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Why Don't More Shoppers Worry When Big Data's Watching?

Why Don't More Shoppers Worry When Big Data's Watching? | Business Transformation | Scoop.it

You wouldn't know it from the lack of public outcry, but 64% of retailers are collecting Big Data tracking their customers' shopping behavior, according to a recent study. The same survey shows that a majority of shoppers are barely aware of tracking by retailers, and those who do know about it don't care enough to resist.

Karl Wabst's insight:

Ignorance is bliss when it comes to customer behavior tracking.

 

Perhaps the Privacy movement failed in their public awareness campaign or consumers are too tired from fighting more obvious battles, like trying to keep above water in a terrible economy.

 

There are indicators that consumers will protest if tracking becomes obvious. Retailers should be aware that a misstep that finds its way into the public consciousness is likely to spark wide reaction.

 

This story will continue to unfold. Stay tuned.

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Business Transformation
Corporate Strategy in the Post Industrial, Digital Economy. Visit me on LinkedIn: www.linkedin.com/in/karlwabst/
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Unencrypted-laptop thefts at center of recent HIPAA settlements

Unencrypted-laptop thefts at center of recent HIPAA settlements | Business Transformation | Scoop.it
Concentra Health Services, Addison, Texas, a subsidiary of Humana and a provider of occupational medicine and other health services, has agreed to pay the Office for Civil Rights more than $1.7 million in a federal Health Insurance Portability and Accountability Act privacy and security rule settlement, the HHS agency announced.
Karl Wabst's insight:

The problem here isn't a failure to encrypt laptops. The problem is bad management.

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Trademarks of a great boss: Provide growth opportunities

Trademarks of a great boss: Provide growth opportunities | Business Transformation | Scoop.it

Of course you’re already a good boss, or you wouldn’t be reading this article. You may even be a great boss. But how do you stay at the top of your game?

Karl Wabst's insight:

Great bosses learn early on that it's not all about them and their goals.

 

To succeed a boss has to inspire employees to excel. They have a goal, and a plan to get there. They recognize talent and nurture employees.

 

That does not make them soft and cuddly. They know getting results through their people will help them rise. It makes good business sense.

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Cyber Risk: Are Boards the New ‘Target’?

Cyber Risk: Are Boards the New ‘Target’? | Business Transformation | Scoop.it

The shareholder derivative litigation against Target’s board of directors may be the start of the next wave of shareholder class action litigation – an action taken when shareholders allege that the board of directors has not satisfied its duty of care to manage such exposures.

Karl Wabst's insight:

6 steps to help organizations maintain financial and brand success by preventing data breaches and the losses related to them.

 

The CFO should guide the Board to exercise due diligence and direct management.

 

Shareholders to corporate America: Can you hear me now?!?

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Compliance Pays — No, Really

Compliance Pays — No, Really | Business Transformation | Scoop.it
A function that CFOs love to complain about actually adds to the bottom line.
Karl Wabst's insight:

Failure to find what you don’t look for is just a self-fulfilling prophecy.

 

It should be no surprise that when companies operate their compliance function on an ad-hoc basis they frequently find themselves scrambling to keep up.

 

These organizations teach employees that compliance is an annoyance. Small wonder that when management valuation is low, employee engagement is also low.  Garbage in – Garbage out.

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Offshore health record storage may pose privacy risks

Offshore health record storage may pose privacy risks | Business Transformation | Scoop.it

State Medicaid agencies could be putting beneficiaries' personal information at risk by offshoring administrative functions, according to a report from HHS' Office of the Inspector General.

Karl Wabst's insight:

Agencies may have Business Associate Agreements (BAA) with contractors as required by HIPAA, to ensure patient information is secure.

 

The ability to effectively enforce those agreements may vary.

 

Outsourcing includes arrangements inside the US (domestic outsourcing) or outside (offshore outsourcing). It can be direct (when a Medicaid agency contracts with an offshore contractor) or indirect (when a Medicaid agency's contractor subcontracts to an offshore contractor).

 

The report is available here:

http://oig.hhs.gov/oei/reports/oei-09-12-00530.asp

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How to Become a Tech-Transformed CFO

How to Become a Tech-Transformed CFO | Business Transformation | Scoop.it

Increasing dependence on technology has implications for corporate strategy, the CFO's role, the set of tools they use as well as how they interact with the rest of the business. CFOs are prioritizing technology initiatives that can drive efficiencies and revenue.

Karl Wabst's insight:

CFOs will be essential in driving business transformation as business models shift to become increasingly digital. 

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Explaining our website privacy policy and legal terms –

Explaining our website privacy policy and legal terms – | Business Transformation | Scoop.it
The discussion about the changes to our online privacy policy and legal terms is being pretty broadly mischaracterized. Even Forbes acknowledges this. No one is precluded from suing us merely by purchasing our products at the store or liking one of our brand Facebook pages. Here’s an...
Karl Wabst's insight:

General Mills took time out today to explain that they are not trying to prevent consumers from suing them.

 

They are taking a stand against the unethical practices of lawyers and the evils of class action lawsuits.

 

Here's your coupon!

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How to get employees to be more entrepreneurial - Fortune Management

How to get employees to be more entrepreneurial - Fortune Management | Business Transformation | Scoop.it
Decision-making is no longer exclusive to executives at the top. Here are five ways to instill leadership across your organization.
Karl Wabst's insight:

Command and Control are out; Collaboration and Teamwork are in. That means that corporate and personal accountability are required. How would you put this in place at your business?

WIIFM – Companies must communicate what’s in it for the employee. Rewards must be tangible and matter to the person.

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66 Things You Should Know About Your Customer

66 Things You Should Know About Your Customer | Business Transformation | Scoop.it

After many decades of being a business owner and salesman, I have never, ever changed my Golden Rule of Selling:  Know Your Customer. The company isn’t your customer.  There’s a person in that company who makes decisions about how the company is going to spend money, and who will get their business. That’s your customer.

Karl Wabst's insight:

Customer profiling and social business are not new. I began using the Mackey 66 to profile customers on Wall Street. I worked in corporate finance and wanted to improve DSO (Receipt of Cash).

 

To give you some perspective, the Black Monday Stock Market Crash was news. Networking and Lotus Notes were new. I combined them with behavioral and social psychology.

  

The result was that I became a better credit professional. I got a crash course in organizational change, privacy, security and audit at the same time. Today this is standard business practice.

 

We are all in Sales and Marketing. The technology changes but it's not about the technology. It's what you do with it.

  

My strategy is simple. Make your company someone your customer wants to do business with - especially during the hard times.

 

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How to Manage Talented People by Not Bossing Them Around

How to Manage Talented People by Not Bossing Them Around | Business Transformation | Scoop.it
Getting rid of managers may seem like just another tech trend, but much of the skepticism around going “bossless” or flat is due to misleading terminology.
Karl Wabst's insight:

Will your company copy Zappos' example in organizational culture transformation?

 

More here

No Managers Required: How Zappos Ditched The Old Corporate Structure For Something New

http://sco.lt/7XJCSH

 

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IT, Business Exec Gulf Widens, McKinsey Says - InformationWeek

IT, Business Exec Gulf Widens, McKinsey Says - InformationWeek | Business Transformation | Scoop.it

More and more executives are acknowledging the strategic value of IT to their businesses beyond merely cutting costs. But as they focus on and invest in the function’s ability to enable productivity, business efficiency, and product and service innovation, respondents are also homing in on the shortcomings many IT organizations suffer. Among the most substantial challenges are demonstrating effective leadership and finding, developing, and retaining IT talent.

Karl Wabst's insight:

I have worked on both Business and IT. My clients are large firms around the world.

 

You've got a big problem when IT and business are still thought of as separate.

 

Businesses should be using both technology, and all of their people, to engage customers. Anything less is a cultural disconnect.

 

There are risks being overlooked. Worse, there are likely a lot of missed opportunities.

 

The Board ought to get involved. Shareholders should not be forced to accept the risk of IT without realizing increased benefits.

 

IT under pressure: McKinsey Global Survey results

http://www.mckinsey.com/insights/business_technology/it_under_pressure_mckinsey_global_survey_results/

 

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The Story of Microsoft's 'Bliss,' One of the Most Famous Photos Ever Taken

The Story of Microsoft's 'Bliss,' One of the Most Famous Photos Ever Taken | Business Transformation | Scoop.it

Microsoft wants to make sure you remember the famous image  of the blue sky and rolling pasture that graced so many computer screens for so long.

Karl Wabst's insight:

Looking back on this shot is like looking back on the history of Microsoft.

 

MS transformed this picture into an iconic background for its now defunct XP OS.

 

Ironically, the picture was captured on analogue film.

 

Wide open green pasture and blue sky. This was Microsoft’s view of the World back then. Bliss!

 

Today, there would be a little green robot, and maybe a penguin lurking.

 

Both are staring at a tablet and cell phone while a desktop PC sits waiting.

 

Now we wonder, "Can MS transform themselves for the 21st Century."

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Wyndham Can't Shake FTC Data-Security Suit - Law360

Wyndham Can't Shake FTC Data-Security Suit - Law360 | Business Transformation | Scoop.it
A New Jersey federal judge on Monday refused to shut down the Federal Trade Commission’s closely watched data security suit against Wyndham Worldwide Corp., rejecting the hotel chain’s argument that the regulator had overstepped its statutory authority in bringing the action.
Karl Wabst's insight:

Section 5 of the FTC Act isn't about data security. The FTC has used this regulation to allege that inadequate data security/privacy  is a deceptive business practice. It contradicts promises made in corporate policies that the company will protect customer's data with "good," "adequate," or "reasonable" security measures.

 

The FTC and the New Common Law of Privacy

For more legal background about FTC privacy and data security enforcement, please see this article from Profs. Daniel Solove and Woodrow Hartzog. The article was published in Aug 2013. The final published version can be downloaded for free here:

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2312913

 

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The Feedback Loop: More Data Doesn’t Always Mean Better Customer Service - Knowledge@Wharton

The Feedback Loop: More Data Doesn’t Always Mean Better Customer Service - Knowledge@Wharton | Business Transformation | Scoop.it
Customer surveys, customer feedback, customer loyalty programs: Despite all these tools, it’s still not clear how much the information being collected benefits either the customers or the companies.
Karl Wabst's insight:

I prefer to give feedback in-person. That offers the benefit of a 2-way conversation with a real person. It is tangible.

 

People want to be heard. An online form doesn't satisfy that need.  Surveys and questionnaires don't capture the intent, or emotion of customer experience. They fail to link good behavior or poor behavior to the moment, or put it in context.

 

Many customers simply don’t bother filling out the forms. Only highly motivated consumers take the time.


Look at a Bell Curve. The bulk of the sample falls in the middle, not at the edges. Online surveys and even social media review sites capture the top and bottom 5% of experiences. It is not the real voice of your customers.

 

The current state of affairs doesn’t benefit the customer. It fails individuals who need training. Worse, it fails to recognize true ambassadors who should be rewarded. Often, a few great employees are carrying the load of others who give average to poor service.

 

 If your strategy is to differentiate on quality, you are failing to get good data. In the end you hurt your own shareholders and customers.

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Those Corporate Trust Exercises Aren’t Working - At Work - WSJ

Those Corporate Trust Exercises Aren’t Working - At Work - WSJ | Business Transformation | Scoop.it

U.S. employers have a trust problem. Only about half of U.S. workers feel their employers are open and upfront with them, according to a survey about work and well-being set to be released this week by the American Psychological Association. And one-quarter of Americans say they simply don’t trust the companies they work for.

Karl Wabst's insight:

The recession has created a generation of entrepreneurs and hourly contractors. Employees have learned to consider their careers and family first.

 

Many surveys show modern workers are not engaged. They are more likely to ask what’s in it for me. Part of this is due to culture change. Women, in particular are frustrated with the pay gap.

 

Untrusting workers are not looking out for your business and are likely poor ambassadors for your brand. The results of this survey affects customers too. Preoccupied employees will not do a good job servicing customers.

 

The bottom line is that workplace morale is a business issue, not an HR issue.

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LinkedIn IDs Company Accused of Creating Fake Accounts

LinkedIn IDs Company Accused of Creating Fake Accounts | Business Transformation | Scoop.it

Robocog Inc., doing business as HiringSolved,  used thousands of fake profilles on LinkedIn to harvest data for a recruiting service, the company alleges.

Karl Wabst's insight:

LinkedIn sued under the Computer Fraud and Abuse Act, the Digital Millennium Copyright Act and California's Comprehensive Computer Access and Fraud Act.

 

 

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Fortune's Best-Places-to-Work Companies Are Strong Stock Performers

Fortune's Best-Places-to-Work Companies Are Strong Stock Performers | Business Transformation | Scoop.it
Stocks for companies on Fortune's "100 Best Places to Work" list have had double the gains of others for at least 17 years, Russell Investments finds.
Karl Wabst's insight:

Employee engagement pays off.

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It’s Complicated

It’s Complicated | Business Transformation | Scoop.it

The sources of business complexity are, paradoxically, simple to trace. But separating out and subduing the strands of corporate convolution requires constant vigilance. Complexity spreads rapidly, like ivy, creeping into every function and department, squeezing the vitality from an enterprise. Trim it and it grows again, faster than before.

Karl Wabst's insight:

The full report, “Future-Proofing the Complex Modern Business,” can be downloaded at cfo.com/research.

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Is Privacy Dead? Google Proudly Says It Scans Your E-Mail

Is Privacy Dead? Google Proudly Says It Scans Your E-Mail | Business Transformation | Scoop.it
Google has updated its terms of service to clarify that it can scan e-mails for advertising purposes. The change comes after a U.S. District Court found the terms were not sufficiently clear for users.
Karl Wabst's insight:
With so many changes to IT and the economy more transparency is good. Google always did scan user email to determine advertising content. I wrote about this in "CRM at the Speed of Light" when GMail was first started.
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Real Business - Riding the VUCA wave: Ability to explore is key to business survival

Real Business - Riding the VUCA wave: Ability to explore is key to business survival | Business Transformation | Scoop.it
We're living in a period of unprecedented uncertainty and volatility and he trendy acronym for this environment is ‘VUCA’ - volatile, uncertain, complex and ambiguous. And it's not just the economic unpredictability that is so challenging, but the rate of change.
Karl Wabst's insight:

Good suggestions for Leaders dealing with faster rates of organizational and personal change.

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The hidden value of organizational health—and how to capture it | McKinsey & Company

The hidden value of organizational health—and how to capture it | McKinsey & Company | Business Transformation | Scoop.it

The health of an organization is based on the ability to align around a clear vision, strategy, and culture; to execute with excellence; and to renew the organization’s focus over time by responding to market trends. Health also has a hard edge...

Karl Wabst's insight:

What's your favorite recipe? Are you Leader Driven, Market Focused, Executive Edge, Talent and Knowledge Core, or none of the above?

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Rooting Out Hubris, Before a Fall

Rooting Out Hubris, Before a Fall | Business Transformation | Scoop.it

Had the Hare avoided hubris (and his famous nap while racing the tortoise), he would have handily trounced the tortoise, and moved on to signing autographs and giving press interviews. Pride did not just goeth before the fall; it actually caused the fall.

Karl Wabst's insight:

The workplace, marketplace and our personal lives change more quickly than ever. Being the Hare is more dangerous now than ever. Avoid the attitude and win the race.

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Throw Future IT Leaders In Pool's Deep End - InformationWeek

Throw Future IT Leaders In Pool's Deep End - InformationWeek | Business Transformation | Scoop.it
Fewer IT pros are being thrown into leadership roles and challenged to just figure things out. That's a huge problem.
Karl Wabst's insight:

I learned a lot by getting thrown into the deep end. I was willing to lead.

 

Those experiences led to my involvement with Terrorism, Military Attacks, Weather Events, and a Stock Market Crash. It wasn’t all disasters. I merged business and IT by bringing products to market, worked with Start-ups, on JV, M&A, and Outsourcing. I worked across the US, in the EU and Asia.

 

If the calls I get from recruiters are any indication, finding new opportunities has become a word matching exercise rather than a search for potential leaders.

 

Companies now seem to look only for people who already held a certain title or have 50 years’ experience with some obscure technology. This is how you find Managers, not Leaders.

 

Thank goodness this wasn’t always the case. The question I have is how do we turn this battleship around?

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Social media evangelist clashes with Oracle culture

Social media evangelist clashes with Oracle culture | Business Transformation | Scoop.it

Spend just five minutes with Jill Rowley and you will know that her tenure at Oracle Corp. was doomed from the start. Gleefully extroverted, Rowley likes to speak - no, shout - her inner monologue even when she knows better.

Karl Wabst's insight:

Oracle asked her to teach its sales reps how to use their social media accounts to sell its products. They made it her full time job.

 

Oracle may have been thinking evolution while Ms. Rowley was thinking transformation. The end goal may have been the same but the speeds the parties thought in conflicted.

 

This was a massive change initiative. The problems were predictable and preventable.

 

What went wrong? Here are some resources to help the change leaders out there.

 

Avoid 8 common leadership errors in organizational change efforts.

http://www.1000ventures.com/info/change_fails_jk_brief.html

 

Leading Change: Why Transformation Efforts Fail

http://hbr.org/2007/01/leading-change-why-transformation-efforts-fail/ar/1

 

10 Common Leadership and Management Mistakes - Avoiding Universal Pitfalls.

http://www.mindtools.com/pages/article/leadership-mistakes.htm

 

Advertising Age interview with Jill Rowley:

Oracle Puts Its Employees' Personal Social Media Accounts to Work - Software Giant Giving Social B2B Selling a Real Shot

http://adage.com/article/btob/oracle-puts-employees-social-media-accounts-work/291551/

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Hold That Tweet! Building Loyal Customers in the Information Age - K@W

Hold That Tweet! Building Loyal Customers in the Information Age - K@W | Business Transformation | Scoop.it

While the digital age has changed the rules of marketing, a panel of experts at the recent Wharton Marketing Conference suggests that the most effective outreach, even for international brands, centers on personal connections rather than random tweets or texts.

Karl Wabst's insight:

Just knowing a lot about someone doesn’t mean you have a relationship. You want to make it personal.

 

Collecting massive amounts of data just to target a sale can make customers feel like you're rummaging through their trash bins.

 

Blurting out random facts is not the best path to your intended’s heart. That’s creepy!

 

People want to feel wooed. We all have suitors appealing to our head and wallets every day.

 

First you have to build trust. Trust means I will go out of my way to do business with you, not just for a deal.

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