28 Aug

Social Business

Social business represents a significant transformational opportunity for organizations. Many companies, after initial forays into external social media, are now realizing the value of applying social approaches, internally as well as externally. Social business can create valued customer experiences, increase workforce productivity and effectiveness and accelerate innovation. But many companies still wrestle with the
organizational and cultural challenges posed by these new ways of work. A new IBM Institute for Business Value study, based on responses from more than 1,100 individuals and interviews with more than two dozen executives from leading organizations, reveals how organizations can use social approaches to create meaningful business value.

-IBM Institute for Business Value

Getting your 100,000th “Like” on Facebook, or having your latest pearl of wisdom retweeted 200 times  is all well and good, but are these activities driving revenue? attracting talent and bridging the collaboration gaps in your organization? Is your use of social media allowing your organization to engage with the right customers, improve their online experience and tap into their latest insights and ideas? Does your social approach
provide your customer-facing representatives with the ability to search the globe for expertise or apply learnings?

These are some of the questions worth thinking.

 

03 Aug

Why Strategies fail in Corporate World

No doubt  strategic thinking has a great importance for the overall growth of the organization. As very well said “Men without vision shall perish” which holds so true about every organization too. Having a strategic thinking that maps to the vision is an absolute necessity. I don’t think if a company or group can ever succeed if it lacks either the vision or a strategy.
I have read and observed that many times companies and divisions that have all the required strategy but still fail. They have an executive team which churns our great strategies  but still they fail. In my personal experience  the disconnect between thinking and execution is the key reason. What was thought was not relayed well and executed in accordance to the strategy at all.
Many times I have seen the executives having a thought process that thinking is their game. Once they are done just throw the strategy map to the lower management. Let the lower management have a plan to execute on the strategy.
Now comes the turn of the lower management and they start executing. Many projects are brought to life and many changed based on their limited understanding. Priorities are assigned to all the projects again based on their interpretation of the  strategy  map.  Not just the wrong interpretation of strategy but also other factors like their own technology priorities, sale priorities, client priorities, priorities of the respective group etc.

Nothing wrong with this except that there comes a disconnect! Strategy makers do not understand how the projects in execution fulfill the strategy and match to the vision of the company while the execution teams keeps on spending huge amount of effort on projects that are not aligned strategically to the vision of the company. A huge amount of resources are wasted on strategy and execution in this manner.

I know nobody is trying to do it with an intent to go on a wrong path but still it happens every time very year. Just in USA,  companies spend billions of dollars on training the top level management about the best strategies etc. But every year less than 20% strategies are successfully put to implementation.
How to fix this issue? Any thoughts?Any comments?
03 Aug

Risk vs Issue

Risk vs Issue is something that confuses us more than anything else in Project Management. I have myself always been confused about the difference between Risk and Issue. I always understood it as Issue is an event and Risk is the Consequence. I believe that most of us in the profession also think the same way. So I am not wrong…until I read the definition in PMBOK.

 

 

03 Aug

Different people develop at different rates

If you are a leader of any kind you need to be best motivator. Keep a thumb rule in you mind, different people develop at different rates. The best motivators always lookout for the hidden capacities that are best to come. As a leader more than getting laurels the biggest role is to find the best in others and develop it.
If ever you selfish yourself asks you not to do this have a look at history and remember that the best in the world where low or poor performers sometime in their life. Einstein could speak when he was four years old and read when he was seven. Walt Disney was fired by the newspaper editor as he had “No good ideas”. Issac Newton did bad in school and

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21 Feb

World population and per capita income

A very interesting map infographic from National Geographic that shows where and how the population of 7 billion lives. The map shows population density; the brightest points are the highest densities. Each country is colored according to its average annual gross national income per capita, using categories established by the World Bank.

The most amazing thing for me on this infographic is how World population and per capita income have been shown in co-relation with things like Life expectancy, years of education, literacy rate, fertility rate, new migration rate, phone subscriptions, cars, carbon dioxide emissions etc.

World population and per capita income

World population and per capita income

Here is one of the correlations with world population and per capita income and you can see more on National Geographic’s website by clicking on various tabs of infographic.

World population and per capita income

World population and per capita income