Advertising is a one-way street with significant drawbacks. It may take more effort, but engagement will build a deep connection to customers.
Together, we can change the World. Corporate and Business Strategy in the Post Industrial, Digital Economy. Visit me on LinkedIn: www.linkedin.com/in/karlwabst/
Curated by Karl Wabst
Change isn’t a command and control effort cascading its way through the hierarchy level by level, it moves through an organization or community like a virus person by person.
There are different types of change that occur in companies. The type we think of first, process change and culture change. Since I have a small space to work in here, I will generalize and divide change types. One is simple and the other complex.
Simple change involves a localized process. This makes a difference since it effects fewer people. Culture is more homogenous. Fewer people are required to agree on what form the change will take. More of the change focuses on the mechanics. Local process change can be done by following basic project management steps.
Change that is more complex crosses department, perhaps even company borders. There are more moving parts and egos involved. Local leaders have less control and influence. More people, from differing cultures, have to be convinced. This requires more participation, and power sharing.
Leaders that are used to local, process change will have more trouble. This article gives leaders a path to changing themselves to be successful at complex changes.
Here we are, a quarter century into the digital revolution, yet many companies still agonize over whether to invest significant resources in digital capabilities. Those that have done so tend to run their digital operations as independent business units—the way companies prefer to manage them, as opposed to the way customers expect to use them.
Are your stores competing with your online presence? Who is winning?
It’s probably not your customers. They’re confused why the two don't work together.
Think fusion to create competitive advantage. Do what meets customer wants and needs, not what is convenient for you.
See also:Leading a Digical℠ transformation
The promise to consumers is almost always the same: The more data you give us, the better, and less expensive, the service we give you. Nest keeps you comfortable and slashes your energy bill. Facebook connects you with people and things you didn’t even realize you were missing. Disney promises shorter lines.
Do you know about data?
Data is an asset most companies squander.
Data is an asset about which most consumers have no clue.
Learn how you can leverage the asset to your advantage.
Look straight ahead into the slot machine. Don't blink.
Tin foil hat optional.
How can you thrive in a rapidly changing market? By continuing to learn and develop new skills even once you hit the C-suite. Here are some ways to start:
Here is another tip to keep learning once you hit the C-Suite.
Stop yourself if you regularly say something like, "Why change now? We have always done it that way."
A closed mind cannot make room for new ideas.
A trio of new roles arise for data management -- chief data officer, chief digital officer and chief analytics officer. What these roles have in common is that they are new, having been created in the past decade. Whether those roles will be around in the decade afterward remains a question.
Once organizations get wise to the fact that data is an asset, and not another cost center these jobs may go the way of the dodo.
You get the behaviors you pay for. Doing the “right thing” puts the focus on efficiency.
That is good for a commodity product. One widget is just like any other. Widget customers focus on price.
Doing the “thing right” for customers puts the focus on innovation.
Car companies always show how special their cars are. Our car will make you the envy of your neighbors and friends. You have arrived!
It is good to know when a GM product has arrived. Knowing when to get out of the way could be important.
Arnie Gullov-Singh is chief revenue officer at Polyvore, the world’s largest style community, which offers “a new way to discover and shop for things you love”. This young, innovative company was founded in 2007, has been profitable since 2011, has raised over $22m in funding and now boasts 20 million users.
By creating the right culture, it is possible to move from the server farm to the C-Suite.
Alarm fatigue affects every constituent in the healthcare system. Patients die or are left with life-altering injuries. Patient’s families lose loved ones who would still be alive if a missed alarm was noticed. The healthcare organization is affected through lawsuits, penalties, and damage to their reputation. The same is true for individual staff, who may also suffer emotional trauma due to guilt and regret.
Change is constant.
Think about the many new and familiar sounds that have changed, from the sound made by a speeding car (gasoline vs. electric), to the alarms in our workplaces.
Add device vibrations, flashing lights and pop-up boxes. Most are supposed to add value.
En masse, the methods meant to grab our attention may do the opposite. Too much of a good thing is bad.
The moral of this story is leaving people to their own devices may kill you.
“It’s a massive opportunity to manufacture short runs cost effectively and manage SKU proliferation to our advantage.”
Digital disruption sounds technical. It is not about technology.
It is about how people use technology to disrupt and transform business.
Businesses it is time to get your IT people out of their shell. IT has a lot to contribute to business. First, IT people have to learn that they are in business, not IT. Business people also have to learn that IT people can do more.
Together, we can change the world.
As a recruiter you have so much to think about: advertising jobs, sourcing candidates, competing not just with you traditional competitors, but with your clients and candidates – everything’s online now and everyone has access to what you have access to. How do you differentiate yourself? How can you make yourself stand out?
If you are a recruiter and do not contribute value through social medial, odds are you will lose out to another who adds value.
You ask all sorts of personal questions. If I do not trust you as a person, I may not answer or purposefully misdirect you.
There are plenty of scammers out there asking for social security numbers, or for visa numbers, etc. As many have learned, trust is earned in business.
Some recruiters do not use their real names. I have confirmed this with real recruiters. Strictly speaking, this is legal. It is not the way to build trust.
You do not add value to my life if I have to explain why you should be on LinkedIn so candidates can get a sense about who you are and where you have been.
People do business with other people. The economy may be in the dumper. Do not assume candidates will jump just because you say so.
There ARE Good Recruiters Out There. Be prepared to show that you ARE one of those. After all, you want to know all about your potential candidate.
For more on Social and Recruiting, click here
Your Content Strategy Is Also A Recruiting Strategy
What Can You Expect From a Legal Headhunter?
Add Value Or Someone Else Will
When leadership fails, it's usually not because people have forgotten how to lead, McChrystal concluded. Rather, it's because they've made the mistake of assuming that today's strategies will continue to work indefinitely.
If you are still traveling at the speed of paper, your strategy is doomed.
We constantly hear that companies are having a hard time finding qualified candidates. I suspect companies and candidates are both being victimized by the historical black box recruiting model.
Recruiting is broken. The old model of trusting second or third party recruiters to attain qualified candidates is outdated and ineffective.
The pace of change in the global economy has clearly outpaced the ability of today's recruiting machine.
Not a day goes by that does not bring some clueless individual, armed with a ten-year-old resume to my door. Resumes are a commodity. They are generic documents that are resold repeatedly. Many recruiting firms retain resumes until they have little economic value.
Fishing with old bait will not feed your family. The freshness of resumes is hard to detect to the average recruiter. The top entry always says it is current. That allows documents to appear fresh forever.
How can this be in our technology age? Technology was supposed to fix such problems. It has somehow done quite the opposite.
The world has changed and so have job seekers. I seek information about every recruiter and company before I return a call or email. LinkedIn and Google are tools. Many of the recruiters I talk to are sales people. Many have no experience with your industry or the people who work in it.
This should alarm CEOs and HR departments who pay to retain these recruiters.
I believe that the problem is economic. Fresh resumes cost money. If most recruiters cannot judge freshness, why not sell them an old resume. Why pay for a new resume when we have this perfectly good ten-year-old model?
If this is the recruiter’s resource, it is a small wonder they produce inferior product. It may not be the recruiters fault. I have spoken with many who have no idea that the tools they are given are pitifully outdated.
Social recruiting uses a pull model instead of the historical push model. Marketing has shown success using the social model to bring in new customers. Applying similar practices in recruiting stands a chance of refreshing the candidate pool with new blood.
Try social recruiting to attract new people who are interested in you and motivated to learn about your strategy and industry. Your future and our economy are at stake.
In 2006, I moved to Mumbai and as soon as I landed, I looked for a taxi. A smiling taxi driver came up to me and asked me where I wanted to go....
This parable that takes place in Mumbai may sound familiar if you have ever tried to get a cab for a short distance at Los Angeles International Airport.
I suppose bad business is not limited to geographic location. That must be what they mean by global economy.
Most strategies fail to be implemented correctly. The companies that succeed are those which concentrate on creating strategy which has people and implementation at its heart rather than having annual planning exercises masquerading as strategy.
To get to the Promised Land, you must take your company on a journey. You have a plan.
A plan is not enough. To succeed, you must implement the plan. If you are a leader, you understand the phrase “the Devil is in the details.”
Begin by selecting your magic circle of executive conspirators. It is vital that you all model the behaviors of your strategy. Words and actions communicate it out to the rest of the organization.
Assume employees, customers and investors watch you every step of the way for clues of what is to come.
On the journey, your two major resources are money and people. Both are limited. Here is a clue. Invest in your people or spend a lot more money.
If you do not have the right people with the desired behaviors and capabilities in place then be prepared to fail.
Good strategy describes a desired state or ideal future for a company.
✔ Where to Compete
✔ How to Beat Competition
✔ Core Capabilities
✔ Management Systems required to manage people, process and assets
Play to win.
Unfortunately, some founders and CEOs, especially at early-stage startups, confuse culture with perks or, worse, believe that defining a company's culture is a task best left up to someone else.
The biggest myth is that culture does not matter. We are all about technology, the product, the customer or whatever.
Culture happens, even when you are not paying attention. I have worked at a few startups.
Believe me, culture matters. When you spend 16 hours a day at work, this is easy to miss.
“However beautiful the strategy, you should occasionally look at the results.” And as managers know, an important part of getting the results you want is ensuring employees “get” the strategy so they can carry it out. - Winston Churchill
Be the leader your employees need. Be visible. Go talk to them where they are. Listen to what they have to say. Otherwise, you may be running a faith-based organization. Is that your strategy?
An ideological gulf has opened in today’s business world, between companies that look outward for long-term value and those relying on internal resources.
The way a company expresses its purpose, goals, and how it plans to achieve those has a direct effect on how it is organized. It determines how things are done. It plays into who is hired, reassigned and fired.
There is not one right answer. Quoting Steve Jobs or Henry Ford sounds smart, but their decisions may not apply in your organization. Maybe they do. Either way, it should be a conscious decision.
Strategy is not magic. It is a set of choices. These choices determine who your customers are. They determine where you should and should not compete. Strategy gets translated into policy, and behaviors that flow down throughout the organization.
Investors and customers are watching. They are talking about you. Should they invest their money in you? But hey, no pressure.
Employees should think about this as well. Are you in the right position or company?
Buried in the discussion of earnings, margins and emerging networking technology was his stark admission that the company’s sales model is changing in the era of the cloud, which makes it easier for people who don’t have technical training to buy software.
"Amid the shift, CIOs may not be fielding as many calls from Cisco as in the past. Mr. Chambers said, 'We’re selling to the business unit more than to the CIO now when we do our job right.'"
This change is another signpost on the highway of digital transformation. CIOs should pay attention to this switch from a major vendor.
If your IT departments still operate in a silo, they may find they do not know what is going on within their company. IT professionals must learn to speak business. Business units have learned to speak IT.
Stop trying to manage change and start leading it.
We are all in sales and marketing now.
The capability to executing strategies successfully is a competitive advantage of paramount importance. Therefore it needs to be built systematically in every organisation which wants to strive long-term.
Summer Strategy Reading List
The Killers - Barriers in Strategy Execution (part I)
The Silent Killers - Barriers in Strategy Execution (part II)
Playing to Win: How Strategy Really Works
The Big Lie of Strategic Planning
Making Strategy Work: Leading Effective Execution and Change, Hrebiniak, 2005
Implementing change with impact from McKinsey
In business, last century’s great is likely today's average.
Get up off your laurels! Stop living in the past.
Your achievements were great. That was then. This is now.
Today has a short memory.
What have you done for me lately? That sounds harsh, I know.
Learn the lessons of history. Apply that knowledge to today’s challenges.
To get to the next destination, we need less management and more leadership.
We need courage. Rise up!
Humans are social creatures; we fall readily into group loyalties. We instinctively divide the world into “us” and “them” and treat others very differently according to which category they’re in.
Leaders, rally your people around a common mission. Being us is powerful.
Beware whom you make the enemy. The line between them and us is thinner than you think.
Soon, your competitor could be part of your company. One of those them may become your next boss or coworker. Merger and Acquisition makes unexpected bedfellows.
A less risky idea is to unite to provide the best customer service. Reduce waste. That way, everyone wins.
We have met the enemy. They may be the next us.
Are you with us or are you against us?
Change is the rule. Uncertainty abounds. Complexity and ambiguity are the new normal. Choose wisely.
Huntsville, Alabama, tops this list of cities with America's most engaged employees.
It is nice to be engaged.
Does being happy with your company mean those employees do a better job serving your customers?
Why 'Employee Satisfaction' Is the Wrong Metric
LinkedIn, the social network for professionals, has agreed to pay nearly $6 million in back-pay and damages for having short-changed its own employees
Bad process will cost you in the end.
Leaders who can explain corporate and business strategy in terms that a new employee can understand are rare.
Many executives cannot translate strategy into terms that make sense to their employees.
That strategy vision thing sounds great chief! I have one question. What does it mean to me? How does what I do every day help the company make money? I want to help. What can I do? In my last job, we did it this way. I guess this company is just like my old job. The one I left because I was bored.
Doing things the same as every other company drives mediocrity.
If your leaders cannot communicate why your company is different, employees cannot show customers. Worse, customers will not understand why they should value doing business with you instead of your competitors.
If old employees cannot explain and show them a better way, expect new employees to keep doing business as they did at their old firm. Expect average, and get average returns on investment. That way, investors do not see any difference between you and Brand X. It is all the same old thing.
Inspire the troops and yourself. Connect and reconnect. What is your vision? Where are you leading people? What behaviors do you expect on the way? Tell them, and then show them. They will not deliver on your promise to customers otherwise.