50 Reasons Why We Cannot Change and 5 ways to make real progress.
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
A due diligence investigation firm reveals social media's role in some of its most salacious cases.
Potential Investors and anyone on the Internet all feel empowered to choose sides & speak their minds. Sometimes they post stupid things that they live to regret.
People today are smarter. They can & will target you. They are watching; searching for leaders & scapegoats.
Engage the world! You must also anticipate consequences. Social media sites don't understand privacy. Your thoughts, opinions and data are the product.
On the Internet, they know you are a dog. They know where you live. You wear a size 5 red collar you got at Pet Co. Your favorite food is Alpo. When you believe no one is looking. You tinkle on the carpet.
In the 21st Century, someone is always watching. If you post it, they will find it at the most inconvenient time.
Watch this spot for McDonald's McCafe from the U.K. and you'll wonder why you ever went to an achingly trendy hipster coffee bar.
Some experiences are global. This targeted ad from the UK aims to save normal people from the pretentious coffee culture. While hipsters would be welcome at McDonald's, the experience may offend their refined pallets. Do you think this ad will convert café-goers? McDonald’s, for those who just want a cup of coffee!
Here are some keys to balancing value and values in today’s activist economy.
Activist customers, employees, brands, politicians & shareholders all feel empowered to choose sides and to speak their minds.
Technically astute, each uses smart, connected platforms to access global markets, choose products, and the prices they are willing to pay.
Each chooses with whom they engage - buy, sell and share data.
Each uses their clout to demand more value; comparison shop, or buy substitute products and services that meet the same basic need as industry leaders - just in a different way. Or they make their own!
People are listening. People are searching for leaders. They will settle for a scapegoat. We live in interesting times. Learn the tools. Use the tools. Say what you mean. Be ready for consequences.
Play to win in a marketplace where even neutrality takes a lot of hard work.
To make an impact as an IT leader, act as a business leader running the tech team, rather than a technologist waiting to receive requirements.
If your IT people cannot discuss business, they are not leaders. They may be managers. We need good managers. Now, more than ever, we need more leaders than managers.
Google is going to let advertisers target YouTube ads based on people's search histories, giving brands a whole new perspective into the consumer mindset.
This news will outrage some privacy advocates. Why isn't everyone outraged? The threat is clear and present. The answer is complicated. How complicated? Let's look through the eyes of a few different, and well-known friends, acquaintances and visionaries.
Here is a short list.
Google, Facebook and others in the search market know that even though a few consumers may object, relatively few do anything to change their search engine, search settings. Habit is a powerful force. For more about habit and customer loyalty read Customer Loyalty Is Overrated http://sco.lt/6lAP7R.
Don't overlook the counterpoint article, Old Habits Die Hard, but They Do Die by Rita Gunther McGrath https://hbr.org/2017/01/customer-loyalty-is-overrated#two
A few more may start using ad blocking services. There are some available, even on mobile. However, in the global marketplace the number of users actively blocking ads in smaller than privacy advocates like to admit. This is not to say that the search industry is not concerned about ad blockers.
There has been a lot of discussion about ad blocking. Most Internet users remain ignorant. It is a balancing act, part of the cost of doing business in the search and advertising markets. There is money at stake. How much? Read this to get an idea, Study: Pre-Roll Ads Dramatically Increasing Ad-Block Installs http://sco.lt/6AFanR
Here are a few of the findings.
While privacy advocates speak in terms of rights, right and wrong and emotion, it is beneficial to look at privacy, trust and advertising through the business lens.
Keep the Fundamental Equation in mind as you continue on. Profit = Price - Cost
The reason for all of the investment in the Internet is the pursuit of profit.
Costs include all resources used in competing. These are the resources that each company in an industry transforms to create value. That includes the cost of capital - the cost of funds used for financing a business.
Prices reflect how customers value an industry's offerings. That includes products, services and experiences. Prices that customers are willing to pay as they weigh their all of their alternatives.
Now, let's sprinkle in a bit of the Five Forces of Competition.
As rivalry among competitors in the search industry increases, profits tend to drop and the cost of competition rises. This will make shareholders and buyers of Google advertising services unhappy. Over time some may leave.
Google is aware that they have competitors. Some are well-known, while others are small and insignificant in terms of the big search engine's risk appetite. The will be watched, but for now, they are tolerated. As the number of substitute services increases profit go down, prices go down and costs of competition go up.
New market entrants will continue to jump over old barriers to entry. As the number of new competitors grows, industry profits will go down and the costs of competition will go up.
Supplier bargaining power. When you have powerful suppliers, they will use their negotiating leverage to charge higher prices or to insist on more favorable terms. Fortunately for the search and advertising industry, suppliers are disorganized. New technologies and methodologies like psychographics, predictive analytics and neuromarketing are evolving to mine existing data. User apathy and ignorance is also in the search industry's favor at the moment. As supplier bargaining power increases, profits will go down and the cost of competition will increase.
Customer Bargaining Power is another consideration. Increases drive profit down, sales price down & cost of competition up.
Porter refers to Customer Buyer Bargaining Power. Paul Greenberg describes a related phenomenon, the new breed of customers. In Paul's mind, this is where Customer Engagement comes in.
I use some of Paul's terms and blend in a bit of Porter to give my customers a sense of what to expect as today's post-millennials evolve.
Customers feel empowered to choose who they want to engage with - buy, sell & share data. Technically astute, they use smart, connected devices to access global markets, choose products, price; & use their clout to demand more value. They comparison shop, buy substitute products or services to meet the same basic need as industry leaders, in a different way. Or they make their own.
The consumers that Paul describes are represented in the Study: Pre-Roll Ads Dramatically Increasing Ad-Block Installs http://sco.lt/6AFanR
Here are a few more findings from the study.
As I said above, this is a complicated subject. We have just scratched the surface. Below are a few more links. Players that must not be ignored include various politicians, regulators, lawyers and academics. Each has their own take and skin in the game.
by Daniel Solove.
Read: Nothing to Hide: The False Tradeoff between Privacy and Security https://www.amazon.com/Nothing-Hide-Tradeoff-between-Security-ebook/dp/B0053PY3EQ/ref=dp_kinw_strp_1
'I've Got Nothing to Hide' and Other Misunderstandings of Privacy https://papers.ssrn.com/sol3/papers.cfm?abstract_id=998565
From Privacy to Trust Professionals
Just How Dangerous Is Alexa? http://sco.lt/9Clmbp
Trump’s plan for a comeback includes building a ‘psychographic’ profile of every voter http://sco.lt/8JppRZ
Psychographics Are Just as Important for Marketers as Demographics http://sco.lt/8Svrw9
Business Anthropology http://sco.lt/8etL3B
With big data comes big responsibility - FT.com http://sco.lt/54sXwn
How Political Candidates Know If You’re Neurotic http://sco.lt/5Z62Yz
Cruz campaign credits psychological data and analytics for its rising success
IAB To Advertisers and Content Providers: 'We Messed Up'
Fact: Mobile ads consume up to 50% of the data Mobile Subscribers pay for
IAB Explores Its Options to Fight Ad Blockers, Including Lawsuits
Let's Not Place All Our Eggs in the Do Not Track Basket
Finance chiefs are responsible for minimizing the risks that their organizations face in all facets of business—from supply chain operations and fixed-asset investment to payment processing and cybersecurity.
Good CFOs know that risk & opportunity are 2 sides of the management coin.
While the White House focuses on rebuilding manufacturing, an even larger job crisis is just ahead: a dramatic loss of employment in the US service sector, says James Heskett. Is anyone paying attention? What do YOU think?
Paying so much attention to returning US manufacturing jobs is horse and buggy thinking. There is a bigger trend stalking us.
Too many people stuck in the past thinking, talking and obsessing about their glory days. How they pass you by. In the wink of a young girl’s eye.
Our leaders used to talk about reaching for the stars. Those were the days! Now they threaten companies that move low-skill jobs overseas.
The Robots Are Coming … to Take Your Job http://sco.lt/7YfLyD
Low-Wage Manufacturing Jobs Cost Taxpayers $10.2 Billion in Public Assistance http://sco.lt/4nA0yP
The factory of the future is already here http://sco.lt/8JLg2r
The surprising truth about American manufacturing http://sco.lt/5UqGjR
A lot of people who make over $350,000 are about to get replaced by software http://sco.lt/6TPcrh
The Fourth Industrial Revolution http://sco.lt/6v8WK9
7 Things to Know about the Internet of Things and Industry 4.0 : Modern Machine Shop http://sco.lt/4qlBpZ
Manufacturing’s next act | McKinsey & Company http://sco.lt/8bg9FR
Manufacturing Transformations in 2014 | Innovation content from IndustryWeek http://sco.lt/5YlYbR
VIDEO: How Industry 4.0 Will Change Manufacturing Forever > ENGINEERING.com http://sco.lt/9DMVUX
China's Robot Goddess is the best 'humanoid' you're ever likely to see http://sco.lt/7Uw06z
Memo to Recruiters: Don’t Want To Be Replaced By A Robot? Stop Recruiting Like One http://sco.lt/6YLscT
IBM Watson Brings AI Wonders to Cybersecurity http://sco.lt/8eoIF7
How Digital Is Your Industry? http://sco.lt/4khYkj
Four fundamentals of workplace automation
Hacking the farm: How farmers use 'digital agriculture' to grow more crops http://sco.lt/7D8IKH
Rise of the Robot Tractors http://sco.lt/5Xxaan
As Skill Requirements Increase, More Manufacturing Jobs Go Unfilled http://sco.lt/5S7S6L
China Wants to Replace Millions of Workers with Robots http://sco.lt/8Ghrgv
A 19-year-old made a free robot lawyer that has appealed $3 million in parking tickets http://sco.lt/7FUX9V
IBM’s Automated Radiologist Can Read Images and Medical Records http://sco.lt/5k7Aqf
The Most Digital Companies Are Leaving All the Rest Behind http://sco.lt/5EDoDh
GE Global Innovation Barometer 2016 - GE Reports http://sco.lt/6O4EfR
If detected early, the five-year survival rate for melanoma is 99%. When detected in its latest stage, the survival rate plummets to just 14%.
One day, a cell phone app will help you figure out if that thing on your back is cancer. This device is no tricorder but Dr. Leonard McCoy, of the USS Enterprise, might be encouraged. Science, helping us to boldly go where no one has gone before.
The special bag comes equipped with a sensor connected to a microcontroller calibrated to detect small traces of alcohol on a person's breath. If any alcohol is detected, the sensor turns red and forms the image of a steering wheel, along with an Uber code and a "Don't drink and drive" message. The bag also uses near-field communication (NFC) technology, allowing fans to tap the bag with their phone to call a ride.
Listen to your chips. If they tell you that you are too drive to drunk, you probably is.
This is a novel public relations campaign. It makes you wonder though. What else will be connected to the Internet to monitor your behavior.
A surge in store closures is prompting some of the largest U.S. shopping-center owners to walk away from troubled locations rather than restructure their debts.
Mall owners need a new strategy to bring people into their spaces as retail continues to move online. Houses of consumerism might be turned into houses of worship, collections of health care providers, schools and entertainment venues.
In the future, Mom can pick the kids up from school, pray and have dinner while Dad gets an outpatient procedure. All of this, without leaving one building. No need to find parking all over town.
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
It's a Blowout: ULA 111, Ariane 73, SpaceX 0 http://sco.lt/6C4llJ
Musk’s SpaceX to Sue U.S. Air Force Over Launch Monopoly http://sco.lt/8oYhGr
SpaceX set for space station flight, booster landing attempt
'Close, But No Cigar': SpaceX Rocket Lifts Off and Lands With a Crash
Watch here as SpaceX launches second rocket that will attempt landing on floating platform http://sco.lt/4pGEQD
Musk’s SpaceX, Orbital ATK Split $14 Billion Pact With Newcomer http://sco.lt/83GD8T
Alphabet's Google Goes Into Orbit
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.