Leading at the Speed of Thought

In this high-stakes game of survival, the most successful leaders will demonstrate the ability to simultaneously monitor these forces, measure their impact, and create new opportunities rather than wait for them to appear. The rules of business have indeed changedin a way that demands leadership at the speed of thought and the capacity to build measured, decisive, and inventive teams.

The New Rules of Managing Innovation

Marketing

1. THE DIGITAL WALLET CREEPS FORWARD

So far, the long-promised digital wallet has lagged behind expectations. Google Wallet, Square, Apple, and others have introduced electronic payment, loyalty, and couponing systems, but theres no single solution that works everywhere and all of the time. Dont expect anything revolutionary in 2013, but, at the same time, marketing executives should keep their eye on the wallet. We will see mobile payments trend upward in 2013, said Amanda McArthur, a partner at marketing consulting firm BuzzFarmers, in an interview with CMO.com. The most enticing component of the digital wallet, she said, is transactional marketing an area where Apple, in particular, is quietly making progress with its Passbook app. Theres no reason why businesses should be handing out pun ch-out loyalty cards when they can use customer analytics to build a loyalty program that segments their best customers and markets to them individually based on past purchase history, she added.

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3. SOCIAL MEDIA GROWS UP

Many marketers have turned to social media to promote their brands and dive into reputation management, so now the area is evolving rapidly. Loyalty programs, transactional marketing efforts, big data, and analytics are a few of the areas becoming enmeshed with social. As a result, CMOs need to consciously think about ways to capture consumer profiles and data

4. MOBILITY MATURES
The post-PC era has arrived, and any major organization that isnt investing heavily in mobile tools and strategies is DOA. The upcoming year will likely serve as a tipping point for organizations.

5. REAL-TIME MEDIA BUYING TAKES HOLD

The intersection of location awareness, social media, and mobility is finally delivering the ability to target customers with incentives and coupons at the point of decision-making. This is compressing buying cycles and creating the need for more agile thinking and actions. But these tools are also providing a powerful way to listen to customers and understand trends and micro-trends as they pop up.

Finance Enter Puddle. Puddle gives everyday people the opportunity to own a small virtual bank with their friendsno fees and no applications. Users decide on interest rates, who can be members, and who can borrow money. The best part: profits made from the interest rates paid by borrowers are distributed among group members. Puddle is a response from three of social entrepreneurs that have challenged traditional microfinance and suspect lending practices for more than a decade: Ashoka Fellows Solomon Raydn, Jean Claude RodriguezFerrera and Matt Flannery (Kiva co-founder and CEO). Raydn, Rodriguez-Ferrera and Flannery are supporting the self-financed movement, inspired by ancient lending practices generically known as Rotating Savings and Credit Associations (ROSCAS). Community groups around the world, though very poor, have proven their capacity to organize and sustain their own savings and credit system without having to go through the formal banking system. Puddle is bringing simplicity, convenience and transparency to a financial model that needs to be changed. It is not intended to replace formal banking. Its just an alternative for millions of normal people to use modern social networks to support each other financially. And social lending has been proven to actually work. A new study by the University of San Franciscosuggests that lending circles are a proven tool for credit improvement and can help to drastically reduce outstanding debt. Steve Jobs said that he created the iPhone because he did not like the phone he had. So if you dont like the service you are receiving from traditional banks or credit cardsbecause of, say, high interest rates or hidden feeswhy not join Puddle and create your own line of credit with some of your friends? Puddle launched late last year and is expanding rapidly. One example is the Ashoka Puddle that has already gathered 52 members among Fellows and staff and collected over $12,000 in capital. Some Ashoka Fellows are using it as a source to finance some cash flow problems.

HRM

1.GLOBALIZATION OF BUSINESS. - creating a global mind-set within the HR group, creating practices that will be consistently applied in different locations/offices while also maintaining the various local cultures and practices, and communicating a consistent corporate culture across the entire organization. -------------------------------------------------------------2. BUSINESS ALIGNMENT -considering the HR function not as just an administrative service but as a strategic business partner. Companies are involving the human resources department in developing and implementing both business and people strategies. ---------------------------------------------------3.MOBILE CULTURE - Communicate to all locations about a common corporate culture. - Allow local cultures to maintain their identity in the context of the corporate culture. - Establish common systems (e.g., accounting, marketing, MIS). - Provide management with education outlining how the company does business. - Create an organizational mission with input from all locations. - Create a written strategy outlining the corporate culture. ---------------------------------------------------4.NEW TECHNOLOGY IMPACT ON SKILLS REQUIREMENTS Technology-related skills Skills in identifying new applications of technologies Skills in developing new technologies, or advancing existing technologies Skills in identifying technological solutions to problems Operative/Technical skills Skills in operating new tools or equipment, or applying new methods/processes Skills in applying new processes or tools to existing work Skills in installing and maintaining new products, and Skills in manufacturing new products. -------------------------------------------------------------------------5.BUSINESS INNOVATION DEMAND ON MANAGMENT Management skills Skills in identifying which innovation outcomes are appropriate for commercialisation

 Skills in knowing when and how to market a new product, tool or process (or other innovation outcome) successfully Skills in securing intellectual property rights over innovation outcomes Skills in setting up efficient manufacturing processes for new products Skills in negotiating appropriate training provision with education and training providers ---------------------------------------------------------------------------------6.DEMAND FOR INNOVATION THROUGH TRAINING/DEVELOPMENT : * Building an educated and highly skilled workforce. *Becoming a leader in knowledge creation and innovation. *Developing linkages, clusters and networks to become a more integrated and networked local economy. *Fostering high levels of enterprise formation and business growth. *Becoming a globally focused and internationally integrated economy. *Creating a business environment and infrastructure base that facilitates business success. establishing a culture of innovations THRU #Co-operative Research Centres #Knowledge and Technology Diffusion #Technology, Research Parks and Precincts #Education #Commercialisation -----------------------------------------------------------------------------7.IT TECHNOLOGY DEVELOPMENT. -more systems / more software for the business means different methods of working, which affect the working human resources. HRM have to face / meet/ manage the human resources to deliver the results. -----------------------------------------------------------------------8.OUTSOURCING OPPORTUNITIES -the demand for cheaper labor forced the companies to seek more destinations in the underdeveloped countries. This created an enormous challenge to the HRM to seek/develop/manage overseas HR. ----------------------------------------------------------------9.DEVELOPING ECONOMIES GROWTH RATE -MAJOR ECONOMIC REFORMS -the rapid development of underdeveloped countries forced many companies to shift their production base overseas.This created an enormous challenge to the HRM to seek/develop/manage overseas HR. ------------------------------------------------------------------------10.RISE IN PER CAPITA INCOME -the rise in per capita income created more educated human resources. FOR HRM, IT WAS A CHALLENGE TO MAINTAIN/ MANAGE TALENTS.

IT

Information technology is concerned with improvements in a variety of human and organizational problem-solving endeavors through the design, development, and use of technologically based systems and processes that enhance the efficiency and effectiveness of information in a variety of strategic, tactical, and operational situations.

User Generated Content : Never before in history could any individual create a video, presentation, document or photograph and have a way to publish it to the world instantly, and for free. People now have the power to create any type of media they choose and share it with their friends, or the world in general over the Web. Citizen Journalism: Blogging, micro-blogging, and RSS feeds are just some of the tools that allows any person to become a news source to the entire Internet for free.Never before in human history could a human being witness an event, or have an editorial thought and had the ability to instantly share this with the rest of humanity. Real time news: Not only can any citizen with Web access now create and deliver news, but they also can do it in real time. In the case of television,what we have now learned is that there is a lag time between the news event, and when their reporters get there. Services like Twitter now allow any witness to news to deliver text and pictures within seconds of the event. Web-based rivers of information: Today, we can create raging rivers of information that include just about every thought leader on any subject, and we can get this information in real time. Social Tech gives us the tools to construct powerful collections of information that gets pushed to us on any device we choose, and we also have filtering tools in order to help us aggregate and weed out just the important nuggets each day. eCommunities : People for the first time have an instant ability to find others that have shared interests. Not only can you identify others that have formed a group that is like-minded, you can use services like Ning to instantly setup a group for any specific area of interest. Our new social tech tools can facilitate people communicating and sharing from any corner of the world Microblogging: Services like Twitter and Facebook have given people the ability to connect to streams of information provided friends and strangers. Each of these streams of information is a unique voice and collection of information that is delivered in real time.

Location based information: For the first time in history, we have the ability to interact with our environment without driving around aimlessly . Businesses can also identify where we are and send us information when we are in the neighborhood. We can use our smartphone to identify what we are looking at and bring in information that relates to our location (Augmented Reality or AR). With AR we can completely change how we relate to our current location Crowdsourcing : We have an explosion of sites like dellideastorm.com, mturk.com, innocentive.com, crowdspring.com, and logotournament.com as examples of how work can be completed in the future. Business people are now waking up to the fact that you can get work done over the Internet often by anonymous sources for a low amount of money, quickly, and with great quality. How to improve information technology involves quality planning, assurance, and control. To achieve these goals, practitioners of information technology identify quality standards and satisfy project performance. The activities of information technology should be related to satisfying relevant quality standards. Lessons learned from current technology can improve its performance. Technology should be improved by meeting customer requirements; and improving technology should be a continuous process. Thus technology improvement should relate to its functionality, features, outputs reliability and maintainability.

The Web of Things

Probably the most pervasive trend is the Web of Things, where just about everything we interact with becomes a computable entity. Our homes, our cars and even objects on the street will interact with our smartphones and with each other, seamlessly.

When Computers Disappear

When computers first appeared, they took up whole rooms and required specialized training to operate them. Then they arrived in our homes and were simple enough for teenagers to become proficient in their use within a few days (although adults tended to be a little slower). Today, my three year old daughter plays with her iPad as naturally as she plays with her dolls.

Now, computers themselves are disappearing. Theyre embedded invisibly into the Web of Things, into no-touch interfaces and into our daily lives. While weve long left behind loading disks into slots to get our computers to work and become used to software as a service hardware as a service is right around the corner. Thats why technology companies are becoming increasingly consumer driven, investing in things like native content to get us onboard their platform, from which we will sign onto massively online services to entertain and educate ourselves. The future of technology is, ironically, all too human.