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A Picture Is Work 1000 Words

2009-12-16T11:53:00.006-05:00

Coloured paper, fancy font, unique ordering. All of these are techniques for getting noticed on the job hunt. So, how does one stand out, knowing full well each resume may be looked at for a couple of minutes at most? One thought, don't say it with words, use pictures instead.

While this may be radical for individual use, it's out of this world when it comes to business proposals. However, imagine what you would think of an organzation summing up their proposal in a single page diagram? To the point, and stands out.

Might be worth a shot in the new, new business world of 2010...

How the Mighty Toyota Falls

2009-10-02T10:16:00.007-05:00

Built to Last companies, didn't last. Good to Great companies have fallen. Now, it looks like bestselling author Jim Collins understands what he can truly rely on - organizational decline. In his most recent book How the Mighty Fall, Collins has outlined that companies go through a predictable pattern that can lead to their demise, and that they must catch themselves early enough in what he calls the 5 Stages of Decline, if they have any chance at all to pull out of the downward spiral.

Collins knows that great companies must develop the ability to see the warning signs, and he's being proven right. Earlier today, Akio Toyoda was quoted as saying that Toyota is "grasping for salvation", which as you can see by the illustration above is not a great place to be.

The lesson for other leaders is that they must be crystal clear in how they see the world, and how it relates to their organization, and its products and services. Otherwise, the chances of reversing the decline may not be in your favour.

Click here to read our recent LeaderShip Edge view of Jim Collins' book How the Mighty Fall.

Click here to read the Toyota article on Bloomberg.

Are you Fast?

2009-10-01T11:39:00.004-05:00

Last night the winners of the Technology Fast 50 were announced. The annual program, now in it's 12th year, is Canada’s pre-eminent technology awards program, is a ranking of the country’s 50 fastest-growing technology companies based on percentage revenue growth over five years.

To qualify for the Technology Fast 50 ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluates and judges companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance.

To see the list of winners, and to see where Canada's technology is heading, click here.

Wave Bye Bye

2009-09-30T10:38:00.002-05:00

Talk about a Game Changer. Google has done it again, they are in the final stages of preparing to release their next innovation - Google Wave. Wave promises to change email as much as email changed traditional mail. The fundamental fact is, this will revolutionize how people communicate.

See it in action...

Down to the Wire at Netflix

2009-09-22T10:29:00.004-05:00

After a three-year long competition, the winning team won with less than 10 minutes to spare. In a true testament to the power of collaboration, open door innovation, and global teams, BellKor's Pragmatic Chaos won the $1 million dollar Netflix Prize for improving the search results on the popular movie rental company's website.

Netflix CEO Reed Hastings announced the results today. The winning team consists of two researchers at AT&T Inc., two engineers from Montreal, a research scientist at Yahoo Inc. and two machine-learning researchers from Austria.

Not only was the fact that the winning solution was submitted with nearly 10 minutes to go, Netflix said all seven met in person as a group for the first time Monday.

In true Open Door Innovation fashion, here's how they won (and how the second place team was so successful) from Wired Magazine:

"The secret sauce for both Bellkor’s Pragmatic Chaos and The Ensemble was collaboration between diverse ideas, and not in some touchy-feely, unquantifiable, “when people work together things are better” sort of way. The top two teams beat the challenge by combining teams and their algorithms into more complex algorithms incorporating everybody’s work. The more people joined, the more the resulting team’s score would increase."

Want to see what collaboration looks like?

Click here to read the Wall Street Journal article.

Click here to read the Wired article.

GFCI Rankings Are In!

2009-09-22T08:58:00.004-05:00

The 6th Global Financial Centre Index was published today, and the results showed some significant changes in ranking around the world. The report is published twice a year by the City of London, and ranks the world's top financial cities.

A spokesperson for the City of London Corporation, which commissioned the research said:

"This independent research demonstrates three trends: cautious optimism that the global financial services industry is showing signs of recovery, further movement of the financial business centre of gravity towards fast-developing markets - especially in Asia; and the emergence of a 'Premier League' of economically and socially interconnected cities."

To read the full report click here.

Clarity, Clarity, Clarity

2009-09-02T14:13:00.003-05:00

Whether you believe the economy is turning around, or not, the signs are looking up. That being said your employees are probably seeing the light at the end of the tunnel. If the video post below of Ram Charan reminded me of one thing is that this time, the change is real. Business models are changing, markets are changing, and management is changing. The one thing however that hasn't, and won't change is enthusiasm.

With that said, the coming light will lead your people to conjure up great new projects, and plans for your company to follow. Be calm, be smart, be prudent. Choose wisely.

Now is the time to ensure that plans are comprehensive, well thought out, and intelligent. Oh, and clear. With your corporate coffers at an all time low (or all time lock-down) money will only be spent on well thought out ideas.

Consider the today's report from the IOC summarizing the overall bids of the four bidding cities for the 2016 Olympic Summer Games. Keeping in mind the final vote is one month away, two of the four cities had rather harsh reviews that included a note on the lack of "a full understanding of the need for clear delineation of roles and responsibilities, including financial, between different stakeholders" in their bid.

My thought would be that if anyone could provide a professional bid it would be for the Olympics. However, even at the highest level clarity is still an issue. Even the IOC knows that the times have changed.

So, as we all move forward, move faster, aim higher, in order to get stronger.

Click here to read the full article from CTVOlympics.ca

Ram Charan - Leadership in the Era of Economic Uncertainty

2009-09-02T08:51:00.005-05:00

Just stumbled across this video, and thought it always helps to a new take on things. So hope you enjoy this take from Ram Charan on Leadership in the the era of economic uncertainty.

Ebay is for the aged...

2009-07-30T08:44:00.002-05:00

As there are some signs of life in the global economies, the interesting thing to be on the look out for is how companies are doing things to get ahead of their competition.

In recent example is Morgan Stanley's UK offices, using the power of one of their interns to generate research on how teenagers consume the media. Finishing part is that when looking for data on teenagers. They didn't do the usual approach, namely getting a 35-year-old researcher to conduct the data. They decided to take a different approach in this case to severe teenagers. They took one of their interns asked them to provide a report. The interesting part is Matthew Robson their superstar intern is only 15 years old.

As turns out, having people deep inside the demographic provider information allows information to be far more rich far more robust and far more accurate to that point. Morgan Stanley's UK office has been inundated with requests from CEOs and organizations all over Europe asking for the information in the report, and asking to speak with Matt Robson.in fact, the most popular reach and reports Morgan Stanley was put out in recent history. To wit, it's being blogged about in Canada.

This is one example of the interesting things are about in the next couple months as the economy rebounds, and companies start to do new, bold and unique things that have never been done before.

What are some of his findings, well;

Twitter is useless

eBay is for old people (who have credit cards)

Sony Ericsson phones are the phones of choice, and

Teenagers don't read newspapers

Click here to read Robson's report.

Canada's Top 1000

2009-06-26T07:04:00.006-05:00

If you don't truly believe that Canada has been caught up in the current economic melt down again. In their annual report, The Globe and Mail reports that:

Canada's 1,000 largest publicly listed companies managed to pile up only $74.1 billion in total earnings in 2008, a dramatic decline of 30.3% from the year before. Subtract energy gains from the mix, and total profit would have been down a stunning 54.5%.

While most of the focus recently has been on the auto sector, the results have been altered across the board.

Read the full article here.

Those Who Ignore the Past...

2009-06-22T06:53:00.000-05:00

It's always good to stop for a moment and remember some of the things that got us to where we are - both good and bad. If you're looking for a condense history of the past 25 years in Canada, look no further than a recent special feature in the Globe and Mail.

Click here to read the report.

Microsoft Bing's it to Google

2009-05-29T08:02:00.004-05:00

Microsoft has unveiled their new search engine called Bing in an attempt to take back their share of the search market from powerhouse Google. Now, already I've made a mistake. Bing.com is not a search engine. Microsoft claims it is a decision engine. Whereas Google shows you results pertaining to what you're looking for, Bing.com helps you make better decisions.

While bing.com isn't live yet, the interesting thing will be to see how it works its way into our lives. While I've googled my fair share of people and places, will I bing them?

Yesterday, following Microsoft CEO Steve Ballmer's unveiling of bing.com, Apple co-founder Steve Wozniak was asked his opinion of the new decision engine...

I guess Microsoft is hoping that when you've made that great decision thanks to their site, and that light bulb in your head goes on it makes one sound - bing!

Keeping an Eye On the Economy

2009-05-11T15:25:00.003-05:00

Here's a glimpse into how Professors at the Tuck School of Business at Dartmouth are reacting to the current state of the Economy. Professor Espen Eckbo, Dean Bob Hansen and Dean Matthew Slaughter discuss the state of the economy and reflect on the bailout.

First Quarter Report: Survivor's Guide to the Unfolding Universe

2009-04-22T13:10:00.002-05:00

The Beacon Group is pleased to present our First Quarter Report.

Click the image below to download your free copy.

In This Economy...

2009-04-15T12:59:00.004-05:00

Over the past couple of weeks, I've travelled from coast to coast working with organizations, and speaking with business leaders about... this economy.

The simple truth is, in October 2008 the world (business world that is) was told that a huge meteor was on a collision course for us and we should all run for cover.

That was then.

Now, almost 8 months later, we're still waiting, for some huge defining moment that will end this thing, and we can move on. Well, I'm getting a sense that things are going to start moving. No, I'm not professing to know something you don't, but I have spoken to a number of people and if nothing else "the natives are getting restless".

So, it's time to pick things up and get back at it, otherwise we'll keep spinning in endless circles, talking about one thing - this economy.

5 Rules of Retailing in a Recession

2009-04-06T14:22:00.002-05:00

Check out this article on the 5 simple rules for retailing in a recession from our friends at the Harvard Business Review. Read the full article here.

Yes, it's talking about the "5 Rules of Retailing in a Recession", but at least a few of the points can be useful for other industries. Take a look through some of the suggestions by the author and you might find something for your business...

Ford Dodges Bailout with Outside Help

2009-03-02T08:40:00.003-05:00

We've frequently praised Ford in this blog for the actions it has taken to secure its future... to the extent that any Detroit auto maker can secure its future these days.

A lot of the praise can be directed at Ford's CEO Alan Mulally, an outsider to the Detroit Big Three and the auto industry in general.

Click here to read more about how Ford took an innovative approach to get ahead its Detroit rivals - GM and Chrysler. I pulled out some excerpts from the article on Mulally and the actions he took to avoid a potential bankruptcy at Ford, at least for now:

Mulally, 63, blessed with a deceptively soft-spoken persona, was audacious in taking on all of Ford's most critical problems at once. The result is the healthiest cash position of any domestic automaker, a firm committed to just one brand, the "greenest" line-up of Detroit offerings, and the one domestic U.S. automaker that has actually been gaining market share.

A prescient Mulally soon after his arrival bolstered Ford's treasury with a stunning $23.4 billion (U.S.) in fresh borrowings and lines of credit in late 2006. The move was questioned at the time because Ford was required to put in hock just about all of its assets, even its hallowed "Blue Oval" trademark.

Again it's another example of how an outsider CEO can bring fresh thinking to a company. Outsider leaders are not silver bullets to all companies in every situation. Indeed sometimes they can create more problems than they solve. From the article:

Outsider turnaround CEOs are over-rated. The now-bankrupt Nortel Networks Corp. is a sad example of that. But Mulally's remove from Detroit's notoriously insular culture has perhaps saved Ford, at a time when at least one U.S. credit-rating agency says there is a 70 per cent chance that either or both of GM and Chrysler succumb to bankruptcy.

How to Avoid Bad Decisions

2009-02-24T10:32:00.003-05:00

A lot of executives and business leaders are looking at the global banking crisis and wondering how did it get this bad? How did qualified business leaders take such risks and lose their shirts on the sub-prime lending market?

Is it a case of 20/20 hindsight, or is there a way to spot bad decisions and avoid them before they become a huge problem?

"Think Again - Why Good Leaders Make Bad Decisions and How to Keep it From Happening to You" by author Sydney Finkelstein is a book that examines the issue of bad decisions in the corporate world. It's an interesting read that explains how flawed pre-judgments, misperceptions and subconscious influences can affect the outcome of decisions that may seem obvious to executives. The book looks at 83 real-world flawed decisions and determines that there are 4 "red flag" conditions in the decision making process that lead to errors in judgment.

Click here to check the book out at Amazon.com.

Innovating Before you need to

2009-02-17T15:01:00.004-05:00

In today's economic situation it's difficult to find a story of success, especially one that involves innovation.

Companies are suddenly becoming more cautious about trying new things and innovating on their business models.

Perhaps there are still a few stories of business success out there. The most intriguing elements of these stories of success is they involve businesses that have displayed tremendous amounts of innovation. Innovation that has been engineered well before this current economic downturn.

One such example is Salesforce.com Inc. pursuing a unique business model of Software-as-a-Service that it developed in the years prior to this recent downturn. Challenging the way software is sold and operated was a bold move back then and it's paying big dividends today. Read more about Salesforce.com's success by clicking here.

100 Best Companies to Work For

2009-01-22T14:19:00.004-05:00

Even in hard times there are bright spots in the corporate world. Actually take a look through this year's Fortune's 100 Best Companies to Work For list and you'll notice many have positive job growth. You wouldn't notice there's a recession going on with the numbers some companies on this list are showing!

Click here to see the full list.

Fortune also provided us with a small list of companies who have never had a layoff.

Click here to see that list.

We're still in the middle of recession and your company may have already laid-off some workers for this cycle, but it's worth seeing what companies on this list are doing right and the lessons you can learn to make your organization more robust to difficult times.

2009 - It's about Corporate Culture

2008-12-22T14:08:00.004-05:00

Looking for a resolution for 2009?

Let Harvard Business School give you 10 reasons to choose improving your Corporate Culture next year.

Click here to read the full article.

A computer screen thin like paper

2008-12-15T15:51:00.003-05:00

We've seen some pretty big shifts in the media sector lately. With the Tribune company filing for bankruptcy not too long ago. Readership is also down significantly at major publications across the US... What are publications doing to innovate?

Ever heard of E-paper?

Neat idea? Well if you're in the publication industry, you better get on it quickly. Esquire magazine already launched their October edition with an E-paper cover, featuring changing and flickering text. A flashy advertisement for Ford also appeared on the inside cover.

We'll see who survives the slump in print media... Likely the survivors will be those publications that are two steps ahead of everybody else with innovations such as these.

... and isn't it surprising that Ford was the first to snag an advertising spot in an e-paper magazine? Maybe they're on to something? They're definitely the healthiest of the Big Three right now - arguably the only one that may survive without a bailout.... thanks to a forward looking management team who prepared for the worst.

I see the Future...

2008-12-04T14:05:00.004-05:00

Ok, I don't, but the U.S. Institute for Corporate Productivity does, and I read their report on how business cultures could look in 2018.

Their findings? Well, according to their research (Source: The Globe and Mail), they see the following themes coming to the forefront over the next 10 years:

Going digital: Companies will become more plugged in and more geographically diverse.
Branding: Companies will seek to carve out individual identities amid growing global competition.
Measuring: Companies will have closer ways to keep tabs on corporate culture.
Getting friendlier: Evidence is mounting that "healthier" workplaces, based on respect and co-operation, spark higher productivity and better market performance.
Getting sustainable: More organizations will adopt green values as pollution levels rise, the population grows and natural resources dwindle.

My suggestion, don't wait 10 years to start adopting these principles. Start now, be ahead of the curve, and more than likely you'll still be around in 2018, as a leader in your industry.

The death of an American icon

2008-11-26T11:03:00.002-05:00

An excellent article appeared in Fortune magazine about the recent crisis at GM. Actually it takes a longer view at the decline of GM since the 1960s.

It's a great piece to read. The article exposes the chronic desire of many GM executives throughout the decades to conform and maintain stability in their organization when really what they needed was exactly the opposite. Like the author says: "At GM, conformity was everything, and rebellion was frowned on".

Speaking about GM executives:

"In working for the largest company in the industry for so long, they became comfortable, insular, self-referential, and too wedded to the status quo - traits that persist even now, when GM is on the precipice. They prefer stability over conflict, continuity over disorder, and GM's way over anybody else's. They believe that hard work will overcome adversity, and that tomorrow will be better than today - despite four decades of evidence to the contrary."

About the company:

In many ways the story of General Motors since the 1960s is a tale of accelerating irrelevance. Customer preferences changed, competition tightened, technology made big leaps, and GM was always driving a lap behind. It became a red-state company, its Buicks and Pontiacs seldom seen in California or New York City. GM has been losing market share in the U.S. since the 1960s, destroying capital for years, and returning no share price appreciation to investors.

Interesting given the current economic conditions. Is this the best GM can come up with?

The story of GM is no big secret, but the article is still a great read. Click here to read more.

Field Trip to Google

2008-10-07T13:18:00.002-05:00

Last Thursday, I had the distinct pleasure of spending the morning at the corporate offices of Google, in New York. While the ultimate dream of any business person is to visit the iconic Googleplex in Mountain View, I must say, this certainly didn't let me down. Scooters, food, massage, funky layout, drum kits, you name it - they had it all. However, there was a tremendous amount of respect for what they were doing. Google is Google for a reason..

My challenge to anyone is to have any one of your employees make a video like this about working for your company...