Excellent Busines...
Follow
Find
8.5K views | +5 today
 
Scooped by Kenneth Mikkelsen
onto Excellent Business Blogs
Scoop.it!

Why Incentives Don't Actually Motivate People to Do Better Work

Why Incentives Don't Actually Motivate People to Do Better Work | Excellent Business Blogs | Scoop.it

You would think that rewarding people for being good at their jobs would make them better at them. 


But social science shows that it doesn't, for a number of reasons. 


Kenneth Mikkelsen's insight:

Incentives ... do not alter the attitudes that underlie our behaviors. They do not create an enduring commitment to any value or action. Rather, incentives merely - and temporarily - change what we do.

more...
Graeme Reid's curator insight, April 3, 8:45 PM

Research has been available for many years that monetary incentives are not (except in limited circumstances) the most important motivating factor for people.  So why do most organisations continue to use bonuses etc as there main way to motivate their people?  

John Michel's curator insight, April 18, 2:05 AM

Rather than structuring our workdays (and our employees' workdays) around rewards, we should instead structure them around continual, meaningful progress. 

Mike Masin's comment, April 18, 6:26 AM
Things that are harder to quantify like growing and being challenged are our long-term motivators. So we know ourselves better than anybody else.
Excellent Business Blogs
The best blog posts from fresh thinking and inspirational business people, scientists and economists
Your new post is loading...
Your new post is loading...
Scooped by Kenneth Mikkelsen
Scoop.it!

About Excellent Business Blogs

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

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. 


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 nearorite articles, videos, graphics and audio that offers a fresh perspective on the transition we face in the modern workplace. 

 

                                                 ★★★★★ 


About Kenneth Mikkelsen


I believe that knowledge is everything. Knowledge is ideas. Knowledge is power. Knowledge is hope. 

But only if it is shared and applied.


That is why I created Excellent Business Blogs on Scoop.it. 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. 

I'm co-founder of Future Associates, a consultancy that helps visionary companies identify and tackle the big shifts in the world by cultivating the skills, mindsets, and organizational cultures needed to succeed in times of change.


You're welcome to connect via: 

 

LinkedIn: www.linkedin.com/in/kennethmikkelsen

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

Twitter: www.twitter.com/LeadershipABC

 

I hope you'll be inspired.

 

Enjoy!

 

Kenneth

more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

The Future Of Social Enterprise In 2015

The Future Of Social Enterprise In 2015 | Excellent Business Blogs | Scoop.it

The social enterprise space has definitely come of age in recent years, growing by leaps and bounds and gaining momentum even as you read this. But there’s no denying that it gets harder from here.


The year ahead is filled with a mixed bag of challenges and opportunities. Consumers are ready to be conscious, but most don’t know where to start. Capital is becoming more available for social enterprise pursuits, but securing the right investment at the right time is still an elusive proposition for most impact organizations. The social enterprise movement is building quite a fan base, but its popularity could unintentionally lead to an identity crisis, a crisis of confidence, or both, if we don’t move forward strategically.


With all the above in mind, where is social enterprise really headed in 2015 and beyond?


Kenneth Mikkelsen's insight:

Three simple things conscious capitalism must do to grow in the New Year.


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

Desire for power and status is driving our unsustainable world

Desire for power and status is driving our unsustainable world | Excellent Business Blogs | Scoop.it

It is time for all of us to wear the ‘sandals of humility' if we are to end division and inequality in society.


Kenneth Mikkelsen's insight:

Rampant egos are a major problem in driving our unsustainable world, because the accompanying need for status drives consumption.


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

European Identity: Strength or Weakness?

European Identity: Strength or Weakness? | Excellent Business Blogs | Scoop.it

With Europe in a state of flux, is the continent heading for a national identity crisis?

Kenneth Mikkelsen's insight:

Excerpt from the article: 


Some of these distinct European patterns contribute to a more sustainable form of leadership. For example, while the American style of leadership includes a bias toward short-term gains, an inordinate focus on capital markets and finance, and an over-simplistic understanding of the concept of shareholder value, Europe’s leadership orientation can be described as a more responsible kind of capitalism held in check by the institutions of civil society. Compared to the U.S., social responsibility is much more at the forefront.


The European leadership model is also more rooted in a long-term mentality. Granted, the European consensus-orientated leadership style comes at the price of speed, but once everyone is involved and on board in the decision-making process, the execution of decisions becomes increasingly faster.


Furthermore, Europeans, compared to the U.S., give greater importance to a balanced perspective on the past, present and future. The more historical orientation of Europeans contributes to a greater concern about continuity, making them possibly less equipped to deal with transformational change.


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

The Digital Transformation Symphony: When IT and Business Play in Sync

Digital Masters, such as Starbucks, that leverage digital technologies effectively, differentiate themselves from their peers by consciously striving to build a close relationship between IT and the business. However, Digital Masters are exceptions. The IT-business relationship in most organizations is often a fractious relationship rather than a marriage of equals.


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

Digital Double-Down: How Digital Transformers will Leap Ahead

Digital Double-Down: How Digital Transformers will Leap Ahead | Excellent Business Blogs | Scoop.it

There's a sharp differences between companies that see digital technology simply as a tool for improving performance and those for which digital technology is a strategic focus. For these market leaders, the terms “digital” and “strategy” may soon be synonymous.


Kenneth Mikkelsen's insight:

Read how some companies are increasing investments to drive digital transformation and accelerate ahead of their competition.

more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

Our Obsession With Scalability Must End

Our Obsession With Scalability Must End | Excellent Business Blogs | Scoop.it

Our obsession with scalability is getting in the way of unleashing the potential of the 21st century. We are so fixated with scalability we have taken our eye off of delivering value at every scale including the most important scale of one. The Industrial Era did that to us.


Kenneth Mikkelsen's insight:

Business schools minted CEOs who became share-taking clones of one another. It was all about scale. Bigger was always better. So what if the predominant business model doesn’t serve everyone’s needs? So what if it doesn’t even serve existing customers well? Scalability and share taking became about protecting the predominant business model by preventing the emergence of new business models. Incumbents do everything in their power to erect regulatory and legal moats to keep new business models out of the market.


Excellent blog post by Saul Kaplan. I highly recommend reading it and while you're at it follow Saul on Twitter here: @skap5

more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

The world needs to stop listening to American MBAs

The world needs to stop listening to American MBAs | Excellent Business Blogs | Scoop.it

The latest ranking of business schools has just been released by the Princeton Review and a certain type of business school continues to dominate—American ones. Having earned their reputation over the years by producing some of the world’s top business leaders, their influence stretches far beyond the lecture theater into the business world and society more widely.


But more questions must be asked of the huge level of influence they have. They have arguably had a disproportionate—and sometimes damaging—effect on the world of business. This isn’t necessarily an argument of quality. But the culture they have propounded has in many ways hurt the global economy—which business schools should exist to serve.

Kenneth Mikkelsen's insight:

In our current economic situation, there needs to be new clarity and a re-definition of what business schools are for, taking us back to basics. Business schools should be judged and valued on their relevance and what they contribute to business and to economies.


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

The New Supercompetitors

The New Supercompetitors | Excellent Business Blogs | Scoop.it

Leading companies used to be diverse conglomerates that based their competitive strategy on assets, positions, and economies of scale. Today’s market leaders, by contrast, are more focused enterprises. They do not follow the traditional portfolio strategies of seeking short-term profitability or growth wherever they can find it. Rather, they recognize that value is created by their distinctive capabilities: what they can do consistently well.


Kenneth Mikkelsen's insight:

Companies that realize the power of their capabilities can shape how industries evolve.


A supercompetitor is a company that, by competing successfully with its distinctive capabilities, changes the dynamics of its business environment. A capability, in this context, is the ability to consistently deliver a specified outcome relevant to the business.


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

The effect of virtual interactions on wellbeing

The effect of virtual interactions on wellbeing | Excellent Business Blogs | Scoop.it

Recently, tech giants Yahoo and Hewlett Packard took the radical decision of banning telework for most of their employees. Yahoo CEO Marissa Mayer declared that “we need to be one Yahoo! and that starts with physically being together”.


Kenneth Mikkelsen's insight:

The problem with virtual interactions is that their impact depends very much on the preferences and abilities of the employees using them. Failing to take these individual differences into account and imposing unilateral decisions upon all employees is unlikely to be productive.


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

What strategists need: A meeting of the minds

What strategists need: A meeting of the minds | Excellent Business Blogs | Scoop.it

A unique gathering of strategists from academia, leading companies, and McKinsey debates the state of the discipline, with an emphasis on opportunities for innovation in a changing world. 


What comes next? How relevant are existing frameworks and tools to the needs of leaders seeking to develop and implement winning strategies? And what should be the relative contributions of academics and practitioners to the evolution of the field?

Kenneth Mikkelsen's insight:

Here are highlights of the discussion, moderated by McKinsey Quarterly's Allen Webb, among five practitioners, five business-school professors, and five current or former leaders of McKinsey’s Strategy Practice.

more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

Leading Transformational Strategy - Next Practices

Leading Transformational Strategy - Next Practices | Excellent Business Blogs | Scoop.it

Some strategies require transformational change. These strategies are usually required when companies are either in deep trouble or pursuing significant and new market opportunities. All strategies require the support and active involvement of the senior leaders but transformational strategies raise the bar for the leadership required to succeed. 

Kenneth Mikkelsen's insight:

This blog post offers some inspirational insights from leaders leaders who have pursued and successfully executed transformational strategies.


Learn more about: 


How did they do it? What did they do to succeed when so many others have failed? What was their mindset, how did they think about executing transformational strategy and what actions did they take to ensure success? 


more...
Lisa McCarthy's curator insight, September 24, 4:34 AM

All strategies require the support and active involvement of the senior leaders but transformational strategies raise the bar for the leadership required to succeed.

Scooped by Kenneth Mikkelsen
Scoop.it!

Rethinking the Bank Branch in a Digital World

Rethinking the Bank Branch in a Digital World | Excellent Business Blogs | Scoop.it

Are we witnessing the death throes of brick-and-mortar retail banking? Will banking soon be like the business of selling recorded music - almost all done online?


Kenneth Mikkelsen's insight:

Physical banking is evolving rapidly but not disappearing. Branches may be fewer in number, but they will be more useful and efficient, and banks without branches are likely to find themselves at a competitive disadvantage.


The lesson for senior leaders is clear. When you hear the “everything’s going digital” alarm, ask yourself what your customers really want. Chances are they’re going to be seeking products and services that combine digital advances with the time-tested advantages of physical interactions.


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

Does Power Lead to Corruption?

Does Power Lead to Corruption? | Excellent Business Blogs | Scoop.it

Scientific research shows that, whatever an individual’s personality type, power leads to antisocial decisions – and testosterone plays an important part too.


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

Seven Questions to Make Sure Your Company is Built Around Customers

Seven Questions to Make Sure Your Company is Built Around Customers | Excellent Business Blogs | Scoop.it

Is your company doing everything it possibly can to be useful and compelling to customers? This article from London Business School's BSR Magazine provides seven essential questions to make sure customers come first.


Kenneth Mikkelsen's insight:

The seven strategic questions to ask are: 


1. Why - precisely - should anyone give us their money?

2. Are we offering the very best in our chosen segment? 

3. Are we making buying from us as easy as possible?

4. Are they telling all their friends great things about us?

5. Are some within our organisation pushing customers away? 

6. Are we asking them what else we could do for them?

7. Are we asking customers to help us innovate?


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

Rethinking the role of the strategist

Rethinking the role of the strategist | Excellent Business Blogs | Scoop.it

Strategic planning has been under assault for years. But good strategy is more important than ever. What does that mean for the strategist?


Kenneth Mikkelsen's insight:

While nothing new, the weaknesses of traditional strategic planning - characterized by a lockstep march toward a series of deliverables and review meetings according to a rigid annual calendar - have been amplified by the importance of agility in a rapidly changing world.

more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

A List of Goals Is Not a Strategy

A List of Goals Is Not a Strategy | Excellent Business Blogs | Scoop.it

If you’ve been struggling to develop strategy and write your strategic plan, what you may have been missing up till now is a method. These steps will help.


Kenneth Mikkelsen's insight:

Graham Kenny suggests that people should include these three steps in their strategic planning: 


  1. Identify which stakeholders you depend on for success
  2. Recognize what you want from your stakeholders
  3. Recognize what your stakeholders want from you


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

Are Most CEOs Too Old to Innovate?

Are Most CEOs Too Old to Innovate? | Excellent Business Blogs | Scoop.it

Researchers have identified this type of curve in a wide range of creative professions, though the peak age varies by activity. On its face, this data suggests that by the time most CEOs make it to the corner office, their most creative, innovative years are behind them.


more...
Scooped by Kenneth Mikkelsen
Scoop.it!

OTHERWISE: Looking Ahead Into a New Economy

There's business as usual and there's business otherwise.


Interesting new magazine from EDHEC Business School. Sign up for free delivery of the magazine here


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

Identifying the Biases Behind Your Bad Decisions

Identifying the Biases Behind Your Bad Decisions | Excellent Business Blogs | Scoop.it

By now the message from decades of decision-making research and recent popular books such as Daniel Kahneman’s Thinking, Fast and Slow should be clear: The irrational manner in which the human brain often works influences people’s decisions in ways that they and others around them fail to anticipate. The resulting errors prevent us from making sound business and personal decisions, even when we’ve accumulated abundant work experience and knowledge.

Kenneth Mikkelsen's insight:

Since it is so difficult to rewire the human brain in order to fundamentally undo the patterns that lead to biases, behavioral economics advocates that we accept human decision-making errors as given and instead focus on altering the decision-making context in ways that lead to better outcomes.


more...
David Hain's curator insight, November 1, 5:45 AM

We will never make perfect decisions, but we can learn how to approach and review the decisions we do make.

Scooped by Kenneth Mikkelsen
Scoop.it!

How to (Gradually) Become a Different Company

How to (Gradually) Become a Different Company | Excellent Business Blogs | Scoop.it

How can a company, through a sustained process of acquiring and divesting assets, changes the mix of its business portfolio  purposefully shift the core of its activities?

Kenneth Mikkelsen's insight:

Five tips for shifting your core business.

more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

New Rules for the New Economy

New Rules for the New Economy | Excellent Business Blogs | Scoop.it

10 radical strategies for a connected world: 


1) Embrace the Swarm. As power flows away from the center, the competitive advantage belongs to those who learn how to embrace decentralized points of control.


2) Increasing Returns. As the number of connections between people and things add up, the consequences of those connections multiply out even faster, so that initial successes aren't self-limiting, but self-feeding.


3) Plentitude, Not Scarcity. As manufacturing techniques perfect the art of making copies plentiful, value is carried by abundance, rather than scarcity, inverting traditional business propositions.


4) Follow the Free. As resource scarcity gives way to abundance, generosity begets wealth. Following the free rehearses the inevitable fall of prices, and takes advantage of the only true scarcity: human attention.


5) Feed the Web First. As networks entangle all commerce, a firm's primary focus shifts from maximizing the firm's value to maximizing the network's value. Unless the net survives, the firm perishes.


6) Let Go at the Top. As innovation accelerates, abandoning the highly successful in order to escape from its eventual obsolescence becomes the most difficult and yet most essential task.


7) From Places to Spaces. As physical proximity (place) is replaced by multiple interactions with anything, anytime, anywhere (space), the opportunities for intermediaries, middlemen, and mid-size niches expand greatly.


8) No Harmony, All Flux. As turbulence and instability become the norm in business, the most effective survival stance is a constant but highly selective disruption that we call innovation.


9) Relationship Tech. As the soft trumps the hard, the most powerful technologies are those that enhance, amplify, extend, augment, distill, recall, expand, and develop soft relationships of all types.


10) Opportunities Before Efficiencies. As fortunes are made by training machines to be ever more efficient, there is yet far greater wealth to be had by unleashing the inefficient discovery and creation of new opportunities.





more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

Making Management as Simple as Frisbee

Making Management as Simple as Frisbee | Excellent Business Blogs | Scoop.it

In the 20th Century, organizations competed on scale efficiency and relied on hierarchical bureaucracies to run tight ships. Leaders learned that, to make the business succeed, it was sufficient to fix their gaze on shareholder value. 


Now that globalization and the Internet have changed everything, the heuristics are overdue for an update. Every business person feels the change in conditions. Their customers now have real choices, communities have gained access to instant reliable information, and people's ability to communicate and organize has risen dramatically. Power in the marketplace has shifted from seller to buyer. Customers demand nothing less than "better, cheaper, quicker, and smaller," along with "more convenient, reliable, and personalized."


Continuous innovation is now a requirement for survival.

more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

Nokia saw the future, but couldn't build it

Nokia saw the future, but couldn't build it | Excellent Business Blogs | Scoop.it

Nokia’s biggest failure was an unwillingness to embrace drastic change. The company sowed the seeds for its self-destruction when it made "the familiarity of the new" the tagline for its big Symbian upgrade those many years ago. It feared alienating current users by changing too much, so it ended up with a compromised mess of an operating system that wasn’t fit for the future. Even as it was making one mistake, however, Nokia was keenly aware of the threat of another.

Kenneth Mikkelsen's insight:

Everything that Apple and Google are today, Nokia wanted to become….Excellent story about the fall of Nokia. A recommended read.

more...
Anu Ojaranta's curator insight, September 29, 3:41 PM

Management issue! And espesially middlemanagement and poor communication? 

Scooped by Kenneth Mikkelsen
Scoop.it!

Want to Change Employee or Customer Behavior? Learn from Behavioral Economics...

Want to Change Employee or Customer Behavior? Learn from Behavioral Economics... | Excellent Business Blogs | Scoop.it

Across industries, organizations can greatly benefit from making tiny changes in their processes to take into account how employees and customers really behave — including not liking being told what to do. Research shows that even some small tweaks can have a big impact.

Kenneth Mikkelsen's insight:

References in this blog post to Cass Sunstein and Richard Thaler's book: Nudge: Improving Decisions about Health, Wealth, and Happiness.


more...
No comment yet.
Scooped by Kenneth Mikkelsen
Scoop.it!

Tracking the Enemies of Agility

Tracking the Enemies of Agility | Excellent Business Blogs | Scoop.it

The failure of big companies to adapt to their changing circumstances is one of the fundamental puzzles in the world of business. Occasionally, a genuinely “disruptive” technology, such as digital imaging, comes along and wipes out an entire industry. But usually the sources of failure are more prosaic and more avoidable.

Kenneth Mikkelsen's insight:

A fine blog post by Julian Birkinshaw from London Business School. 

more...
No comment yet.