Using video surveillance, and signals from shoppers’ cellphones and apps, retailers are tracking customers’ behavior and moods.
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
Under the board’s new standard — which the majority, to be clear, maintains is the old standard, revived — the test is whether a company has the potential to exercise control over a worker’s wages and working conditions, regardless of whether that control is used.
The workplace is changing. Keep an eye on this ruling. Whichever side of this issue you are on, the outcome will affect you. Do not be surprised if it is fodder for Presidential wanna-be debates.
Read more than one opinion. As more workers find themselves in lower paid jobs, it will affect your family more than you may have imagined a few short years ago.
FOX News version:
National Labor Relations Board Paves Way For Union Organizing At McDonald's And Others With Franchises, Subcontractors
"In the long run, this may turn out to be a benefit to Subway because now Subway has to come up with a new direction and some new thinking,"
Imagine that you just stepped into the CMO role at Subway.
There are plenty of problems and opportunities ahead. Some require leadership. Others require management. Every company needs both. One person, despite the myth of the Hero CEO, rarely possesses both skillsets.
It is important to note that Leaders may not have the word Chief in their title. Today, the idea or action that saves or sinks a company may come from a customer or commenter on social media.
Yes, the company has to restore trust in its brand but is that the big problem?
Subway had serious problems before the embarrassing downfall of its spokesperson. Sales were lagging due to strategic changes by competitors. The strategy of positioning itself as the destination for customized sandwiches was easy to copy.
Although it may be tempting, the public crisis must not detract from the search for a new business differentiator. This is not a unique situation. Every business should be monitoring its market position and thinking ahead. This is what leaders do.
Public apologies by organizations have become commonplace. This is now part of business as usual. In other words, this is management. Hiring spokespeople with inspiring stories to represent your brand has always been risky. There is an established formula.
As the public focuses on the headlines, many franchisees and their employees ponder the value of being associated with your company. Congratulations! You are the new Chief Marketing Officer! What would you do? What should the CEO be doing?
Leaders and Managers alike should watch this story develop. This is the reality of how businesses work today. The new normal is that transformation, transition and transaction are constant companions.
Research: For a Corporate Apology to Work, the CEO Should Look Sad
From Subway's Jared to Bill Cosby: How Do You Make Hiring a Spokesperson Worth the Risk?
5 Things You Must Do to Survive a PR Disaster
What Leaders Really Do
What do Managers do?
What Great Managers Do
Three things to avoid when facing change
While the consumer’s adoption of fitness bands and connected household appliances might generate more media buzz, the potential for business usage is much greater. Research from the McKinsey Global Institute suggests that the operational efficiencies and greater market reach IoT affords will create substantial value in many industries.
Smart executives are looking at the potential of the Internet of Things (IoT) for operational efficiency and use in B2B environments.
The use of sensors in the workplace creates a different set of questions and opportunities. Workplace monitoring is a hot topic, not just in the technology arena but also in HR, Legal, Organizational Psychology and your Boardroom.
It is a short hop from using sensors to monitor equipment and process to questions about monitoring people. This may sound like an IT project, but do not be fooled. Wherever there is opportunity for vast improvement, there is also high risk potential.
How will your employees feel about having their behavior monitored? What will unions have to say? What are the legal ramifications? Are there ethical considerations? Are there cross-border / international aspects?
Now is the time to perform due diligence. IoT is not the future. If your executives are not educating management or executing on IoT initiatives, ask them why.
Whether your strategy is based on cost efficiency or differentiation, there is likely a place for the IoT in your operational environment.
Should Big Data Be Used To Measure Employee Productivity?
Since 2010, the American defense budget has been steadily declining. As the U.S. military ramps down its presence overseas, and military industries are squeezed by long-term trends on multiple fronts, how will the American economy fare?
This is worth a look. Why?
Often the public overlooks the connection between military budgets and transformations in the private sector. Military research played a large part in development of consumer products we all use.
When we say military, we tend to think about bombs and destruction. There is more going on than the 20-second news bite conveys.
Delivering more service for less money is anathema to the billable hour model, because it reduces revenue (at least in the short term, though long-term impacts are considerably more debatable),
Lawyers, but not only lawyers, need to learn to think about how digital is disrupting the status quo. Billable hours may make your partners happy today. Customers have more choices and demand more value over the course of your relationship. Do you have what it takes?
Anybody that has spent even a single year on a trading floor can confirm that Wall Street is an Industry where building relationships face to face is a requirement.
Social selling is not new. I spent a decade on Wall Street, not as a trader, but in management roles.
Getting anything of value done meant building relationships with people, face to face. Technology provided an edge.
Technology is still just a tool. People power business. Don’t stop with computers. Get out and network with real people to get from potential to results.
This debate has been going on for decades. The arguments and conclusions remain largely the same. Still, it is an important question.
To foster leadership development we must communicate and discuss the differences and similarities between Managers and Leaders. We need both, but it seems that today we have too many managers and too few leaders.
Step into the Way Back Machine by clicking on these links. Note that I apologize to Peabody and Sherman. I hope they will forgive me for borrowing the name of their time machine.
What Leaders Really Do
Managers and Leaders: Are They Different?
In rank order, the following were the top communication issues people said were preventing business leaders from being effective:
Dear Executive, do you want to be seen as effective? Do you want to be trusted?
Stop yourself if you say some variant of this to any employee. “Hey <insert name here>, atta boy on that thing you did!”
You may be a Manager, but you will not be seen as a Leader.
It's a volatile, uncertain, complex and ambiguous world. Prep your leaders accordingly.
When it comes to *VUCA, I have noticed many pundits talking about the problems. There is too much *FUD, and so little time to give organizations problems without leading solutions. You will not win any friends in the C-Suite.
*VUCA: Volatility, Uncertainty, Complexity & Ambiguity.
**FUD: Fear, Uncertainty & Doubt.
Let me recommend a different path. Introduce the solution or VUCA Prime, rather than just telling people the sky is falling.
No offense to the author of this piece but, read for yourself the origins of the term VUCA. The paper is actually from a college program in leadership.
Strategic Leadership Primer
Next, understand how to move toward solutions.
VUCA Prime – A Leader’s Response
Understanding the VUCA World with Bob Johansen and David Small
Link to Strategy and Leadership
Strategic Leadership in a VUCA World: Jonathan Woodson | Decision-Making: Voices from the Field
how did a sex tape shot in a chinese uniqlo affect brand perception locally?
Rule #1: Don't assume you maintain control of your brand message anymore. Incidents like this may occur. Be prepared.
Some will believe you were involved. On the other hand, you may have been. Customers may not be sure.
What if the brand wanted to increase market with young men and assumed the incident would remain local.
Watch for how the speed of social might affect your brand. Establish a strategy now. You may need goodwill sooner than you think.
In 1983, I identified digital disruption as one of twenty technology-driven Hard Trends that would increasingly shape the future at an exponential rate, and at the same time drive economic value creation.
It amazes me people still seem caught off guard by the disruptive power of technology, digital or mechanical. Change seems to be more frequent and more intense. Perhaps the surprise is that digital transforms OUR lives, not someone else’s.
The change is not about the technology. It is about the massive increase in the speed of communications. The more we see, hear and feel about change the more real it seems to us. This time it is personal. However, you are mistaken.
Anyone who thinks this level of disruption is new should go and ask someone in their 80’s about what the world was like when they were kids.
Listen as they tell you about their childhood in homes without electricity. They also lived through two World Wars and a stock market crash. There is a lot more.
Knowing someone who lived through massive change makes it less surprising and makes you more prepared.
The important work of change is not about the technology. The real work is with people's outdated mindsets & attitudes. Businesses that forget the lessons of history are doomed to repeat the mistakes.
Teach your people how to deal with change. Change is the new normal. Help them learn to lead change rather than mistakenly thinking they can manage it.
Let other’s complacency be your competitive advantage. This change starts with you.
For more see:
No more outcry as CME closes trading pits after 167 years
It was the end of an era earlier this month when Chicago’s CME Group began dismantling most of its futures pits as trading migrated to screens.
Some may call this digital transformation but it was actually digital transition.
The transition to electronic trading at CME began in 1992 when Globex was introduced.
Globex is an electronic trading platform used for derivative, futures, and commodity contracts.
This change took 23 years. If that is your idea of transformation, the next 23 years are going to scare the heck out of you.
For Crying Out Loud: From Open Outcry to the Electronic Screen
Target's "made for u college styler" brings users curated dorm room suggestions based on instagram and facebook profiles.
What’s your type? Your social media posts reveal insights for dorm styling.
SAP is launching a digital magazine called Digitalist, designed to reach c-level executives and cover topics around the digital economy.
IT pros take note. SAP has a strategy to influence your executives. What is yours?
"The goal for the stories, as was the goal for a lot of the content on Business Innovation, is to step back from products and even specific technologies and talk about the business issues of using technology"
You are the dinosaur if you cannot speak to your executives about the business and its aspirations. Do you understand their needs and desires? Only then will you effectively explain how technology is relevant in terms they can understand. After that, you may be able to get the money for your own needs and desires.
Ban the Black Box view of technology.
Take A Step Back To See The Bigger Picture: Introducing Digitalist Magazine, Executive Quarterly
Contrary to what you might think, you don't necessarily have to be a producer of solar energy in order to be a consumer of it -- and there's a brilliant new device on Kickstarter that makes it more accessible than ever before.
Transform energy with Solar as a service. Check out a brilliant new device on Kickstarter.
What is your take? Real of Pipe Dream?
You change a light bulb when it burns out. You change buses, trains, and airplanes when the one you’re on won’t take you to your desired destination. Athletic teams change head coaches and players when the team isn’t winning.
We need to change the mission of change from episodic, threat-response to proactive & continuous innovation of business value.
We learn to “read” people’s emotions by evaluating their facial expressions, tone of voice, and overall demeanor. But these things often don’t translate across cultures.
Listen more than you talk. Watch for signs. Learn to communicate with others in ways that matter to the individual. We are all the same, but very different.
Emotional Intelligence Doesn’t Translate Across Borders
“It’s Cool When a Corporation Tweets Like a Teenager. It Makes Me Want to Buy the Corporation’s Products”
Humanizing your brand does not include misrepresentation.
Do you remember when your dad tried to impress your friends by talking like a teenager? It just did not sound real or right. It was embarrassing. Don't be that guy.
What is the main motivation to interact with a brand online? Why do people come to your website? Why do they follow you on Twitter? Most of them are seeking information. They want to learn what they can to make a smart decision.
People now choose to enter the sales process on their own terms. Give them something that benefits their decision making process.
Stop the always be closing stuff and add some value to your customer. By the way, they choose what is of value.
If you still think of sales as a funnel, Google for more information. What you find will probably be on your competitor's site.
We all know the importance of promoting a culture of compliance and ethics. The benefits of an ethical culture are substantial and worth every penny of investment in creating and promoting such a culture....
Watch out for these 4 signs of a weak culture of compliance and ethics:
Compliance and ethics are mandatory, regulated by laws and regulations. These are minimum requirements.
Build a culture of trust to see
Trust: Going Beyond Compliance and Ethics
Many companies are again holding on tightly to their cash reserves. Is a softening in business confidence to blame?
The start of the Presidential primary season may have something to do with the perception that the sky is falling.
With Trump's current hyperbolic style, expect emotions to fluctuate, increasing uncertainty and cash hoarding.
If you still buy into the Presidential Election Cycle theory, we could see FUD (fear, uncertainty and doubt) or if you prefer VUCA (volatility, uncertainty, complexity and ambiguity), for the next two or three years. http://www.investopedia.com/terms/p/presidentialelectioncycle.asp
We need more leadership and less management to set a new direction and get people believing again.
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
"We are more confident than ever about the opportunity this transaction brings," Stephens said of AT&T $49 billion acquisition of DirecTV. "We are building a unique communications and entertainment company that we believe will not only transform us but transform our industry as well."
The AT&T and DIRECTV merger approval by the FCC may come just in time to help both companies as the pay TV market seems to be contracting.
For more on the current condition of the pay TV industry read:
U.S. IPTV has slowest customer growth ever, as FiOS and U-verse combine for only 4K new video subs
When negotiating, how do you drive a hard bargain without burning important bridges?
Share! Listen! The real goal may not be what you assumed before sitting down at the table. Valuable information is communicated in small talk. Just remember that it goes both ways.
Do not be a robot. People want to do business with people. They prefer people that they perceive to be like them. Without some conversation, it is hard to convey who you are and to find out what the other desires.
Capping months, if not years, of speculation about its fate, the Financial Times has been sold to a new owner in an all-cash transaction.
Since the Internet, selling a newspaper is one of the few ways to make money in that industry.