44% strategic initiatives over last 3 years were not successful - http://www.chaordicsolutions.co.uk/blog/from-our-strategy-implementation-consultants/44-strategic-initiatives-over-last-3-years-were-not-successful/

http://www.chaordicsolutions.co.uk/blog/from-our-strategy-implementation-consultants/44-strategic-initiatives-over-last-3-years-were-not-successful/

44% strategic initiatives over last 3 years were not successful: PMOs play key role for implementation success.

 

Extract from PMI PMO Thought Leadership:

Its title, tasks and structure tends to vary, but its role is increasingly important and clear: the PMO is the engine that gets things done in organizations.  Widely known as a home for best practices and implementation of project and program management, today’s PMO has a key role in strategic success.

PMI is looking in-depth at PMOs as enablers of organizational change, logically suited to convert the energy of ideas into the currency of competitive advantage.

Why good strategies fail: Lessons for the C-suite is a report from the Economist Intelligence Unit, sponsored by PMI.

Senior executives recognize that strategy implementation is essential to competitiveness, but a majority admits to poor performance in this area.  Unfortunately, many executives ignore the problem.  Our report uncovers a range of steps to successfully manage this situation.  It examines the spectrum of opportunities connecting strategy to implementation, including the establishment of PMOs and other enablers of change and success.

© 2013 The Economist Intelligence Unit Ltd.

More … http://www.pmi.org/Knowledge-Center/PMO-Thought-Leadership.aspx

Reputational risk is most challenging category of risk to manage - http://www.chaordicsolutions.co.uk/blog/from-our-risk-management-consultants/reputational-risk-is-most-challenging-category-of-risk-to-manage/

http://www.chaordicsolutions.co.uk/blog/from-our-risk-management-consultants/reputational-risk-is-most-challenging-category-of-risk-to-manage/

Reputational risk is most challenging category of risk to manage: top ten tips for managing them.

 

Extract from ACE European Group Press Release:

92% of companies believe that reputational risk is the most challenging category of risk to manage, according to a major new study from ACE Group conducted across 15 countries within its EMEA (Europe, Middle East and Africa) region.

ACE’s report, ‘Reputation at Risk’, published today, is the latest in its series of EMEA Risk Briefings examining new and emerging risks. It reveals that while 81% of companies in the survey see reputation as their most significant asset, most of them admit that they struggle to protect it and identifies a number of key reasons why companies in the region often find reputational risk challenging to manage:

- 77% of companies find it difficult to quantify the financial impact of reputational risk on their business, making it harder to measure than traditional, more tangible risks.

- 68% of companies believe information and advice about how to manage reputational risk is hard to find, compounding the sense of uncertainty and confusion about how best to manage it.

- 66% of companies feel inadequately covered for reputational risk from an insurance perspective.

- 56% of companies say social media has greatly exacerbated the potential for reputational risk to affect their business.

The report also proposes a number of solutions to adopt, including:

- Companies need a clear framework for managing reputational risk. Effective management of ‘traditional risks’ will help avoid reputational events, and management teams need to put in place a culture and instil a risk appetite across the company that will reduce the potential for crises to emerge in the first place. In addition, taking a multi-disciplinary approach that involves the CEO, PR specialists and other business leaders will also help to build the broader perspective that is necessary for identifying and managing less obvious reputational risks.

- Companies should work harder at measuring how their reputation is perceived. Understanding perceptions of key stakeholders, their interplay and their impact on corporate reputation, is essential for tracking and managing reputational risk effectively. Companies must ensure that they are collecting an “outside-in” perspective to complement their own internal perspective.

- Companies should sharpen up their crisis management plans to keep pace with today’s faster-moving world. Our research suggests that many companies may be over-confident in their abilities to respond to a crisis. Regular review and testing – including the incorporation of social media scenarios – will allow a faster response when disaster strikes.

- The insurance market can do more to help companies manage reputational risk. This includes the provision of more holistic solutions that include crisis response assistance. It also includes helping companies to take a ‘reputational lens’ to more traditional risks to evaluate the reputational consequences in each case.

Andrew Kendrick, President, ACE European Group, said:

“Reputational risk can be difficult to predict. However, some clear pointers emerge from our research as to the source of companies’ key worries. One of these is the globalisation of business, with complex supply chains, expansion into new markets and the challenge of maintaining consistent standards across multiple borders all giving cause for concern. The other noticeable theme is regulation. Post-crisis, compliance has taken on a new importance and businesses of all shapes and sizes are more keenly aware of its relationship to their corporate reputation.

“Insurance is not a panacea for the fast-evolving world of reputational risk. Nevertheless, I believe there is much that insurers and brokers can do collectively to help their clients. This includes the evolution of new more holistic insurance solutions that involve the input of crisis and PR specialists. More generally, professional risk engineering can help to improve risk management processes and governance, allowing clients to manage the more ‘traditional risks’ better and reducing the likelihood of a reputational event in the first place.”

To view the full report ‘Reputation at Risk’ along with ‘top ten tips’ for managing reputational risk, please visit www.acegroup.com/eu

More … http://www.acegroup.com/eu-en/media-centre/details.aspx?article=/eu-en/Home/Assets/news/20130723005710en.html

Lack of ethical imperatives across EU and member states - http://www.chaordicsolutions.co.uk/blog/from-our-governance-consultants/lack-of-ethical-imperatives-across-eu-and-member-states/

http://www.chaordicsolutions.co.uk/blog/from-our-governance-consultants/lack-of-ethical-imperatives-across-eu-and-member-states/

Lack of ethical imperatives across EU and member states: Corporate Governance legislation should include more ethics.

 

Extract from recent Institute of Business Ethics Press Release:

Questions of ethics, or the ‘right way to run a business’, are inherent in all aspects of corporate governance, including the way the board conducts itself.  Ethical choices are relevant to the business strategies that boards pursue and the way that they direct and structure the business to achieve them.

A new report – A Review of the Ethical Aspects of Corporate Governance Regulation and Guidance in the EU recently published by the Institute of Business Ethics, in association with ecoDa, the European Directors’ Association, examines corporate governance policy debates and frameworks.  Its findings draw attention to a notable lack of explicit reference to ethical imperatives, and so raise questions about why this is the case, whether this should be addressed and how.

This Occasional Paper explores the extent to which, in legislation, frameworks and codes for corporate governance across the EU and within its member states, there are explicit statements or requirements for business to be governed in line with ethical principles or commitments.

Julia Casson, author of the report, said: “We began this report wanting to understand whether there was guidance for companies in governance policies, at national and EU level, on ethical business practice.  Although we did find similarities in corporate governance requirements around practice and certain issues, there seems to be a general lack of ethical language in corporate governance provisions.  This is in spite of the fact that boards are expected to set the values which will guide their company’s operations.”

For some key governance issues that boards have been expected to address, the explicit driver is most often given in terms of what is ‘good for business’ rather than engagement with any moral imperative.  This is the case even though what is generally viewed as unethical behaviour, including at the most senior levels, has led to business failure on numerous occasions.  The link has yet to be explicitly made in corporate governance discourse that what is ethical is very often good for business, or at least that what is unethical generally impacts negatively on business.

At the member state level, the beginnings of a greater focus on board behaviour and conduct can be seen, especially in guidance for directors.  Some governance codes contain ‘various rules of conduct’

( i.e. commitment, leadership, discretion, independent judgment, integrity, acting in the corporate interest and acting in the interests of stakeholders) and refer to behaviours required by boards.

Patrick Zurstrassen, Chairman of ecoDa said: “The purpose of governance can be said to be to encourage companies to make robust decisions, manage risk properly and account to those that provide their capital.  To complete this approach, it is essential to get individual board members with a great sense of ethics and a collective mindset in line with the company’s values”

Philippa Foster Back OBE, Director of the IBE said: “Attention to ethics is increasingly a core feature of boardroom agendas.  Many companies recognise business ethics, sustainability and social responsibility, and also boardroom ethics, as characterising the right way to run a business as well as being essential for long term success.  This is in spite of the apparent lack of explicit engagement at EU level with ethical principles in corporate governance guidance, and the limited requirement, or indeed encouragement, that boards operate with high ethical standards,.”

For further information, contact Philippa Foster Back, IBE Director: +44 (0)20 7798 6040  info@ibe.org.uk

More … http://ibe.org.uk/userfiles/pressreleases/corpgovineu.pdf

 

Recent research identified five success factors for PPM effectiveness - http://www.chaordicsolutions.co.uk/blog/from-our-portfolio-management-consultants/recent-research-identified-five-success-factors-for-ppm-effectiveness/

http://www.chaordicsolutions.co.uk/blog/from-our-portfolio-management-consultants/recent-research-identified-five-success-factors-for-ppm-effectiveness/

Recent research identified five factors for PPM effectiveness: can be used in any organisation to increase success.

 

From Robert J Toogood, Senior Partner – Chaordic Solutions:

Recent research from project management researcher-practitioners at Pennsylvania State University and the Stevens Institute of Technology … Dr Peerasit Patanakul, Dr Audrey Curtis, and Brian Koppel, MBA PMP, has identified five factors that contribute to Project Portfolio Management (PPM) effectiveness.  These factors are:

1. Formal strategic planning and capital budgeting;

2. Organisational entities responsible for project and portfolio management, and their organisational placement;

3. Frameworks and processes for project portfolio management and information systems support;

4. Organisational culture;

5. Committed, active and competent participants.

These success factors were identified following detailed research conducted inside five different organisations in which they were given unique, privileged access to detailed project documentation and key stakeholders.  This enabled them to create a evidence based definition of project portfolio management effectiveness that can be applied to any organisation.

More … http://www.pmi.org/en/Knowledge-Center/Research-Completed-Research/Effectiveness-in-Project-Portfolio-Management.aspx

Research confirms value of creating risk-aware and open communication culture - http://www.chaordicsolutions.co.uk/blog/from-our-change-management-consultants/research-confirms-value-of-creating-risk-aware-and-open-communication-culture/

http://www.chaordicsolutions.co.uk/blog/from-our-change-management-consultants/research-confirms-value-of-creating-risk-aware-and-open-communication-culture/

Research confirms value of creating risk-aware and open communication culture: risk function just guides and educates.

 

Extract from airmic News:

Research finds that resilient firms are those that eliminate internal barriers. Resilient companies do not depend solely on processes or compliance; they create an environment where everyone is risk-aware and barriers between senior managers and their staff are reduced to a minimum. That is one of the main findings of ‘Roads to Resilience’, a report being produced by Cranfield Business School on behalf of Airmic.

Researchers investigated eight firms that have either managed to ride crises successfully or have avoided them altogether. Just as Darwin discovered that the most adaptable, not necessarily the strongest species survive, ‘Roads to Resilience’ found that the most durable firms are those that can respond rapidly and effectively to changing circumstances.

In order to do so, businesses should create a culture where all staff are risk-aware and feel able to pass on their knowledge and views (even bad news!) to senior management. The role of the formal risk function is to guide and educate colleagues rather than to create a silo labelled ‘risk management’.

‘Roads to Resilience’ follows the highly acclaimed ‘Roads to Ruin’, which investigated the factors behind corporate failure. Published in 2011, the first research identified ‘risk glass ceilings’ as a recurrent problem, where vital information known elsewhere in the organisation never reached senior management or the board.

By contrast, ‘Roads to Resilience’ finds that the glass ceiling is absent in successful companies, and staff communicate easily with those at the top, acting as their radar. To achieve this, senior managers need to engage with their staff, earning respect by listening and experiencing what it is like to work in the company.

“At Jaguar Land Rover, senior executives spent half their time walking the shop floor, instead of sat in front of their computers in ivory tower offices. There has to be strong trust and people have to respect and be respectful of the people leading them,” said Dr Stephen Carver of Cranfield Business School.

To quote the chief operating officer of Virgin Atlantic: “The executives sit in open-plan offices, and we are not on the top floor – we just happen to be in one corner on the second floor. People know where we are, we immerse ourselves in the business, and they can come and talk to us.”

“The key message in this report is that culture enables resilience, and that culture comes from the top,” said Airmic chief executive John Hurrell. “Board members need to lead the way, not by lecturing their people but through example and connecting with them, by being approachable and willing to listen.

“It also represents a great opportunity for risk managers who, by virtue of their job, often have a broader knowledge of their companies than anyone else. They are ideally placed to facilitate the development of a corporate culture where everyone owns the risk management process.”

Airmic has published the main findings in an executive briefing ahead of the full report, which is due to come out in September. It is based mainly on interviews with executives at eight companies: American International Group(AIG); Drax Power Station; InterContinental Hotels Group; Jaguar Land Rover; Olympic Delivery Authority; The Technology Partnership; Virgin Atlantic, and Zurich.

The project is sponsored by Lockton, Crawford and PwC.

More … http://www.airmic.com/news-story/research-finds-resilient-firms-are-those-eliminate-internal-barriers?

© Airmic 2013

 

Value from redefining innovation for success - http://www.chaordicsolutions.co.uk/blog/from-our-business-transformation-consultants/value-from-redefining-innovation-for-success/

http://www.chaordicsolutions.co.uk/blog/from-our-business-transformation-consultants/value-from-redefining-innovation-for-success/

Value from redefining innovation for success: leveraging existing assets, competitive advantages and familiarity.

 

Extract from European Business Review – Patrick Barwise & Seán Meehan

Don’t be overawed by Apple – your company too can innovate beyond the familiar. This isn’t about “blue-sky thinking”, “blue ocean strategy” or pioneering completely new-to-the-world product categories: Apple doesn’t actually do that. It’s about being a user-focused fast follower and a relentless improver. Every company can successfully innovate beyond the familiar, although it does mean being willing to go beyond your comfort zone. We offer a general framework to help you do it.

More … http://www.europeanbusinessreview.com/?p=6409

© 2013 The European Business Review | All Rights Reserved.

Ten steps to help you survive and prosper from economic uncertainty - http://www.chaordicsolutions.co.uk/blog/from-our-portfolio-management-consultants/ten-steps-to-help-you-survive-and-prosper-from-current-economic-uncertainty/

http://www.chaordicsolutions.co.uk/blog/from-our-portfolio-management-consultants/ten-steps-to-help-you-survive-and-prosper-from-current-economic-uncertainty/

Ten steps to help you survive and prosper from economic uncertainty: using power of chaos for creativity and growth.

 

From Robert J Toogood, Senior Partner – Chaordic Solutions:

The world is changing faster than people are able to adapt to it … and if left unmanaged, this can result in organisational meltdown and ultimately, failure.

However, whilst this form of chaos brings uneasiness, it can also be used as a powerful catalyst for creativity and growth.

A few years ago, McKinsey published the results from a Global Survey into how companies make good decisions.  They highlighted several process steps that are strongly associated with good financial and operational outcomes.  In the survey, they asked executives from around the world about a specific capital or human-resources decision their companies made in the course of normal business.

The results emphasise the hard business benefits, such as increased profits and rapid implementation, of several decision-making disciplines – these include ensuring that people with the right skills and experience are included in decision making, making decisions based on transparent criteria and a robust fact base, and ensuring that the person who will be responsible for implementing a decision is involved in making that decision. Finally, although corporate politics sometimes seems to undermine strong decision making, some types of consensus-building and alliances apparently can help create good outcomes.

In the current economic climate, it is critical that organisations urgently review what they are doing and why they are doing it … to revalidate and review the relationship between their business strategy and tactical execution plans.  One approach that enables this to be easily achieved and meets the McKinsey criteria is a well-proven technique known as Project Portfolio Management (PPM). 

Using PPM you can re-prioritise the focus of your activities.  Obviously, this requires your business strategy to be current and up-to-date; if it is not, then this is a great opportunity to update it.  PPM enables you to maximise benefits from your project investments, because all activity is much more tightly aligned to your business strategy.  In doing this, the chaotic change associated with economic uncertainty can be brought back under control, by managing the inevitable ambiguity and complexity of the modern-day business environment with the use of effective communication.

Some projects may no longer be needed, so can be deferred or even cancelled.  However, other projects will still be needed to ensure the business can survive and emerge much more strongly from the dark months of economic uncertainty.  But none of this decision making should overlook the importance of compliance related activities that will still be needed and ideally already be embedded within the cultural veins of the organisation.

The following ten step check-list can be used to help you navigate through these challenging times and to refocus your activities for success. 

STEP 1:
Review and update your business strategy 

Is your strategy up-to-date and reflecting current business focus?  Make sure it is updated and owned by senior Management, and not by external consultants.  It should include tangible measures such as 10% more market share.  Use business investment not project related terminology.

STEP 2:
Communicate updated strategy and re-energise your business 

Does everyone know what they need to do within their own functional area to support your strategy and make it happen?  Ensure strong links between business strategy and tactical execution plans.  Rigorously and continually search out new value-adding opportunities for IT to add value to the business.

STEP 3:
Create inventory of your current projects and resources/capabilities 

What are all the different things you are working on and with what resources?  Make sure you include all resources associated with these projects including internal and external as well as chargeable and non-chargeable.

STEP 4:
Reconcile project inventory against your business strategy using selection criteria/priorities 

How do your current project activities relate to your updated business strategy, and in what way do they contribute towards this by adding value?  Be honest and ruthless.

STEP 5:
Make better tactical decisions using outcome from your reconciliation

Which of your projects should be cancelled, continued with, reintroduced or escalated?  Only proceed with projects that still add real value and enable the business to survive and grow.  Make sure the associated business cases are robust and well explained in terms that business ie non-IT people can understand.

STEP 6:
Prepare and implement your communication plan 

Does everyone know what you are now doing, and what is expected of them?  Use different approaches and media to ensure effective communication so that ambiguity and complexity are kept well under control.

STEP 7:
Enhance or set-up your Project Management Office (PMO)

How do you track the progress and activity of your projects?  Identify projects that need attention; see which projects have slowed down or haven’t had much work put into them. Are they still a priority? If not, reallocate resources and attention to more pressing needs.

STEP 8:
Refine your approach to project execution 

Do you build “collaborative capacity” through relationships, trust and knowledge exchange?  Intensify competition between internal teams.  Don’t cut back on meetings.  Meetings are more important than ever for brainstorming and firing up team members’ creativity.  Build new teams.  Business pull-backs are excellent times to pursue new ideas and projects and get them on the drawing board.  Don’t cut travel and insulate team members.  Get them out in the world and exposed to new thinking.  Encourage risk-taking.

STEP 9:
Embed PPM approach within your day-to-day business activities

Are you using PPM on a regular basis, and that resulting decisions/action are accurately focused on the real needs of your business?  If not, take steps to make sure PPM related processes are transparently integrated into day-to-day activities.

STEP 10:
Finally, keeps things in perspective! 

No matter what happens to the economy, there is going to be change, though it doesn’t have to be a traumatic process.  Most of these external changes are out of your control but we can always control our reaction and attitude to them.  Help your employees take ownership of their attitude and reaction to change.

If you would like to discuss any aspect of this topic in more detail or if you have any queries about what is needed … contact our Senior Partner, Robert J Toogood on +44 (0)1983 617241 or via email at robert_toogood@chaordicsolutions.co.uk to schedule a session, on a non-obligation and confidential basis.

More … http://www.chaordicsolutions.co.uk/services.html

 

Leadership models must change to reflect social nature of organisations - http://www.chaordicsolutions.co.uk/blog/from-our-business-transformation-consultants/leadership-models-must-change-to-reflect-social-nature-of-organisations/

http://www.chaordicsolutions.co.uk/blog/from-our-business-transformation-consultants/leadership-models-must-change-to-reflect-social-nature-of-organisations/

Leadership models must change to reflect social nature of organisations: people often disengaged, disenfranchised and distrusting.

 

Extract from Management Innovation eXchange - Dan Pontefract:

In 1973, Peter Drucker stated in his book Management: Tasks, Responsibilities, Practices, “Management is not culture-free, that is, part of the world of nature. It is a social function. It is, therefore, both socially accountable and culturally embedded.”

Tom Peters some thirteen years later in an article, Managing As Symbolic Action, remarked: “It requires us, as managers, to get people to share our sense of urgency in new priorities; to develop personal, soul-deep animus toward things as they are; to get up the nerve and energy to take on the forces of inertia that bog down any significant change program.”

Yet, here we are in 2013 with organizational leadership models that continue to deny the social nature of organizations and wallow in inertia.

Our leadership practices remain authoritative. People are disengaged, distrusting and perhaps even disenfranchised.

According to the 2013 Edelman Trust Barometer, less than 20 percent of respondents believe leaders are actually telling the truth when confronted with a difficult issue in their organizations. Furthermore, a study conducted by the Human Capital Institute and Interaction Associates in 2013 found only 34 percent of organizations had high levels of trust in the places they work. Furthermore, a paltry 38 percent reported their organizations had effective leadership running the show.

To cap off a small sliver of dismal data points, research firm Gallup found that over a twelve-year period between 2000 and 2012 the percentage of engaged employees in the workforce has shifted between 26 percent and 30 percent. That is, roughly 70 percent of employees in today’s organizations have spent more than a decade essentially collecting a pay check, an almost Shakespearean spectacle of tragic ambivalence.

What if our approach to leadership was to evolve into Drucker’s vision of “socially accountable and culturally embedded” management?

Cam Crosbie is the CIO of Equitable Life Insurance Company of Canada, represented by more than 10,000 independent producers across Canada and Bermuda. Cam completely understands the need to “lead without authority.” He does so, quite simply, by asking questions rather than barking orders. Before moving forward with a big decision or a large project, Cam makes a practice of asking lots of questions, including, as he says, “even the so called ‘dumb ones’”.

As a CIO, Cam believes it’s important to reach out to others and inquire before pushing ahead. Cam said, “I hope that in some small way if people see the CIO unashamedly asking the simple questions, it clears the way for clearer and more meaningful discussion.” Perhaps the first step toward a better future for your organization is to acknowledge that you don’t necessarily know the way there—and, just as important, to understand that by asking questions, you not only awaken and engage people, you stand to collect more valuable perspective and ideas than you would by starting from a position of authority.

Leadership isn’t a 9-5 job—it’s communal, it’s holistic and it’s accretive. It’s time to abandon the long-held notion that the “leader” knows all and should decide everything. A fancy title doesn’t put you above others—it puts you in their service.

TELUS, a national telecommunications company in Canada, with $11 billion of annual revenue and over 40,000 employees worldwide (and where I am head of learning and collaboration), has worked incredibly hard over the past five years to raise employee engagement from 53 percent to 80 percent. It did so through myriad actions including the launch of the TELUS Leadership Philosophy. The TLP is an enterprise-wide leadership framework that cultivates a collaborative, social, open and engaging mindset among all employees regardless of rank or title. It encourages all employees to “engage and explore” with one another before “executing.” It defines key behavioral attributes such as communicating, collaborating, learning, deciding and adapting such that everyone can speak the same leadership language.

In mid-2010, an internal program was born at TELUS entitled Customers First. The overarching goal of the program was to improve the likelihood that  TELUS customers would recommend the company. As the program began to gain traction, another idea surfaced: Customer Commitments. Think of the commitments as customer promises—specific actions that any TELUS team member would carry out to help a customer regardless of role.

Instead of locking its most senior executives in a room to decide what the Customer Commitments were going to be for the organization, we designed a collaborative process that involved the entire organization. Over 1,000 different examples surfaced over a two-month period. Through focus groups, interactive online polling and voting, the 1,000 were whittled down to a final four.

If the culture at TELUS was one that relied on authoritative leadership, the Customer Commitments would have been created in a couple of hours by a few authoritative leaders. Because the culture was healthy, open and participative as opposed to dogmatic and ruthlessly hierarchical, the organization collaborated without authority. This is the work of leadership today: asking questions, involving people, connecting them to each other, creating a platform for their insights and ideas to make a real impact—in other words, unleashing leadership behavior everywhere.

In this moment of reflection, as we seek to redefine the work of leadership, let us remember the words of  Nelson Mandela:

“[Ubuntu is] the profound sense that we are human only through the humanity of others; that if we are to accomplish anything in this world it will in equal measure be due to the work and achievements of others.”

If you’re lonely at the top, it’s time to start recognizing and amplifying the contribution of those around you.

Dan Pontefract is the author of Flat Army: Creating a Connected and Engaged Organization and is the Head of Learning and Collaboration at TELUS.

More … http://www.managementexchange.com/blog/rethinking-work-leadership?

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License.

 

Using wisdom networks to achieve rapid jump in productivity and growth - http://www.chaordicsolutions.co.uk/blog/from-our-business-transformation-consultants/using-wisdom-networks-to-achieve-rapid-jump-in-productivity-and-growth/

http://www.chaordicsolutions.co.uk/blog/from-our-business-transformation-consultants/using-wisdom-networks-to-achieve-rapid-jump-in-productivity-and-growth/

Using wisdom networks to achieve rapid jump in productivity and growth: leveraging wisdom and effort of crowds.

 

Extract from Management Innovation eXchange – Marcus Cake:

Facebook reduced social interaction to books of “things” that could shared with anyone, everywhere and restructured global social time and attention and achieved global transparency and meritocracy in less than 10 years. Wisdom Networks are an open source platform that defines things, books, process and outcomes for complex communities and can be deployed within 90-180 days. Wisdom Networks will reduce organisations, industries and society to books that can be shared with anyone, everywhere, anytime and transform the remainder of society within 2-5 years. The change in person to person communication crowd creates the next stage of economic development – distributed prosperity. 

A Wisdom Network is an “Over the Top” platform that organises the wisdom and effort of crowds across the organisation, industry and society. Wisdom Networks leverages the Internet of Everything (IoE) by linking “things” to reveal knowledge, sharing books of things to share knowledge and organising action toward optimal outcomes. Any complex communities can be reduced to six types of “things” and a few simple interactions which can be managed by wisdom networks.

 

More … http://www.managementexchange.com/hack/wisdom-networks-crowd-create-leadership-productivity-growth-everywhere

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License.

Time to view uncertainty and change as opportunities not threats - http://www.chaordicsolutions.co.uk/blog/from-our-change-management-consultants/time-to-view-uncertainty-and-change-as-opportunities-not-threats/

http://www.chaordicsolutions.co.uk/blog/from-our-change-management-consultants/time-to-view-uncertainty-and-change-as-opportunities-not-threats/

Time to view uncertainty and change as opportunities not threats: leverage future uncertainty by embracing risk.

 

From Robert J Toogood, Senior Partner – Chaordic Solutions:

Change management remains an integral part of what is needed to achieve successful business transformation … but without addressing the softer, people related aspects/challenges experience shows it is not possible to bring about long lasting alignment changes. 

But change management needn’t be complicated.  Sometimes, the most startling effects can be achieved by going back to basics and reminding ourselves of what we are really trying to achieve, before getting all tangled-up with methodologies and models.

Our real-life experience shows that one of the softer issues/challenges often associated with change is uncertainty … this generates lack of business confidence, which limits investment made in innovation and therefore growth, which in turn creates weaker economic conditions that then potentially threaten us with recession if not addressed.

So uncertainty – what is it and should we fear it, or have we naively believed in the past that we could control the future?  Uncertainty generates lack of business confidence, which limits investment made in innovation and therefore growth … which in turn creates weaker economic conditions that then threatens us with recession.

Over the last few years the majority of us have clearly been taken by surprise – events have occurred locally and globally that we did not predict.  These unexpected, rare events are described as Black Swans by Nassim Nicholas Taleb in “The Black Swan: The Impact of the Highly Improbable” and specifically as “a highly improbable event with three principal characteristics: It is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was”.  For years, Taleb has studied how we fool ourselves into thinking we know more than we actually do.  “We restrict our thinking to the irrelevant and inconsequential, while large events continue to surprise us and shape our world.”

So we need to change the way we think and therefore view things like uncertainty and change.  As Dr David Hillson says in his book “Exploiting Future Uncertainty: Creating Value from Risk”, “whatever the future holds, one thing is sure: nothing is certain except uncertainty.  Prediction is always hard, especially about the future, but the biggest risk is not taking any risk at all.  All businesses face significant levels of uncertainty these days.  To succeed you need to exploit future uncertainty, turning it to your advantage by managing risk effectively”.

We can help you to leverage these opportunities by embracing this uncertainty … book a free, introductory consultation call to discuss your immediate challenges on a non-obligation and confidential basis – simply call us on +44 (0)1983 617241 to set something up.

More … http://www.chaordicsolutions.co.uk/services.html

IRM GRC SIG event on 25 July has implementation barrier focus - http://www.chaordicsolutions.co.uk/blog/irm-grc-special-interest-group/irm-sig-event-on-25-july-has-implementation-barriers-focus/

http://www.chaordicsolutions.co.uk/blog/irm-grc-special-interest-group/irm-sig-event-on-25-july-has-implementation-barriers-focus/

You can now book your place for the next IRM GRC SIG event on 25 July at http://irmgrcsigjuly13.eventbrite.co.uk

 

The main focus of this session is to reflect on what we have discovered so far, and to discuss in more detail what we now think the barriers are to implementing a more coordinated approach to GRC.

IMPORTANT: as this session is being kindly hosted in the new Canary Wharf offices of Shell, it is essential for security reasons that if you intend to attend the event in person that you book your place by no later than 17:00 UK time on Monday, 22 July 2013: http://irmgrcsigjuly13.eventbrite.co.uk; the deadline for booking virtual tickets (for participation by Audio and WebLink) is 48 hours later at 17.00 UK time on Wednesday.

I sincerely hope you can participate in the session, either in person or virtually. In the meantime, if you have any queries or questions about this event or any other aspect of our SIG activities then do not hesitate to contact me.

Best Wishes, Robert
Chair, IRM GRC SIG

Email: robert_toogood@chaordicsolutions.co.uk

NEWSFLASH: Our Senior Partner, Robert J Toogood, just been awarded MSc in Risk Management (Distinction) - http://www.chaordicsolutions.co.uk/blog/news/newsflash-our-senior-partner-robert-j-toogood-just-been-awarded-msc-in-risk-management-distinction/

http://www.chaordicsolutions.co.uk/blog/news/newsflash-our-senior-partner-robert-j-toogood-just-been-awarded-msc-in-risk-management-distinction/

NEWSFLASH: Our Senior Partner, Robert J Toogood, has just been awarded a MSc in Risk Management (Distinction), fantastic independent endorsement of his significant real-life experience/expertise gained over twenty-five years in the areas of governance, risk management and compliance … visit his companion site to see how he can help you overcome your current challenges.

More … www.robertjtoogood.com - currently optimised for normal laptop/desktop viewing, but will be made more mobile-friendly over the coming months.

 

Importance of people-orientated approach for managing M&A change - http://www.chaordicsolutions.co.uk/blog/from-our-ma-consultants/importance-of-people-orientated-approach-for-managing-ma-change/

http://www.chaordicsolutions.co.uk/blog/from-our-ma-consultants/importance-of-people-orientated-approach-for-managing-ma-change/

Importance of people-orientated approach for managing M&A change: culture and communication must be priority actions.

 

From Robert J Toogood, Senior Partner – Chaordic Solutions:

As we have heard many times recently, revenue and growth is very important for our future survival … this can be achieved in a variety of different ways.   One such way is to embark upon a Business Transformation programme, another is to merge with or acquire a complementary or even a competitor company.

A recent survey report from Deloitte shows how mergers and acquisitions (M&A) can help drive revenue and growth … in this report, the view is shared that as the economic recovery continues, albeit slowly, they expect companies in many industries to rely increasingly on M&A to help drive revenue growth and bottom-line performance.  Survey results show that 52% of executives interviewed expect M&A to add more than 5% to revenue growth on a compound annual basis over the next two to five years.  This is significant when compared to average annual revenue growth of the S&P 500 of approximately 4% over the past 10 years.

The results from another survey, this one from McKinsey, show that in spite of the difficult economy, most executives still think M&A is an important strategy for growth.  In fact, nearly half of the respondents expect their companies to explore more deals in the next 12 months than the previous 12 months, and small majorities expect them to start or complete at least as many, if not more.

However, history shows that the majority of mergers and acquisitions fail to deliver the originally expected benefits and value.  So why is this so?  There have been many surveys and studies that have attempted to understand these underlying reasons; people related challenges tend to dominate the findings.  This therefore emphasises the importance of taking a more people-orientated approach to managing change within these situations, making sure things like culture and communication are properly addressed as priority actions.

We can help you address these challenges effectively so you can ensure you are one of the 20% of organisations that are able to succeed in delivering the original expectations for the deal … book a free, introductory consultation call to discuss your immediate challenges on a non-obligation and confidential basis – simply call us on +44 (0)1983 617241 to set something up.

More … http://www.chaordicsolutions.co.uk/services.html

Benefit from quick access to world class management consultancy expertise, as and when YOU need it - http://www.chaordicsolutions.co.uk/blog/news/benefit-from-quick-access-to-world-class-management-consultancy-expertise-as-and-when-you-need-it/

http://www.chaordicsolutions.co.uk/blog/news/benefit-from-quick-access-to-world-class-management-consultancy-expertise-as-and-when-you-need-it/

Benefit from quick access to world class management consultancy expertise, as and when YOU need it; introducing our new innovative CHAORDIC PILOT™ Service.

Sometimes organisations and people need extra help with adapting to our constantly changing and uncertain world, to overcome a particular challenge … and this is where our new CHAORDIC PILOT™ Service can assist.

For over 25 years we have been helping senior executives cope with the organisational change aspects of governance, risk management and compliance, in diverse organisations right across the world  … quite often as part of a regional European or global team.

 

Our new CHAORDIC PILOT™ Service is:

Flexible - enabling you to move away from the rigidity and prescriptive behaviours of more traditional support services … enjoy complete flexibility to change and adapt in line with your changing needs and goals.

Responsive – protecting you from cold, impersonal and overtly commercially driven arrangements … benefit from an ongoing relationship with someone you trust, that wants to passionately help with your business and its challenges, and can respond quickly to leverage upon this when needed.

Manageable – allowing you to be in control of the level of support you need … together we manage your service via regular review sessions during which we look at how things have gone, confirm or refine areas of focus and agree next steps/actions for the coming period.

 

We tailor your CHAORDIC PILOT™ Service to meet your unique, specific requirements …covering whatever you need from one or more of our key focus service areas of SUPPORT, IMPLEMENT, REVIEW, RESCUE and RESEARCH.

You then secure this commitment from us and simply call off against it, as and when you need it.

 

NEXT STEPS

Contact our Senior Partner, Robert J Toogood on +44 (0)1983 617241 or via email at robert_toogood@chaordicsolutions.co.uk to schedule a call to discuss your immediate challenges on a non-obligation and confidential basis … so together we can start to structure your very own personal CHAORDIC PILOT™ Service to help you meet them.

 

Eight ways to make change work - http://www.chaordicsolutions.co.uk/blog/from-our-change-management-consultants/eight-ways-to-make-change-work/

http://www.chaordicsolutions.co.uk/blog/from-our-change-management-consultants/eight-ways-to-make-change-work/

Eight ways to make change work: ways to avoid being one of the 70% of change initiatives that fail.

 

Extract from Knowledge@Wharton:

Studies put the failure rate of organizational change at 70% or higher. Yet, managers face increasing pressure to implement change to meet short- and long-term goals. Gregory P. Shea and Cassie A. Solomon share their approach to dealing with this challenge in Leading Successful Change: 8 Keys to Making Change Work. Jeff Klein, director of the Wharton Graduate Leadership Program, recently spoke with the authors about why we are not as good at change as we need to be, and how we can get better at it.

An edited transcript, podcast and video of the conversation follows.

More … http://knowledge.wharton.upenn.edu/article.cfm?articleid=3305

All materials copyright of the Wharton School of the University of Pennsylvania,

Benefit from emulating mavericks - http://www.chaordicsolutions.co.uk/blog/from-our-business-transformation-consultants/benefit-from-emulating-mavericks/

http://www.chaordicsolutions.co.uk/blog/from-our-business-transformation-consultants/benefit-from-emulating-mavericks/

Benefit from emulating mavericks: innovative business models, novel technologies, leveraging experience and ideas.

 

Extract from bcg perspectives by the Boston Consulting Group – Martin Reeves, George Stalk, and Jussi Lehtinen:

In an era in which scale-based leadership is both less durable and less valuable than it once was, many large corporations find themselves looking over their shoulders for the next disruption—the iPhone equivalent that could reshape their industry. In many cases, these disruptions come from mavericks—small outlier companies that think and act differently from incumbents.

A group of strategists met recently in Geneva, Switzerland, to discuss the emerging theory and practice of outlier strategy. The conference featured a “Meet the Mavericks” panel discussion in which four outliers described their experiences in successfully challenging incumbents.

Common to all four companies, the discussion revealed, is that they built a significant and profitable business by changing the way their industry operates. Here are some insights on what large companies can and should learn from outliers.

More … https://www.bcgperspectives.com/content/articles/growth_business_unit_strategy_lessons_from_mavericks_staying_big_by_acting_small

Copyright © 2013 The Boston Consulting Group  All rights reserved