In a typical week, I spend about 70 percent of my waking hours on work-related matters. Another 50 percent is devoted to my family. Which leaves 20 percent for taking care of the household, and ….
Yes, that adds up to more that 100 percent. But there simply aren’t enough hours in a day for all that needs to be done — not to mention protecting that crucial time with loved ones.
So, thank you, multitasking! I can’t be the only one who has held a child while writing emails, taken conference calls from the supermarket, or had several online meetings running simultaneously.
All of this occurred to me as I struggled to find time for this blog. Writing forces me to shut off everything around me and reflect on the things that really matter — in a world that is rapidly changing, increasingly complex, and in which technology can sometimes seem a mixed blessing. When I do finally carve out an opportunity to write, it is precious time, which I cherish.
But writing is hard. Trust me, I’ve thought about creating a blog for years, and my past is riddled with failed attempts to start. Each time, I hesitated for too long, wondering whether people would really want to hear what I have to say. Like many writers, I have wondered if my compositions were too long, too short, too personal, too corporate, too banal, too deep ….
But as much as I appreciate your attention, dear reader, this time around I realize that I am writing the blog for me, the writer. Like many of us, I navigate a harried, high-pressure life. And this blog is my time, my space, to do something creative and expressive.
Are your Master Builders free to create? Are your Ordinary Builders helping them to execute? And more to the point, are you acting like the evil President Business, hindering innovation, placing talent in silos, and keeping your organization frozen in the past?
If so, you may find an unlikely role model in Emmet Brickowski.
OK, Emmet may be an animated character made of plastic blocks, but don’t dismiss him so easily. If you are a manager looking to ensure your team is the best it can be, you may want to check out Emmet’s starring role in “The LEGO Movie.” I believe there is deep wisdom in what this little character has to say.
One of the key themes of the film is that many organizations adhere too strongly to their legacy traditions. Though such traditions may have served them well in the past, they can also sow stagnation and put a brake on agility and adaptability. This is especially true in the Internet of Everything (IoE) era, as a massive wave of network connectivity and innovation upends organizations, business models, and entire industries. In the process, longstanding assumptions around strategy and success are falling by the wayside.
Emmet lives in a world run by President Business, the head of a successful corporation that fears any change to the status quo. President Business will even resort to supergluing LEGO pieces to keep them in their rightful places. President Business divides the world into two kinds of people: Ordinary Builders and Master Builders. He rewards Ordinary Builders who follow the rules, building from their LEGO Kits; he disapproves of the “anarchic” creativity of the Master Builders, who like to improvise from a pile of blocks, and he is determined to capture all of them.
Digital innovations have upended many assumptions about the art of buying and selling. But the brick-and-mortar retail store is far from extinct. And while digital technologies continue to disrupt traditional business models, they also present retailers with exciting opportunities to make their stores more immersive, interactive, and, well, digital.
As Doug describes it, “media is becoming the store and the store in essence is becoming media.” In short, he argues that the store itself has to embrace many of the capabilities and services that have made online retailers so successful, while retaining and enhancing some of the advantages of the physical retail experience. The store should become a “high-octane experience,” as Doug puts it.
I wholeheartedly agree. In the Internet of Everything (IoE) era, an explosion of new connections is driving new sources of value. And the physical retail store can capture these new sources of value — just as their online counterparts have.
The key lies in blending the two experiences in a seamless manner.
As in-store consumers, we expect to interact with a product viscerally in a physical retail setting; online we enjoy access to rich product content. Combining the two will go far to engage and convert consumers while cementing brand loyalty.
Here are a few of the ways in which retailers are creating new digital in-store experiences:
Data analytics present a precise picture of an individual shopper, their online research and shopping history, and their real-time, in-store browsing, as tracked through their smart device and/or in-store video.
Wi-Fi and mobile technologies enable new connections during each step of the shopping journey, offering real-time prompts, expert advice, and incentives to “seal the deal.”
RFID tags and other sensors — combined with data analytics — provide precise tracking of products and inventory and enable such in-store experiences as “magic mirrors” and digital signage. These utilize detailed information on individual shopper behavior and buying history to transform the real-time experience.
Doug and I agree that, moving forward, it will be essential for retailers to gain the trust of consumers. If they are to be tracked in-store and engaged in real time, customers will need to feel confident that retailers are fully transparent throughout the shopping journey.
Surveys show that consumers have their doubts about sharing data. But when trust is established and clear benefits and value are established, they are willing to op-in. In effect, the nature of the exchange has to be clear, and education is crucial. Then, the full power of merging digital technology with the brick-and-mortar world will be evident.
The end result, I believe, is a win-win for retailers and customers alike.
But the key for retailers is to lead not follow. Waiting to see what other retailers are doing is not an option. Through data and analytics, they can get to know their customers better than ever. And by knowing their wants and desires, create a digital in-store experience that is more exciting than ever before.
For more on innovation in retailing check out our new BizWise video to learn how one mall owner has transformed relationships with shoppers using an omni-channel approach.
In a constantly changing world, getting the right talent focused on the most pressing challenges is essential — not just for companies, but for service providers, cities, and countries.
Today, the key driver of that rapid change is technology, particularly the explosion in connectivity known as the Internet of Everything (IoE). Cisco predicts that IoE will have connected 50 billion “things” by 2020, compared to 10 billion today. But for all the talk of things, IoE is not just about embedding sensors in shoes, jet engines, refrigerators, and shopping carts. The true opportunity arises when people, process, data, and things are connected in startling new ways.
In such an environment, collaboration is critical. Indeed, IoE-related innovations have the potential to improve and transform our world in profound ways. But no one company can solve these challenges. They will require partnerships and the open sharing of ideas and talent.
Technology companies, in particular, will need to change the ways in which they utilize their talent. For many decades, there was one way to access talent — by hiring it. Today, workforces are flexible and may be spread across time zones and continents. Knowledge workers still contribute as employees on company payrolls, of course. But increasingly, they are just as likely to collaborate on a specific project as partners or as subject-matter experts sharing knowledge within cross-functional or cross-industry groups.
That is why I feel so strongly about a recent out-of-court settlement in Silicon Valley regarding the free flow of talent from one organization to another. Apple, Google, Intel, and Adobe agreed to pay more than $300 million to 64,000 engineers who claimed that the companies’ hiring policies were hindering their career paths and access to higher salaries.
The Internet of Everything (IoE) is a juggernaut of change, transforming organizations in profound ways. It sows disruption, and it grants enormous opportunities. But this sweeping wave of change is not reserved for what we normally think of as “technology companies.” In the IoE economy, even seemingly “analog” endeavors must be bestowed with network connectivity, no matter how venerable a company’s roots or old its traditions.
In a world where Everyone Is a Tech Company, there are some great examples of older companies that are heeding this new reality. Retail, manufacturing, transportation, and education are just a few of the places where people, process, data, and things are being connected in startling new ways. Companies that are ahead of the IoE transformation curve will ensure their competiveness in marketplaces that are ever more vulnerable to disruption.
Dundee Precious Metalsprovides a great example of a company that is embracing change. A far-flung global organization, the company, for example, runs Europe’s largest mine in Chelopech, Bulgaria, from which it ships gold-rich copper ore to a smelter in Namibia. Yet through IoE-related technologies, executives at the company’s headquarters in Toronto, Canada, have gained unprecedented visibility into all aspects of their operations.
The end result? A boon in safety, efficiency, and productivity.