minor 'Eureka' moment which resulted in a spilled cup of coffee. But the lost coffee was worth it.
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Your Single Customer View Isn’t as Good as It Could Be

Your Single Customer View Isn’t as Good as It Could Be | digitalNow | Scoop.it
A single customer view (SCV) is a marketing best practice that’s key for differentiated customer engagement.

With a single customer view, marketers can send relevant messages, respond rapidly and appropriately and gain the kind of ongoing customer loyalty that drives revenue growth.

We need more insights about our customers, faster, to support customer experience initiatives and to map the winding journeys our customers make. But an SCV is also a moving target: In an era of data and channel proliferation, a true SCV needs a more comprehensive data strategy than we’re used to.

An End-to-End Data Strategy
Eighty-one percent of marketers struggle to create a single view of customers, according to a 2016 survey by Experian. Adding to that struggle is a false sense of security among some marketers, whose application-centric approach to an SCV is painfully out of date.
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The hidden toll of workplace incivility

s the workplace becomes faster-paced, more technologically complex, and culturally diverse, civility matters. Among other things, it helps dampen potential tensions and furthers information sharing and team building.

Yet workplace incivility is rampant and on the rise. The accumulation of thoughtless actions that leave employees feeling disrespected—intentionally ignored, undermined by colleagues, or publicly belittled by an insensitive manager—can create lasting damage that should worry every organization. In research over the past 18 years, I have polled tens of thousands of workers worldwide about how they’re treated at work. Nearly half of those surveyed in 1998 reported they were treated rudely at least once a month, a figure which rose to 55 percent in 2011 and 62 percent in 2016 (exhibit). There’s no single reason for the trend. Workplace relationships may be fraying as fewer employees work in the office and feel more isolated and less respected. Some studies point to growing narcissism among younger workers.1 Globalization may be causing cultural clashes that bubble beneath the surface. And in the digital age, messages are prone to communication gaps and misunderstanding—and unfortunately putdowns are easier when not delivered face to face.
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Memo to the CEO: Are you the source of workplace dysfunction? 

For leaders, there’s a more personal dimension that should be in play, as well: the recognition that we’re all capable, for a variety of reasons (exhibit), of being part of the problem. The risks of turning insensitive and unkind to others increase as you become more senior. Much research shows that being and feeling powerful provokes people to focus more on their own needs and wants, and to become oblivious to others’ needs and feelings. And as we all know, sh*t rolls downhill. Take the pompous and pushy board member labeled “the idea man” by one exasperated Silicon Valley executive team. This director constantly proposed new ideas on everything from business strategies to HR practices to tweaks and massive changes in products. In the CEO’s view, most of the ideas were terrible, yet the director placed constant demands on managers, creating unnecessary distractions and raising stress levels across the executive suite. This CEO devoted big chunks of time to deflecting and arguing with the board bully to protect his team members. That bolstered their well-being and contributed to stronger company performance.
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3 interviewing mistakes smart managers routinely make

3 interviewing mistakes smart managers routinely make | digitalNow | Scoop.it
Clarify what you’re looking for. To make the best use of the short time you have with a candidate, know in advance the specific skills, capabilities, experiences, relationships and cultural fit factors required for the job.
Review candidate materials. Perusing the application, resume, and social media resources in advance allows you to be more efficient. You won’t waste valuable time covering the same ground in the interview – but instead be able to take that knowledge to another level.
Identify a handful of focused, open-ended questions that will get people talking about what they’ve done relative to what you’re looking for. (And there are many online resources that offer question libraries from which to choose.) Having a questioning game plan allows you to focus your attention on candidate answers and teasing out details rather than figuring out your next question.
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Acquiring the capabilities you need to go digital 

To better compete, the travel company and others like it need to adopt a dynamic approach to accessing digital capabilities from outside the organization. In large part, this will require learning to balance the two speeds at which IT organizations must operate—integrating slowly changing legacy transactional back ends with more dynamic customer-facing front-end systems and applications.4 Specifically, we believe companies must take a closer look at their digitization targets, operating models, and capability-building practices in the context of this two-speed architecture. In this way, they will be able to scale up nascent digital initiatives quickly and sustainably: accelerating the use of emerging technologies, aligning the fragmented activities being pursued by individual business groups, and developing vendor relationships that can evolve with customers’ changing needs.

Sourcing for digital is differe
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Why Are Organizations Hiring New CIOs?

Why Are Organizations Hiring New CIOs? | digitalNow | Scoop.it
General dissatisfaction with tech leadership and IT support—as well as significant changes in company direction—are the most likely reasons that an organization will look to change its CIO, according to a recent survey from Deloitte. The accompanying report, "Taking Charge: The Essential Guide to CIO Transitions," indicates that stakeholders most frequently look for leadership and credibility in executive job candidates. They're also interested in whether a potential CIO demonstrates proven strategic thinking skills and the ability to align with the business. In addition, given the perceived issues with tech support, they want a CIO who's willing to revamp the existing IT culture and talent base. "CIOs will likely face many challenges and difficult decisions as they navigate the triangle of time, talent and relationships," according to the report. "This means creating a vision for prioritizing key business initiatives, developing talent and culture, and enhancing governance and operating models to build deeper business relationships. Increasingly, this also means crafting a digital strategy and stepping up as the digital leader of the organization by building multifunctional, agile, empowered teams that are accountable to deliver business impact; developing real-time information systems to support decision making; and encouraging staff to … experiment and adapt." More than 600 CIOs, C-suite executives and business leaders took part in the research.
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Navigating Disruption

Navigating Disruption | digitalNow | Scoop.it
Customers have gained new power in their relationships with businesses over the past decade or so, thanks in large part to the ubiquity of technology and widespread access to information. “In the past, the company could dictate how it would serve its customers,” says Linda Pawczuk, a principal with Deloitte Consulting LLP. Today, that’s typically no longer the case. Instead, many companies are scrambling to keep up with ever-shifting customer demands and modes of delivery. For CIOs, that often means transforming their IT operating models.

“It’s table stakes to deliver the operations of IT—that’s turning on the lights,” Pawczuk says. “The question is how to leverage technology to serve customers whose expectations and demands have changed and will continue to change.”
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Firms Are Hurt by Bad Website & App Performance

Firms Are Hurt by Bad Website & App Performance | digitalNow | Scoop.it
A majority of consumers said poor website or app performance will negatively affect their brand loyalty, according to a recent survey from Apica. The resulting report, "Digital Desertion: The Rise of Consumer Web and App Expectations and the Impact of Negative Experiences," reveals that a notable share of survey respondents said slow-loading pages and apps would cause them to never return to a site for goods or services. So how long is too long to wait? For most survey respondents, 20 seconds represents the cut-off point. What's more, if they get fed up with these issues, there's a high likelihood they'd tell their friends and colleagues about the negative experience, further damaging a brand's reputation. "Digital consumers have limited patience for slow performance or delays," said Carmen Carey, CEO of Apica. "There is clearly a general expectation that sites and apps will perform faster and better, particularly with the advent of 'born digital' organizations. The onus is now on businesses, whether they're a leading financial company or an online retailer, to ensure peak performance at all times." A total of 1,000 users and consumers took part in the research.
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The Single Most Important Thing to Innovate Is Yourself

Building a New Box
One had come with his wife who was struggling with Alzheimer’s. Together they had built one of the leading businesses in its field. Throughout the event she was by his side, often not grasping who everyone was or what was being talked about. Yet, they were there together. He was still passionately pursuing his dreams, while caring for her. And she was still there with him.
Is it a stretch to try and tie this extraordinary commitment and love to the greater challenge we all have in making decisions about giving up when we are faced with tough circumstances? I don’t believe so. If we hold true to our values and principles then there is never such a thing as giving up, there are only detours.
But staying on course means that you have to know what these values are and you have to live them. It’s not just that you need to get out of the box, but rather that you need to adjust to entirely new boxes, whose dimensions and shapes stretch us to our limits. If you’re not ready to be surprised and fit yourself and your views to these new dimensions don’t expect the world to do it for you.
As my very astute son once said to me, “Dad if you can’t get out of the box do you just decorate it nicely?” Isn’t that what many people settle for, nicely decorated boxes that they can’t stand to be in? You know, the comfortable ones with tall sides that obscure the challenges and opportunities just beyond their perimeter. Isn’t that why you’re an entrepreneur–to build your own box?
“Dad if you can’t get out of the box do you just decorate it nicely?”
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How Innovation Will Affect Aging and the Elderly

The Revolution Against Aging and Death (RAAD) conference is giving reason for scientists and researchers around the globe to coalesce and discuss anti-aging. Director of Coalition for Radical Life Extension, James Strole, told CBS “there are several scientifically proven modalities out there to help reverse aging, and possibly bring you back to your biological age of 25. Extending or lengthening telomeres, gene editing and gene therapy are just a few.”
The Downsides: Loneliness and Cyber Vulnerabilities
It’s important to realize that there are downsides to some of these innovations and advancements too. Bradley University’s Online Program mentions some of them in their online article “Six Healthcare Trends to Watch in 2017” including the influence of Big Data and emphasis on data security. If we’re not careful, we’ll relegate the elderly to being statistics and numbers a la big data, instead of the people with names, faces, families, and interests that we’re supposed to be caring for in the first place.
As far as cybersecurity goes, earlier this year we saw just how destructive a cyberattack can be on global healthcare systems when WannaCry was unleashed upon the world. These systems are prime targets for cyber criminals because they protect our most vulnerable citizens — those that cannot care for themselves. Before we move fully onto implementing innovations that will serve our senior citizens, we need to make sure that they work as intended and are truly serve them positively in the first places.
Nevertheless, it’s an exciting time to be alive if you’re interested in technology. Not only are the innovations that spring up every day exciting, they may keep you alive long enough to see the innovations of tomorrow. Perhaps those innovations will continue the cycle. Who knows; perhaps some day innovation and technology will halt aging altogether.
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Scaling a transformative culture through a digital factory

Scaling a transformative culture through a digital factory | digitalNow | Scoop.it
A new culture

We have identified several must-haves for the culture of a successful digital factory.

Act like venture capitalists. Taking a venture capitalist’s approach to the digital factory means fast decision making driven by clear objectives and criteria. If the business case for funding each journey takes months to approve, the digital factory isn’t going to work. Initial funding for a product (a customer journey or process, for example) should be based on a good idea and a basic case—not endless rounds of analysis. But then the project team needs to show progress at agreed-on milestones in order to get further funding.

The head of the digital factory and the business owner jointly track projects based on set KPIs, working with the team to evaluate and adjust the program in line with real results. If the program makes it through the process, it’s transitioned to the business, and factory leaders redirect funding to new products. If, on the other hand, the new journey or process can’t achieve its goals by a given milestone, then the leadership team kills it.
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Engaged Leadership Is Key to Effective Security

Cyber-security technology solutions continue to advance, as do cyber-attack methods. Yet we see the same vulnerabilities being exploited year after year.

If we worry too much about sophisticated zero-day attacks or become distracted by the overblown promises of the latest software package, we continue to neglect the elements that are proven to protect or expose us. Verizon’s "2017 Data Breach Investigations Report" points out once again that it’s the fundamentals that will be our undoing —but they could also be our saving grace.

A vast majority of breaches (88 percent) fall into one of nine attack patterns—the same nine patterns Verizon identified three years ago. Phishing is still among the most prevalent attack vectors, and lots of people are still falling for it: The report found that one in 14 users had opened a phishy link or attachment, and a quarter of them did it more than once.
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Exploring the Ethical and Social Implications of AI

Exploring the Ethical and Social Implications of AI | digitalNow | Scoop.it
“People attribute mental states, desires and beliefs to things that don’t have them," said Vallor, which opens the door to vulnerability, manipulations and deceit.

AI is inherently hungry for data, so it wants to keep you engaged, according to Vallor. This can create problems, like people becoming more engaged with AI than with other humans.

Imagine an artificial agent following you around saying, "I am lonely. I'm bored. Could you talk to me about movies you like?" The end result, in some situations, could yield time taken away from spouses, children and friends. And, of course, greater amounts of data for marketers who want to manipulate you to get your money.

"We need to think about the way we interact with these systems. We, without thinking, develop emotional and morally-laden relationships with artifacts. This will take-off very quickly and have consequences we didn't expect," said Vallor.

AI Mirrors Our Biases
The panel also noted these interfaces and systems weren't being designed, developed or trained by a diverse group of experts. Meaning sentiment and content analysis could potentially be non-existent for minority groups, including the elderly. After all, if a bot doesn't understand you, it can't take the right action for you, which
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4 Things You Need to Build an Innovative Culture – Innovation Excellence

1. A Focus On Problem Solving
When you think about an innovative culture what probably first comes to mind is a bunch of fast moving hipsters guzzling down energy drinks and pulling all-nighters, pausing only to play a quick game of foosball or frisbee. Or maybe Steve Jobs on stage with a devilish grin just before he wows the audience with “one more thing…”
Yet in researching my book, Mapping Innovation, I found that very few of the organizations I studied looked like that. Some were fast moving startups, but most of the successful ones were led by executives that were mature and thoughtful, not brash or erratic. Others were large corporations and world class labs that tended to be fairly conservative.
The one thing I found in common in every fantastically innovative place I looked at was a disciplined passion for identifying new problems. Unlike most organizations, which are content to struggle with everyday issues, the enterprises I studied had a systematic method of finding new problems to work on that would take them in new directions.
The approaches vary considerably. IBM creates grand challenges, like building a computer that can beat humans at Jeopardy. Experian set up a Datalabs division to find out what’s giving its customers “agita” and launch new business off the solutions they build. Google’s “20% time acts as a human-powered search engine for new problems.
We tend to think of innovation as fast moving, but the truth is that it usually takes 30 years to go from an initial discovery to a measurable impact. So the “next big thing” is usually about 29 years old. If you want to innovate effectively, don’t chase the latest trend, find a problem your customers will care about and solve it for them.
2. Create Safe Spaces
In 2012, Google embarked on an enormous research project. Code-named “Project Aristotle,” the aim was to see what made successful teams tick. They combed through every conceivable aspect of how teams worked together — how they were led, how frequently they met outside of work, the personality types of the team members — no stone was left unturned.
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Increasing the ‘meaning quotient’ of work

Increasing the ‘meaning quotient’ of work | digitalNow | Scoop.it
We’ve long been interested in work environments that inspire exceptional levels of energy, increase self-confidence, and boost individual productivity. When we ask leaders about the ingredient they think is most often missing for them and for their colleagues—and by implication is most difficult to provide—they almost invariably signal the same thing: a strong sense of meaning. By “meaning,” we and they imply a feeling that what’s happening really matters, that what’s being done has not been done before or that it will make a difference to others.

The idea of meaning at work is not new. Indeed, two contributions to McKinsey Quarterly1 over the past year have highlighted this theme. In one, the authors demonstrate how misguided leaders often kill meaning in avoidable ways. The author of the other suggests that “meaning maker” is a critical role for corporate strategists. In this article, we will show from our research how meaning drives higher workplace productivity and explain what business leaders can do to create meaning.

Meaning and performance

The mental state that gives rise to great performance—in sports, business, or the arts—has been described in different ways.
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6 tips for managing personal stress

6 tips for managing personal stress | digitalNow | Scoop.it
One of the greatest challenges for professionals is to leave behind their personal challenges when they enter the workplace. We all have a job to do, but when there are struggles at home or with family, such as illness, financial pressures or familial discord, it can be really difficult to hunker down and focus enough to get work done.
For leaders, situations such as these can be even more of a challenge. Not only are they responsible for their own work, but they must see to it that their workforce remains productive as well. Furthermore, leaders oftentimes feel compelled to put on a show of control if not invincibility as part of their leadership persona. Allowing for weakness to show, they feel, can greatly diminish the leadership stature that they so deeply value.
(The irony of such thinking is that while, as David Dotlich points out, great leaders are praised for their successes, “paradoxically, what makes good leaders great are the trials and tribulations of failure … Leaders who have endured adversity are most likely to be the ones with the resilience and resolve to succeed.”)
What can leaders do at times of difficulty in their personal lives to stay focused on what needs to be done at work and be present, in body and mind, for their people? Here are a few suggestions:
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Digital Transformation Stalled by Cultural Issues

Digital Transformation Stalled by Cultural Issues | digitalNow | Scoop.it
There's a huge difference between how companies' executives believe they are encouraging a digital culture and how employees think their leadership is doing, according to a recent survey from Capgemini and Brian Solis, a prominent digital analyst and author. The resulting report, "The Digital Culture Challenge: Closing the Employee-Leadership Gap," reveals that cultural issues create the biggest hurdle to a digital transformation. Leaders, for example, are convinced that collaboration flows freely throughout functions and business units, but employees said that isn't the case. Leaders also think they've cultivated a culture of innovation, experimentation and risk-taking, while few workers agree. Findings indicate that similarly differing impressions linger with respect to stifling bureaucratic channels, a lack of opportunities to share ideas with executives and a reluctance to invest into the digital capabilities of staffers. "Digital technologies can bring significant new value, but organizations will only unlock that potential if they have the right digital culture ingrained and in place," according to the report. "Currently, that is not happening. Employees are being sidelined and disenfranchised in the culture change journey, and the gap between leadership and employee perceptions is stark. … Organizations that invest in people, and align the values and mission of the company to employees, set the stage for working with purpose. Ultimately, this creates an ecosystem that promotes learning, experimenting and growth."
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Businesses Must Be Able to Handle Mobile App Issues

Businesses Must Be Able to Handle Mobile App Issues | digitalNow | Scoop.it
Mobile technology is fundamentally changing the way business is conducted, and mobile apps are increasingly important to employees. In fact, many workers are requesting or suggesting apps for their specific roles and departments. "The App Dilemma: Meeting the High Expectations of Business," a report conducted by Wakefield Research and sponsored by Kony, reveals that enterprises recognize the need for apps, but are struggling to find the best way to develop them. The survey identified issues with both internally and externally developed apps. "Digital is impacting customer behaviors and even employee demands, forcing enterprises to rethink their application strategies," said Carlos Carvajal, chief marketing officer at Kony. "Businesses face major hurdles, including the high cost of app development and app management headaches. These are impeding digital innovation and hindering further investment in enterprise applications." Despite the importance of apps to business success, 27 percent of the study participants felt their IT department deprioritizes the mobile app strategy. The survey targeted 1,000 global line-of-business executives at companies with 1,000-plus employees across industries including banking/finance, healthcare, energy, utilities and marketing/sales. The majority of respondents were in the United States, but the survey also included respondents from 17 countries throughout the world.
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Urban commercial transport and the future of mobility

Traffic is bad, and getting worse. In London, a trip that took 20 minutes in 2012 takes almost 25 minutes now, while the average resident of Los Angeles spends the equivalent of more than two full work weeks in traffic every year. Congestion is not just annoying; it is expensive. When commercial vehicles get stuck, businesses rack up higher fuel and labor costs.

Improving these conditions will be difficult. By 2030, a billion more people will live in cities. Spending on infrastructure, on the other hand, is not keeping pace. To cope, individuals and businesses are going to have to use roads and other assets better and be ready to adopt new technologies.
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Does the Internet of Things Create Risks?

Does the Internet of Things Create Risks? | digitalNow | Scoop.it
It's increasingly clear that the internet of things (IoT) presents new and sometimes remarkable opportunities. However, it also represents risks and potential security problems for organizations. "The Internet of Things (IoT): A New Era of Third-Party Risk," a new report from the Ponemon Institute that's sponsored by Shared Assessments, offers insights into the emerging space—particularly third-party factors. The survey of 533 business and IT executives involved with IoT and risk management processes found that while most organizations are aware that they are vulnerable to IoT attacks and breaches—in fact, most believe they will at some point fall victim to an IoT cyber-attack—few are adequately prepared. According to the research, companies rely on technologies and governance practices "that have not evolved to address emergent IoT threat vectors." These risks include the ability of criminals to harness IoT devices (such as botnets), to attack infrastructure and launch points for malware propagation, distributed denial of service (DDoS) attacks and anonymizing malicious activities. Here's a look at some of the key findings.
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