Friday, September 20, 2013

The Future Is Scary. Creative Thinking Can Help.



Thinking creatively about the future requires sensitivity to the complex, fast-moving world in front of you, the ability to anticipate unexpected disruptions, and a willingness to constantly reevaluate your most basic beliefs and assumptions. Done well, we believe thinking creatively about the future of organizations requires doing three things:




First, understand how people think.




The brain’s hard-wiring could be leading you and your colleagues to hold on to tired assumptions and misperceptions about your organization. People have a natural bias toward ideas and concepts that confirm, as opposed to contradict, ideas they already believe. Such biases can sabotage their capacity for fresh thinking.




A classic example: Henry Ford famously insisted that the all-black Model T would always remain desirable to consumers. Even as other automakers created new car models and colors, even when his colleagues urged him to consider pursuing new directions, Ford refused to budge. After years of fantastic innovations that helped bring the automobile to the masses, Ford fell prey to the“anchoring” bias that leads people to make (or fail to make) new decisions by referencing their prior experiences.




Free your mind to generate new ideas by noticing how these and other cognitive patterns may be shaping your key assumptions and holding you back from thinking in more creative ways.




When thinking about the future of your organization, you and your colleagues must feel encouraged to doubt whether “the way we do things here at X Corp.” is necessarily still relevant. Insist upon a culture that allows people to constantly challenge the most fundamental beliefs, hypotheses, and assumptions that they have about your organization, the industry in which it does business, and the world in which it operates.




Second, think creatively by developing new mental models; audit — and then question — your organization’s fundamental beliefs and assumptions.




To think creatively is to change the way you look at something, to update one or more of your mental models. To get started, drill down on some of the most important mental models that you and your colleagues are currently using. Consider conducting a “beliefs audit.” By interviewing or surveying your colleagues, you can probe their thoughts about your organization’s current situation:




What are some key assumptions inherent in your day-to-day activities? The established “rules” under which you or your organization generally operates? What core values are “given”?

What are some of your own personal beliefs about your organization and what makes it perform effectively at present? In what areas does your organization devote too much — or too little — time and resources?

What is your organization’s competitive space, and are there ways it might be redefined?

If you or your organization didn’t exist, what difference would it make to the world? What would be missing?

These are only sample questions — you should develop others based on the current needs of your organization.




Questioning your current situation can open up paths to creative thinking. For instance, Google’s original aspiration was to build the best search engine ever; arguably the organization achieved that. But in order to enter a new era of growth, Google leaders needed to perceive their company differently. Only when they challenged their long-held assumption that “We are a search engine company” could they then come up with the “We want to know everything” notion which sparked projects such as Google Earth, Google Book Search, and Google Labs, along with further improvements to their fabled search engine.




Third, think creatively about the future by using “prospective thinking” to consider key trends and disruptions.




Take an expansive, long-term view, open to all possibilities and fully aware of what’s happening both within and outside of your organization or your immediate environment.




Megatrends, large social, economic, political, environmental or technological changes likely to have major impact across a wide range of areas, can be a very useful tool to help spark new possibilities. Examples include the rise of alternative energy sources, rapidly-developing markets like Brazil and China, and increasing mobile connectivity. Megatrends will affect your company, your customers, your competition, as well as your family and community.




Develop a list of issues you believe will likely: play out over a relatively long period of time (five to ten years, say, though different industries could have longer or shorter timeframes); have a strong and wide-reaching impact; and open up a range of strategic responses on your part. Then, refine your list by asking: Which trends will be the key vectors for shaping my organization’s future? What are some of the seemingly irrelevant trends that could end up being surprisingly critical?




Ponder the many ways you could exploit these megatrends to create new opportunities for your organization. Stretch your thinking by considering which of these trends your organization would be the least ready to deal with. Are there trends right in front of you that you haven’t yet addressed?




Ask yourself how these potential trends could influence the new ideas you want to generate for the future. For example, a client we worked with several years ago, a major European department store chain, stated emphatically that its future was in China, based on trends outlining the increased purchasing power of the rising middle class there. But not a single person on the leadership team had heard of TaoBao, the closest Chinese analogy to Amazon.com, which was growing at double-digit rates, building new distribution centers across the country, and focusing on customer relationships and loyalty.




Thinking creatively about the future is not only about gathering the trend data but maintaining the atmosphere of doubt cultivated in the first step. This will enable you to look at data — whether trends, customer research, or competitive intelligence — in fresh ways, to be better prepared for an uncertain future. Indeed, thinking creatively about the future means embracing the uncertainty, rather than the more predictable response of trying to remove it.




Source - http://blogs.hbr.org/2013/09/the-future-is-scary-creative-thinking-can-help/#! 

Bangalore: Products vs. Services?

“Bangalore is bursting at its seams,” Suchit Bachalli tells me over the phone. “It is half as liveable today as it was 10 years ago.” The housing is extremely expensive and “for those who can afford it; it is hard to ignore the fact you don’t have drinking water out of your tap, you don’t have 24/7 power and you step out of your house into a traffic jam – it takes an hour and a half to do 10 – 14 KM.”
Unilog is based in Mysor, which is about three hours further South because, as Bachalli explains, “it feels like the Bangalore of the 80s. [Now] the government and policy makers need to consider moving out of Bangalore. The infrastructure of the city cannot take it anymore.”  Yet Bachalli believes the problems with Bangalore run far deeper than simply overcrowding and congestion, they strike to the very heart of the ICT industry.
“The Indian IT industry is at an inflexion point,” says Bachalli. “I think that the model of providing job based services is in decline. That is my personal opinion and I’m sure there are other analysts who will disagree with me. But I believe it is [in] terminal [decline] because when the only value you offer is cost, systems are going to move to other locations where things are [even] cheaper and [even] better.”

Thursday, September 19, 2013

Google's - Game of Throne!

The world imagines the Google workplace as an environment as light and playful as the company's colorful logo.
From the outside, Google is that "Don't be evil" company, run by geeks in T-shirts and jeans, sitting on beanbag chairs.
The world imagines the leaders of Google to be nerdy techno-idealists — people who want to use the company's money and power to build self-driving cars, put a computer on every face, and launch Wi-Fi blimps over Africa.
This vision of Google is accurate. But it's also incomplete.
Past the veneer of primary colors, inside the walls of Google's Mountain View campus, Google is a hotbed of sex and political infighting.
And it always has been.
A source who spent most of his career at Google put it this way:
"Inside Google, it's a 'Game of Thrones.'"
"Game of Thrones" is a series of novels and an HBO television show. The plot is wildly intricate, but the main story is about how several families from all over the Kingdom are competing to take over the throne.
The show and books are full of violence, sex, and political intrigue.
There is no violence at Google. But sex and politics?
Oh, yes.  

Tuesday, September 3, 2013

5 Warren Buffett tips everyone must follow

India's GDP grew by 5 per cent in the financial year 2012-13, lowest in the last decade. It seems the 2008 recession still looms large on our daily lives. While a common man cannot do much about macroeconomic indicators, it is time to revisit, learn and imbibe timeless personal finance lessons from the maestro to overcome financial shocks in life.

Inspired from most admired finance guru in the world, we recommend five most important personal finance tips for everyone:

1. Spend wisely
If you buy things you don't need, you will soon sell things you need.- Warren Buffett

All of us suffer from the urge to splurge and we justify our spending using the pretext of special occasions, peer pressure, lifestyle, family, emotions and even smart decisions. Most marketing companies understand this urge and try to exploit it by making offers that give consumers the false notion of having made the right decision. Unhealthy carbonated drinks are sold with promises of happiness, adventure, youthfulness, etc. Take the example of the current EMI options on expensive smartphones.

When one could do with a Rs. 15,000 phone (within budget), the EMI option gives a false sense of smart decision and instead makes you buy a Rs. 35,000 phone (overstretched budget). Spending wisely is not being stingy but being smart and aware. Every rupee spent on unnecessary urges contributes to lost wealth.

What you should do: Always ask these questions: Do I really need this? Am I overspending? Can I save some money without compromising on the value I want from a particular product/service? Encourage your family members to follow this path.

Lesson: Rule No. 1 : Never lose money. Rule No.2: Never forget Rule No.1 - Warren Buffett

2. Saving: Save for the unexpected
Someone's sitting in the shade today because someone planted a tree a long time ago. - Warren Buffett

All of us know that saving is important for a better future. But it is alarming to observe that most of us do not even save enough for emergencies. This happens due to our myopic view about personal finance.

Instant gratification today matters more than saving for tomorrow. In fact, saving is perceived as sacrifice by people.

What you should do: Follow "pay yourself first" principle. Set aside money for your future goals (and risk) as soon as you receive your monthly paycheck. Take professional advice to know where and how much you should invest for achieving goals.

Lesson: Don't save what is left after spending; spend what is left after saving. - Warren Buffett

3. Think long-term and be patient
 "No matter how great the talent or efforts, some things just take time. You can't produce a baby in one month by getting nine women pregnant." - Warren Buffett

Money is part of nature, it doesn't grow overnight. However, we overestimate money we can make in a year and underestimate what we can make in 10 years. People make money by staying invested for the long-term and without doing much "dancing in and dancing out" i.e. changing portfolios frequently.

Investors around the world believe in the India story in the long-term. You can benefit from India's growth only if you invest for long-term and not panic seeing short-term fluctuations.

What you should do: Make a diversified portfolio based on your risk appetite and financial goals. Pick right financial instruments recommended by your financial advisor and invest regularly and persistently for the long term (8-10 years).

Lesson: Life is like a snowball. The important thing is finding wet snow (opportunities) and a really long hill (long term). - Warren Buffett

4. Borrowing: Limit what you borrow
You will not become rich by living on borrowed money (credit cards, loans). People initially think that borrowing is manageable. But our country is full of examples when managing debt becomes overwhelming. Borrowing should never be done without an objective assessment of future cash flow and other financial needs. One needs to have a solid plan to pay the debt back and not become its lifetime slave. A debt-free life is the best life.

What you should do: Start with thinking that borrowing money is not an option. Shift to using debit card (in-hand money) from credit card. Negotiate your interest rates with the banks and re-finance (early phase) if necessary. Objectively assess inflation rates, income growth, sources of income, assets to pledge, etc, while planning long-term borrowing.

Lesson: I've seen more people fail because of liquor and leverage - leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing. - Warren Buffett

5. Risk
Risk comes from not knowing what you're doing. - Warren Buffett

Everyone wants to make money and we all want it quick. We go for investments which promise high returns. But we fail to objectively analyze the associated higher rate of risk. Trying to hit a six on every ball with your hard-earned money is nothing short of gambling. This happens because we are greedy, don't read fine prints of financial instruments and don't understand their investment objective. Our financial planning is vague and is done in a random fashion which leaves us susceptible to risk.

What you should do: Understand the objective of various financial instruments and asset classes.

Consult professional advisors to understand the investment pyramid, develop an investment strategy, review regularly and diversify.

Lesson: Investing without knowing increases risk. However, instead of shying away from investing one should acquire knowledge to get it right.

http://profit.ndtv.com/news/your-money/article-5-warren-buffett-tips-everyone-must-follow-323671

Monday, September 2, 2013

16 Things You Should Do At The End Of Every Work Day

The last few hours of the work day can have a significant effect on your level of productivity the following day—so it’s important you have an end-of-day routine that sets you up for success the next morning. With the help of career and workplace experts Lynn Taylor, David Shindler, Michael Kerr, Anita Attridge, Alexandra Levit and Michael “Dr. Woody” Woodward, I compiled a list of 16 things all workers should do before the leave the office.

Read more : http://www.forbes.com/sites/jacquelynsmith/2013/08/26/16-things-you-should-do-at-the-end-of-every-work-day/

Five Trends Shaping The Future Of Work

When it comes to the future of work there are a few key trends which business leaders need to pay attention to.  Understanding these trends will allow organizations to better prepare and adapt to the changes which are impacting the way we work.  These five trends are: 1) changing behaviors which are being shaped by social media entering the enterprise 2) new collaborative technologies 3) a shift to the “cloud” 4) millennials soon becoming the majority workforce and 5) mobility and “connecting to work.” 

Read more : http://www.forbes.com/sites/jacobmorgan/2013/06/20/five-trends-shaping-the-future-of-work/ 

Sunday, September 1, 2013

5 Must-Have Qualities Of The Modern Manager

As the world of work continues to change so do the qualities and characteristics of the managers who are going to be leading our companies.  Work is not the same as it used to be and we are seeing dramatic changes in both behavior and technology not just in our personal lives but in our professional lives.  This means that just because managers were successful in the past doesn’t mean they will be successful in the future.  When it comes to evolving the way we work managers need to possess five qualities to help their organizations evolve and succeed in the future of work.
Follow from the front
The future management model is all about removing roadblocks from the paths of employees in order to help them succeed.  This extends beyond managing people to empowering and engaging people.  The traditional idea of management was based on leading by fear and the notion of command and control.  Employees used to work hard to allow their managers to succeed and now it’s the managers turn to make sure their employees succeed.  As I’ve said many times, employees are the most valuable asset that any organization has.  In the past managers said “jump” and the employees said, “how high?”  Now, the managers are jumping with employees.
Understand technology
This isn’t the same as technical expertise.  I’m not saying that it’s important for managers to all of a sudden become IT professionals. However, managers do need to understand the overall technology landscape and how it is impacting the way we work.  This means having a good pulse of what is happening in the consumer web as well as understanding which social and collaborative technologies are making their way into the enterprise and what the implications of that are.  Managers who have a good understanding of what is happening with technology will always be able to adapt and evolve ahead of the competition.
Lead by example
This isn’t the same as technical expertise.  I’m not saying that it’s important for managers to all of a sudden become IT professionals. However, managers do need to understand the overall technology landscape and how it is impacting the way we work.  This means having a good pulse of what is happening in the consumer web as well as understanding which social and collaborative technologies are making their way into the enterprise and what the implications of that are.  Managers who have a good understanding of what is happening with technology will always be able to adapt and evolve ahead of the competition.
It used to be good enough for managers to say they supported something.  A manager would just need to approve the budget and say “go for it.”  When it comes to collaboration and the future of work that is no longer enough.  Managers need to commit to more than just funding collaboration.  They need to be the ones on the ground level using the same tools that the rest of the employees are using.  There is no way that employees can change and evolve (nor should they) unless they see their managers doing the same.
Embrace vulnerability
This goes hand in hand with being open and transparent.  Our organizations were modeled after the military and if there’s one thing that a commander wasn’t, that was  vulnerable.  However, times have changed and we aren’t running our organizations like the military anymore.  We go our whole lives (especially men) learning how to be the opposite of vulnerable and we always have this “shield” up to keep people from seeing us when we are vulnerable.  However, Brene Brown, author of “Daring Greatly,” says that vulnerability is about having the courage to show up and be seen.  According to Brown, “Vulnerability is the absolute heartbeat of innovation and creativity.  There can be zero innovation without vulnerability.”  Being vulnerable isn’t about being weak it’s about being courageous; a key quality that every manager must have going forward.
Belief in sharing
Traditionally managers sat at the top of the organization and had access to all of the information required to make decisions. Managers would dole out the orders and the employees had to execute on those orders without asking any questions.  Today managers cannot believe in hoarding information but in sharing information and collective intelligence.  Managers need to make sure that the employees can connect to each other and to the information they need to get their jobs done, anytime, anywhere, and on any device.  Managers now rely on employees to help make decisions instead of isolating them from this process.
What other qualities do you think the modern manager should possess?

The 5 Must-Have Qualities Of The Modern Employee

Reference: http://www.forbes.com/sites/jacobmorgan/2013/08/27/5-must-have-qualities-modern-employee/#!

A few weeks ago I wrote an article covering the 5 Must-Have Qualities Of The Modern Manager. However it’s not just the managers that need to adapt and evolve to the changing workplace; it’s also the non-managerial employees. As I mentioned in the previous article dramatic changes in the way we work are being fueled by new behaviors and new technologies. In fact, there are five trends which are shaping the future of work. To keep pace there are five qualities that the modern employee needs to possess.

Embrace change
Employees have grown accustomed to doing things a certain way. They have used to the same technologies and the same processes for many years but that doesn’t mean that those technologies and ways of doing things are the best for our companies or for ourselves. Consider that in a few years millennials are going to become the majority workforce in the United States. These are people who grew up using social and collaborative tools to communicate, collaborate, and find people and information. This new workforce means new behaviors and new technologies; employees should be stepping forward together and embracing the change that is going to make their jobs and lives easier. As Winston Churchill said, “To improve is to change; to be perfect is to change often.”

Have a voice in your company
For the first time in the history of business “leader” and “manager” are not mutually exclusive. Leaders no longer to have to be managers, they have to be people who are passionate, knowledgeable, and comfortable with sharing (which is another key quality mentioned below). New collaborative technologies are empowering every single employee within an organization to share their passions, interests, ideas, and feedback. If you care about something you have the opportunity to become a leader and a known voice on that topic within your organization. However, this can’t happen if you don’t speak up. You can’t become a leader if you are scared of sharing your voice and your opinions. This means using the new collaborative technologies that are available to you to get recognized within your company. Why be a employee when you can become a leader?Have a voice in your company
Be autonomous
Now that employees have the ability to work from anywhere at anytime, being self-directed is crucial. There is no longer a manager watching your every move and reminding you to “get back to work.” This a privilege but it’s also a responsibility. A great deal of trust is being placed on you to accomplish your tasks. As a modern employee you must be capable of executing on your deliverables whether you are in an office, cafe, or at home.
Share and help others
This was one of the key qualities for the modern manger but it’s also a key quality for the modern employee. Traditionally employees wanted to keep ideas to themselves to get credit for their own contributions. This model is no longer effective. With the emergence of collaborative tools, ideas and feedback can easily be traced back to individuals within an organization. Sharing not only benefits the team  but it also benefits you as an employee. Your peers and managers will recognize your can-do attitude and ability to lend a helping hand. Sharing can take many forms; you can share your ideas, feedback, what you are working on, documents, or anything else that you choose to. By sharing, your team and neighboring departments will recognize your name. To be a modern employee you must become comfortable with sharing and helping others.
Filter and focus
In today’s work environment we are pulled in many directions. We are on meetings while we check email, simultaneously tweeting, editing a document, and IMing with a colleague.  With the proliferation of content and tools that coworkers and friends can “ping” us on it’s all too easy to lose focus.  With emerging technology employees must remember to focus on what needs to get done.  This means being able to put people and messages “over ice.”  Information bombards employees from every direction which means employees need to become adept at filtering out and focusing on what’s crucial.
What other qualities do you think are crucial for the modern employee?