Innovator Profiles
Id | Summary Bio | Answer 1 | Answer 2 | Answer 3 | Answer 4 | Answer 5 | Leader | Actions |
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51 | <p>Nancy Selph is the COO for Innovation and Data Governance at Deutsche Bank in New York. She manages the central team that supports the innovation function globally through labs in locations around the world. The labs collaborate with a global focus and share three principal goals: to help the bank evaluate and adopt emerging technologies, to develop a culture of innovation, and to contribute to the bank's digital strategy.</p> <p>The launch of the Deutsche Bank Innovation Lab New York in March marked the fourth lab in the iconic bank’s global initiative to create an ecosystem for Fintech innovation. Representing an integral component of the Frankfurt-based bank’s broader, growth-oriented digital strategy of enhancing products and service to clients, the labs explore and evaluate scores of start-ups and emerging technologies to unlock business benefits such as better risk management, tighter controls and enhanced client experience.</p> <p>The innovation labs were the brainchild of Kim Hammonds, Member of the Management Board and Group Chief Operating Officer, three years ago after she joined Deutsche Bank from Boeing. The labs are located near Deutsche Bank’s business and technology centers and embedded within top innovation ecosystems. The core function of labs teams are as innovation specialists representing the bank’s interests. They seek to understand the demand challenges of internal partners within the bank and then look to globally vet new and emerging technologies. They then explore if there is a match and conduct experimentation to see if the solution can work inside the bank.</p> <p>Among the technologies Deutsche Bank has adopted via the labs is a web-based financial risk analysis tool. The new service alerts credit risk officers so they can actively manage client ratings, thereby supporting better business decisions and liquidity for clients. Another tool helps analyze surveillance data harvested from multiple sources bank-wide.</p> <p>The labs help transform the bank through adopting emerging technologies and by working on the more complex process and technology themes the bank faces. Digital retail banking, Distributed Ledger and the future of international payments are some of the larger challenges they are exploring.</p> <p>“Some people believe innovation has to be instant and revolutionary. But all eureka moments come from years of hard work and evolutionary change. Global banks will evolve to where we want to be in this same way. We will utilize new technologies to solve challenges that will be rolled out incrementally across the bank.”</p> <p>Having worked for a Fintech pioneer in the early 1990s, Selph has the benefit of having both witnessed the impacts of several game-changing innovation generations in the finance sector, and of understanding changing expectations in an age of digitally empowered customers. In her career, she has held key operations and executive roles with five investment banks.</p> <p>“I joined a small company called Teknekron Software Systems in 1990, which revolutionized the way trading floors operated,” she recalls. “Teknekron developed the middleware which distributed digitized stock market data to trading floors. The company became TIBCO in 1994. That technology in the early ‘90s was game-changing. We knew more about technology than the people using the systems, which is typically not the case today. This is because most people working at Deutsche Bank, or any other enterprise, tend to have access to faster and cheaper consumer products than we can provide inside of the bank. Banks have merged and they have been acquired, and they have different systems for varied purposes. It is very challenging to fully integrate those systems. That is one of the challenges the bank has when adopting new technologies.”</p> | <p>The idea of the lab presence itself is about giving people a space to come and think differently and engage with us. We run demand sessions with our business teams to get to the root cause of their challenges and then find solutions to meet those needs. It is the applied adoption of new technologies with a return on investment by decreasing risk, simplifying the environment or increasing revenue. By the time we have introduced the technology into the bank, we are confident it will make a difference.</p> | <p>All large banks have challenges. The size, credentials and history of the bank reflects the complexity of the underlying systems and processes that need to be transformed. The labs have been created specifically to tackle these challenges on all fronts. Some are easier than others to solve, but the needs of our business and technology partners within the bank are always our focus. Something that helps overcome impediments is how well the labs have been embraced by the bank. There is huge support and engagement at the executive level to make Deutsche Bank great from a technology perspective. </p> | Innovation is one of the pillars of Deutsche Bank and at the cornerstone of everything the bank is doing. Our CEO, John Cryan, talks about the innovation labs often in his public speeches as a means to enable us to service our clients in a better fashion. It is a top-down imperative with a bottom-up implementation, making the lab accessible to everybody. The labs are for all Deutsche Bank employees. People come in and see the bank has invested in working differently. Everybody who has walked through our doors or spoken to one of us feels the excitement and takes it back to their desks. | <p>Over the next few years, technologies such as artificial intelligence, robotics, machine learning, and analytics will transform the banking industry. What these new technologies can do with analyzing and transforming vast amount of data is amazing.</p> | <p>I love how Panera Bread leveraged technology to change the ordering experience. The wait was long and the orders were not always right. They transformed their ordering process through in-store kiosks and a mobile app, so now it takes a minute instead of eight to order your food there. I’m always looking for ways to save time in my life, so this resonates with me.</p> | Nancy Selph | View Edit Delete |
53 | <p>Michael McCarthy is a serial entrepreneur, an executive coach at Harvard and MIT, and a strategy consultant to scores of start-ups around the world. Having founded six start-ups, McCarthy now guides some of the world’s most talented business minds at Harvard’s Advanced Leadership Initiative.</p> | <p>Just last week, I had a healthcare company from Tennessee wanting to know how to do intrapreneurship pitches in-house; how to pitch things like app ideas that might be approved by upper management.</p> <p>There are the important basics for the intrapreneur process, like knowing who you’re pitching to, and what their needs and criteria are; what <em>they </em>say – pre-pitch – would lead to their green lights and their red lights.</p> <p>But for the brainstorm phase, I coach a mastermind process designed to remove negativity.</p> <p>First, we gather five to six people from very different walks of life – different genders and ages and backgrounds and business units.</p> <p>The (originator) is asked to take three minutes to describe the idea or the dilemma or the challenge, and they have to describe the kind of solution they’re looking for – like “I am looking for a solution in the form of an app, not a new business division.” You have to be clear on the kind of solution you want. Then there is three minutes of Q&A, just to clarify the challenge or the problem. Then, the person with the challenge or dilemma has to physically leave the room and they take their self-limiting beliefs with them.</p> <p>It’s important they leave because what they tend to do is interrupt too much – and say “oh, I tried that; that won’t work.” When they’re not there, people will be free to say the bad idea, and then leapfrog to a better idea.</p> <p>The format we use in the brainstorming session is “yes, and,” where the response must literally begin with “yes, and,” which makes the shy people and the introverts feel safe. You can still disagree, but it needs to be in a positive way – one person can say “I think it should be purple,” and another can say “yes, and I think it should be any color but purple; but I might agree to maybe a shade of purple, like lavender.”</p> <p>The person with the dilemma then returns to the room and just listens.</p> <p>Recently, in Boston, for instance, this method led to a challenge for finding sufficient recharging stations for shared electric scooters being entirely reframed with this total solution: that pre-charged scooter batteries simply be swapped out by users at the scooter racks, and forget about recharging altogether.</p> <p>And in Armenia – one of several developing countries where I have coached – the mastermind method provided an employment solution for returning refugees on either side of traditional working age, in an interesting social entrepreneurship challenge. The young refugees had few skills; and the seniors had skills but not the vigor to use them directly. So the group came up with the Armenian Shopping Network – based on the Home Shopping Network concept in the U.S. – with the returning Millennial refugees doing YouTube videos of the seniors teaching traditional Armenian cooking classes, and selling the products by mail. It turns out from the discussion that keeping the culture, the food and the language alive was particularly important in the diaspora. The young people do the social media, the baking and the shipping; the older people set up the recipes and the use cases.</p> <p>When I coach start-ups, the first thing I do is to encourage them to consider doing a service business rather than using a manufacturing model. If there is a way to offer a product as a service, it eliminates so many problems, and you don’t have to worry that much about attracting venture capital and angel investment. Simply framing a business model around service stimulates innovation.</p> <p>My second fundamental piece of advice is to make it a need, not a want.</p> <p>The base challenges for startups in developing countries are quite different from those in the U.S. In Armenia, I observed that founders had a huge challenge with trust and personal cynicism.</p> <p>People told me there’s no point in trying to start a successful business because the government is corrupt and they’ll just steal your business, so why bother. So, I had to overcome this very negative attitude that everyone is a crook. In an auditorium of 200 people, about half were incredibly cynical – that negative iron curtain mindset is a killer for start-up development. A lot of developing world entrepreneurs have a challenge around shyness, and the need to learn American style pitching – right down to the humor, and dealing with the apparent meanness of venture capitalists. They need to learn how to keep their self-esteem intact after rejection.</p> <p>I must have talked to 1,000 would-be start-up founders, through my Harvard course on entrepreneurship, MIT Launch, Babson College and the $1 million Hult Prize.</p> <p>In the start-up world, I think there is way too much focus on making a ton of money as a motivation to start a business. Just paying your own bills through your idea, not having a boss and doing what you want, when you want – could be immensely rewarding. Most start-ups don’t need to be focused on whether they’ll become a unicorn for the idea to be viable. Starting the Budi Foods business made me happy to be alive.</p> Just focus on the life that you want. | <p>Self-limiting beliefs and negative thinking are the biggest inhibitors to innovation. If I have a brainstorming session and someone says, “that won’t work,” I kick them out…literally. I’d rather have someone with limited intelligence in a good mood than a brilliant person in a bad mood. They take all the shy people off the ideas board.</p> Also, being in your silo, or putting a ceiling on your business model, inhibits innovation. Saying, “Oh, we only do apps; we only do things in the U.S.; or we’re only in the food business” will prevent innovation. | <p>One key element is that the CEO must believe in innovation, and that belief needs to trickle down. It needs to be embraced, not just tolerated – it can’t be just “Innovation Day” for one day a year.</p> <p>Also, they need to set aside dedicated, respected time for innovation. Companies should not cancel out innovation time; that innovation time needs to be ring-fenced, irrespective of other events, like end-of-quarter. The clear sense must be: innovation is how we stay alive and relevant 100 years from now.</p> <p>When I had a chocolate company a few years ago, and we had our first commercial run at a new location in Ohio, I was on the production line on the first day. And I ended up involved with making a part for the chocolate machine, because they weren’t coming out right. I absolutely recommend that C-suite executives spend time on the production floor. If I was the CEO of FedEx, I’d go undercover as a FedEx driver for a day each month, and experience what it’s like, and learn from customers. You will discover so much as a lower-end employee, or if you drop into different departments, especially if something is not working in that department.</p> | <p>The clear answer there is Blockchain – primarily because it benefits the consumer massively. Soon, consumers are going to see that certain services are much cheaper and faster. For example, when you want to buy an apartment, the commission will be cheaper because there are fewer middlemen, and it will be a much faster experience. Your references will be up in the Blockchain, instead of having humans reverify what was verified ten times before. It brings a lot of efficiency that trickles down directly to the consumer. Yes, Blockchain is in its early days, and I have yet to speak to someone who says they’re making money directly from the technology. But they are starting to use it. You’ll first see the benefits in financial services, like when you buy stocks or mutual funds – it will settle in minutes; you’ll see funds and checks clearing immediately into your account; you’ll be able to wire funds without a bank in the middle.</p> <p>You’ll also see Blockchain efficiencies in supply chains, with shipping and tracking.</p> | <p>What I love is fractional real estate ownership, where you can buy a fraction of someone’s house in another city; you can buy $1000 of someone’s mortgage. You become a mini bank because you want the upside of the market exploding. You can resell that portion to someone else. Its already started in Australia with a company called Brickx.com. I love that it gets rid of the banks. </p> <p>And I’ll tell you something that someone should be doing, but that doesn’t exist yet to my knowledge. I think people’s identity and records that prove what they’ve done can be put on the Blockchain. So, for instance, if you become a refugee – something people don’t plan for – you’ll be able to get out of that refugee camp faster by proving that, yes you do have a PhD or engineering degree; yes you do have funds sitting in Vanguard to pay for a flight out. A lot of experienced teachers from Puerto Rico are now having to work as teaching assistants in Florida because the records showing their teaching certificates have been destroyed in the hurricane.</p> | Michael McCarthy | View Edit Delete |
60 | <p>Mehdi Tabrizi is the CMO and General Manager of Innovation and Customer Experience for Moda Health. He says his role is about creating authentic connections, the best possible customer experience, and meaningful innovation. Above all, it is about making a positive impact in people’s lives and the communities Moda serves.</p> | <p>Prior to coming to Moda Health, I worked for one of the world’s most renowned customer experience, innovation and brand consulting agencies for over a decade. I was fortunate to partner with a lot of different companies around the world, from global Fortune 500 businesses to startups and across a very broad range of industries. My observation in working with those companies is that a culture of innovation requires a commitment at the highest level. That commitment has to include the right structure, resources and investments. Without that you’re not going to succeed in creating a culture of innovation. You might have an innovation project, but then it goes away. Once you have a strong commitment, you must have a strategy that is closely aligned with the company’s DNA and vision. If you’re a technology laggard, you cannot suddenly become a technology disruptor. However, you might decide to become a fast follower. You really need to have a strategy that fits within the context of your business. You also need to understand where your innovation focus should be, which domain you’ll concentrate on. Is it on the operations side, the product side, or the customer experience side? You also need to have the right structure and leadership that can build the necessary competencies in the organization and bring in the right staff and skill sets. Creativity is key to innovation, and therefore you need to have people with a creative background. Your innovation leaders need to have a rich understanding of what innovation is, how you build a strategy and how you put in place the processes to get there. It’s important to find people who are both passionate and can drive the innovation process. Finally, you must have the appropriate systems in place to support them.</p> | <p>In the health care industry, governmental policies and regulations can be a real impediment. Innovation often requires a long-term view of the market. But if every four years or so there’s a change in regulatory policy, it makes it very difficult to think long term. Also, I think there is often a lack of true innovation culture in health care organizations. Many of the people in health care have only worked in the healthcare industry and therefore they don’t have experience in other industries where innovation is better practiced. So, in health care, some of the impediments have to do skills, culture, policy and, in some cases, a lack of true competition, which can spur innovation. The industry is also very fragmented. We have a lot of small operators who don’t have the resources to both drive and scale innovation. However, I do think things are going to change. We’ll see the larger players push significant innovations, and the smaller players will either have to innovate or partner with organizations that have developed new technologies and platforms. More generally, I believe there is also a lack of expertise about the practice of innovation. For example, organizations need to understand and appreciate that not every innovation is going to succeed. Failure is an important part of the innovation process. To be successful, companies need to have the right mindset.</p> | <p>Innovation needs to be inclusive. You have to empower people if you want to make innovation part of your culture. If companies want to make it part of their DNA, then everyone should take part. You need to celebrate your wins and understand that your failures are learning experiences that can also drive innovation forward. Another key factor is cognitive diversity. You need to celebrate diversity of people, backgrounds, thoughts and ideas. In organizations that are very hierarchical and top down, you often don’t have the flow of information and ideas. Innovation happens top to bottom, bottom to top and sideways.</p> | <p>Two of the big factors that are driving change in the health care industry are affordability and the consumer. The impact of Covid-19 has only increased the consumer dynamic. The virus has shown that it can affect any of us, no matter what our income, ethnicity or geographic location might be. And when it comes to safety and security, people want to be in control. To meet the needs of the consumer, health care needs digital transformation. Right now, it is behind most other industries. However, digital transformation is coming to health care and it will drive major changes at every level, whether its operations, experience, treatment, such as virtual care or remote care, or wellness, with things like wearables and remote devices. Another big trend is the shift to home care. Home and local care is going to become more prominent. The idea that every time you’re sick you go to a major hospital is changing. Something else we’ve seen coming for some time is the shift from fee-based to value-based reimbursement. That is an important trend that is changing our industry. Ultimately, in terms of technology, I think the confluence of data and digital will be a huge driver of change.</p> | There is a lot of innovation going on in health care. Innovation can be compelling at a lot of different levels. There’s the offering—the product and service side. There’s operational innovation in terms of the business model, the network, and the infrastructure. One area that a lot of companies are focused on is engagement, which is the service side, the channel and the overall experience. On the product offering and experience side, an example of an exciting innovation is ultrasound-to-go, in which a pregnant woman is given an ultrasound she can take home and hook it up to her phone, so the doctor can do an ultrasound without the woman having to leave her home. From an operations perspective we’re seeing diligent robotics that can take over many of the tasks now performed by nurses. There are new patient monitoring systems that take advantage of artificial intelligence and vision technology, so that patients can be effectively monitored without nurses having to enter the room. In terms of wellness, you’re seeing new solutions that help people with aerobic fitness and conditioning. There is increasing amount of innovation starting to take place in health care across the spectrum. It is a great time to be in healthcare. And the most rewarding part is that you have an opportunity to make a real difference. | Mehdi Tabrizi | View Edit Delete |
22 | <p>Mark Manney is the Founder and CEO of Infobeing.com - a website disrupting the forefront of human interaction and trade practices. Mark left his corporate life and Seattle roots to travel the world and study new ways of commerce. While practicing international customs and eCommerce abroad, Mark was able to identify a major issue in networking practices of the present. This led to his creation of an ideal People’s Economy via Infobeing. Mark believes that through innovative networking and modern trade, the People’s Economy will help lead the world to a more productive and healthier lifestyle.</p> | <p>It is tempting to say that there is no industry sector for what we’re doing, but in fairness we might compare Infobeing.com to social media like Facebook, Ello, Tumblr, and LinkedIn. These sites offer a Web 2.0 experience that is becoming obsolete for a few reasons.</p> <p>Social media contributes to information overload by providing a massive amount of irrelevant information. This makes us feel physically ill. Information overload is becoming a real problem. Infobeing.com is different because it is designed so that users spend minimum time on the site and maximum time living, doing, and becoming.</p> <p>Another problem with today’s social media is that there is no real mechanism to meet new people in order to easily form mutually-beneficial relationships. These sites are designed primarily for staying in touch with existing friends or, occasionally, meeting someone new in a random way. Infobeing is designed for the purpose of helping you meet the new people you need to know in order to move your life forward.</p> <p>Social media leads to stagnation and inaction. It is passive. Infobeing uses the potential of the network world to create a People economy where everyone is doing what they want, what they are good at, just as they live in freedom and maximize their earning potential. This isn’t happening on Facebook.</p> | <p>Today people remain stuck in a “corporate economy” paradigm. Our most important economic relationships are with brands, corporations, and companies. The vast majority of our purchase of goods and services are with organizations.</p> <p>My view is radically different. I’ve spent the past 10 years traveling the world and living mostly in Eastern Europe. Things are done a bit differently here. Relationships between people are valued most. If you need something fixed, need to hire someone for an odd job, or need some help…people look to other people. There is a massive person-to-person economy that is based on cash transactions or even “favors for favors”.</p> <p>The Infobeing People Economy replicates this in the online world. We provide a new option for people to form relationships and conduct transactions for goods and services with each other. This is a radically different paradigm where we begin to trust each other and work together based on mutual wants, needs, and skills.</p> | <p>As Founder and CEO of Infobeing, Innovation isn’t a conscious focus of mine. I don’t set out to innovate. I simply do what I think makes most sense, with essentially no regard for what anybody else is doing. This is one of the benefits of living abroad, away from conventional wisdom, for so many years.</p> <p>Beyond this, I think innovation is allowed to thrive, and will continue to thrive at Infobeing, because our goal is not only to maximize profit. We are founding Infobeing as Public Benefit Corporation. We will be auditing our performance against a charter that includes 5 requirements for serving the public good. We’ll remain completely ad-free, we will improve the overall happiness of our users, we will help our users achieve greater freedom, we will strengthen the local community through direct-democracy, and we will aim to do no harm to the planet.</p> | <p>I don’t care about changing an industry. I care about changing lives. People have access to amazing technology, but they don’t know how to use it to live in a better way. Infobeing is concerned with improving your quality of life in both the online and off-line world by making it easy for you to meet all of the people you need to know.</p> | <p>Follow your intuition. Meditate. Listen to your inner-voice first and let it drown-out any voices of conventional wisdom. The purpose of your life is to bring your unique perspective to the world. Failure to innovate is failure to believe in yourself and act on those beliefs.</p> | Mark Manney | View Edit Delete |
24 | <p>Mark is the Head of Innovation at News Corp Australia and a former executive at AOL and Yahoo. Drasutis is an established business leader and digital expert with 20 years of media and digital product experience. He is focused on defining and delivering digital leadership and innovative and creative user-centric solutions within market leading, global digital businesses. Delighting all customers of digital products is a passion Drasutis brings to his teams and organizations. He has continually driven the creative vision and customer focus of his teams. He has implemented innovative and strategic thinking, as well as thought leadership, internally and externally, within all his roles and evolved customer perceptions of the businesses. <br /><br /><br /></p> | <p>News Corp is actually where the customers are, and that’s the change. Its about innovating around the proposition that content is about “and,” not “or.” In the past, customers either bought a newspaper or consumed content on mobile, or on PC, or Tele, or listened to it on the radio. Now, they are consuming content in newspapers and on Twitter, YouTube, in their cars, and on Spotify, so if you take the “and” model, it becomes about curating great, relevant content and delivering it where and how the customer needs it.</p> <p>With declines of 15% circulation in Australia and 20% revenues on the newspaper side – you need to innovate yourself out of that bottle, but you need to innovate in the right way. We’ve embraced the reality that newspaper companies are never again going to own content and distribution and packaging. In fact, we don't see ourselves as a newspaper company; we are a content company.</p> <p>Habits for consuming content have changed, and we can shape those habits. Do people buy newspapers for breaking news? No they don’t: because news is broken on Twitter and Facebook and then on other platforms. Content habits have changed. But job of producing great content hasn’t changed. We are recombining content in new ways for customers. We are now producing multi-dimensional long-form story telling in digital; creating a rich immersive experience in video, audio, graphics, everything. The Captivate platform in Australia allows us to build those.</p> <p>For example, we produced a story around Cinderella Man: the amazing journey of an Australian man to becoming the country’s first heavyweight boxing champion. We’ve just done a great piece of footage for surfers for an angle of a surf break which you would never have seen before, using drone footage, and two surfers: one a leftie, one a rightie. So how do we get to surfers? We promote it on Facebook, we promote it on Twitter, we made a 15 second video for Instagram, and then we moved it to content for tablet.</p> <p>The Wall Street Journal is doing the same thing, with amazing footage from the Oracle boat for the America’s Cup. When we have these great stories involving multiple assets, we ‘re able to quickly build rich story telling elements now that we didn’t think we could do three years ago. So it’s a case of: We’re capable - lets do more of that.</p> <p>The reporters who do these pieces, like Trent Dalton, now know when they start looking at the yarn, they need a videographer, a photographer; he needs to understand how to work with a developer and designer to tell the story best via the digital channel. And that’s just one space.</p> <p>On the other extreme, we just launched in Australia – news.com.au and Foxsports - on Snapchat’s new Discover platform. Once again, here’s another area where we’re atomizing our content and saying we’re going to create an edition every day which is relevant to a Snapchat customer, which is more a teen, kind of funny, laugh-out-loud type of experience.</p> | <p>FEAR of not knowing. If I don’t know about it as a senior executive, I’m not sure I want to unleash my team on something I don’t understand. So, for instance, we built a digest App for <em>The Australian</em> and gave it to one of the lead editors to play with over Christmas. All it involved was his content recombined into an App, but now he understands what the power of that can be.</p> <p>Another challenge for innovation is fear of quarterly targets. The trick is to make innovation real in people’s minds. Without that, people think that they wouldn’t know how to execute the ideas they had; they don't have the confidence to ask for forgiveness, rather than permission. The key is to allow people to fail safe, and to lead with an approach where you show, not tell. Stop having meetings about meetings and show it to someone. They rightly say that a picture is worth a thousand words, and that a prototype is worth a hundred meetings.</p> <p>Its not technology that’s the disruptor, it’s talented employees thinking like entrepreneurs that is. This business had forgotten a little bit that it had an entrepreneurial spirit at his heart. Rupert Murdoch is one of the best entrepreneurs in the world: his three drivers are opportunism, innovation and intuition. As a staff member, you should be working on those three things. Go and do it. You still have to do the business casing – you can’t work outside those processes. You still have to get new projects singed off by the finance departments and agreed by the board. So in essence, ideas are not a problem; timing and execution is the problem.</p> | <p>News Corp has had a couple of innovation efforts previously, but they were largely external, and my title didn’t exist two years ago, which says something in itself. Certainly, there was recognition that the most expensive seven words in our business were “But that’s how we’ve always done it.” Though I wasn’t here at the time, I’d guess I might rate our innovation culture in 2005 at about 3 out of 10; now its perhaps around 6 out of 10, with our digital offerings, and now that people know they can do these things, and are less afraid of things not looking the same.</p> <p>When I joined, I remember someone commenting: “Great – someone with all the answers.” I countered with: “You’re already got the answers, and you’ve got the employees – we just need to create innovation as part of their job and something they’re not scared of.” The words disruption and innovation kind of counter each other. I realized that news didn’t have a clear definition of what innovation meant, and that’s really key. For us, that definition is: ‘Recombining content, people and processes in new ways for growth.’</p> <p>That idea then resonated across the business – that it’s not about drones or virtual reality or futuristic hardware. And changing the perception of News Corp in Australia was one of the key pieces – as a content company, not a newspaper company. We’ve got an ideation platform we put in, which allows you to pop in and say “that’s a good idea” or “that’s been done’’ or “actually that’s something I’m working on; lets work together.” I’m all for open innovation, most of our ideas we’ve gotten are from outside the office. We sponsor a co-creation space for startups, called Fishburners – that’s important; it opens peoples’ eyes to what entrepreneurs are doing.</p> <p>We are not afraid to experiment with different models – and we have a system where you can fail safe with experiments. We have an internal system called News Foundry – an internal fail-safe environment that allows people to come up with new ways of doing things. They come out with loads of ideas; one of them drives the kind of content on our Snapchat channel, for example. I’m a big advocate for quiet change, which is that you show, don't tell; you take people on a journey; you plant seeds within the business.</p> | <p>Anticipation of content is something I think will become important – data signals will be there to anticipate a certain time of day you want a certain type of content – based on your location; based on your behavior; everything. Content about things you care about should come to you like a tap on the shoulder.</p> <p>I think there is an interesting move back to truth in the content space - where many customers don’t want an oversimplification of news. People have a thirst for more knowledge than the snack they can see. Snacking news is relevant; as Twitter’s 140 characters show, but consumers are already responding to the in depth background content we are providing, with lots of links.</p> <p>The disruption will be that people will be able to access as much content as they want quickly, but that they probably want a little more detail around the five areas they care about the most, and that’s where media companies come into play. I never try to predict technology trends, but I look at connected cars, and I think there is something there for media; a space where we can play. </p> | <p>Paul Whittaker, editor of the Daily Telegraph in Australia, and his team are supportive of an app that gameifies news for commuters on buses here in Sydney. It allows you to play a game against others around beacon technology: it matches headlines to the pictures, which means you have to read the headlines – so you consume the news via a game. That’s quite interesting as a model. I’m not saying that’s the future of news, but its interesting. I feel the same with Snapchat. They are both great ways of providing content to the consumer.</p> | Mark Drasutis | View Edit Delete |
41 | <p>Look at almost any plastic soda bottle, and you will find that it stands on five ribs that are integral to the walls. The invention of the “petaloid base” in the 1970s offers crucial insight into an innovation process that is highly relevant to business today, and to the growing movement away from functional roles and toward value creation. Because pressurized plastic expands like a balloon under pressure, bottles at the time were two-piece products that stood on a rigid cup – and efforts to create a one-piece bottle had cost tens of millions, without success.</p> <p>Gautam Mahajan—the co-inventor of the petaloid base, then head of research and engineering at Continental Can— told BPI that his team solved the problem by reframing it in this way: where does the bottle <em>want</em> to go when under pressure, and using the concept of entropy, where everyone including the bottle resists being forced into an ordered state? It had been assumed in the industry that the bottle would need an incremental innovation, and that the machines that make them would require an expensive disruptive innovation—since they would have to create far more pressure to force out those five bulges. Mahajan proved the opposite: the disruptive petaloid solution changed the entire industry, while the machines needed only affordable shock-absorbing improvements, and timing changes.</p> <p>Now a leading author and thought leader, Mahajan moves executives and academics globally to his belief that the purpose of companies is not to generate profit, but to create value—where profit and competitiveness are by-products. “We all know the purpose of attending college is education, not grades. Grades are a measure of how well you have studied,” he says. “Why then do business leaders still insist that the purpose of a business is profits? Indeed, why do we study for a Masters of Business Administration when it should be a Masters in Value Creation? Everything is process-driven at present, but we want the mind-set to be changed.”</p> <p>Mahajan’s new book, “Value Creation: The Definitive Guide for Business Leaders”, was introduced this month by the Director of the Indian Institute of Management in Bangalore, and received high praise at a recent business literary festival. Gautam is setting up Value Creation Forums around the world and catalyzing colleges to conduct research on Value Creation. He believes values create value, and that efforts beyond formal job descriptions—efforts as small as a smile— generate brand equity for both the employee and the company.</p> <p>Mahajan is now the Founding Editor of the Journal of Creating Value, which enables academic research become more responsive and relevant to business practitioners, while promoting value creation as the new “true north” compass heading for executives. This approach echoes recent findings at Harvard Business School, in which Michael W. Toffel noted that, “The lack of practical relevance of much of our research might suggest that few of us also have the ambition to improve the decisions of the managers and policymakers whose actions we study.” The business leader who Harvard quoted on the issue—Donovan Neale-May, executive director of the Chief Marketing Officer (CMO) Council—also noted that, “There is often a disconnect between practitioners and academics, who tend to be far removed from operational complexities and market dynamics”.</p> <p>“I see myself as a generalist, as someone who has created and who thinks differently, who doesn’t get stuck with the run of the mill thinking,” says Mahajan. Previously, he was President of the Indo-American Chamber of Commerce, which is the only bilateral chamber between the US and India, and includes 14 offices between the two countries. He is also President of Inter-Link India and Customer Value Foundation and went on to become a leading consultant to top Indian companies, as well as the author of three seminal books on value. Mahajan told BPI that his consistent advice to innovators is to ban any concerns about cost when at the early, explorative end of the innovation process. Conversely, he also advises executives to free themselves from the fear of making incremental increases on the prices of their products, since customers will pay for value.</p> <p>Mahajan poses a fundamental thought challenge to companies innovating in areas like customer experience and “customer journey”—where customers are provided ever-better experiences when returning defecting products. “They forget that customers do not want that journey in the first place,” he says. “Why not rather innovate toward zero complaints, and zero product returns?”</p> | <p>Value Creation is a distinctive mind-set. It is a mentality driven by enhanced self-esteem, awareness, and pro-activeness. It goes beyond just doing your job, it is doing something extra. Value Creation is executing proactive, imaginative, or inspired actions that increase the net worth of products, services, or an entire business. This creates better gains or value for customers, stakeholders, and shareholders. Value Creation stimulates executives and business leaders to generate improved value for customers, driving success for the organization; it creates customer-conscious companies.</p> <p>Value Creation Forums have been started in the US, Europe and Asia, along with Value Creation research. Programs are underway to modify MBA teaching to become less functional and more value creation oriented. The role of an executive is not just to be a good manager, administrator, or a good efficiency expert; his or her role is to create value. Ahead of my most recent book, I realized that value is completely misunderstood. Everyone has a meaning for it—some think value means price, benefits, or importance— you can think of it in any way. In business jargon, value is creating financial benefits, and for people around you, which will eventually create greater financial benefit for you. You cannot set out and say you’re going to create value for yourself; you have to create value for others, such that they recognize you are a person of greater value.</p> <p>You hear words like CRM, customer satisfaction, customer experience, customer journey, customer this and that, yet all are only one part of what the customer is looking for. When you start investing heavily in things like customer experience and customer journey, you are essentially saying that they are very important—and they are—but you forget the context of their importance.</p> <p>Once I have bought a cellphone, what is the experience I really want? I want it to work; I don’t want to waste a lot of time on maintenance. The moment I have to go back to the company—and that’s the experience companies are investing on improving but not the experience I as a customer want in the first place—I am making an extra journey. I just want to be left alone. Companies tend to glorify a journey that customers don’t want in the first place instead of making sure I do not have a problem. The real thing they should be working on is how to prevent that journey. Companies should be innovating toward zero complaints, toward zero defects.</p> <p>It is easier to give examples of value destruction because they are so obvious. Value creation in a very simplistic sense is everything that goes beyond your job. You could be an accountant who does efficient work, you can’t fault his numbers, but the guy comes up to you and says, you know the tax laws are going to change and maybe we should do something with our investments and our accounting practice so we get an advantage. He’s done something extra. Everyone whose career progresses is creating value, but often he does not know that because he is doing it unconsciously. If you were conscious about it, you might create a little more value, and might destroy a little less.</p> <p>Stephen Vargo is on the board of our journal, and he coined the phrase, ‘service-dominant logic’. Before that, there were other concepts, but he said no, it is not about products. Everyone is serving everyone and the product is just part of the service. This year, there might be thousands of papers written on service dominant logic, talking about value co-creation, but few people seem to know what value co-creation is. Many see it as some kind of a vague thing that is nice to think about.</p> <p>We first started a journal that addresses both academics and practitioners: that’s a difficult mix because academics like to write in journals, and practitioners generally don’t like to write. They like to read. What we want is for academics to write in the way that business people can really understand, that is relevant. Then we encourage the practitioners to use this. On the other hand, we want practitioners to write about things that make academics pay notice. So if I write about zero complaints, they may wish to do research and find the best way to get to zero complaints. The second thing we have done is start Value Creation Forums around the world, and we have leaders in their fields come together and discuss value creation.</p> <p>We set up one in the Benelux with academics and practitioners, and many universities in the Netherlands came together and discussed three things: one, how can you create value for the student in the present courses. The second was to look at courses like HR and IT and see if you can just add one lecture on value creation for those courses. The third was to have a general management elective which is based on value creation. If you look at HR, it is probably one of the most important functions in the company since people--employees, partners and customers— are really important. The question I always ask is, ‘Why don’t HR guys become CEOs? Why are they called a staff function?’ That is because they do their functional work; they really do not do their value creation work. Once they start to do it, they begin to create immense value for the company.</p> <p>We have asked a college in India to look at values and value—what you stand for, such as ethics, morals, and integrity). The idea is that if you are a college that talks about values, do your students who become teachers do better than teachers for whom values were never inculcated? There is a professor at Wharton that does customer lifetime value; we want to work together so that he can correlate customer value-added with customer lifetime value. </p> | <p>Let’s look at small things that prevent people from being innovators. One is self-esteem. If you do not believe in yourself, you cannot create value. Two, you really have to become aware; if you don’t notice things around you, it becomes difficult to innovate. Most people who truly create value do not need a financial incentive to innovate; they are natural innovators because they have awareness and believe in themselves. Fear of failure comes in when you are concerned only about keeping your job.</p> <p>Another thing I find really slows down innovation is bringing the financial thought process onto the innovation table. You sit at the table, and someone comes up with an idea, and the guy next to him says, ‘That can never work because it is going to be too expensive.’ You then discard it because you have forgotten that things become cheaper and cheaper. So, my advice to innovators is to forget the cost part of it and say, ‘What is the best way of doing this?’ Then ask how to make it practical from a cost point of view. Too many good ideas just go away because some joker says it will hurt cash flow or will be too expensive.</p> <p>I am not sure that disruptive innovation is the only way to go. A few years ago, I went with students in an innovation course and suggested they work with the long distance taxi service to prevent one way hiring, and ensure the taxi guy got a return ride. It would save costs for the passenger and increase profits for the taxi person. This was like a pre-Uber move, but no one looked at it. Would this be called disruptive or an add on? Today, Uber would call it disruptive.</p> <p>With the development of the petaloid bottle base, we had machines that were taking a pounding, because the pressures required to blow the petaloid bottle were much higher than the simpler bottle. The design group came up with a way that would cost $75,000 per machine—in the late 70’s—and we had about 45 machines. They were redoing the machine. That’s disruptive. I said that is the wrong approach. We ended up doing everything at a cost of only about $8,000. We studied the machine and asked, ‘What is the machine actually doing?’ Why not just reduce the shock impact on the machines with cheap shock absorbers, and proper timing and then they will stop braking?</p> | <p>I suppose we could have called value creation, value innovation. To me, creation is a little more basic, more intrinsic. Innovation is something that takes something and goes to the next step. The goal is to take something that exists and try modify it a little. If the core of an MBA course should completely change, from one of teaching people to be good managers or efficient administrators, to becoming value creators that could be disruptive.</p> <p>Because many of the functional courses would start to disappear, and people would really start to learn how to create real value in HRD—instead of measuring whether the guy comes to work on time, or try to measure his performance— you are really doing something that increases the value to customers and society. Many functions could get outsourced into administration departments, and true HR Value Creation would remain in HR. If your brand equity increases, the brand equity of the company increases. People notice when value is created. In the Netherlands, we are currently doing a program with Microsoft with finance managers. Oracle is going to do something in this area on the West coast in the US.</p> | <p>I think it is about mind-set. One is business schools moving toward value creation, and away from doing functional teaching. Instead of a masters of business administration, you have a masters of value creation, or value management. A second thing is that companies start to drive their businesses from the point of view of long term value creation. One example was the CEO of Unilever, Paul Polman, who was able to convince his board that they should look at long term results—one to five years—rather than quarterly. What they got was a higher rate of growth overall, and fewer perturbations in share prices.</p> <p>One of the things I fear is the impact of automation. Too many of the younger generation are so smart at using tools that they forget the fundamentals. Data analytics is a great tool as long as you understand what lies behind. It is great if you analyze and measure the customer journey to a fine science, except you might miss the fact that customers might not want that journey, and you are actually making the journey more important. The focus goes away from zero complaints. Everything is process driven; we want the mind-set to be changed. We emphasize the better mind-set through our value creation councils.</p> <p>In India, the Tata companies are moving from business excellence to value creation thought processes. Unilever is doing good thinking. When they decided not to buy palm oil from a group of growers in Malaysia and Thailand because of the ecological impact, the fear was that prices would go up and customers would not buy. However, customers continued to buy because they favored sustainability. We found at Tata Power that values create value. </p> | <p>This morning, I got a call from a wrong number, and I then received six calls from the same number. I thought: how do I block this guy? I would pay for an app that allowed me to do that! All jokes aside, the real disruptive thing will be when we start to build things the way the human body is built. Today, the structures we build are external, and our body is internal.</p> <p>There is complex innovation and complicated innovation. With complex, we are talking about moving targets. In a complicated one, we know it is only a matter of putting all the known pieces together, like a jigsaw puzzle. A complicated problem might be building a big building, but all the steps are known. On the other hand, if you are trying to make a building that is a living building—perhaps a self-healing building—that is complex. Again, if you look at great innovations, you’ll tend to find a value creation mindset behind them.</p> | Gautam Mahajan | View Edit Delete |
16 | <p>Lilach Felner is a marketing consultant and lecturer specializing in building customer trust. She helps companies and brands become trustworthy by injecting trust into their businesses. As a marketer of multinational consumer brands for over 15 years, Lilach has experienced first-hand the tsunami of consumer militancy towards companies and brands, social media escalation and the dramatic transition of power to consumers. Her Trustworthy Marketing Approach helps organizations and brands become more worthy of their customers’ trust in the age of open social communication. </p> | <p>First, the organization must be managed by strong leaders that know where the organization is heading, and have a clear purpose and clear goals. Second, in order to make the changes happen, the organization needs a management that "walks the walk", adheres to its values and lives by them. Essentially, an organization needs management that believes in the necessity of change, and is willing to be committed to the change and its implications. Third, rolling out the change depends on management's ability to lead and inspire its employees, to empower those who come up with ideas, nurture them and activate them as advocates. In order to execute change, the employees must be involved. This is why the management should have an "open door policy," encouraging an open flow of communication and demonstrating high levels of accessibility. Fourth, another critical parameter for rolling out innovation and change is trust. In an atmosphere of trust, innovation and speed reach their full potential. </p> | <p>Based on my experience, the biggest obstacles to change and innovation are as follows:</p> <p>Short term-ism: A short-term managerial attitude includes management that is focused on short-term gain rather than long-term growth, management that finds it difficult to balance the need for long-term strategy with short-term results demanded by the market, and management that doesn't communicate a long-term vision for the business.</p> <p>A continuously decreasing Chief Executive Officer tenure: CEOs and senior executives with short tenure seem to have few incentives to embrace long-term oriented behavior. They find themselves facing an intriguing ethical dilemma between optimizing their financial pay-off within their own tenure and securing the longer-term well-being of the organization. According to a 2014 report released by The Conference Board, the average tenure of a departing S&P 500 company CEO has decreased in recent years, from roughly 10 years in 2000 to 8.1 years in 2012.</p> | <p>The innovation process should start from the CEO and the management team in order to give it the focus and the priority it deserves. A special committee for innovative change should be appointed with representatives from all relevant departments. Employees should feel they are involved as well. In order to examine the effectiveness and the results of the process, a 'before and after' survey should be conducted. It is recommended to plan a kick-off session with all relevant employees in order to create involvement and engagement and build their commitment. </p> | <p>Given the erosion in customer trust towards organizations and brands due to a history of over-promising and under-delivering, not only do we find more and more customers who arm themselves with as much unbiased information as possible but also more and more consumers who trust what their peers say. In this reality, I believe new technologies should focus on the 'social customers', those customers that are constantly engaging with one another in order to seek out advice and opinions from their peers. Engaging these powerful, trusted voices has become even more important considering that 92 percent of consumers around the world say they trust earned media, such as recommendations from friends and family (Nielsen’s Global Trust in Advertising Report). Another area that challenges new technologies lies in the proliferation of communications channels. The challenge is to create a seamless, omni-channel solution that will provide a single, <em>seamless experience </em>for the customer across all channels. The customer views the company as being one company no matter how many channels it has. Each platform needs to have awareness of the other. This means a lot of coordination between IT and marketing. </p> | <p>I have two examples of trustworthy leaders who embody the innovation mindset in the way they lead.</p> <p>Tony Hsieh, the inspiring widely-admired founder and CEO of Zappos.How often do we see a company where most of its efforts towards customers happen after they’ve made the sale? How often do we see a company that has reps who are trained so that when a customer is looking for a specific pair of shoes, if they’re out of stock (for example, they don’t have their size), they will look on at least three competitor web sites and refer the customer to that competitor if they find the shoe the customer is looking for? Hsieh has innovated the way Zappos treats its employees, its customers, and its suppliers. Hsieh is an inspiring example of a leader who believes that being true to your own values is fundamental to how others will perceive you.</p> <p>Peter Aceto, the President and CEO of Tangerine—formerly ING Direct Canada. How often do we see a CEO who measures his employees’ views about his leadership after his first year as CEO? After his first year as CEO, Peter Aceto decided to send a company-wide email, inviting everyone to vote on whether they wanted him to remain in charge. He was prepared to leave the position if the employees weren’t inspired by his leadership. The response rate was 95% and of those who responded 97% said he should stay. </p> | Lilach Felner | View Edit Delete |
23 | <p>Les C. Meyer is a results-driven serial entrepreneur, global executive leader and MBA with extensive experience in mindful innovation and self-actualization. He has demonstrated creativity in transforming health and performance improvement through innovation leadership. He has worked with many organizations to help them achieve an optimal healthy workplace and workforce and achieve functional wellbeing outcomes via science-based mindfulness, resilience, vitality and sustainability next practices. He has also implemented game changer approaches to the creation of health care delivery, innovative health policies, advanced primary care systems, planned care coordination and proactive community health assurance initiatives. He has integrated meaningful enabling technologies and consumer-centric, integrative health services for a wide variety of worldwide stakeholders.</p> | <p>We guide clients toward viewing their organization, in all facets, with a mindful innovation (MI) approach. MI is a tuned in, creative-thinking leadership engagement process — coupled with a five-step systematic approach including assessment, culture, strategy, implementation and measurement — empowering CEOs to improve the health of the enterprise and its workforce, reduce costs, improve productivity and ultimately, profitability in a global economy.</p> <p>My idea of “hard-wired MI” emerged in mid-2009 as I watched CEOs working feverishly on getting their arms around their “Big Idea.” And then, watching them formulate strategic plans to transform their companies by advancing their breakthrough brainchild as a “constructive, disruptive innovation.” Over and over these leaders were relying on outdated “thriving on chaos” playbooks not recognizing the competitive imperfections in the marketplace. </p> <p>The MI approach prompts quick-response adaptation when CEOs drive the process top down and encourage their people to embrace “imagining” from the bottom up — with all stakeholders striving for the competitive advantage that lies in the health of their people. </p> <p>MI is moment-to-moment, surround-sound awareness of organization health achievement in action. It generates CEO imagination, ingenuity and creative execution in the boardroom. Most importantly, MI upholds the principles of disruptive innovation guru, Clayton Christensen, who introduced the criteria by which a product or service rooted in simple applications relentlessly moves up market, eventually displacing established competitors.</p> <p>MI is imagining what the future could look like, identifying mega-opportunities and building game-changing ways of delivering business value to all stakeholders. We do this by focusing our attention on next generation hard-wiring MI capabilities, technologies and learning system collective impact community collaboratives that provide MI solutions to the health industry in the short and long-term.</p> | <p>Health care costs are unsustainably high and health outcomes are suboptimal. To curb these trends, movement toward value-based care must be put into action.</p> <p>Colleagues at the Institute of Medicine (IOM) of the National Academies: Roundtable on Population Health Improvement, Health Enhancement Research Organization (HERO) Employer-Community Collaboration Committee recently noted two major impediments:</p> <p>1. Health care improvement underperformance, inefficiency and exorbitant costs continue in the U.S. health care system. Although biomedical knowledge, innovations in therapies and surgical procedures, and management of chronic conditions have substantially advanced, American health care has failed to significantly improve in many areas. They include modern medicine’s complexity, the high cost of care and limited investment value to achieve the best care at lower cost. <br /> <br /> 2. Despite spending almost one-fifth of the economy’s output on health care, the quality and safety of care remains uneven. Patient harm remains too common, care is frequently uncoordinated and fragmented, care quality varies significantly across the country and overall health outcomes are not commensurate with the extraordinary level of investment.<br /> <br /> Data is available to make the right decisions to transition into performance improvement incentives, patient-empowered self-care methods and consumer-centric optimal healing environments innovations.</p> | <p>Our focus is on game-changing ideas from independent leaders who create meaningful distinctions in the market and suggest an insightful exchange of information for sound decision making. Our cutting edge methods and innovations performance improvement process tackles the tough organization health challenges impacting enterprise-wide growth, profitability and customer experience optimization to help drive improving value on investment in health care through ground-breaking collective impact methods and sustainable MI leadership engagement innovations.</p> <p>Health innovation strategy is critical to an organization’s success. It trumps everything else. MI is not a genomic-DNA capability we’re born with per se but rather a hard-wiring self-actualization, performance improvement process, which helps CEOs reclaim their creative confidence. The innate ability for leaders to vision breakthrough ideas is strengthened through systems that encourage innovative prowess to move progressively from idea to collective-impact upsurge.</p> <p>MI has moved from a largely obscure practice to a mainstream organizational idea in some leading organizations around the world. Mindful innovators like Mark T. Bertolini, Chairman and CEO, Aetna are accelerating the awareness of “mindfulness use” in the board room and “self-actualization creative execution” in the C-Suite including workforce team member front line alignment to create an upsurge in economic development worldwide.</p> <p>Mindful “organization health” is defined as the ability of an organization to identify, engage, establish, elevate, achieve and renew itself faster than the competition to sustain stellar business performance. This <strong>MI </strong>strategy is among the most powerful an enterprise can execute to create value-based, optimal customer experiences and sustain the power of long-term, brand-equity. </p> <p>Aligning organization health leadership creative confidence and self-actualization is leadership at its best. Remarkable leaders conduct business in a new way — one that imagines a healthy workforce productive advantage, maximizes human potential and tethers the organization to a common set of principles. The task of highly effective leaders is to design high-impact business goals to attain organization health.</p> <p>Thriving organization health business models embed mindful collective impact stakeholder collaboration connections. This is done via a community-based, learning health care system and optimal healing environments that enable a user-friendly connectivity interface. What’s important is that this interface is consistently reliable and seamlessly improves key components. They include population health promotion capabilities and functional wellbeing systems in which science, informatics, incentives and culture are aligned for continuous improvement and innovation. The approach must be aligned with best practices that are seamlessly embedded in the care process, as well as patients and new knowledge captured as an integral byproduct of the care experience to achieve the best care at lower cost.</p> <p>Our MI attitude to think the unthinkable with board chairs — and making the invisible visible with CEOs — continues to drives business success and provide a pathway to achieve competitive advantage and optimize commitments to accelerate organization health action plans and workforce health achievement.</p> | <p>MI is the final frontier to transforming health and performance improvement innovation leadership, achieving optimal healthy workplace realization and making healing as important as curing to sustain company-wide profits and competitive advantage while helping their organization’s workforce evolve, achieve and thrive. </p> <p>The “Masters of MI” realize that creativity is essential to success and something you practice throughout the MI creative confidence, hard-wiring self-actualization achievement process. Bottom-line: Hard-wiring MI activates a cracking-the-code mindset for CEOs and their ability to stay ahead of the innovation curve and sustain company-wide profits and competitive advantage. </p> <p>We are working on other meaningful distinctive hard-wiring MI capabilities, technologies and learning system collective impact collaboratives that will drive the biggest changes in the health industry over the next two years. They include: <br /> <br /> <strong>Health date analytics technologies</strong>: MI approach to empowering organizations with better analytics and informed decision-making guidance to change the course of their organization health strategy and advance plan design action plans.<br /> <br /> <strong>Accountable health and wellbeing initiatives:</strong> MI approach to accountable health collaboratives and the Wellbeing Initiative for the Nation (WIN) via a public-private partnership for national prosperity to collaborate, coordinate and guide global organizational health innovation strategies enabling company-wide profits and competitive advantage, workforce effectiveness and community success. </p> <p><strong>Optimal healing environments:</strong> MI approach to transforming health and performance improvement innovation, achieving optimal healthy workplace realization and advancing healing as important as curing.</p> <p class="p1"><span class="s1"><strong>Living well invisible drivers of work-life health and economic wellbeing measurement:</strong> MI approach relates to commitment to be personally responsible, self-reliant and accountable to achieve better living and “Vulnerability Index” reporting which measures the balance of a population's or individual's mix of “unmentionables” — life-context conditions like financial stress or caring for an aging parent — and their ability to cope with these conditions.</span><span class="s2"> </span></p> <p><strong>Healthy life expectancy:</strong> MI approach relates to improving health-related quality of life and wellbeing for all individuals and takes account of the number of years that a person at a given age can expect to live in good health taking into account age-specific mortality, morbidity, and functional health status. In other words, dying with as much vitality as possible. <br /> <br /> <strong>Oncology care improvement:</strong> MI approach to advancing oncology care best practices and improve the service experience of cancer patients and their families. <br /> <br /> <strong>Home hospice and palliative care:</strong> MI approach to optimal healing environments in home hospice and palliative care to achieve breakthrough improvements in relieving human suffering, including pain, anxiety, dyspnea and helplessness, as well as finding meaning in suffering. <br /> <br /> <strong>Precision medicine and genomic innovations in health: </strong>MI approach to precision medicine and genomics-driven diagnosis, complex and rare chronic disease testing and treatment alignment capabilities.</p> <p class="p1"><span class="s1"><strong>Enabling technologies, scientific discovery and telemedicine capabilities:</strong> MI approach to accelerate best care at lower cost via primary care and complex care management solutions; value-focused comparative effectiveness outcomes research and life sciences innovations; and advances in mindful use of center of excellence telemedicine capabilities via remote consults for appropriate individual medical, behavioral and population health promotion problems instead of visiting emergency rooms, urgent care centers, and physicians’ offices.</span><span class="s2"> </span></p> <p><strong>Wearable computer technology and remote monitoring technologies:</strong> MI approach to wearable computer technologies and tracking devices and strategies to achieve meaningful behavior change. </p> | <p>Organizations worldwide see MI as essential to fortifying the fabric and culture of their enterprises. A commitment to MI, compelling ideas and the use of transformative MI is making mindful innovators constantly aware of their mindful intent to amass enterprise-wide economic well-being.</p> <p>Our work with the Samueli Institute’s Wellbeing Initiative for the Nation (WIN) — a national effort that convenes CEOs, C-Suite executives and health policy thought leaders from the private, public and military sectors — is working to expedite the transformation of our health care system to one that enhances community health and fosters a flourishing society. <br /> <br /> Samueli Institute’s vision and its WIN public-private partnership for national prosperity — includes a next level measuring social wellbeing collective impact approach — and advances a new system of currency that may seem like a fantasy, but it’s this type of radical thinking that’s needed in America to stop the progress of chronic disease and unhealthy living in its tracks.<strong><sup>1</sup><br /> <br /> </strong>Imagine that there was a Social Wellbeing Index (SWI). Alongside the Dow Jones stock market index and other reports of financial wellbeing, the state of social wellbeing would be announced each day, broadcast on television stations, streamed on the radio, and featured on financial market and Internet news sites.</p> <p>Imagine that this index was used as a metric for tracking the health of our society and could be reported for a city, state, county, country, community, company or for any organization. Imagine that policies and laws could be made to encourage the investment in increasing this social wellbeing index and that both tax incentives and profits were tied to it. Imagine that something of value such as a SWI currency, redeemable for physical or service resources or social appreciation and recognition, could be gained from those who boosted the SWI. The greater the contribution to the index the greater the value of the SWI currency, which could be accumulated, saved and spent. </p> <p>At its heart of the SWI would be a measure of the degree to which social engagement and bonding was being enhanced for the betterment of society as a whole. The value of the SWI currency could be weighted according to the degree to which collective wellbeing was arising from this social engagement. Activities such as investment in time would be considered a key resource and given value for the SWI. </p> <p>Surrounding this core SWI measure would be other more traditional measures of individual and collective flourishing in order to determine the impact on social wellbeing in the culture as a whole. These would likely be the parameters usually tracked such as morbidity and mortality, public health measures, health behaviors, education success, stress and happiness levels, disparities measures, environmental health, nutritional sustenance, levels of safety and violence, economic stress, and degrees of altruism and civic engagement.</p> <p>If simplified into a core index, reported daily and tied to both economic and social reward, the Social Wellbeing Index could become its own ongoing worldwide wellbeing driver and have multiple other uses, such as for the Wellbeing Initiative for the Nation (WIN) Challenge.</p> <p>In conclusion, we continue working with our colleagues to expedite the transformation of our health care system to one that enhances community health and fosters a flourishing society.</p> <p>1. <strong>Reference</strong><br /> <strong>Think Big for Social Wellbeing</strong><br /> Posted on December 4, 2014, by Wayne B Jonas, MD, President and CEO, Samueli Institute <br /> <a href="http://www.SamueliInstituteBlog.org">www.SamueliInstituteBlog.org</a> </p> | Les C. Meyer | View Edit Delete |
25 | <p>Kate Vitasek is an international authority for her award-winning research and Vested<sup>®</sup> business model for highly collaborative relationships. Vitasek, a Faculty member at the University of Tennessee, has been lauded by <em>World Trade Magazine</em> as one of the “Fabulous 50+1” most influential people impacting global commerce. Vitasek is internationally recognized for her for driving transformation and innovation through highly collaborative and strategic partnerships. She has appeared on Bloomberg radio multiple times, NPR, and on Fox Business News. Her work has been featured in over 300 articles in publications like <em>Forbes, Chief Executive Magazine, CIO Magazine, The Wall Street Journal, Journal of Commerce, World Trade Magazine</em>and<em> </em><em>Outsource Magazine.</em> </p> | <p>The University of Tennessee has been studying the nature of highly successful business relationships since 2003. Our research was originally funded by the United States Air Force with a goal to provide a pathway to long-term, collaborative success among business partners. We codified our findings into a methodology and business model that researchers coined as “Vested” or “Vested Outsourcing.” Our research first gained notoriety with the publication of <a href="http://www.vestedway.com/vested-outsourcing/"><em>Vested Outsourcing: Five Rules That Will Transform Outsourcing</em></a> in 2010. In a way that book began a movement that got people interested in learning how to work better with their strategic partners. The Vested methodology is based on five “rules” that when followed create a business model that fosters a high collaborative “win-win” relationship that purposely creates and shares value so that everyone achieves the win-win.</p> <p>The five rules are:</p> <p>- Focus on <em>outcomes</em>, not transactions: Flip the thinking from a focus on specific transactions to desired outcomes – instead of buying transactions, buy outcomes, which can include targets for availability, reliability, revenue generation, employee or customer satisfaction and the like.</p> <p>- Focus on the <em>what</em>, not the <em>how: </em>If a partnership is truly outcome-based it can no longer have a multiplicity of Service Level Agreements (SLAs) that the buyer is micromanaging. The outsource provider has won the contract because he is supposed to have the expertise that the buyer lacks. So the buyer has to trust the supplier to solve problems. </p> <p>- Agree on clearly defined and measurable outcomes: Make sure everyone is clear and on the same page about their desired outcomes. Ideally, there shouldn't be more than about five high-level metrics. All parties - which may of course include users and other stakeholders that aren't directly signing the contract - need to spend time collaboratively, during the outsourcing process and especially during the contract negotiations, to establish explicit definitions for how relationship success will be measured.</p> <p>- Pricing model with incentives that optimize the business: Vested does not guarantee higher profits for service providers - they are taking a calculated risk. But it does provide them with the tools, autonomy and authority to make strategic investments in processes that can generate a greater ROI and value over time, perhaps more than a conventional cost-plus or fixed price contract might produce over the same period.</p> <p>- Insight versus oversight governance structure: A flexible and credible governance framework makes all the rules work in sync. The structure governing an outsource agreement or business relationship should instill transparency and trust about how operations are developing and improving. And, of course, of where the next threats and challenges may occur, because business happens.</p> | <p>Simply put, the biggest impediments to innovation are old-school, transaction-based, and risk-averse thinking. I’ve found that waiting for the Aha! Moment when it comes to innovation generally means there will be a long wait…It’s much better to create a transparent, incentivized environment that encourages innovation both from within an organization and in conjunction with an organization’s partners.</p> <p>This is what P&G’s CEO, A.G. Lafley, did when he set out to reinvent the company’s innovation business model in radical and precedent-setting fashion. Questioning the sustainability of the conventional “in-house-do-it-ourselves” model, Lafley determined that looking beyond P&G’s walls could produce highly profitable innovations. In his book, <em>The Game Changer,</em> Lafley wrote about how P&G used innovation to spur company results. He wrote, “In an innovation-centered company, managers and employees have no fear of innovation since they have developed the know-how to manage its attendant risk; innovation builds their mental muscles, leading them to new core competencies.” We studied P&G’s highly successful Vested relationship with Jones Lang LaSalle (JLL) for facilities and real estate management as part of our research. JLL has won P&G’s supplier of the year award three times and has won the International Association for Outsourcing Professionals GEO award for innovation in outsourcing for their progressive thinking in how they drive innovation through strategic outsourcing.</p> | <p>This is the million dollar question and why we actually put all of the effort into our research. A Vested agreement is all about engraining innovation into the very fabric of business relationships. Our deep applied research helped us learn what the best were doing. Then our challenge became codifying our learning into a methodology that any organization could use. We’ve now got five books on the topic and seven courses that individuals and organizations can use to help them as they seek to embed an innovation culture into their business relationships.</p> | <p>I think the major trend will be the increasing realization that collaboration and transparent communication is a necessity in today’s technological and globalized business environment.</p> <p>Another trend that will continue to gain traction is the move away from transaction-based business models and the old-school emphasis on lowest cost and labor arbitrage. You’ll definitely see a rise in relational contracts that leverage a Vested or even a sound Performance-Based sourcing business model. Instilling collaboration through relational contracts will free everyone to do what they do best without constantly looking over their shoulder at the bean counters. The key is to make sure you craft these agreements properly. Far too many procurement professionals “say” collaboration and are beginning to shift to a relational contract mindset, yet they don’t have a clue what they are doing. We are working hard to make education accessible and have made five courses available as online courses –so they are widely available. This includes are Creating a Vested Agreement and Getting to We online courses, which both come with an excellent toolkit to help individuals not only learn – but “do.” </p> | <p>I’d refer once again to the P&G example and share some of their case study that’s profiled in the book <a href="http://www.vestedway.com/vested/"><em>Vested: How P&G, McDonald’s and Microsoft are Redefining Winning in Business Relationships</em></a> – which is related in chapter 2. P&G brought its focus on innovation to its facilities management relationship with JLL by challenging JLL to not just <em>take care</em> of its buildings, but to <em>take charge</em> of the buildings. The companies created a commercial agreement that was Vested in nature, meaning that they collaborated to produce win-win results by sharing and creating value through innovative, performance-based goals. Basically they flipped the conventional outsourcing approach on its head: P&G developed a business model around contracting for transformation and results instead of contracting for day-to-day work and transactions.</p> | Kate Vitasek | View Edit Delete |
49 | <p>In the UK’s world of IT, Martin Summerhayes is known as “The Billion Dollar Man,” having once innovated a billion dollar business for HP while also working as a field engineer.</p> <p>His expertise in customer experience and service needs derive from innumerable physical visits from his field engineer days, which have enabled him to create enhanced service models with a customer-friendly but up-front extended warranty. This innovation became a huge new revenue stream for Fujitsu, and a model emulated by many companies since its inception. His service ideas stem from customer-centric realizations like this: Why should a customer have to deal with the complexity of choosing between hardware, software or warranty departments in seeking solutions from their provider? Surely the provider should be able to take their problem – or, better still, already know or anticipate the problem – and refer them to the right channels to solve it.</p> <p>Summerhayes is now Head of Delivery Strategy and Service Improvement for Fujitsu – one of the world’s top five IT service providers, with products and services available in more than 100 countries. The company’s “human-centric” tech innovation is far-reaching, ranging from farming sensors for better harvests to software for the hearing impaired, and augmented reality systems to reduce truck rolls for field engineers. Its slew of recent awards includes the Citrix Award for Partners, in which Fujitsu managed to get a key agency of the New Zealand government back online within days of the country’s 7.8 magnitude earthquake, with a cloud-based desktop-as-a-service solution.</p> <p>Rather than seeing their tech portfolios managed in a series of add-ons and piecemeal updates in response to changing needs and improved software, enterprise customers routinely hail the fact that Fujitsu IT services are continuously up-to-date thereby enhancing personalization for the client’s needs.</p> <p>One of Fujitsu’s most famous clients in the UK is McDonald’s. At a recent Fujitsu Forum event, Doug Baker, head of IT for McDonald's UK, said the partnership had gone beyond the traditional “break-fix” contracts of the past, and toward a flexible service which enabled a personalized, optimized customer experience for its 1260 restaurants.</p> <p>The partnership, including the new CARE program, is enabling kiosk-driven table service – and the remarkable recognition that “the biggest focus for technology innovation in restaurants is leveraging a customer’s own device,” – as well as a very human kind of load-balancing, where drive-thrus take simultaneous orders in two lanes and deliver efficiently in one.</p> <p>Having learned some high traffic retail customers do not like the disruption of even rapid response site visits by predictive IT engineers, Fujitsu responded with “invisible service provision.” Martin Smithen, head of Fujitsu’s TMS Offering Development, notes to ensure the success of the remote, invisible support, the service requires customers are kept fully informed. Despite the benefits of optimized engineering support, the role of human intelligence remained on a par with technology in formulating business strategy, Doug Baker, head of IT for McDonald's UK, says, “The most powerful data we have had comes from CARE engineers who go to sites, talk to the stores, and brief us on how the systems are being used.”</p> <p>No one knows the value of both human intelligence and technology better than Summerhayes, who remarks, “The consumer is driving changes like the opportunity for prediction, the cost of IT, and the spread of the Internet of Things. Thirty years ago, we could monitor container ship’s location. Twenty years ago, we could monitor the containers. Ten years ago, we could monitor the pallets in the containers. Now, we are talking about tracking products throughout their entire journey, through lower cost RFID tags on value-based consumer items. Lower levels of granularity present huge opportunities for customers.”</p> | <p>Fujitsu is an organization that manufactures everything from telephony systems to PCs, mobile phones, enterprise servers, mainframes - and much more. It operates in a software development space and provides solutions for customers.</p> <p>In Fujitsu, we hope to bring intelligence, big data, analytics, predictability, and predictive tools together to answer big questions: How can we better track trends and anomalies? How can we predict failure before failure occurs? How can we drive preventative programs? How can we use our engineering workforce, our partner workforce, and our repair workforce to ensure our customers do not experience downtime? My team is leveraging software tools and partners, plus the knowledge we have developed to be able to look at that space.</p> <p>A new type of service model called CARE uses intelligent engineering to drive and support the customer’s changing requirements. One of our prominent customers, McDonald's, is leveraging our CARE service to allow customers to pre-order and select a time for pick up before the customer gets to the store via an app on their phone; the customer can use a connected kiosk; customers have a choice.</p> <p>Fujitsu ensures uptime and availability to those stores, which often operate 24/7.</p> <p>As a part of the outsourcing space within my team, I look in how Fujitsu provides managed services to customers who have either IT products or It services provided by another partner we can take over.</p> <p>From a game-changing perspective, ten years ago, there was IT outsourcing version 1.0 – where the company decided to move it to a partner who managed its IT provision on a holistic basis. Outsourcing moved through a tower model called IT managed services or outsourcing version 2.0, in which the IT provision breaks up into various towers. It is like an orchestra of independent companies playing together, or the company orchestrating it themselves.</p> <p>My team is looking at how we provision engineering-type services, provided either remotely or on customer sites. It is <em>how</em> we provision and make available those engineering services to customers that is a key game changer. We hope to provide a service before the customer realizes they have a problem.</p> <p>Fujitsu tries and pilots programs like an intelligent error engineering deployment for one of their customers in the UK. Their goal is to take it from white screen concepts to a working prototype within two weeks.</p> <p>We are looking at augmented reality from our engineering workforce perspective. The ability to use a smartphone, and point at another device for both visual and providing verbal instructions to the engineer in the terms of how best to resolve the problem.</p> <p>Fujitsu hopes to use virtual reality tools to train our engineers like "just in time training" - broadly scaling our engineering workforce in terms of a core set of skills.</p> | <p>Speed is the biggest hurdle to overcome when it comes to IT services, as our customers expect rapid deployment and zero downtime. The complications of adopting speed of change with the challenge of demonstrating return on investment limit innovation. It becomes difficult to clearly articulate the value of innovation without taking the C-suite on a customer experience journey, where they can clearly articulate those savings.</p> | <p>Fujitsu’s innovation depends on the speed of adoption versus the speed of change. Most companies, whether banks, retail institutions, or manufacturers, have a legacy environment plus a small element of new code, and its service models vary dependent on those factors.</p> <p>Amazon is a disruptor in retailing and supermarkets. In the UK, Amazon states they are the online supermarket. Consumers can even order fresh produce from Amazon. Many companies are seeing disruption within their industry by new competitors.</p> <p>There is little to consider as first generation, innovative. Small pocket organizations create an innovative idea, it develops, and then it is realized as a blue ocean market opportunity or a disruptive market opportunity. That is how innovation happens, and how innovation gets inculcated in an organization.</p> <p>I see innovation in Fujitsu and in many of its competitors. Fujitsu implements an encouraging culture for innovation. The challenge is in demonstrating the business case and the return on investment.</p> | <p>Within IT services, the Internet of Things, the connectivity of many devices, and the integration of big data through analytics will be the major industry disruptors.</p> <p>Augmented reality and virtual reality will have an impact, although AR will be more prevalent. It is how companies bring those various elements together around industry vertical solutions. How vertical solutions are brought together to offer a solution to the customer is key.</p> | <p>Google’s innovations are highly compelling. When traveling, Google gives online recommendations through Google Maps in terms of products and services nearby the user. A consumer can submit photographs and narratives of places they have visited via social media channels, and contribute to shared information.</p> | Martin Summerhayes | View Edit Delete |
30 | <p>In 2012, Greg Smith became an overnight game-changer in the debate for Wall Street reform, with his sensational public resignation in the New York Times: “Why I am leaving Goldman Sachs.” The former Goldman equities vice president is again tackling systemic inefficiencies and predatory practices in the financial world, but this time it’s in the retirement savings sector. Smith recently accepted the role as President of Blooom, a Midwest startup which was named a Word Top 10 Innovative Company (2015) in the personal finance space by <em>Fast Company.</em></p> <p>The South African expatriate was motivated to move due to the realization that technology innovation had yet to be harnessed to bring down costs for consumers in the financial services sector – and his conviction that, in a gridlocked legislative environment, only innovation could trigger rapid reform.The company was created in response to these astonishing research findings: that four out of every five 401K plans are incorrectly invested, and that the average American unknowingly pays $150,000 in investment fees over their lifetime – the bulk of which are entirely needless. Also, its products were innovated on the basis of these twin conclusions: that 401K plans simply cannot be efficiently managed on a DIY basis, and that only the wealthy can afford financial advisers who can customize and maximize the investments while minimizing their costs.</p> <p>Just a year after its official launch, Blooom has already taken over management of 401K plans for clients in 48 states, using smart software which automatically rebalances investments, while lowering fees. Blooom manages close to $100 million of retirement assets, and employees at half of the Fortune 50 have already signed up as clients of Blooom.</p> <p>Blooom is also disrupting the competition with its flat fee business model charging individuals as little as $1 per month to manage and update their portfolios. Additionally, an essay was published in Time magazine this month exposing the astonishing inefficiencies in the 401k system. Smith is again giving a public jolt to conventional thinking. And his mission is nothing less than to see an entire generation of Americans harness smart technologies to secure their retirement future.</p> | <p>The US retirement space has changed significantly over the last few decades. People of a previous generation were more likely to receive a guaranteed pension either from their employer or the government. Today, Social Security is not enough to provide a stable retirement, and guaranteed pensions have largely disappeared. So Americans have to fend for themselves and are left with a legacy 401k system that was never designed for the middle class.</p> <p>It has an overwhelming amount of choice, often high fees, and often poor selections of index funds. Many people are bewildered and overwhelmed by this complexity, and make no choice, often missing out on a decade of compounding returns. Others can make bad choices and pay away up to a third of their nest egg in fees, often without knowing it. </p> <p>Blooom is the first company that has a completely fresh approach to the 401k space. We are an online service that analyzes any 401k, no matter where someone works. We then recommend the necessary changes. Finally, if the client hires us, we completely take over the management of their 401k – we make the changes for them, we keep an eye on the accounts, and we rebalance it over time. We are not a 'Do-It-Yourself' Solution. We are a 'Do-It-For-You' Solution. All for a Netflix-like subscription fee of $15/month or less.</p> <p>We use the image of a flower (hence blooom!) to represent the health of the 401k, instead of complicated jargon or charts or graphs that no one understands. Clients love the simplicity and we have grown quicker than anyone else in the automated advisory space in the first year since formal launch. We manage 401k’s for people in 48 states, from age 22 to 67. Our mission is to fix broken 401k’s for millions of Americans.</p> | <p>There are a few impediments that have really kept 401k’s in the 1980’s, despite the advancement of technology. Firstly, 401k’s and retirement are seen as an HR function in the benefits department. Therefore the executives making the decisions on 401k’s have ten other benefits to worry about and are not finance people. So the 401k’s have often been littered with poor fund selections that end up being egregiously expensive for their own employees. There was even a time when the corporation would get kick-backs or part of the very mutual fund fees that their own employees were paying for their retirement.</p> <p>Paradoxically, retirement became a profit center for the very corporation that was supposed to be providing you with benefits. The second major issue is that government largely thinks of the savings problem as a tax issue instead of a complexity issue. I.e. Government thinks if they can just offer you more attractive tax deferrals in your Roth IRA, that tens of millions more Americans will save more money. But behavioral economist after behavioral economist has told the Senate that it is not about taxes. The overwhelming majority of Americans don’t understand the complex tax system. What they need is a very simple system, without jargon, that makes making the “right” choice an easy proposition. There is no innovation, use of technology, or simplicity in the 401k system. This needs to change.</p> | <p>Well I am quite new to Blooom, but am not new to its mission. I think we try to think of every decision we make through a human lens. Finance is complicated – often purposefully – so no one can understand it and so that lots of people can continue to make lots of money off an unsuspecting general public. Our view is that anything we do needs to be understandable to someone who knows nothing about finance.</p> <p>That’s why we charge people a transparent, monthly subscription fee instead of the industry standard of “basis points” or “expense ratios” that get deducted out of people’s accounts without them knowing it. That’s why we use simple imagery to explain one’s 401k instead of a complicated chart. Because of this drive to make everything human, we are forced to keep things really simple. And in finance, keeping things extremely simple turns out to very innovative, and something that people love.</p> | <p>The biggest change will come within 5 years, when the millennial generation will constitute half the global workforce. People underestimate how differently millennials think about money versus baby boomers. Millennials like simplicity, transparency, the predictability of software, the ability to tap the wisdom of their peers and crowdsource an answer instead of paying an expensive advisor for the answer. And that advisor had to deal with lots of paperwork that also runs up the costs. All of this is going away in the investment management business. I think costs will come down and transparency will hopefully go up.</p> | <p>I think much of what is going on in the mobile banking space in developing countries around the world has been truly extraordinary. Examples like M-Pesa that started in Africa, which allows those who don’t have access to a bank to perform much of the basics of banking – sending money, paying people, saving small amounts of money. Why doesn’t the developed world follow this example and make it easier for everyone to be banked? </p> <p>I also think some of the “Nudge" practices going on around the world in national savings systems is good. For example, we know that the only proven way to make people save money is to make it easy for them. I think the 401k system for example should move in an opt-out/nudge direction. For example, when a new person joins a company, start taking some small amount out of their salary and putting it away for them in a low cost, appropriate investment. This will then escalate this percentage over time or when the person gets a raise. And the employee can absolutely opt-out. But what economists find, is that few people do opt out, and ultimately are happy that this inertia set in.<br /><br />Companies<em> are </em>allowed to automatically enroll their employees to 401k plans, yet only about half of corporate CEO’s choose to do so. This is very sad, since many people could be contributing to a nest egg, and often getting free matching from their company, yet they don’t do so because they never get over the hurdle of signing up for their 401k in the first place.</p> | Greg Smith | View Edit Delete |
13 | <p>Dr. Thomas J. Buckholtz, Ph.D., has served in many executive roles including Chief Information Officer for both corporate and governmental organizations. He has made key contributions to the business, technology, and governmental innovations. He has served as an advisor to many key startups, and works as a University Extension Professor guiding workshops on innovation.</p> | <p>Let people pursue their natural curiosity and good intensions. Nudge a person's curiosity, intensions, and pursuit toward outcomes that benefit the organization, its customers and other external constituencies, as well as the person's colleagues and self. Help people overcome shyness about trying to make a difference.</p> | <p>One impediment is a lack of broad-based, impactful thinking and action - both by individuals and at a societal level. This extends to enterprises, governments, suppliers of learning, and other components of society. People miss or misjudge key issues, opportunities, and problems. People overly focus on "yes or no?" regarding one possibility rather than on "to what extent?" regarding several possibilities. Problems outweigh opportunities. Busyness trumps business.</p> | <p>Organizations have opportunities to use various practices that people correlate with the word "innovation." I hope organizations look for, adopt, and adapt suitable innovation practices. I hope organizations avoid inappropriately immature or ossifying practices.</p> | <p>Positive change may occur based on people first focusing on useful opportunities, objectives, and endeavors and second involving appropriate thinking and useful resources - beyond and including technology. Some pivotal technology may correlate with helping people think more effectively. Others may correlate with people's choices of what to measure, how to measure, and what to do based on measurements. Still others may correlate with people's abilities to determine the extent to which people (and systems) rely on supposed information.</p> | <p>People who have "free time" and use it wisely. Organizations that foster creativity and the converting of creativity into innovation. Organizations that have adequately broad views of innovation and aspects of business, governance, and society for which innovation can be beneficial. Organizations that help people avoid undue busyness. Organizations that build society, customers, business practices, partners, suppliers, and relationships - along with lines of products and services. Organizations that reuse and teach - not just use - beneficial practices, processes, knowledge, and data.</p> | Thomas Buckholtz | View Edit Delete |
48 | <p>Digital marketing entrepreneur and strategy innovator Sean Shoffstall is pioneering a more relevant and measurable approach to messaging in today’s multi-channel world of engagement. Shoffstall formerly delivered data-driven marketing strategies for Fortune 500 brands at Teradata. Now, he is a prominent speaker and thought leader who is widely credited for successfully leveraging the “Quantifiable Creativity” marketing approach.</p> <p>Despite the emergence of numerous new marketing technologies, Shoffstall told BPI he sees the state of innovation in digital marketing as stagnant, with training that lags the landscape, and marketers who spend too much time mastering complex technologies and too little time on messaging and strategy. </p> <p>Sean founded his own company, Crave Metrics, which will serve as the host for a software product with game changing potential. Having decoded both B2B and B2C customer brand engagement within growing channels, data and devices, Shoffstall is writing the code that he believes will automatically cut to the relevant numbers.</p> <p>Sean tells BPI: “My ultimate goal is to benefit the marketer and the end consumer. The marketer wanting to create an awareness campaign should be able to log into our platform Crave Metrics, and find the top five awareness campaigns that have run in the last six months. The marketer can then find the right marketing mix that is perfect for a given audience and truly considers how to help the end consumer. If we start messaging customers with the right marketing message mix, then we can send fewer messages to consumers." He adds “Our goal is to have an alpha out at the end of June, and we have already identified a few key customers to be working on that pilot with. We will hopefully have an open beta in mid-September.”</p> <p>Shoffstall says the past seven years has seen a significant consolidation of platforms. Marketers are spending more time on technology than on messaging. He believes we need to bring the power of the marketing message back, leveraged by the power of platforms.</p> | <p>I started Crave Metrics to focus on customer journey analytics. We are trying to solve misleading data with Crave Metrics by giving people a broader view of their campaign’s effectiveness across all their channels, because many marketers do not realize every campaign drives brand awareness and the end value that it creates.</p> <p>Marketers look at a campaign and might see the click-through rate and the open rate, but they are not instantly able to see how it compares against other similar campaigns, or against their company's benchmarks.</p> <p>Our platform will allow customers that review a campaign to not only see what their score is against the Crave Metrics key marketing measures, but also to see how it performs against the company benchmarks, and against similar campaign benchmarks. This answers the marketer’s question that many platforms miss today, I’ve got a metric but what does it mean?</p> | <p>There is an influx of so much new technology. Companies must constantly go from Paid Search, to Twitter, to Facebook, to Email, to Instagram, and be prepared to adapt and market to any and all other digital marketing technologies that develop popular user platforms. Current digital marketing technologies are complicated and ever changing: this leads to siloed information and messaging, and can lead to paralysis for marketing teams who get stuck with basic batch and blast marketing.</p> <p>In spite of all this, universities and colleges are still primarily teaching traditional marketing strategies. Companies then hire young people simply because they know how to use certain media platforms or marketing tools, which can be problematic on its own. New educational and training systems will be vital to success in coming years to help bridge the talent gap. </p> | <p>The leadership of a given team drives its innovation. One thing I have always done with my teams whenever someone new joins us, is bring up the top three to five trends I am seeing succeed with our customers or elsewhere, and ask them questions about its success, which opens the door for them to bring their own ideas to the conversation. </p> <p>At the same time, I am willing to pilot certain ideas. I am willing to invest 8 percent, 10 percent, 12 percent of my team’s time to pilot one of these ideas. We cannot always go after the newest platforms, but we can test new platforms on campaigns. If a campaign fails, at least we learn something. </p> <p>I have also seen mid to large size companies create a sandbox marketing environment that allows a safe atmosphere to test the latest social platform or API integration, just to see if it breaks. If it works in the sandbox, we bring it in. You need a partnership between leadership, the IT group, and the marketing department to try something new.</p> | <p>VR and augmented reality will change marketing. In-game marketing is another platform that is similar, these immersive environments is where we are going to see the most growth and change. Marketers will need to again focus on the message and make sure it fits in these environments without being obtrusive or obnoxious.</p> <p>I believe another key business trend will be, I hope, a focus more on consumer data privacy. We protect financial and healthcare data and have seen the repercussions when it isn’t secured. Consumers give marketers their trust by accepting cookies, by signing up for our newsletters, by purchasing and registering their products. They entrust marketers with their data, so marketers have a responsibility to use the data for marketing without releasing potentially sensitive information. I think customers will start to demand more protections like other sensitive data. </p> | <p>Amazon's Alexa. The simplicity of voice activation to access music at any time, to interact with different lists and calendars, to listen to podcasts or news sources, and to use fewer screens, is a game changer for the consumer marketplace. </p> | Sean Shoffstall | View Edit Delete |
21 | <p>Diana Stepner is the VP of Innovation Partnerships & Developer Relations at Pearson - a company which has been innovating since the Industrial Revolution. She helps business units accelerate digital innovation, drives global partnerships with startups, builds relationships with developer communities- including incubators and start ups- and runs the Pearson Catalyst for Education accelerator program. Diana's passion is to bring innovative user experiences, products, and partnerships to life by applying technologies that are not always ready for primetime. </p> | <p class="p1">We help teams across Pearson gain insight into emerging trends - what we call developments “on the fringe.” For example, over the last few years we have witnessed the consumerization of education. Students, teachers, and learners, for example, have similar expectations and behaviors in the classroom as they do outside. As a result, they crave rich digital experiences and believe learning can take place anywhere and at any time. </p> <p class="p1">Acknowledging that technology is helping to drive change in education to deliver on the expectations of learners and teachers. We have been able to quickly identify and connect Pearson teams with startups - particularly through connections with incubators and accelerators (<a href="http://rocket-space.com/"><span class="s1">RocketSpace</span></a>, <a href="http://www.1871.com/"><span class="s1">1871</span></a>, <a href="http://1776dc.com/"><span class="s1">1776</span></a>, <a href="http://www.marsdd.com/"><span class="s1">MaRS</span></a> and <a href="http://learnlaunch.com/"><span class="s1">LearnLaunch</span></a>). Then via <a href="http://catalyst.pearson.com/"><span class="s1">Catalyst</span></a>, Pearson’s accelerator, we’re able to build pilots collaboratively with the startups – all the while providing mentoring and insight that will help them grow and scale effectively. We’re also championing the next wave of creators and makers by being involved with maker spaces where learners of all ages gain hands-on skills, whether it be in electronics, arts, science, or beyond. </p> | <p class="p1">It’s human nature to gravitate towards the familiar - things that have already shown they are effective and work from a business perspective. But education is becoming increasingly consumerized, therefore, we need to deliver experiences that match the ones learners have outside of the classroom. This requires education companies to innovate more quickly, like other technology companies, while also ensuring that all products are delivering the expected outcomes.</p> | <p class="p1">Pearson has a history of innovation. The company’s origins were in the construction business during the Industrial Revolution. In fact, the story goes… “Pearson became one of the world's largest building contractors at a time when the industry controlled development of the transportation, trade and communication links that fuelled world economies.” Pearson had a similar forward-thinking approach when deciding to focus on education, especially the shift to digital, recognizing that technology was changing the way people learn. </p> <p class="p2">We started a Future Technologies team in 2011 to explore emerging technological developments and create prototypes that could be shared across the business. A network of 150 digital thought leaders, called Champions, was created to help promote the sharing of best practices and increase visibility into new platforms and products across the business. </p> <p class="p2">We also introduced a developer platform to enable developers both inside and outside Pearson to experiment with our content. In 2012, the Pearson Catalyst accelerator program was introduced. It is an open innovation program that enables anyone from across the company to submit a real business challenge. We then make a selection of those challenges and publish them so that startups can apply to be part of the program. The startup most capable to address each challenge is selected and works alongside a Pearson team to build a pilot solution. Each of these initiatives encourages open innovation. The focus is on collaboration and sharing; breaking down the corporate walls. </p> <p class="p2">Other innovation activities also include a new product lifecycle program to help the company adopt agile product development methodologies and a corporate-wide efficacy statement.</p> | <p class="p1">I’m actually hoping technology is going to take more of a back seat over the next two years. I don’t mean that technology will lose importance. It will remain a critical factor. But it will become invisible and serve as an enabler. We’re already seeing the emergence of this trend with the Internet of Things and the rise of data science.</p> <p class="p2">On business models, open and free is always going to be a contender – especially as quality continues to rise. Yet it’s <em>how</em> the information is presented that will be the differentiator. In education, the increasing focus is on personalized and adaptive learning - that means ensuring the right content is presented to you at the right time and being able to quickly filter through the content to find the relevant information you need. I also don’t think we’re close to the end of the sharing economy.</p> <p class="p2">More on the “fringe,” I am intrigued to see how the bitcoin blockchain is applied in new ways, including in education.</p> <p class="p2">We are seeing the rise of competency-based learning, which introduces more flexibility and a focus on learning practical skills or competencies, especially those that apply in the 21<span class="s1">st</span> century. It’s also important to have a global outlook. Mobile developments in Africa, digital experiences in China, and creative approaches to learning in Australia cannot be overlooked.</p> | <p class="p1">I’m a big fan of Rallyteam. The company launched at TechCrunch Disrupt in San Francisco back in September 2014. The focus is on employee empowerment. Most companies have valuable side projects that don’t get done simply because of lack of resources, funds, visibility or all three. With Rallyteam, a marketplace of projects is created. People in a company can submit a project or indicate they want to work on a specific type of project. Employees are able to gain and apply new skills all the while completing real, tangible projects for their employer. It’s a really exciting model - one that can help keep employees engaged and enable learning. </p> | Diana Stepner | View Edit Delete |
61 | <p>Dhrupad Trivedi, president and chief executive officer of A10 Networks, brings global leadership experience across multiple businesses and is passionate about driving leading technology businesses to win by creating value for customers.</p> | <p>I would say one of the keys to building an innovation culture is having people within your organization and on your teams that continuously challenge the status quo and have the ability to think about the biggest problems and challenges customers and markets are trying to solve and how your company can evolve to address them. Typically, that is going to require you to look at things from multiple points of view. You have to think about it from a technology point of view; you have to think about it from a user point of view; and you have to think about it from a structural and macro trend point of view. So, when I think about this, I think about organizations and cultures that are continuously connecting what they do with how they can help their customers and markets achieve value. This may include breakthrough technology, doing something no one else can do, but it is always about connecting what you do with your customers and markets. It may be your customers don’t really know the solutions they need, but still you need a culture that is always focused on solving the customer’s problem.</p> | <p>One of the biggest impediments is being anchored to what has worked in the past. Too many technology companies begin by doing something great, but they fail to understand what the next great thing should be. Where can I continued to innovate? The second factor, which is related to that, is inside-out thinking rather than outside-in. Companies can spend too much time thinking about what they do without bridging that to what their customers really need. Companies may have important technology and expertise that their customers don’t have, but they still need to make that relatable to the customer and ultimately deliver solutions that improve the customer experience and deliver better business outcomes. Now there are some innovations that you may build that never translate into customer success, and that’s okay. However, it’s critical that you keep thinking about where your customers and markets are going and how you can help them get there.</p> | <p>One of the things that drives innovation is creating a problem-solving culture. You need to create a culture of examining the biggest problems your market faces and figuring out how you can help solve them. The problem might not be the product itself. It might be that you need to make the product easier to use and consume. Maybe it’s a technology problem. Maybe it’s a usability problem, or maybe it’s a customer interface problem. But being clear on the problem you’re trying to solve is essential. It takes an analytical mindset in which you are always being driven by the problem you’re trying to solve. You are trying to solve a problem in a new and different way, and there is always the chance that that won’t be the right way. There is always an executional risk. But an analytical mindset will help you understand that risk, along with the invention side of the equation. It guides you in a more structured way and helps you understand why you are trying to do something and what success will look like.</p> | <p>There are many. One of the really big trends in our industry has to do with the Internet of Things and Industry 4.0. More sensors and objects are being connected and are collecting and generating more data. And all of that runs through networks and into applications. All of it needs to be efficiently and flexibly managed and that represents a major opportunity and challenge for our industry. The second thing that affects our business is that, as all of this gets connected, it creates a naturally attractive target for cyber criminals and attacks. A10 Networks brings a deep understanding of networks, but also an understanding of the nature and structure of those attacks with the technical expertise to detect them and remediate them. I don’t expect cybersecurity to become less of a problem over the coming years, especially as connectivity becomes more and more important. A third big trend is the continued adoption of the cloud for storage and compute. This is a huge trend for the industry and also for us. How do we support our customers as they continue to move into the hybrid environment of public and private clouds and on-premises systems? All of these trends are also creating a major skills gap, so it’s incumbent on us to continually create greater customer ease of use.</p> | <p>Achieving alignment across the organization and all of your teams—commercial teams, engineering teams, product teams, marketing teams—on why you are doing things is really a strategic imperative. And then you need to connect all of that to the customer. As I’ve said before, not everything you try is going to work. But if you can create a much more inclusive conversation on why you are doing something, it really helps you get there. Now I think it’s true that if you do everything the customer tells you to do, you will not be very successful because the customer doesn’t know what he or she doesn’t know. But if you understand their underlying problems, you can be far more effective as an innovator. What we are trying to do at A10 Networks is to create a shorter closed loop between sales, engineering and product management, so that we can function as one team focused on solving problems for our customers, whether that is a new product or a new consumption model, for example. Another strategic requirement for A10 is always focusing part of our development efforts on breakthrough ideas and solutions. They may have a low probability of success, but if we are successful, we will solve major challenges for our customers.</p> | Dhrupad Trivedi | View Edit Delete |
32 | <p>Described as “a Renaissance man of the digital age,” Pieter Nel – Senior Vice President of Operations at YouNow – is also a pilot, a yacht skipper, a mountain rescue volunteer, and a MIT-award-winning entrepreneur. Previously, the South African-born executive and engineer was the CTO who helped propel the massive early growth of Africa’s largest social network, Mxit – which, at one point, was larger than Twitter.</p> <p>A <a href="http://www.sablenetwork.com/inspirations/advancements-achievements/why-mxit-should-be-a-source-of-both-lessons-and-pride-for-south-africans">new profile</a> on Nel on BPI’s sister platform, the SABLE Accelerator, adds: “The 40-year-old is a key innovator in three of the most coveted fields of the new economy – virtual currencies, machine learning and monetization strategy – and he’s doing it all for YouNow: a platform which defines the social connectivity revolution.” This live video social network is even disrupting the cable TV space, having recorded average active user times for its millions of subscribers at almost 50 minutes every day.</p> <p>Nel positively boils with ideas for disruptive technologies – and told BPI that he has retained his passion to innovate on mobile platforms to empower African entrepreneurs. Is this Q&A, Nel also speaks about the potential for “smart farming” in Africa, enabled by drones and smart data. He has also harnessed his experiences of leading dozens of mountain rescues for a Thought Leadership project that principle tech founders and CEOs should use in navigating the fast-changing market landscape.</p> | <p>Open communication and easy interaction between people of different backgrounds always have a net positive impact on society. We saw this at Mxit where we allowed millions of users to interact and communicate at a mere fraction of the cost of an SMS. Once again at YouNow, we are using the video medium to allow users from all over the world to socialize, meet friends and exchange ideas. It’s an extremely interactive platform – you are chatting directly with the broadcaster and fellow viewers, live. There is this powerful need for social interaction, to share ideas and opinions, and this is a fantastic channel for that impulse.</p> | <p>I believe very few American startups have an understanding of global markets and user bases and how to serve them well. The Internet has moved to mobile and the potential markets in Brazil, Africa, India and South East Asia are far bigger than what you find in the US. Understanding how to be successful in those markets early on in your growth is a key differentiating factor. In that respect, the Mxit experience was extremely advantageous, as we were in many respects years ahead of the curve in terms of building mobile-first global communities. In general I find South Africans to be much more comfortable in a global context and within a culturally diverse environment. </p> | <p>Innovation is a culture that is driven from the top. One needs to create an environment that allows for experimentation and failure. If your team is too afraid to fail, and not incentivized to experiment, they won't do it. It actually requires a lot of discipline too - engineers are bound to continue tinkering with something for too long and one has to have the discipline to move on to try new things. When Herman Heunis was running R&D at his Swist Group Technologies - the directive was to try 10 new things each year. One of them ended up being Mxit.</p> | <p>It is going to become increasingly difficult for business leaders to be effective without the ability to engage deeply in analytical thinking and understanding data, complex systems and non-linear effects. We live in an increasingly complex world, and it's all too easy to make bad decisions based on data that is not fully understood. Every business executive should have a basic understanding of data science and statistics. </p> <p>From a technology perspective, mobile video, virtual reality and the Internet of Things are of course the big trends that most analysts agree on. In the emerging market context I believe that there is a large potential for drones combined with smart data analysis to revolutionize smart farming in Africa. Africa has enormous potential in terms of agriculture and it unfortunately doesn't come to it's full right given all the strife, corruption and policy failures like we've seen in Zimbabwe.</p> | <p>One of the successful behaviors of innovators is to bounce their new ideas off of as many people as possible. MIT professor Hal Gregersen describes this as one of the 5 traits of successful innovators in "The Innovator's DNA." Steve Jobs was always talking about his ideas to everyone - and a diverse set of people too. Innovators continually iterate and enhance their thinking in this fashion. The opportunity to do this is of course much better in dense environments like Silicon Valley, Cambridge, MA and NYC. It's a behavior I try to imitate all the time.</p> | Pieter Nel | View Edit Delete |
7 | <p>Chris Hummel has a 20+-year career in enterprise sales and marketing and is a globally-recognized thought leader and widely-respected senior executive in the technology industry. Chris Hummel is a true international executive, having lived, worked, and successfully led organizations around the globe, including the US, Germany, Eastern Europe and Asia.</p> | <p>Innovation is something you don’t easily teach or even force on an organization. It requires fresh and unique perspectives gained from either pulling people out of their traditional roles and comfort zones or by bringing in outside perspectives through new talent acquisition or external expertise. At the same time, executive leaders must display and encourage a strong preference for thinking ‘outside the box’ and a willingness to take risk to foster a change/innovation culture. </p> | <p>Innovation is stifled in companies that operate in silos, where leaders are inwardly focused, and where stakeholders have allowed business challenges, market dynamics or competitive pressures to dominate decision making and investment decisions. There is ample evidence of brands who have seen market leading positions deteriorate due to over-confidence and too much “we know best” mentality. Finally, companies whose research and development agendas are dominated by engineering or product focus rather than a market focus often fall behind peers from an innovation perspective.</p> | <p>A determined shift to a market-focused R&D agenda is helping to drive an accelerated pace of innovation at my company. We have shifted away from investment decisions driven by the product portfolio or so-called “long tail” development projects toward a decision schema driven on careful analysis of industry trends and changing customer requirements. Those companies whose investment priorities are the result of market-facing analysis will have a faster time to value from innovation projects.</p> | <p>The emergence of improved collaboration and communications technologies will enable innovation workers to better come together as virtual teams and amplify the collective effort of today’s “anywhere workers.” Such technologies will seamlessly combine voice, video, text, structured and unstructured content while also enabling a much improved collaborative environment that will drive not only higher levels of business performance but also accelerate the pace of innovation.</p> | <p>I admire Apple for what they have done for product design. Frog showed us the power of bringing customers into the conversation around innovation. In the end, I admire any company who has the courage to seek a better alternative when the “good enough” option won’t do.</p> | Chris Hummel | View Edit Delete |
46 | <p>CA Technologies has emerged as one of the world’s largest independent software companies, based on a mission to "create software that fuels transformation for companies.” Its consistent approach, across 40 countries of operation, is to remove obstacles in companies’ journey to success within the application economy, providing solutions on everything from digital transformation and security to customer experience and speed-to-market – and to bridge the gap between ideas and business outcomes. In March of this year, CA Technologies was recognized among software leaders as a “2017 World’s Most Ethical Company” by Ethisphere Institute.</p> | <p>The CA Technologies Business Analytics team is a global corporate team that provides business insights to stakeholders across the company, including sales, marketing, customer support, customer success, product engineering, HR, finance – you know: everybody.</p> <p>The charter of my team is to help improve the top line of the company by changing our culture so that decision-making is very data and insight-centric, enabled by analytics. We have been quite successful in that goal.</p> <p>Today my team is changing the game by influencing the strategy and operations of the company. We are helping personalize the customer experience at every touchpoint by injecting customer insights at every point of engagement. In that regard, especially when it comes to large enterprise software companies, we are unique. In fact, over the last year, Forrester has published 'best practice' reports that have cited what we are doing at CA.</p> <p>If you think about retailers like the Amazons, e-tailers, and Googles, they all have B2C models that have used analytics to propel their business forward. We are leveraging concepts from the B2C world and bringing them to B2B, specifically in an initiative to transform CA from a traditional B2B enterprise software company to what we call a B2I, or “business to individual.”</p> <p>This is a response to how buying software has changed drastically. Millennial buyers have a very different mindset, even when it comes to enterprise buying. They are higher risk takers as compared to the traditional CIOs and the baby boomer buyers, which means they will not sign very large enterprise deals. They want smaller scale deals that they can test and get in and out of quickly. For enterprise software, companies need to foster a better connection with millennial buyers and engage them continuously throughout the buyer’s journey. This means marketing and selling to them in the digital realm in a way that recognizes them as individuals and personalizes their experience.</p> <p>Our strategy calls for analyzing our customers not just from a firmographics standpoint, but also demographics, psychographics, and technographics perspective. Many companies are thinking about this approach, but they haven't embarked on this path because this type of transformation is a very difficult thing to accomplish. It requires top leadership, a very thoughtful process, and the right team geared towards innovation.</p> <p>To deliver the value our internal customers have now come to expect, we put a significant emphasis behind educating people in the art of possible. Our stakeholders don’t always know what is possible with analytics. It is my job to show them. For example, last year we were able to pinpoint customers who will not renew contracts with a high degree of accuracy. This was a first in the company, and opened many eyes. Another example: Our chief customer support officer wanted to reduce the number of calls coming into his call center, and have more collaboration occur in the online communities where customers can discuss and solve their own problems. Essentially, he wanted to go into an omnichannel direction for support. With analytics, we were able to offer insights as to why people call the call center and suggest solutions to best leverage online communities. Calls have since been dropping, and engagement through online communities has increased.</p> | <p>Culture is the biggest barrier to innovation. If you are in a legacy company, there can be a certain mindset that I call the "not-invented-here" syndrome, or “this is how we do it because this is how it has always been done,” ideology. That to me is one of the biggest impediments, because it means that no matter how the world is changing, we are insular and we will keep doing things the same way. </p> | <p>The culture that I found when I arrived two and a half years ago is drastically different from what CA’s Business Analytics organization is today. Many companies are controlled by top-down policies, but I believe to foster innovation, you need to set people free; let them think. Senior leaders can establish aggressive goals, but then need to let employees go on their own. They will make mistakes, so leaders must provide the air cover. Of course, if somebody makes the same mistake again and again, then there is a problem. But if an organization wants to succeed in innovation, employees cannot be afraid to try new things and sometimes fail.</p> <p>In my opinion, innovation is a drug. Once people get used to that mindset, the feeling of moving fast and being creative thinkers, you can’t stop that, or people will actually leave.</p> <p>A start-up environment is a good example – they are free, they are innovative, they do cool stuff. You have to change the way an enterprise company operates to mimic that mindset and create an environment of innovation.</p> <p>So, we essentially created a start-up within CA’s Business Analytics organization. Innovation is key at CA, and our culture, as defined by our internal Mission & DNA, is one of innovation, customer-centricity, and collaboration. When it comes to hiring new employees, I look less at their technical skills because in our industry technology changes very fast. Instead, I ask: “Are they passionate about what they do? Are they customer-centric? Are they collaborative? Are they curious? And do they have the willingness to learn and grow?”</p> | <p>Artificial intelligence and robotics are the two things that will change the game in our industry and the world at large. In a succession planning discussion with my boss last year, he asked, "Who's your successor?" and I sent, in jest, a picture of a robot.</p> <p>I've been in technology for about 28 years now, and I have never seen a pace of change as rapid as I am seeing now. If you think back to the Hewlett-Packards and IBMs, why were they successful? Because they created something a customer valued. That measure of success hasn't changed.</p> <p>What has changed is the definition of value. We Baby Boomers used to value automation. There was a focus on productivity improvement, which was of value. But now, when I talk to my daughters, when I talk to the millennials, they value Snapchat or Instagram. The value system, and how long that value lasts, is fickle and rapidly changing.</p> <p>To be successful in this new millennial-driven market, companies must track their value system. It is not humanly possible to do that, due to our own internal biases. So, when it comes to artificial intelligence, it's not just about having data, analytics and insights - it’s about using that information to analyze: How are values changing, and thus how are buying patterns changing? How does that influence your products and services? The only way to do that is through artificial intelligence.</p> | <p>Start-ups are entirely focused on product innovation and creating products or services that solve people’s problems. Innovation is not an easy task, but it is simply easier to innovate when you are a start-up and don't have quarterly pressure to report performance to shareholders.</p> <p>Innovation must be customer-centric, and you should think about it as solving somebody's problem. To me, a perfect innovation strategy is when not only are you creating products and services that are absolutely moving the world in a new direction, but also satisfying shareholders and customers.</p> <p>I think two companies that are doing this successfully today are Tesla and Amazon. That is the magic sauce for innovation. </p> | Saum Mathur | View Edit Delete |
63 | <p>Bryony Winn is the Chief Strategy Officer for Anthem, Inc., a U.S. provider of health insurance. Anthem is the largest for-profit managed health care company in the Blue Cross Blue Shield Association. She is responsible for developing Anthem’s Enterprise strategy and growth plans, as well as continuing to expand Anthem’s focus on delivering innovative solutions to all stakeholders. Prior to Anthem, she was Chief Strategy and Innovation Officer for Blue Cross and Blue Shield of North Carolina. Before that, she was a partner in the Chicago office of McKinsey & Company.</p> | <p>I believe strongly that to successfully transform an organization to embrace and lead on digital innovation and change… you must ensure innovation is both <strong><em>everywhere</em></strong>… and <strong><em>somewhere</em></strong>. What I mean by this is that you must instill an innovation mindset within every nook and cranny of the organization... while also dedicating a full-time team to the ambition. If you only do the former, you risk the effort stalling due to weak ownership. If you only do the latter, you risk creating a silo, innovating in a vacuum and in a way that doesn’t make sense or isn’t embraced across your business.</p> <p>In sum, digital transformation requires a “yes, and…”not an “either/or” approach. You must drive cultural changes across the entire organization <strong><em>and </em></strong>set goals / launch dedicated initiatives within and owned by every single part of the business <strong><em>and </em></strong>build a team dedicated solely to driving innovation.</p> | <p>Innovation in healthcare... is hard. It is a highly regulated industry; has incredibly varied delivery systems across the world, limiting the spread of best practices and innovation; is dominated by large industry incumbents and significant barriers to entry for new players; and is unparalleled and high stakes – with lives potentially on the line when innovations don’t work.</p> <p>This has all contributed to digital innovation (and even adoption!) significantly lagging behind other industries. Compared to the digital transformations in other industries (think: the electric car, app-based food and grocery delivery, music streaming, etc.) the disjointed and often analog consumer experience within the healthcare system can feel archaic to consumers.</p> <p>I see my sector’s history of innovation paralysis, however, as a fantastic opportunity to leapfrog. And, this leapfrogging is well underway – new healthcare technologies (virtual care solutions, remote monitoring, AI algorithms to read chest X-rays, personalized medicine therapies… the list goes on) and advancements in data and analytics are transforming my industry at an unparalleled rate. This transformation has been accelerated by the COVID-19 pandemic, which placed intense and immediate pressure on my industry to respond. We rushed to develop vaccines, create virtual care options, and adapt our products and services to the “new normal.” COVID-19 has fundamentally changed my industry, and we will continue to invest in innovation to meet the demands of our time.</p> | <p>At my company, we are intensely focused on fostering an innovation culture and mindset in all of our employees. Equally important, however, are the organizational changes we are making to enable these culture changes and mindset shifts. We recognize that it is not enough to tell people to think creatively with an eye towards the future… you must also provide an environment that will enable and empower these changes. This means re-imagining the often long-ingrained processes and structures that can hold back innovation to create a more agile organization. At my company, this means re-designing everything from the way we measure and track our performance to the way we run our day-to day meetings, to the format of our materials and agendas.</p> | <p>I believe the acceleration of consumerism will be the defining force of the healthcare industry in the post-COVID-19 era. By this I mean so much more than consumers demandingmore user-friendly products. Rather, the “consumer voice” in healthcare, already influential, will grow and consumers will expect more of our industry than to simply provide healthcare services – they will demand <em>health</em>.</p> <p>They will demand <em>health</em> that is affordable – to meet the ever-increasing affordability challenges exacerbated by the COVID-19 epidemic (44% of US consumers reported not being able to pay a $1K medical bill).</p> <p>They will demand <em>health</em> that delivers chronic condition management, not just urgent care. (American consumers are aging rapidly, and this growing population has significant health needs, with over 2/3 of seniors living with more than 2 chronic conditions.)</p> <p>And finally, they will demand <em>health </em>inclusive of mental, not just physical care (as COVID-19 increases the prevalence and severity of already under-treated behavioral health conditions).</p> | <p>One of the pitfalls I’ve seen when an organization launches an innovation strategy is the “endless pilots” trap – meaning, they constantly incubate and test ideas, partnerships, and new technologies… but never bring anything to scale. The best innovation teams tackle this risk head on, continuously assessing their pipeline for promise of success and scalability, defining stage gates at which to evaluate their initiatives, and deploying strict criteria to evaluate impact. The result? The portfolio of initiatives become incredibly curated and purposeful; pilots without impact are sunsetted rather than stalled; and successful initiatives are implemented quickly and more broadly. These team are seen as a true incubators of the company’s future – rather than a lone-ranger team running wild with flashy, crazy, impractical ideas. </p> | Bryony Winn | View Edit Delete |
66 | <p>Bill brings over 30 years of experience in the communications and enterprise IT industries. He was CTO at SUMMUS Software. He served at Amdocs as a CTO of the Product Business Unit where he was responsible for the development of real-time customer experience platforms. Before joining Amdocs, Bill served as SVP of product planning and architecture at DST Innovis, where he was responsible for strategic technology platforms, product management and pre-sales for the cable, broadband and satellite industries. Bill is also known for designing and hand crafting custom furniture, as well as for his skills on the shooting range.</p> | <p>Everyone is talking about AI. The difference for Serviceaide is that we introduced AI into production all the way back in 2017. Our approach is also different in that we are focused on an AI-First approach. This means that our team considers how AI can take the operational lead in managing and automating routine requests and work tasks as we design and build systems; we don’t just add in AI where it’s easy. The industry will still need people, but Serviceaide is helping to shift their focus to more strategic, high value work. This will result in increased productivity and efficiency.</p> | <p>Technology is evolving quicky, in some cases daily. Take for example, Large Language Models, we have shifted our approach to monthly in order to maximize performance from the best model. For many customers, it's hard to keep up with the pace of innovation which makes having both the knowledge and maturity to consider the benefits of new technology in their DevOps and overall planning incredibly important. One example is examining how to make Ai driven automation work with legacy systems, and implement the changes required. To this end, Serviceaide is often introducing innovation and becoming an advisor on Digital Transformations to many of our clients.</p> | <p>Bringing innovation to Service Management is our company and departmental mission. The development team is passionate about leveraging emerging technologies to maximize worker productivity. Our service and support vertical extends from IT to potentially all departments of an organization. This passion for what AI can do touches everyone in the company from development to support to marketing and sales. When you have those “ah ha” moments and see all the ways the technology can be applied, it really motivates the team to drive even harder and naturally fosters creativity.</p> | <p>I see the issue as how a company adopts the newer technologies that either automates routine labor-intensive tasks or provides a boost to employees that must spend a lot of time searching for and working with information. Generative AI is certainly the biggest news at the moment, and everyone is rightly looking to capitalize on it, or be a victim of their competitors that do. But it can be scary to add something completely different that is not well understood and comes with risk if not leveraged properly. The great news is that Serviceaide and others are bringing new solutions to the market that will drive digital process transformation - not AI for AI’s sake but AI that solves real problems and makes quantifiable improvements that go straight to the bottom line. My advice is to look for solutions that have designed an AI strategy into the product, have a clear vision and roadmap, and can show true ROI. Too many vendors are looking for quick wins with AI, and they are very likely to create unsustainable architectures and have a lot of churn in their product as a result.</p> | <p>Knowledge federation is really making a difference for a lot of bigger enterprises that suffer from having information scattered all over the place. Many organizations have one place to store personal information such as One drive or One Note, another tool to collaborate with your team, another system to get IT help, another to ask HR questions, yet another for internal business procedures and operations, and then a whole different set of systems that provide online training. Collaboration, operational and departmental and training systems being disconnected is a chronic problem for organizations. By pulling all this disparate information together, via knowledge federation, employees can find what they need from one source. Employing a good AI-based interface that can make inquires in natural language rather than using keywords or navigating to where the information is a productivity game changer.</p> | Bill Guinn | View Edit Delete |
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