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Fixing the capitalist machine

Fixing the capitalist machine | Excellent Business Blogs | Scoop.it

 

Schumpeter Column from The Economist. 

 

Fixing the capitalist machine: Some sensible ideas for reviving America’s entrepreneurial spirit.

 

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Excellent Business Blogs
The best blog posts from fresh thinking and inspirational business people, scientists and economists
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About Excellent Business Blogs

About Excellent Business Blogs | Excellent Business Blogs | Scoop.it

Leaders cannot win in today’s business world with yesterday’s tools and strategies. In a slower moving, less confusing and more predictable world, things just didn’t change too much, too often or too dramatically.


The problem now is that world does not exist any more! As a result, the mindsets, attitudes, beliefs, processes and leadership competencies that have served us in the past, are not likely to be appropriate today, or in the near future. Leaders need to discover what’s next and play an active role in enacting the change.



The purpose of this site - Excellent Business Blogs - is to highlight some of my favorite articles, videos, graphics and audio that offers a fresh perspective on the transition we face in the modern workplace. 


My personal aim is to provide you with stories you can learn and grow from. The kind of stories that provokes personal reflection and constructive action. 

 

You're welcome to connect via: 

 

LinkedIn: www.linkedin.com/in/kennethmikkelsen


Google+: https://plus.google.com/+KennethMikkelsen


Twitter: www.twitter.com/LeadershipABC

 

Enjoy!

 

Kenneth


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Making Mergers Work

Making Mergers Work | Excellent Business Blogs | Scoop.it

Executives too often overlook the vital question of identity when seeking synergies from mergers and acquisitions.

Kenneth Mikkelsen's insight:

The editors of MIT Sloan Management Review just announced the winners of the Richard Beckhard Memorial Prize.


This year's winners are Hamid Bouchikhi and John R. Kimberly for their article "Making Mergers Work" in which they discuss the importance of identity integration in successful mergers and
acquisitions.


The authors examine why mergers and acquisitions so often fail to achieve the results and synergies they promise. The article argues that much of the difficulty lies in the failure of executives of the acquiring company to seriously consider the quite different ways that not only operational but also psychological integration between previously separate corporate entities can be achieved.


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New Report: Does HR Matter in Innovation? Is there Innovation in HR?

New Report: Does HR Matter in Innovation? Is there Innovation in HR? | Excellent Business Blogs | Scoop.it

Many of the challenges faced by an organisation wanting to innovate boils down to talent management, areas often directly under the influence of HR. In this study, we explore whether HR has become a partner yet in innovation.

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Your Workforce is Disengaged: Here’s What To Do About it

Your Workforce is Disengaged: Here’s What To Do About it | Excellent Business Blogs | Scoop.it

Change is in the air. With disruptive technologies hitting businesses from the outside in and the inside out, how companies invest in technology and ultimately how people use it to get work done is under significant re-evaluation.

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Why The Term "Innovation" Needs A Universal Standard

Why The Term "Innovation" Needs A Universal Standard | Excellent Business Blogs | Scoop.it

The definition of the word "success" in the business world is almost always interchangeable for “profitable.”


When that word is used in boardrooms and executive speeches, the meaning is usually pretty clear.

But what does the word "innovation" signal?


It’s been perhaps one of the biggest corporate buzzwords and initiatives for decades. Mention the word innovation to two people in the same organization and what are the chances they would give you the same definition?


They would probably apply it to different functions as well. Is innovation a new product line? Does it represent an improved process for efficiency? Is it a great idea?


The answer, simply, is yes.

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How the Internet of Things Changes Business Models

How the Internet of Things Changes Business Models | Excellent Business Blogs | Scoop.it

As the Internet of Things (IoT) spreads, the implications for business model innovation are huge. Filling out well-known frameworks and streamlining established business models won’t be enough. To take advantage of new, cloud-based opportunities, today’s companies will need to fundamentally rethink their orthodoxies about value creation and value capture.


Kenneth Mikkelsen's insight:

Value creation is no longer one-and-done.

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Creating Partnerships for Sustainability

Creating Partnerships for Sustainability | Excellent Business Blogs | Scoop.it

Companies are increasingly expected to join with other organizations - both public and private - to address social and environmental problems. Here are seven ways to make such alliances successful.

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Adapt to a New Culture – but Don’t Go Too Far

Adapt to a New Culture – but Don’t Go Too Far | Excellent Business Blogs | Scoop.it

Over-switching is a natural part of the adaptation process. The trick isn’t to make it go away; it’s to try your best to convert these inevitable errors into valuable learning opportunities. First, you need to understand the cultural code.

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The Innovative Employee: Traits, Knowledge and Company Culture

The Innovative Employee: Traits, Knowledge and Company Culture | Excellent Business Blogs | Scoop.it

How can a companies’ ability to innovate be improved?All innovation activity can be traced back to the behavior of employees. That makes the employee the center point of attention, if you want to improve your innovation ability. 

Kenneth Mikkelsen's insight:

This article is built around the question: Which personal abilities and traits as well as organizational culture enable an employee to be innovative?

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Nine HR Policies That Drive Good People Away

Nine HR Policies That Drive Good People Away | Excellent Business Blogs | Scoop.it

There is a particular, awful feeling you get working in a company that is sinking. You can tell the minute you walk in the door that the energy is off.  If you pay attention to the vibe you get on a job interview, you’ll know when a company is broken. People don’t look you in the eye. No one wants to be there, but you might take the job regardless if you’re out of other options.

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Tony Brugman (Bright & Company)'s curator insight, July 21, 10:34 AM

What kills a company? Incompetence and fear! Read the 9 'fear-based' HR policies that will 'scare' people away...

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Organising for Innovation: Old Ideas about New Ideas

Organising for Innovation: Old Ideas about New Ideas | Excellent Business Blogs | Scoop.it

Good organisation design can help companies become more innovative, but first you have to understand the nature of “new ideas” and how to generate them.

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Darrin J Wikoff's curator insight, July 7, 9:40 AM

Innovation occurs when you are forced to "solve a problem that you can't buy your way out of".  This is a great article about the true nature of innovation. To become excellent our business culture must thrive on innovation and recognize when standardization is our greatest constraint.

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Market Specialist Vala Afshar On the Future of Social Business

Market Specialist Vala Afshar On the Future of Social Business | Excellent Business Blogs | Scoop.it

Market expert Vala Afshar explains how to stay competitive in an ever-changing digital world.

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Adapt or Perish? How About Neither?

Adapt or Perish? How About Neither? | Excellent Business Blogs | Scoop.it

The business environment is changing - adapt or perish, some say. But there's a third choice - invent the future ourselves. Here are three skills that we need to help us do this.


Via John Hovell
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Culture Eats Strategy – Innovation Psychology Explored

Culture Eats Strategy – Innovation Psychology Explored | Excellent Business Blogs | Scoop.it

The late, great Peter Drucker said “Culture Eats Strategy for Breakfast”.  Of his many insights, this might be the most important for Innovation.  However, just as a fish doesn’t see the water, culture is often invisible to those that operate inside of it, and can therefore be difficult to influence or even evaluate. Unlike strategy, which can be mapped out in a memo, or innovation processes, which can be taught at an offsite, culture needs to be grown and nurtured over time. When it is, it can be both powerful and resilient, even if it isn’t always obvious. 

Kenneth Mikkelsen's insight:

Excerpt from the article: 


So what is a great Innovation culture, and where can I buy one?  There is no one size fits all, but there are some components that are almost universally important for Innovation.


1.  Autonomy and Purpose: There is a significant body of evidence that suggests for creative tasks, as long as people receive enough compensation to be comfortable, it is intrinsic, rather than extrinsic motivation that drives performance.   That is, autonomy, alignment with purpose, and respect are all more likely than money to have a team ordering pizza at 9pm because they cannot put a problem down.  If you want to dig deeper into this, Dan Ariely has done a lot of work in this area, and Dan Pink has an excellent video/TED talk where he discusses the power of  Autonomy, Mastery and Purpose in driving intrinsic motivation.


2.  Mastery and T-Shaped Innovators: Mastery is critical.  We need to be very lucky to create something innovative without knowing what’s gone before.  The more established the field, the more mastery is typically needed, and acquiring it should be a life long process that evolves with the field, something that a learning culture should encourage.  A culture that values mastery can also value a fresh perspective, but without mastery, nine times out of ten, this will simply reinvent the wheel.  Interestingly, mastery comes in at least two flavors.  Deep knowledge of a subject is of course crucial, but emergent innovation usually comes from the integration of ideas from different areas.  This is where T-shaped innovators, or expert generalists become crucial to the process.  A culture therefore needs to reward both experts in a single field, and these more diversified experts who know a lot about a lot of different stuff, and who can bridge between experts.


3.  Failure as learning and Respect.  It’s now quite fashionable to embrace fast failure, but in many cases there remains a knowing-doing gap.  It’s easy to thoughtfully build it into a strategy, but still freak out when bad data comes in just ahead of an important stage gate in the process!  Also related to this is the productive pause, and taking time out to define a problem.  It is easy for a culture to become action orientated, and reward energetic ‘doers’.  However, taking time out to really define a problem, and think before acting can be at least as important. Respect lies at the heart of these cultural concepts, as few people will willfully fail, or sit around doing nothing.  A culture of respect assumes this.


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Eric Anderson's curator insight, August 24, 11:49 PM

Worth the read!

 

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Is the Web Really a Gift From God?

Is the Web Really a Gift From God? | Excellent Business Blogs | Scoop.it

As a company it is crucial to have your own social media policy and design, working out a clear-cut, preventive strategy.


Many companies, no matter how big, often delegate these tasks to their tech department, social media lab or innovation guys. Deadly wrong.


To be strong online, with a clear identity and an original message, you need vision, not a bunch of media-wise kids showing up at work in shorts and flip-flops. Is the CEO aware of the ambiguities, power and cunning ways of the web?


Has the board agreed on a common perspective, how to link to your clients, how to shape your own community, how friendly you want to appear on Twitter, Facebook, Pinterest?

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The 6 Elements of Persuasion

The 6 Elements of Persuasion | Excellent Business Blogs | Scoop.it

When you want to get your customer to say yes, keep these principles in mind.


Via Stefano Principato
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How To Scale Company Culture For Competitive Advantage

How To Scale Company Culture For Competitive Advantage | Excellent Business Blogs | Scoop.it

Given the speed and skill with which today’s companies move -- especially technology businesses -- competitive advantage derived from a product or idea can be erased at a moment’s notice. But strong culture never dies. Culture isn’t just a set of inspirational sayings and wall ornaments. Culture is what you collectively believe and -- in practice -- what you collectively do.


How can companies make culture systemic?  First and foremost, make it endemic to personnel decisions.  Put culture at the core of why you hire, fire and promote people.


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Chris Anderson on Why Community-Driven Companies Will Always Win

Chris Anderson on Why Community-Driven Companies Will Always Win | Excellent Business Blogs | Scoop.it

Communities are essential agents for change in an era of open innovation. The CEO of 3D Robotics—and former editor in chief ofWired—shares his own experience in harnessing the power of communities. He also explains how traditional companies can tap into this disruptive force.

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"Weird Al" Yankovic - Mission Statement

An ode to management buzzwords - or corporate bullshit if you will - from Weird Al Yankovic.

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Moving Beyond Marketing

Moving Beyond Marketing | Excellent Business Blogs | Scoop.it

The 2014 research report by MIT Sloan Management Review and Deloitte finds clear evidence that companies across industries are creating value with social business.


A key finding is that social business value is a function of social business maturity.


This year’s report details the drivers of that maturity and how companies are using social business to transform their organizations and reap greater gains from their social business efforts.

Kenneth Mikkelsen's insight:

Download the full report here

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David Hain's curator insight, July 16, 10:45 AM

How mature is your business in terms of managing #SocialCapital?@RobPeters @thomaspower

Gary Bamford's curator insight, July 17, 3:39 PM

It's good to be social ...

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Mastering Digital Marketing

Mastering Digital Marketing | Excellent Business Blogs | Scoop.it

The era of the traditional marketing campaign is ending. In this interview, McKinsey’s David Edelman explains what companies get wrong when it comes to digital marketing and the changes needed to better engage consumers.

Kenneth Mikkelsen's insight:

To understand the changing nature of marking I strongly encourage you to also read the July/August 2014 edition of Harvard Business Review. In particular this article: The Ultimate Marketing Machine.


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Agile Business Model Innovation

Agile Business Model Innovation | Excellent Business Blogs | Scoop.it

Business model innovation(BMI) is risky, but when companies do it with agility, they thrive. This article looks at how Return Path, the global leader in email marketing, met the challenge of applying BMI successfully. The authors interviewed up to 700 CEOs to better understand BMI drivers.

Kenneth Mikkelsen's insight:

Business model innovation is the development of novel configurations of resources and transactions to create new markets or serve markets in new ways.

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GE Global Innovation Barometer 2014

Two-thirds of executives surveyed for the GE Global Innovation Barometer believe businesses have to encourage creative behaviors and must disrupt their internal processes in order to do so. They are taking action, embracing the need to transform and adapt to an unprecedented - and at times undefined - reality. 



Kenneth Mikkelsen's insight:

Check the GE Ideas Lab website for further information. 


I also suggest that you read Paul Hobcraft's excellent blog post about the report here

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Four Questions to Revolutionise Your Business Model

Four Questions to Revolutionise Your Business Model | Excellent Business Blogs | Scoop.it

Innovation is about more than groundbreaking technology. Rigorous, systematic questioning of risks in your business model can unleash opportunities for game changing performance improvements.

Kenneth Mikkelsen's insight:

In their new book The Risk-Driven Business Model: Four Questions That Will Define Your Company, Karan Girotra and Serguei Netessine want companies to answer four questions: Who, What, When, and Why in order to revolutionise their business model.


Watch also this related video: The Risk-Driven Business Model.


Karan Girotra blogs on HBR here. Follow him on Twitter: @Girotrak.


Serguei Netessine blogs on HBR here. Follow him on Twitter: 

@snetesin





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How to Kill Quarterly Earnings Guidance

How to Kill Quarterly Earnings Guidance | Excellent Business Blogs | Scoop.it

Quarterly earnings guidance has outlived its usefulness.


There are instances when it might be perfectly legitimate and value enhancing to issue earnings guidance in an effort to inform the market about material disruptions, shifts in the business model etc., but on the whole, the practice is not a helpful way of building a sustainable business that is geared to succeed in the long-term.


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The New Face of Uncertainty

The New Face of Uncertainty | Excellent Business Blogs | Scoop.it

Uncertainty is a double edged sword in the human experience - it provides us with excitement, but it also causes us a great deal of stress and discomfort. One of the tricks of life is learning how to stay on this razor’s edge between adventure and catastrophe.


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