Everyone is talking about the Social Enterprise and how it can transform your organization – whether it’s unlocking expertise, connecting teams and people, or improving communications with customers.
Corporate & Business Strategy Planning / Execution in the Post Industrial, Digital Economy. Want to know more? Visit me on LinkedIn: www.linkedin.com/in/karlwabst/
Curated by Karl Wabst
People make strategy much harder than it needs to be. For some, the problem is that they focus too much on the tools: environmental scans, SWOT analyses, customer analyses, competitor analyses, financial modeling, and so on. Other people get into trouble because they think it’s all about the broad, conceptual, future-oriented, big picture stuff — […]
First, understand the questions and then read Playing to Win
Mars Inc. plans to buy animal-hospital chain VCA Inc. for about $7.7 billion, plus debt.
Many people take more care of their pets than they do for themselves. As more people turn to pets for companionship, Mars decided to take advantage of this trend. We may yet see a line of M&Ms for dogs!
Lessons from the retail industry. The retail graveyard is filled with chains such as Circuit City, Austin Reed, Linens ’n Things, Loehmann’s, British Home Stores, RadioShack, and the Sports Authority—that expanded rapidly and then, faced with declining growth, couldn’t find ways to change course.
Growth is like being high on drugs. At some point, the price is higher than the high. The organization, its market or customers move on.
It may be time to leave the party. Admitting the ride is over is tough. If you are smart, all is not lost! There is a strategy for that.
There are other ways to make money besides growth. When the time comes, it pays to know what to do.
Think fast! Think twice! Do you really want to force customers to break their habit? Competitive advantage is not dead, yet.
Also read the Counterpoint below this article -
Old Habits Die Hard, but They Do Die by Rita Gunther McGrath
One big disadvantage physical stores have vs. e-commerce is tracking and responding to shopper behavior. Zebra Technology's sensor grid looks to end that.
Online or offline, tracking and analytics are becoming more predictive. What a Zebra watching the real world with IOT can do for you. Grow the top-line and protect the bottom-line. Is that creepy?
The coffee company is joining the likes of Domino’s Pizza, Amazon.com and several other companies in launching virtual assistant technology to in hopes of a more personalized customer experience.
Starbucks wants to put a barista in your pocket. Artificial intelligence tries to get smart enough to do the job that human kids do successfully every day. Is this a help or a hindrance to customer engagement? What do you think? Does digital do it better?
There's a new CISO in town, and that person is now bridging the gap between technology and risk. Toward that end, many CSOs and CISOs are starting to report to the chief risk officer rather than the CIO.
The argument presented here is another tempest in a teapot. Or, a great commotion over an unimportant matter.
Rearranging the deck chairs on the Titanic would not have kept the ship from sinking. Neither will simply changing to whom the CISO reports.
Without agreement and communication of strategy, there is no context. Without this context, the CISO will not be able to bridge the gap between technology and risk by showing how to create opportunity.
Without a shared destination, risk and opportunity look a lot alike.
Ask yourself, can you say where the organization wants to be in 3, 5 or even 10 years? Would others answer the same way?
Now, describe how the data we choose to collect helps or hurts us in attaining that aspiration. Would others answer the same way?
Non-contextual data will be used to argue, endlessly. Business stalls. Value is not created.
Processing of data into information fuels a businesses’ choices about where to compete and not to compete. From there, information fuels choices of how to compete, or how it chooses to create competitive advantage.
The current argument maintains the old system of executives arguing over turf, without being able to see the big picture. In the end, nothing changes except lines on an org chart.
Without knowing where you are headed, any road will get you there.
At this rate, just about every man-made surface there is could be covered in solar panels in the future.
Once upon a time, the U.S. was the World’s technology innovator. That was when America was great.
Now we lie, cheat and steal to get elected and then do nothing.
People here must once again strive to be a part of something larger than themselves. Partisan bickering has almost killed the dream that guided us.
Think about the path we are on next time your car is almost swallowed by a pot hole.
There are practical reasons why Facebook, Microsoft, and Google are so insistent that AI is the future.
The smart kids are already on the road. Learn statistics and how to code. An MBA will be handy to have.
The tech industry needs to turn artificial intelligence into real money. Supply and demand, profit and loss must come before the cool. Business first!
Voice recognition has come a long way in the past few years. But it’s still not good enough to popularize the technology for everyday use and usher in a new era of human-machine interaction.
Just as you would around a young child with a digital recorder, be careful what you say. They may not mean any harm. That does not mean that they have your best interests at heart either.
More and more household objects are joining the internet of things – even sex toys. In recent years, adult-pleasure companies and tech start-ups have developed a number of sex toys that connect to wireless networks, creating a nascent industry known as “teledildonics”.
Are you interested in return on investment? If so, you are wise to get past the subject matter. The adult marketplace is a great place to spot innovative technology.
Sex toys morph into new applications and products found in typical homes and offices around the world. Marketing research has never been so much fun.
Adult Industry Sees Potential in Virtual Reality
Emerging Tech Stocks To Buy In 2016 – Top 10
Porn Industry Keeps Making Technological Advances
How Porn Leads People to Upgrade Their Tech
Virtual Reality Technology Driving Billion Dollar Adult Entertainment Industry Forward
Is internationalisation threatening your company’s long-established culture? So-called "cultural disintegration" can occur when colleagues in different countries struggle to integrate with unfamiliar social norms, causing a breakdown in communication and trust.
Do not underestimate the importance of doing your marketing research into internal and customer audience segments before bringing up culture change.
Resist the urge to utter these words in your manager’s office, and certainly before broaching the topic with the Board. Why? Ironically, because of culture change.
The recent Presidential election highlighted the concern and resentment over job loss due to outsourcing, and offshoring.
Internationalization has been blamed for job loss and poor quality in the U.S. So, it follows that promoting changes to make people from other cultures feel comfortable will be a hard sell in many corners of the U.S.
Even if management buys off, consider the real possibility of resistance by employees, customers and even investors.
The conversation becomes a little easier once management understands that cultural misunderstandings often cost real dollars.
Customers may also see the wisdom in the decision to use international workers or services. You should be prepared to sell them on what is in it for them, in a way that speaks to their pain points. All customers are not the same.
Even if all your customers are demographically identical, there is quite a bit of diversity in their attitudes, interest and opinions about internationalization. Those differences may translate into very real changes in consumer behavior.
Some may leave because they or their family lost a job to foreign workers. Others may come if you pass along savings to customers. Consider the effect on the bottom-line before you pass go.
Money is a language Americans that understand. However, for many here, especially so soon after the election, America First may be more than a slogan.
It is not unusual for a company that disrupts an industry to eventually be disrupted itself. The marketplace is growing more volatile, not less. Look at the links below to see evidence.
What happened to the first Fortune 500?
A decade to mass extinction event in S&P 500
These companies have made every Fortune 500 list for 61 years
Some scholars and the defense industry refer to this as VUCA which stands for volatility, uncertainty, complexity and ambiguity. For every good acronym, there is a counter theory, or antidote. For VUCA, the antidote is VUCA Prime.
Start with this video.
Understanding the VUCA World with Bob Johansen and David Small
Strategy and Leadership Video
Strategic Leadership in a VUCA World: Jonathan Woodson | Decision-Making: Voices from the Field
VUCA Prime – A Leader’s Response
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SpaceX just asked permission to launch 4,425 satellites — more than orbit Earth today http://sco.lt/4iXhk9
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SpaceX set for space station flight, booster landing attempt
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The holy grail of neuromarketing is to predict which ads will lead to most sales before they've been released, but the reality is a mixture of bad science, bullshit and hope."
Virtual Reality displays are great tools for customer engagement.
Consumers give back while they are being entertained. Marketers learn from what offerings the user chooses to engage with. They learn what the customer wants, desires and what the customer dislikes.
Enjoy the show, and thanks for your data!
By the way, your blood pressure seems a bit high. You should really see your doctor. We will tell them to expect you.
VR is just one of multiple personal devices monitoring behaviors, physical response and attitudes.
You may also like this story.
Biometric Data Meets Festive Choirs in Samsung's Holiday Stunt for the Gear S3. Singers From Around the World Are Promoting the Smartwatch in London
Bose has quietly launched a new set of around-the-neck earbuds called Hearphones that can apparently augment the sounds of the world around you, something first spotted by a user over a
The voice of a small child in a crowded room may be music to the ears of some consumers.
Many people with difficulty hearing do not like the image that hearing aids project. Bose may know something about the market for a helpful device among their potential and existing customers that other manufacturers do not.
As one of the largest generations continues to age, there is a potential market for companies that make the effort to listen to what their target consumers desire.
Lives can be enhanced when we take time to listen and do something with what we hear.
Some need help hearing the voice of the customer. You might be rewarded with smiles. Cash is also accepted.
For more information:
The company has enjoyed the No. 1 spot on Consumer Reports for the past six years, beating out the big four, specifically AT&T and T-Mobile, whose lines the company leases. They also were rated highest in customer service by J.D. Power this year.
When you think about technology customers, you think young. When you think cellular, you think AT&T, Sprint and Verizon. When you think customer experience you rarely think cellular. You would be wrong.
It pays to know more about your customer. They may not be the demographic you assume.
“Think through the use cases and benefits associated with what you’re trying to achieve before you get involved with the technology,”
Think hard before you throw a ton of money at IoT projects. Not everyone needs the added costs of sensors and real time data.
Make sure there is a written business case. Draft a statement that connects the project to your business strategy. A lot of time and money are wasted by failing to put a business plan in place.
What is the business aspiration that the new capability would impact? How would your existing business be impacted?
What amount of change in time, money or customer satisfaction will make the change worthwhile?
Which customer segment will you test on? How would success or failure effect your customer? Is the change material to the customers?
Will there be change to people's jobs, processes or other technologies that have been in place for years? Are costs for training, upgrades, and new hires factored in
Could gathering a lot of data create privacy and security risks? Are there additional business opportunities that could offset the risk? Get it documented before you start. The data could improve customer engagement or cause a breach.
Agree on the process that will be used to measure success or failure. Once you have done all the upfront work, getting buy-in from the business-side will be easier.
If the trial fails to meet expectations, then you save a lot of time, money and customer annoyance. Fail early and save yourself time and money to try again or to come up with another idea.
It’s the Brits wot won it. That is, the US presidential election was won for Donald Trump with the help…
Is this the dawning of a new age for psychographics?
If you believe the story, the British are coming to make America great again.
Extensive profiling and behavior prediction capabilities may be acceptable to shoppers buying consumer packaged goods.
The possibilities of extending this practice into politics may be closer to big brother than many Americans care for.
Before you hang any lanterns in the tower to warn everyone, remember that the data was already there to be purchased by anyone.
We may have tangible proof that the age of big data is upon us. Now, think about what that may mean going forward.
There is no question that you are being targeted. The questions now are, how well are you being targeted and what do you think about people looking inside your head so they can convince you to buy what they’re selling?
What do you think, cool or creepy?
The rules are murky, but the penalties for breaking them are severe.
If you are the CEO of a company and claim your firm is the Uber of <insert industry here>, pay attention.
The distinction between an employee and an independent contractor is gold. In employment law, if it looks like a duck, walks like a duck and quacks like a duck, the lawyers are likely to will decide it’s a duck.
Regardless of the tools used, digital technology reaches into every department in the enterprise, and the goal is to help employees do their jobs better... all roads ultimately lead to the same place: "the experiences you create for your customers, partners and employees."
Digital strategy is a process. It does not start with technology. It starts with people. Focusing on technology misses the point.
Organizations are trying to create some type of value for customers. All roads ultimately lead to the same place the experiences you create for your customers, partners and employees.
Our people must be trained and coached so they can think and move faster. We have always relied on nimble minds. The roads must be improved for faster vehicles.
To see what is over the next horizon requires our people change. That is how we got this far. People are the drivers and passengers. Technology is a vehicle, not the destination.
Psychographic segmentation can augment traditional patient engagement analytics, informing and strengthening a marketing team’s consumer understanding.
What type of patient are you? Learn the benefits of segmenting patients to deliver better healthcare.
c2b solutions has identified five types of health care consumers (psychographic segments) based on their motivations, communication preferences and approach to health & wellness.
Which type of health care consumer are you? Answer a few simple questions to find out: https://www.c2bsolutions.com/#classifier
Learn more here:
Psychographics Are Just as Important for Marketers as Demographics http://sco.lt/8Svrw9
User Personas for Privacy and Security http://sco.lt/96hIK9
Activity: User persona creation.
Takeaway: When making and using user personas for security, it is best to ensure you are highly specific to different populations’ concerns. Who needs apps for their…
This is a great way for executives to transplant business concepts into the technology space. On the flip side, technologists have a lot to add to marketing to increasingly Internet-savvy consumers.
There is an opportunity for employee engagement and advancement. Developing personas can be an excellent opportunity for cross-training between business and technology. Collaboration between these two groups is rare in many organizations.
Enhanced communications between departments is also an excellent way to enhance customer engagement.
Marketing makes extensive use of personas for targeting advertising to different audiences, or types of consumers.
A persona can combine different types of data into a package. This package or object is given a name that is used as shorthand to group users.
Think about how these three types of data would combine to uniquely identify sets of people. People may be users, consumers, staff, or patients.
Personas can also be developed to protect identifiable populations from threats to their identity or physical safety.
This may be a leap for some technology-focused managers. The same idea can be used to develop persona for corporate or agency users in sensitive industries and positions.
For extra credit, think about how you might use stories to facilitate development of personas. Mention ethnography to impress your Marketers.
Everyone likes as good story. Personas are like the characters that may be found in your own corner of the world.
HBR: The Importance of Psychographic Segmentation http://sco.lt/9EeL0z
Question what you know. Making decisions based on age, and other simple demographic data, will lead you astray. Your marketing, sales, HR, and customer engagement targeting will all miss the mark.
The extension of human life is a time of great change. Adapt your mindset and attitudes to be more successful in the new environment.
Look for the stereotypes in your thinking. To create a more accurate profile, also gather and consider psychographic and behavioral data.
There is a lot of opportunity that wasn’t there a generation ago. Be smart enough to listen. Be agile enough to lead the change. If you do not, your older, wiser competitor will.
Live long and prosper.
Elon Musk's aerospace company just made a big move to envelop the planet in high-speed internet coverage.
In case you thought there was not enough change in the world already. The marketplace may finally become global.
SpaceX would compete against Google, Facebook and an array of small satellite providers.
This could change how people communicate worldwide. The new network could be a major force in the battle against censorship.
Few economic themes capture the attention of the media, politicians, and the public as strongly as the worry that automation threatens employment.
People who do not have the skills required in modern businesses will be unemployed. You are not entitled to a job. You earn your place by creating value. Why blame robots?
U.S. manufacturing industries have an opportunity to use technology innovations to revolutionize production.
The old jobs are unlikely to return. Time to upgrade.
Here is a nice collection of articles to read while you wait for the old factory with a ton of jobs to reopen in your town. http://sco.lt/5CDUWX