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How Do You Find The Time For Social Media?

How Do You Find The Time For Social Media? | Excellent Business Blogs | Scoop.it

How do you find the time for social media? The answer is simple: You make the time for social media. 

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Strategy, not technology, drives digital transformation

Strategy, not technology, drives digital transformation | Excellent Business Blogs | Scoop.it

What’s the most important driver of organizational digital maturity—social, mobile, analytics, or cloud? None of the above, according to the latest MIT Sloan Management Review and Deloitte digital business study.


Kenneth Mikkelsen's insight:

About the research

To understand the challenges and opportunities associated with the use of social and digital business, MIT Sloan Management Review, in collaboration with Deloitte, conducted its fourth annual survey of more than 4,800 business executives, managers and analysts from organizations around the world. The survey, conducted in the fall of 2014, captured insights from individuals in 129 countries and 27 industries and involved organizations of various sizes. The sample was drawn from a number of sources, including MIT alumni, MIT Sloan Management Review  subscribers, Deloitte Dbriefs webcast subscribers and other interested parties. In addition to our survey results, we interviewed business executives from a number of industries, as well as technology vendors, to understand the practical issues facing organizations today. Their insights contributed to a richer understanding of the data. Surveys in the three previous years were conducted with a focus on social business. This year’s study has expanded to include digital business.


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How a Corporate Cult Captures and Destroys Our Best Graduates

How a Corporate Cult Captures and Destroys Our Best Graduates | Excellent Business Blogs | Scoop.it

Universities should defend students against lovebombing by banks and consultancy firms – before it ruins their lives.



Kenneth Mikkelsen's insight:

Excellent column in The Guardian by @GeorgeMonbiot


Excerpt from the column:


To seek enlightenment, intellectual or spiritual; to do good; to love and be loved; to create and to teach: these are the highest purposes of humankind. If there is meaning in life, it lies here.


Those who graduate from the leading universities have more opportunity than most to find such purpose. So why do so many end up in pointless and destructive jobs? Finance, management consultancy, advertising, public relations, lobbying: these and other useless occupations consume thousands of the brightest students. To take such jobs at graduation, as many will in the next few weeks, is to amputate life close to its base.


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The Fatal Bias

The Fatal Bias | Excellent Business Blogs | Scoop.it

Overall cost leadership is not a viable strategy. This is the key discovery to have come out of the most extensive and thorough study of corporate performance ever conducted. Michael Raynor and Mumtaz Ahmed, both with Deloitte, examined the performance of more than 25,000 US companies over a 40-year period.


Their aim was to identify companies with sustained levels of high returns on assets and to find an explanation in terms of the strategies pursued by these companies. The most provocative of their ground-breaking findings challenges Michael Porter’s assumption that overall cost leadership is one of three generically viable competitive strategies.


Kenneth Mikkelsen's insight:

The prevailing managerial bias towards cost efficiency is seriously harmful to corporate performance.


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Disrupting Banking

Disrupting Banking | Excellent Business Blogs | Scoop.it

Can online P2P lenders deliver disruptive innovation to the world of banking?


The core reason why CEOs of commercial banks should have major strategic concerns about the threat these companies pose to their future profitability is simple – in the market for a wide and growing variety of loan types, from unsecured consumer loans to secured business loans, these loan platforms offer compelling absolute and relative customer value propositions.


Kenneth Mikkelsen's insight:

Banking may be on the cusp of an industrial revolution the upshot of which could be the most radical reconfiguration of banking in centuries.


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Beyond design thinking

Beyond design thinking | Excellent Business Blogs | Scoop.it

Design thinking without deep analysis and synthesis can be reckless. Leading companies are seeking to do both recursively and in integrated new ways to manage complexity, derive insights, and catalyze innovation in fast-changing ecosystems.


Kenneth Mikkelsen's insight:

Too often advocates of “design” overreach, regarding it as an elixir that can somehow transform conservative companies into creative ones. In the most egregious cases, advocates suggest design thinking can somehow replace nearly all other forms of analysis, planning, and strategy.


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How to Build a Meaningful Career

How to Build a Meaningful Career | Excellent Business Blogs | Scoop.it

Everyone aspires to have purpose or meaning in their career but how do you actually do that? What practical steps can you take today or this month to make sure you’re not just toiling away at your desk but you’re doing something you genuinely care about?


Kenneth Mikkelsen's insight:

we often pick jobs for the wrong reasons. We look for things that we’re proud to talk about at a cocktail party or look good on a resume. But rarely are those the things that translate to satisfaction.


Here are some practical steps you can take toward a larger goal. 


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The Networked Customer

The Networked Customer | Excellent Business Blogs | Scoop.it

All over the world, Companies have woken up with a social media hangover. After many years and dollars of investment in developing heavy duty social media programs and platforms, companies are now finding that they are forced to pay to engage with the audiences they worked so hard to build. They realize they have been renting their customer communities.


Kenneth Mikkelsen's insight:

Businesses that create online communities with their customers will realize more value and have a healthier lifespan than their competitors who don’t.


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Make It OK for Employees to Challenge Your Ideas

Make It OK for Employees to Challenge Your Ideas | Excellent Business Blogs | Scoop.it

Kodak. Sears. Borders. The mere mention of any of these companies brings to mind the struggle to stay relevant amid today’s technology and boundless alternatives.


Via Chris Shern
Kenneth Mikkelsen's insight:

Too many leaders — especially senior ones — inhabit “white space” where they are isolated from critical information and feedback.  



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Chris Shern's curator insight, May 7, 4:16 PM

This is basically at the heart of the Danish management style. It is extremely effective to ensure everyone is heard which I feel is vital in an organisation. 

It most certainly requires a strong leader.

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The Eight Essentials of Innovation

The Eight Essentials of Innovation | Excellent Business Blogs | Scoop.it

Strategic and organizational factors are what separate successful big-company innovators from the rest of the field. 


Kenneth Mikkelsen's insight:

Big companies do not easily reinvent themselves as leading innovators. Too many fixed routines and cultural factors can get in the way. For those that do make the attempt, innovation excellence is often built in a multiyear effort that touches most, if not all, parts of the organization.


Research suggest that any company looking to make this journey will maximize its probability of success by closely studying and appropriately assimilating the leading practices of high-performing innovators. Taken together, these form an essential operating system for innovation within a company’s organizational structure and culture.


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The Power of Platforms

The Power of Platforms | Excellent Business Blogs | Scoop.it

What’s increasingly evident is that every company now needs to have an explicit platform strategy – to create one or to avail themselves to those of others.

Kenneth Mikkelsen's insight:

Properly designed business platforms can help create and capture new economic value and scale the potential for learning across entire ecosystems.


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Is Any Industry Safe From disruption?

Is Any Industry Safe From disruption? | Excellent Business Blogs | Scoop.it

The common denominator across every disruptive scenario is the growing urgency for scenario analysis and response generation. The historical challenges that traditional companies have with rapid experimentation and prototyping are a growing concern. Not all responses are viable responses, and the days of spending years and millions evaluating alternatives are gone.


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Scott Brown's curator insight, May 10, 4:24 PM

No.  But seeing the light coming down the tracks is a rare talent.  

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Do happy employees lead to higher profits?

Do happy employees lead to higher profits? | Excellent Business Blogs | Scoop.it

Alex Bryson examines the latest research establishing a link between the wellbeing of a company's employees and its profits and productivity.


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Few Companies Actually Succeed at Going Global

Few Companies Actually Succeed at Going Global | Excellent Business Blogs | Scoop.it

We all like to learn from the best. So when it comes to growth it’s tempting to take global high-performers like GE, IBM, Shell, or BMW as role models and look for opportunities outside the home markets.

Kenneth Mikkelsen's insight:

An analysis of 20,000 companies in 30 countries, shows that companies selling abroad had an average Return on Assets (ROA) of minus 1% as long as five years after their move. It takes 10 years to reach a modest +1% and only 40% of companies turn in more than 3%.

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4 Steps To Becoming More Adaptable To Change

4 Steps To Becoming More Adaptable To Change | Excellent Business Blogs | Scoop.it

In a world that's only going to become more complex, here's how to adjust your mind-set to take the fear out of the inevitable.

Kenneth Mikkelsen's insight:

In the face of complexity and change, shifting your mind-set is the only way to not only cope but also make the journey more fun and successful.


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Sunil Gupta: Business in the time of social media

Sunil Gupta: Business in the time of social media | Excellent Business Blogs | Scoop.it

Senior management could benefit from spending at least a month or two being active on networking sites like Twitter and Facebook. 

Kenneth Mikkelsen's insight:

Go get a Twitter account, get a Facebook account. It’s like learning a language; you have to immerse yourself in it. Do it for a month or two at least, talk to your customers and see what comes of it.

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Which Industries Are Uber-Vulnerable for Cloud Disruption?

Which Industries Are Uber-Vulnerable for Cloud Disruption? | Excellent Business Blogs | Scoop.it

Uber, Lending Club, and Airbnb have all upended long-standing, traditional business models, replacing them with cloud-enabled marketplaces, and making headlines in the process. 


With so many disruptors on the horizon, it’s important to ask if today’s leaders will be marginalized. Accepting the status quo just won’t cut it for most industries.  Within 2-5 years the current leaders will need to choose between being disrupted or enabled.


They can work with the enablers to build a better offering for customers, or they run the risk that industry-specific technology companies bypass the incumbents and go directly to consumers. 

Kenneth Mikkelsen's insight:

Here are six common elements shared by industry cloud disruptors:


  1. Build Managed Marketplaces – The most successful disruptors to date have been those which have built well-managed marketplaces in which both suppliers and consumers have been motivated to participate.  For example, Lending Club is a peer to peer lending network that bypasses traditional banks, and LendingHome is building a disruptive network for mortgage financing.
  2. Create Customer Empowerment.  Disruptors empower consumers by allowing them to choose how/when to engage with suppliers/sellers. These models provide the transparency that many digital-savvy consumers demand.  Airbnb hosts forums where suppliers and renters can provide feedback, share photos and see reviews from other renters.
  3. Offer Suppliers Direct Consumer Relationships – In some industries, disruptors are giving suppliers a direct line to customers without going through a middleman.  For example, on the real estate site, Zillow, sellers can set a “Make me Move” price to let potential buyers know that they might be interested in selling, representing a company that is both an enabler and a disruptor.
  4. Dismantling High Margins - High margins are always vulnerable, and particularly so for industry cloud applications. Disruptive companies creating customer marketplaces can cut out the middleman, and the associated margin.  Insurance companies such as Zenefits and Oscar are reducing the fees charged by brokers.
  5. Leveraging Mobile Interfaces - Industry cloud disruptors have built their user interface for consumers from the get go, typically with mobile user interfaces at the core. In industries such as transportation and hospitality, well designed mobile user interfaces are compelling for all users.  Uber and Lyft are great examples of effective mobile applications that have reimagined how consumers order taxis.
  6. Operating in Less-regulated industries – Organizations without tight regulation are vulnerable to disruption because the suppliers have more flexibility to engage directly with consumers.  Industries with more regulation, such as life science, insurance and energy, have seen more industry cloud enablers instead of disruptors.  Interestingly, in these industries, the leading enablers are becoming the disruptors by working within the system to provide a totally new experience for consumers.  For example, athenahealth is developing a ground-breaking industry cloud platform that connects hospitals to doctors to patients, all in a HIPAA-compliant manner.
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Why Our Trust in Banks Hasn’t Been Restored

Why Our Trust in Banks Hasn’t Been Restored | Excellent Business Blogs | Scoop.it

Banks might be better served by focusing less on compliance and more on benevolence. Research has demonstrated that perceived trustworthiness includes three elements:


  • Ability (are you competent?)
  • Integrity (are you honest?)
  • Benevolence (do you care about my interests?)


Both competence and integrity are recurring themes in many discussions concerning the financial crisis. Benevolence, however, is not used very often – if at all. At the same time, banking clients particularly express concerns about whether the bank cares about their interests as well as its own interests. Put simply, a certain “morality of care” is missing in the discussion. As a consequence, it also seems to be missing from efforts to restore trust in banks.


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How to Restore Public Trust in Banking

How to Restore Public Trust in Banking | Excellent Business Blogs | Scoop.it

Markets rise and fall. Recessions come and go. But when it comes to the reputational challenge caused by bankers acting badly, not a lot seems to change from one year to the next.


Kenneth Mikkelsen's insight:

It is important to note that banking is dominated by decent people who contribute significantly to society. But there is no question that the world would have been better off over these past 30 years without the cumulative impact of fraud, excessive risk taking, poor judgment and underfunded regulation. And the number of players involved in the industry’s scandals is almost moot since everyone in the financial sector is affected. Indeed, even with cases of criminal acts and poor judgment limited to a select few, the whole industry ultimately pays the price in reputational damage and the related reaction from regulatory bodies.


When will this reputational train wreck end?


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Adapting to digital consumer decision journeys in banking

Adapting to digital consumer decision journeys in banking | Excellent Business Blogs | Scoop.it

Across Europe, retail banks have digitized only 20 to 40 percent of their processes; 90 percent of European banks invest less than 0.5 percent of their total spending on digital. As a result, most have relatively shallow digital offerings focused on enabling basic customer transactions.


Neither customers nor digital upstarts are likely to wait for retail banks to catch up. Recent analysis shows that over the next five years, more than two-thirds of banking customers in Europe are likely to be “self-directed” and highly adapted to the online world. In fact, these same consumers already take great advantage of digital technologies in other industries—booking flights and holidays, buying books and music, and increasingly shopping for groceries and other goods via digital channels. Once a credible digital-banking proposition exists, customer adoption will be breathtakingly fast and digital laggards will be left exposed.


Kenneth Mikkelsen's insight:

A host of emerging technologies are poised to personalize consumer experiences radically. Here’s how banks can prepare.

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Why Strategy Execution Unravels - and What to Do About It

Why Strategy Execution Unravels - and What to Do About It | Excellent Business Blogs | Scoop.it

A recent survey of more than 400 global CEOs found that executional excellence was the number one challenge facing corporate leaders in Asia, Europe, and the United States, heading a list of some 80 issues, including innovation, geopolitical instability, and top-line growth. We also know that execution is difficult.


Kenneth Mikkelsen's insight:

In this article the authors debunk five of the most pernicious myths and replace them with a more accurate perspective that will help managers effectively execute strategy.


The key is to focus on coordinating across silos and adapting to change on the front lines.


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5 Ways to Become More Self-Aware

5 Ways to Become More Self-Aware | Excellent Business Blogs | Scoop.it

You can’t be a good leader without self-awareness. It lies at the root of strong character, giving us the ability to lead with a sense of purpose, authenticity, openness, and trust. It explains our successes and our failures. And by giving us a better understanding of who we are, self-awareness lets us better understand what we need most from other people, to complement our own deficiencies in leadership.


Kenneth Mikkelsen's insight:

The question is how can we cultivate and develop self-awareness further.


In this HBR blog post Anthony K. Tjan suggests five ways to go about it: 


  • Meditate
  • Write down your key plans and priorities
  • Take psychometric tests
  • Ask trusted friends
  • Get regular feedback at work


I find the advices here rather simplistic. There are tons of other ways to go about this.


Go for walk, draw your lifeline, work on constructing your narrative, take up regular therapy or supervision, read books, write, join a knowledge salon, get a mentor.


It just goes to show that self-awareness never emerges from following a five point plan.


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Disrupt, or Be Disrupted

This presentation takes a look at three big innovations launched by Apple, Amazon and Google; three new approaches to Black Friday from TD Bank, Santander Bank and Patagonia; and two examples of upcycling by Southwest Airlines and Ben & Jerry’s ice cream.


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Improving Digital Innovation in Large Enterprise: Strengthening e-Leadership at C-level

Improving Digital Innovation in Large Enterprise: Strengthening e-Leadership at C-level | Excellent Business Blogs | Scoop.it

If your company doesn’t want to miss out on the new opportunities IT offers for business innovation, you need people at C-level with a challenging combination of competencies: they have to be digitally literate, business aware and be able to engage in conversations together about digital and the possibilities for transformation.


Kenneth Mikkelsen's insight:

New data from a European survey shows that the bigger enterprises are finding it particularly difficult to get this “e-leadership” mix in place.


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Balancing Exploration and Exploitation

Balancing Exploration and Exploitation | Excellent Business Blogs | Scoop.it
New research offers insights into factors that can affect the decision-making process.
Kenneth Mikkelsen's insight:

What strategies can improve decision making?


Scholars have argued that companies can develop greater ambidexterity as they search for better ways to balance practices supporting optimal “exploitation” of existing opportunities and those promoting “exploration” of new ones.


Although much of the research on corporate ambidexterity has been focused on how companies can best achieve ambidexterity, less attention has been paid to how the cognitive processes of individual managers can shape performance on a broader level.

New research by Daniella Laureiro-Martínez, Stefano Brusoni, Nicola Canessa and Maurizio Zollo shifts the discussion. In an article published in Strategic Management Journal, the authors describe how different regions of the brain control different cognitive activities. 


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The Best Digital Business Models Put Evolution Before Revolution

The Best Digital Business Models Put Evolution Before Revolution | Excellent Business Blogs | Scoop.it

What, another clarion call urging executives to fundamentally rethink their business models through digital technology? The business media have had no shortage of these.

Kenneth Mikkelsen's insight:

While revolutionary business model changes can be valuable, you don’t necessarily need to transform your industry. You don’t need to destroy your current business model. There is another way to make money from business model innovation. Sometimes it’s better to think a bit smaller so you can set yourself up for big results.

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Curated by Kenneth Mikkelsen
Thinker ★ Speaker ★ Writer ★ Leadership Advisor ★ Learning Designer ★ Connector of ideas+people ★ Loud Listener ★ Horizon Scanner ★ Polymath ★ Humanitarian

Kenneth Mikkelsen is co-founder of FutureShifts, a consultancy that helps visionary companies identify and tackle the big shifts in the world by cultivating the skills, mindsets, behaviors and organizational cultures needed to succeed in times of change.