Lobbyist for Comcast, Cox, TWC wrote bill to stifle rivals like Google Fiber.
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
Software that can read medical images and written health records could help radiologists work faster and more accurately.
Avicenna may take the place of a radiologist’s assistant. The next question is, what are the jobs that real people should be training for today?
For More on this topic
How Watson could be used to read radiology images in the ER
The trend across industries is that automation results in a drastic reduction of operational job roles, even as it brings in economies of efficiency. What then does
Some jobs in every job category will be threatened. That is why the people in those jobs today must invest in upgrading their skills for the new workplace.
This Is What the Fourth Industrial Revolution Looks Like http://sco.lt/6SBQvJ
It’s 7 AM, April 13th, 2025. Your smart clock rouses you from a dreamless sleep and you climb from bed as your house comes to life. The bathroom light turns itself on and the shower begins to heat its water. After washing off, you throw on a T-shirt which has been perfectly fit for your body.
The Internet of Things and robotics promise great change in the near future. Start asking "What skills will humans need to stay relevant in the workplace of the future."
Digital America: A tale of the haves and have-mores | McKinsey & Company http://sco.lt/7TjaO9
Davos 2016: Need To Embrace Robot Revolution Not Fear It, Tech Leaders Say http://sco.lt/7tWTGD
Davos: Fourth industrial revolution, same old problems http://sco.lt/7fkziL
Abu Dhabi 2015 - The Fourth Industrial Revolution http://sco.lt/5MimFl
Globalization for the little guy | McKinsey & Company http://sco.lt/5SNwm1
A moralistic, politically charged speech was all about ad blockers? Ah, how quickly the mighty fall in the Digital Age.
The disruptors are becoming disrupted by ad blocking. Should consumers feel bad for marketers?
When consumers choose to use ad blocking software they are telling marketers what they want. Or, what they will allow.
Will the industry change to give the people what they want? Will the people wait around for permission?
Welcome to the age of the empowered consumer.
More on this subject:
Study: Pre-Roll Ads Dramatically Increasing Ad-Block Installs http://sco.lt/6AFanR
The overall sentiment in 2016 is a readiness to embrace change: new consumer expectations for payment, mobility, security and engagement are driving restaurant POS investments.
There are big changes to look forward to at your favorite eatery. New menu items and gooey desserts? Maybe. This post is more about the business, not the menu.
Restaurants and others in the hospitality industry aspire to engage customers with their businesses. For example, there is a lot going on with point of sale systems (POS) that will affect how customers engage.
It is likely you will see changes whether you dine in or out of a brick-and-mortar restaurant.
What can you expect? Expect how you order, and pay to move to your own mobile device.
They also want to control exposure to rising minimum wages and health care costs. Due to changes in payment systems regulations they are also looking for ways to control security and privacy risks, as well as compliance costs.
Drivers for the transformation include rising labor costs, EMV or chip-based credit cards, combined with the Affordable Care Act, and PCI compliance. Embrace disruption. It is the new normal.
There are several interesting links providing the opportunity to learn more.
Customer data can provide organizational leaders with powerful insights about individual customers, including their needs, preferences, attitudes, and behaviors.
Companies continue to collect increasing amounts of customer data. The Internet of Everything promises even more data will become available. Companies promise tailored ads. Goods, services and experiences will be customized to meet needs and desires. Everyone rejoice! The end of irrelevant ads is at hand.
So far, they have been slow to turn the unique information they have about their customers into competitive advantage. Now even our operating systems, smart phones and televisions report back to marketers in the name of better, more personalized services. Customers are concerned. Trust in corporations is falling,
We have all been stalked by ads across multiple web sites. Is that all customers can expect? The behavioral tracking has provided fuel to the ad blocking industry. This has created a battle between an entrenched industry and startup software developers. OK so advertisers get points for job creation. The question remains, what is in it for the customer?
If companies delivered on the promise consumers would be less likely to be as concerned about their privacy. Consumers see value in their data. They are becoming more sophisticated and expect value in return. Notably, customers expect transparency and options about how their data is collected.
If companies aspire to hold onto existing customers and lure new customers, there needs to be less strategy and more execution. Analytics will evolve but companies have to change how their people work together to turn the promise into a reality.
Digital transformation or digitization promises a lot. Until we change how our people do their jobs, the promise goes unfulfilled.
Customers are watching and talking about you. Leave the silos to farms. Look past IT and marketing solutions. Every person in your organization can contribute to customer experience. Every person can also damage it.
Analytics and digital business are not technology programs. These are business investments. Sooner or later, shareholders begin to question if they are getting more value for accepting the additional risk.
The time is right for more customer engagement and less customer management.
Fourth industrial revolution? For me any mention of industrial revolution conjures up textile factories, soot-covered children up chimneys, and aggressive looking Luddites. Instead Schwab wants us to consider a fresh revolution, all about technology and how mankind can put it to the best possible use.
Expect more of the same old problems but @ Warp Speed. What are you doing to prepare?
There are major risks, issues, and opportunities as a result of the Fourth Industrial Revolution.
Digital is a state of mind enabled by technology. People are a big piece of the equation.
For more on what we and our companies can do, look at Digital America: A tale of the haves and have-mores | McKinsey & Company here http://sco.lt/7TjaO9
In a highly volatile marketplace, success may be your greatest vulnerability. Today's Netflix may be tomorrow's Blockbuster. Invent the future customers desire - before they want it. Do that every day and you are evergreen.
Pre-roll ads labeled among most intrusive, 80% say they would turn off ad blockers for better online experience.
Most consumers simply ignore online ads. Yet, this is a high-stakes fight.
Why advertisers care: Ad blocking is a fight for industry relevance and corporate profit.
Why Consumers care: Consumers pay whether or not they ever buy anything a company advertises.
According to the IAB Ad Blocking Study – Online Consumers Views and Usage of Ad Blocking Technologies, September 2014
Key reasons why users started using ad blocking:
– Learned about the existence of ad blocking technology
– Their computer became infected with a virus
Key factor consumers continue to use ad blocking:
– To protect devices against viruses
– To increase computer performance
– A general dislike of advertising
– Distracting ads
Consumers would turn OFF ad blocking:
– If unable to view online content unless the feature is disabled
– If the site looks trustworthy
– To get the ad experience
Why advertisers care:
More interesting stories on the costs & benefits of ad blocking
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
US economy as a whole is realizing only 18 percent of its digital potential. #McKinsey.
Digital is a state of mind enabled by technology. Employers, Upgrade your people, not just their tools. Your customers will thank you. Employees, digital is not about the technology. It is about feeding your family. Do not be on the wrong side of the Forth Industrial Revolution.
Digital America: A tale of the haves and have-mores
Forth Industrial Revolution.
Davos Forum: What is the Fourth Industrial Revolution?
The world is certainly going through a shift in the way we think about leadership these days. Executives have begun to recognize the importance of a people-first approach to business. Workplaces are throwing out the old hierarchy and beginning anew. We are questioning the norms of office culture and management, leading to better business outcomes, more engaged employees, and happier workplaces.
Leadership and change is not all in your head. You have to change behavior. But, it helps if you understand your brain.
Amygdala Hijack & Emotional Intelligence
Change is a leadership process, not a management edict. Without strong leadership, all is lost. Oh here, try on this SCARF. It goes great with uncertainty and helps calm employees’ and customers’ lack of trust.
Social is entering adolescence, not maturity, and establishing itself more firmly among its established marketing companions.
The practice of isolating social media into a separate function are on the wane. This is the point where Mr. Command and Control says, but that is not our policy!
Even the US military recognized the futility of trying to contain the flood of technology and the change in the capabilities of its personnel. Need proof? Read the Strategic Leadership Primer, 3rd ed. From the US Army War College. Buy a copy through Amazon here: http://www.amazon.com/Strategic-Leadership-Primer-Edition-Understanding-ebook/dp/B00IY7SEW2. Get a free pdf here: http://www.carlisle.army.mil/orgs/SSL/dclm/pubs/slp3.pdf.
If you want a policy and to spend time and money trying to contain employee creativity that is up to you. Your competitors are looking for a competitive advantage. Developing digital capabilities through their company allows them to take the initiative rather than waiting for their social media team to get around to responding.
Whether or not it is sanctioned, your people are already talking about you with your customers. Develop leaders and brand champions. The world has enough droids already.
There are great opportunities available to many US business sectors. There are also great risks.
To capture business value companies have to change how management and employees think and behave. Companies, the public and the government should expect a large amount of economic dislocation. What does that mean?
Expect automation to replace more jobs and redirect careers. Without change in people’s mindset, attitudes and behavior the number of available opportunities for our citizens will shrink.
There may be an app for that but, going digital is not a technology exercise. Technology is just a tool. We have to bring people along. They are harder to reprogram.
What to read next.
Digital America: A tale of the haves and have-mores
Once upon a time, a snow day meant a day away from work because you couldn't make it to the office or you had to care for kids who were home from school.
Good start to a discussion about how technology is changing employer and employee expectations about snow days.
Do you have an incident response plan in place? Do your employees know what is expected of them?
Customers are likely to be just as stressed about the weather. What will they expect? How will they know when you will return?
The onslaught of automation that's replacing human workers -- from golf caddies to bank tellers -- may be putting us on a path to humanitarian crisis, says Jerry Kaplan, author of "Humans Need Not Apply." As technology grows and jobs become obsolete, income inequality and poverty could follow for millions of Americans.
Consider new risks and opportunities when deciding on a career or a corporate strategy.
Some new choices are simply inhuman. That does not make them bad. These may be the droids you are looking for.
The so-called Fourth Industrial Revolution is here, but rather than fearing that robots will replace us, industry leaders are focused on potential benefits.
Are human resources up to the jobs of the future?
The Future of Jobs
Instead of waiting for the benefits of globalization to trickle down from large corporations, SMEs can become micromultinationals in their own right, and start-ups can be “born global.” Individuals can tap into opportunities, information, and ideas from anywhere in the world. Call it the new era of globalization for the little guy.
Digital business innovations are putting a dent in Porter’s Five Forces.
The Internet and new technologies lower the barriers to entering a new market. Entry of new competitors into your market can be accomplished without setting foot on your soil. If you market your product or service based on price, expect to be confronted on your own turf, by an enemy you do not know because you were busy watching traditional competitors. What makes you different? Why should customers stay loyal?
For management and employees still feeling comfortable consider that 89% of the Fortune 500 went out of business between 1955 and 2014. This is also called creative destruction.
in recent years, according to R “Ray” Wang of Constellation Research, 52% were merged, acquired, gone bankrupt or fallen off the list solely since 2000. Search for information about “the 4th Industrial Revolution.”
The threat of substitute products or services swirls all around traditional businesses. Companies like DISH and DIRECTV face competition on multiple fronts from companies offering substitute services to the pay TV model.
The bargaining power of buyers has increased greatly over the last 5 – 10 years as these customers find a voice through social media. The availability of more choices in products and services, not to mention substitutes is creating more concern around customer engagement by organizations large and small.
As markets and tastes change, the bargaining power of suppliers also rises. If you are not willing to pay me what I want, I can take my offering to your competitors. To return to the pay TV market for a moment, consider the number of outages DISH and DIRECTV have been threatened with or actually experienced due to rises in fees for media content.
Expect the rivalry among existing competitors to increase as markets become more volatile, uncertain and complex. Where there was once only a bright future, Boards may now see more ambiguity.
At the beginning of the 1st Industrial Revolution, the need for labor in cities sparked a great migration from the countryside. It also sparked the need for managers who could use new methods to get things done on time and within budget.
The 4th Industrial Revolution has begun to highlight the need for vision, understanding and clarity. Instead of managing, we need leaders who can take the old model and prepare its people and practices to change continuously. Agility is more than a management buzzword.
The future is not all doom and gloom. Wherever there is risk, there is opportunity. Keep doing what you have always done and you may be done. Unless you learn to change, you will not even see the bullet that kills your traditions.
2015 was clearly a big year for the unicorn, with 81 new entrants joining the club, including one decacorn. It’s interesting to see that about 40 percent of the 2015 unicorns are based outside of the U.S. That number for all unicorns is around 30 percent … meaning that extremely high-value startups are becoming more global.
Spoke uses a fairly liberal definition of the term “unicorn,” counting any company valued at more than $1 billion and founded less than 25 years ago. That’s a long stretch of time, but 75 % of those companies listed were founded in the last decade.
http://www.weforum.org/ Humankind is at the threshold of a new industrial revolution driven by the confluence of a staggering range of emerging technologies....
The 4th Industrial Revolution is the next chapter for those just starting to look at how digital is disrupting the marketplace. This is not the future.
Why does it matter to you? You may be replaced, or augmented, by a very small chip.
SpaceX and Sierra Nevada are at the vanguard of companies seeking to reuse expensive craft to squeeze costs so spaceflight becomes more affordable for consumers.
It seems like the commercial age of space flight has blown by the government model.
Only a decade ago the FTC had to issue a consent decree to allow a merger between divisions of Boeing and Lockheed. Delta and Atlas. This was how ULA came to be a corporation.
ULA produced some great results but their strategy seemed focused on efficiency or cost, versus innovation and differentiation. This is usually better strategy for a commodity market. The pace of innovation seemed better suited for evolution than revolution.
Perhaps Elon Musk just has a better press agent. The new competitive business environment caused tangible change at top-heavy United Launch Alliance (see "ULA trims its leadership 30% as it readies for SpaceX launch competition" here http://www.bizjournals.com/denver/blog/boosters_bits/2015/06/ula-trims-its-leadership-30-as-it-readies-for.html); and "ULA Executive layoffs…” Mother’s Day Massacre" here https://forum.nasaspaceflight.com/index.php?topic=37586.0.
Do not count ULA out just yet though. There are some great minds there that are now feeling real pressure to innovate.
Once they get the hang of market competition, rather than government dependency, they may surprise everyone.
In a somewhat different vein, hopefully, the governance programs are maturing just as fast. It is one thing if Toyota's obsolete quality program crashes a few cars, but having rockets blow up or crash frequently would quickly bring the risks into focus for the American public and company shareholders.
As CFO, preparing a company for sale and maximizing exit value can be a critical part of your role. For private equity-owned businesses, such preparation often begins years in advance of a sale, but it can create value even if the company isn’t ultimately sold.
This is sound advice to position a company for sale with the best return on investment to shareholders. The irony is that if a company had paid attention to its data assets in the first place, it is less likely that it would be putting itself up for sale.
“We have always done things this way” summarizes the root cause for many organization’s failures. If you had realized the assets you had, you might still be a going concern.
If you are at the point of selling your company, it is likely that you failed to get a grip on your data. So file this advice in the we were just too darn busy to see what we had all along file.
If your job is to bake bread, and you have no idea of the freshness of its basic ingredients, it is likely your results will have significant variation. Sometimes it would taste great. Other times it would taste just OK, but nothing special. Sometimes, they would taste bad. Not many customers are going to come back after trying your breads.
In case you have not been playing along at home, data is the basic ingredient. To return value to shareholders when you sell your business, understand the data assets you have and who is likely to want them, and how much they will pay to acquire your assets. Sometimes data sells for more than the dollar value of the business as a whole.
If you are in the head position of this company, your customers are leaving in droves because your breads do not meet their expectations. It is unlikely that you will save your head position by admonishing your customers to just eat your cakes instead.
This is 2016, there are so many other choices for bread, and business owners willing to change to suit your customer’s tastes. Sadly, you are alone in an empty store talking to yourself. By the way, the rent is due and so is the bill for all those wasted ingredients.
It may not be too late. Listen to your customers. Change the way you have always done things. It is a jungle out there! Follow this advice if you want to change your fate.
Direct the rider, motivate the elephant, and shape the path. If you do not recognize this reference, pick up a copy of Switch: How to Change Things When Change Is Hard from Amazon (http://www.amazon.com/Switch-Change-Things-When-Hard/dp/0385528752).
They’re the reason you use emojis instead of email and Snapchats instead of real chats. But will millennials also upend the wine establishment?
Whether Millennials, or any other group changes what wines are served or are popular in your establishment should first depend on your business aspirations. Before you change anything, write down your strategy. If you go over five pages, you have gone too far.
Who is your target customer? The answers to these questions should precede choices on where to compete, critical capabilities are required and which management systems you need to reinforce and measure progress toward your goals. Chasing every trend is not a good strategy.
Businesses get into trouble when they try to be all things to all people. Each organization needs a strategy and the flexibility to change. Stories that resonate with your audience are a valuable addition, regardless of the age group. Humans tell stories. The stories you tell and how you tell them depend on how you answer these basic strategy choices.
Today’s target market, customer segment, demographic, marketing channels, product category, geography, or production stage may change. If you are making strategy based on what current customers want, you are already at risk.
You need to listen to today’s customers, but also capture enough data to predict what your target market will want in years to come. There is not enough time to react, retool and retrain if you want to retain today’s customers while you attract tomorrow’s. Current customers are still cheaper to retain. You need their money to stay in business.
Improve your organizational capacity for change if you want to acquire and retain the new breed of connected customer as their desires, wants & needs evolve. Change in today’s economy happens more, faster and effects more people than 20 years ago.
Prepare for tomorrow, yesterday or today if you must. Just do not rest on tradition for long. There are more competitors than ever before.
In today’s marketplace, evolution is the new normal. This advice may not be trendy, but considering that 95% of new businesses fail, do not try and fly by the seat of your pants. Let me know if you have far too much money and are looking to throw some away.
Consumers, drink what you like while you wait for businesses to catch up. Many are still trying to figure out how to listen. Then, they have to figure out how to change fast enough.
There is plenty of time to get old and set in your ways. It happens to every generation eventually. It does not matter how cool you are today. Your kids are going to laugh at you just like you laugh at your parents now. Drink whatever wine you like.
EMC plans an unspecified number of layoffs ahead of its acquisition by Dell as the data storage company attempts to cut annual costs by $850 million.
Most mergers fail this simple test. How will merging semi-successful companies create value for customers and shareholders? Who says capitalists do not have a sense of humor?