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Law Firms Bulking Up Intelligence Analysis Arms

Law Firms Bulking Up Intelligence Analysis Arms | crisis management | Scoop.it

In a profession that relies heavily on precedence, research of all forms has long driven even the business decisions of law firms. But in the past few years that function has morphed from one of printing out reams of information into one that involves targeted business analysis that often requires a leap of faith rather than following the doctrine of stare decisis.

Law firms are creating formalized competitive intelligence positions and departments. And that has meant finding the rare person, or in most cases group of people, who have the skill sets to gather, synthesize and analyze data with the ability to present it to a lawyer in a way that distills the data into a manageable, easy read and provides insights or suggested action plans.

 

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China's Strategic Challenge

China's Strategic Challenge | crisis management | Scoop.it
In Can China Lead? a trio of business school professors argue that unless the Chinese Communist Party loosens its grip, the China "miracle" cannot be sustained.
Floriane Galeazzi's insight:

interesting analysis of china international position

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Twitter opens its data to researchers and academics with new Data Grants initiative

Twitter opens its data to researchers and academics with new Data Grants initiative | crisis management | Scoop.it

Twitter has been busy opening its data up to media — through a deal with CNN and Dataminr — and the music industry — via an agreement with 300 Entertainment — and now it is focusing on helping researchers and academics.

 

The company has announced the Twitter Data Grants initiative which it says will “give a handful of research institutions access to our public and historical data”. Users send over half a billion tweets per day, so there is all kinds of information that researchers may want to dig into, from health predictions and information, to global weather, seasonal culture (like Chinese New Year), public opinion on issues, etc.


Via Alex Butler
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How mobile and social have changed live events - iMedia Connection (blog)

How mobile and social have changed live events - iMedia Connection (blog) | crisis management | Scoop.it
How mobile and social have changed live events
iMedia Connection (blog)
From my place at the intersection of the music and communications industry, I've witnessed the many changes technology has brought to live events and music festivals.

Via Ron Baker
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Ron Baker's curator insight, April 17, 2014 9:03 AM

Savvy insights

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Avoiding the Damage of Product Recalls - INSEAD Knowledge

Avoiding the Damage of Product Recalls - INSEAD Knowledge | crisis management | Scoop.it
Avoiding the Damage of Product Recalls
INSEAD Knowledge
Recalls have increased significantly across all industries in recent years. And while their damaging repercussions are evident, the causes are often hotly contested.

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Steve Hather's curator insight, December 15, 2013 7:55 PM

Interesting study on the link between increased complexity in production and likelihood of product recalls. While this study is focused on the automotive industry, there are lessons for most manufacturing companies.

 

Essentially as complexity increases - particularly through the addition of variants and options, the likelihood of mistakes increase. Likewise as additional shifts are brought on or overtime to push out existing shifts, the likelihood of incidents increase. Seem self-evident when you think about it.

 

There will always be pressure to meet short term demands. We are seeing that right now - 'tis the season to be busy for many industries. The challenge for operational managers is to balance that increase with reducing the likelihood of incidents. Where might those mistakes be made when the system is under pressure? Is additional training, adjusting processes, increasing supervision needed to reduce the likelihood of an incident occurring?

 

Confident you have processes and people in place to manage an incident? Our simulation exercises are a good way to test it!

 

www.rqainstitute.com

 

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Child safety report: Recalls ineffective - CNBC.com

Child safety report: Recalls ineffective - CNBC.com | crisis management | Scoop.it
CNBC.com
Child safety report: Recalls ineffective
CNBC.com
Just 10 percent of children's products are returned or fixed during safety recalls, according to a first-of-its-kind report out Tuesday from a children's safety advocacy group.

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Steve Hather's curator insight, February 19, 2014 7:23 PM

As noted in this article, retrieval rates alone are a poor indicator of the effectiveness of a product recall. There are many factors that will determine how much product is returned.  For a fast moving, short shelf life product for example, very little will be returned. It may well be consumed before the recall is announced. Low value items may be thrown out and the company will never know. High value items on the other hand have higher return rates. It is more likely that the company will have records of sales and be able to contact the consumer directly. Consumers will tend to pay more attention to a recall of a BMW than an inexpensive food product. 

 

A study by the Australian Competition and Consumer Commission in 2010 indicated that retrievals rates ranged from 80% to 36% depending on the product. 

 

Many companies simply stick an ad in the paper thinking it will meet the regulators requirement. This is probably the least effective means of communicating a recall. They also tend to be the companies that wonder why the regulator asks them to re-advertise the recall some months later because of poor response or surveillance indicates product remains in the market. 


What it comes down to is effectively managing the risk associated with a product problem, developing a good recall strategy specific to the product and the target market and communicating that strategy effectively using appropriate methods.  A range of measures should be used to determine whether the recall has been effective including communication effectiveness, contact rates and consumer feedback, engagement over social media; in addition to retrieval rates.


Increasingly consumers are talking about products over social media sites but few companies choose to engage consumers directly through social media when they have a problem. Product recalls can be an opportunity for companies to enhance their reputation with consumers as a safe, responsible supplier. This is not going to happen if companies refuse to communicate.  


Steve Hather

www.rqainstitute.com

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The 8 Steps to Manage a Social Media Crisis

The 8 Steps to Manage a Social Media Crisis | crisis management | Scoop.it

Social Media Crisis Management isn't about winning, it's damage control. Use these 8 stpes to mitigate social media crises and find your footing amidst chaos.


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Steve Hather's curator insight, December 3, 2013 8:24 PM

Very good article on preventing and managing a social media crisis. This has some great insights to incorporate into your crisis management program. 

 

Another key point - practice your response via a simulation exercise before you need to do it for real!

 

Let me know if we can help with that - we run very realistic crisis simulation exercises as we base them on very real incidents that we had first hand experience with!

 

www.rqainstitute.com

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Facebook is 10 years old, but social media is just getting started on changing the world

Facebook is 10 years old, but social media is just getting started on changing the world | crisis management | Scoop.it
There is no greater force for democracy than social media, and it will empower the masses.

Via Alex Butler
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Sónia Araújo Pereira's curator insight, February 4, 2014 1:17 PM

10 years of Facebook

MadCityMedia's curator insight, March 7, 2014 3:12 PM

Can't wait to see what happens in the next 5 years.

Paige Mortleman's curator insight, May 13, 2014 6:01 AM

Reading this article really makes you think about how quickly Social Media has impacted our lives in the last decade and how popular it has become. A decade ago I didn't have a computer now I am constantly on the internet always checking forms of social media - Instagram, snapchat and of course Facebook.

 

As stated at the beginning of this article the purpose that Facebook was created for was to connect college students now, 10 years later it is a strong tool for marketers from all types of companies to use to reach out to consumers. Imagine what it will be used for in the next 10 years or whether there will be something completely different and new.

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The Subtle Art of Influence

The Subtle Art of Influence | crisis management | Scoop.it

Strategic influence is quickly becoming a critical skill because the nature of work is changing: success now depends on the ability to collaborate with all parts of the organization and to manage a web of connections that spans the broader business community. It begins with networking, progresses to relationship building, and culminates in a strong bond characterized by a high level of trust and respect, to the point where the person values your opinion over most others..

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Ukraine mobilizes troops amid crisis with Russia - CNN

Ukraine mobilizes troops amid crisis with Russia - CNN | crisis management | Scoop.it
CNN
Ukraine mobilizes troops amid crisis with Russia
CNN
Simferopol, Ukraine (CNN) -- Leaders of a shaky new government in Ukraine were mobilizing troops Sunday amid signs of Russian military intervention in Ukraine's Crimean peninsula.
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Think you're managing the crisis? Maybe not | Marketing

Think you're managing the crisis? Maybe not | Marketing | crisis management | Scoop.it

Crisis management has changed significantly. If you are a corporate leader of a multinational company today, and aim to protect your reputation for the long term, you need to ask yourself two questions: are we ready and are we nimble? Are we properly organized and can we respond in time when faced with a crisis? 

If you still rely on manuals that are more than six months old and do not have social media at its core, both questions are answered. 

Millions of citizen journalists roam society every day, with phone cameras and Internet access at the ready. They capture and instantly transmit around the world what they witness-or think they witness. They pass along unverified "news flashes" from acquaintances. Their tweets and posts become stories, alongside news from more established sources. These reports, unregulated and uncorroborated as they are, can create irreversible damage when inaccurate and left unaddressed....


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Jeff Domansky's curator insight, May 15, 2013 11:09 PM

All about the importance of preparation and social media in a crisis. Several excellent tips on managing a crisis too.

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Analytics: Needing to Know or Wanting to Know?

Analytics: Needing to Know or Wanting to Know? | crisis management | Scoop.it

 

There is a big difference between what someone needs to know and wants to know. For example, if you are going to walk to a destination and you see dark clouds, you need to know if it will rain so that you take an umbrella. However, what you want to know is when and where it will rain as well as how intensely and for how long. Let’s apply this “needs versus wants” discussion to the emerging analytics movement. Business intelligence can satisfy needs, but analytics can tell you what you want to know (Business Intelligence = The need to know. Analytics = The want to know.)

Floriane Galeazzi's insight:

needing or wanting ? competitive intelligence dilemma

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Le conseil et les médias

Le conseil et les médias | crisis management | Scoop.it
Les cabinets sont des usines à expertise pour la presse

Via Rémy Bitoun
Floriane Galeazzi's insight:

utilisation des médias et réutilisation des études un win-win entre les médias et les cabinets de conseil? 

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New Map of Twitterverse Finds 6 Types of Networks

New Map of Twitterverse Finds 6 Types of Networks | crisis management | Scoop.it
People tweet about anything and everything, but a new Twitter analysis by a UMD computer scientist shows much of this conversation falls into six distinct patterns or networks.

Via Alex Butler
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Richard Baxter's curator insight, March 4, 2014 6:26 AM

This is really interesting esp with the number 6 I thought it would have been higher

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10 Communication Secrets of Great Leaders

10 Communication Secrets of Great Leaders | crisis management | Scoop.it
It is simply impossible to become a great leader without being a great communicator. I hope you noticed the previous sentence didn't refer to being a great talker - big difference. The key to becoming a skillful communicator is rarely found in what has been taught in the world of [...]

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Ron Baker's curator insight, March 23, 2014 5:39 PM

I think the best secret is that great leaders LISTEN.

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Aston Martin recalls 17,000 cars

Aston Martin recalls 17,000 cars | crisis management | Scoop.it
Luxury car maker Aston Martin recalls more than 17,000 cars because of a counterfeit part.

Via Steve Hather
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Steve Hather's curator insight, February 11, 2014 7:09 PM

There are two interesting takeaways from this recall irrespective of what industry you operate within:

 

Aston Martin clearly learned some lessons from the Toyota and Volkwagen recalls. They took fast, decisive action without waiting for a barrage of complaints - or worse, to drive action. Most companies have an "avoid recall at all costs" mentality.  Aston Martin have a reputation for very high quality product and their swift action on learning that a counterfeit part had been used supports that reputation. While it will undoubtedly cost money, the long term protection of reputation is far more valuable than the short term financial hit -  that could be offset by recall insurance or redress to its supplier anyway. 

 

The second is the importance of managing your supply chain risk. As supply chains get more and more complex, companies get further away from smaller suppliers upstream. While China has taken a hammering and there are certainly problems, there are also some very good suppliers in China. Location doesn't remove the onus on companies to understand their supply chain and the risks associated with it and to be actively managing that risk through good contracts, evidence preferably first hand of quality systems and processes and systematic reviews and testing.  "It was supplier x's fault" is a cop out and one that will not enhance a company's reputation in the event of a recall. 

 

Unfortunately in the drive to reduce costs, purchasing often holds sway over the quality people in selecting suppliers. While cost is clearly critical, make sure you are managing the real cost of risk - the cheapest supplier is not always going to be the best value in the long term! An effective risk-based supplier management system is critical.

 

www.rqainstitute.com

 

 

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IBM reveals its top five innovation predictions for the next five years

IBM reveals its top five innovation predictions for the next five years | crisis management | Scoop.it
IBM's predictions all involve big data and using computing to glean intelligence from vast systems. We discuss them with IBM's research boss.

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Suzen Pettit's curator insight, December 17, 2013 9:31 AM

It is important for any business to know where innovation is taking their market. This article is a great source to prepare you for the business world ahead.

Bettina Ascaino's curator insight, January 13, 2014 4:21 AM

In a nutshell, IBM says:

The classroom will learn you.

Buying local will beat online.

Doctors will use your DNA to keep you well.

A digital guardian will protect you online.

The city will help you live in it.

John Royle's curator insight, March 26, 2015 12:20 PM

This is an interesting article about IBM's future over the next 5 years and explains the we learn will change in the future. It says teaching will become more customised based on compiled data about the student.

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DRIVEN

DRIVEN | crisis management | Scoop.it
DRIVEN is a marketing company providing expertise in event marketing, video & television production as well as digital media.

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Top Five Signs That You Need to Invest in Competitive Intelligence

Top Five Signs That You Need to Invest in Competitive Intelligence | crisis management | Scoop.it

Here at Rivalfox, we believe every company should invest in competitive intelligence. By that we don’t mean you should go out and hire a CI expert to join your team, but instead that everyone in your company should take an active part. More and more business developers, product managers, and growth hackers are integrating CI into their repertoire to win their markets. e.

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Mobile Usage to Explode the Coming Five Years: What Does it Mean for Your Business? | Data-Driven Marketing Network

Mobile Usage to Explode the Coming Five Years: What Does it Mean for Your Business? | Data-Driven Marketing Network | crisis management | Scoop.it
Cisco released its Visual Networking Index Global Mobile Data Traffic Forecast and shows some of the major global mobile data-traffic projections and growth trends.
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Gaining Competitive Intelligence from Product Development Job Ads

Gaining Competitive Intelligence from Product Development Job Ads | crisis management | Scoop.it
By Abby Lombardi on January 22, 2014 in Hiring Demand Indicators. You can gain a lot of competitive intelligence by looking at other companies' job ads. Not only can you see your industry-specific competition, but you can see all companies ...
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