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Thursday, October 10, 2013

Social business: Should leaders stand back or jump in?

Social business may be ready for the enterprise, but are enterprise leaders ready for social business?

Deloitte and MIT Sloan Management Review surveyed more than 3,400 enterprise leaders and managers around the globe to learn whether social networking and software are transforming their businesses. We found that many respondents use social technologies to better understand and connect with their customers. Others use social business tools to push employee interests, ideas and knowledge across the enterprise.

While 52 percent of the survey respondents said social business is at least somewhat important to their enterprises today, many leaders of organizations have not joined the trend. Are they wise to hold back? Or should they get started now?

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Doug Palmer, Principal, Deloitte Consulting LLP

Enterprise leaders are just beginning to embrace social business, and the survey indicates that many are enthusiastic about its value – especially in the media and technology industries. While others are cautious, more than 80 percent of survey respondents acknowledge that social business is likely to be at least somewhat important to their organization three years from now. If that’s the case, it’s important that leaders get to work now. Here’s how you can get started:

Align social business to strategy. How can social technologies and networks help you better serve customers, gain a competitive edge and achieve the business strategy? Design social business initiatives that directly support your business goals, but don’t expect an immediate return on investment. You should look to continually pilot new projects, measure results and adapt strategies to build the business case.

Assess where you are today – and where you want to be. Monitor and track what your employees, consumers and influencers say about your organization, brands, customer service and competition. Explore how business analytics can connect social data with enterprise data. This can help your organization move beyond understanding to influencing and anticipating behaviors.

Support effective adoption. Provide clear guidelines and training for employees so they know what they can and cannot say through external social media channels. Executives should also be trained on social technologies to help them more effectively sponsor social initiatives and use social tools to shape the organization’s culture to promote innovation and collaboration.

Prepare to act. Social conversations are likely to reveal brand, product and employee issues. Provide processes and resources for appropriate and quick responses.

For more insights, download the full survey report here.

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Services: Consulting
Overview: Technology

As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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Energy and business

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Is energy an expensive overhead cost or a strategic lever?

Energy is a critical input that no business can survive without. It is also an input for which the price is poised to be increasingly volatile due to a wide range of factors such as increased regulatory pressures, closure of aging power plants, commodity price volatility, high fixed costs, major capital investments and shifting supply and demand patterns. Yet, aside from trying to conserve, there isn’t much a business can do to control its energy costs and risks. Or is there?

Here’s the debate:

Energy is simply a cost of doing business.
We’ll pay whatever we have to pay, like always. And so will our competitors.The future will be different.
A variety of forces are combining to make the cost of energy – and perhaps even the availability – much less predictable than in the past. Leading companies recognize this trend and are managing energy as a strategic asset. Those that don’t may find themselves at a serious disadvantage in the marketplace.Our company is already conserving.
We have reduced our energy consumption through a variety of conservation initiatives such as replacing conventional light bulbs with compact fluorescents and using motion detectors to turn off lights when no one is in the room.

Conservation is just the beginning.
An effective energy management strategy must also consider:

Supply—the sources and cost of energy, both now and in the future.Demand—how much energy a company needs to use and how efficiently it uses it.People—how employees think about energy and how they can be engaged to manage it more efficiently.Investment policy—how to increase the returns on energy-related investments.Each of our facilities is already pursuing a broad approach to energy management.
Every operation is directly responsible for doing whatever it can to address its current and future energy needs.An energy management strategy must be enterprise-wide.
Different regions will be affected differently. An enterprise-wide strategy allows a company to improve results by scaling energy improvements across multiple operations. It also enables strategic decisions that transcend organizational boundaries, such as shifting production to locations where energy is more plentiful and affordable.We can’t afford to invest in an energy management program.
In today’s challenging business environment, survival is the top priority. We need to focus our time and resources on strategic issues that are critical to the business.You can’t afford not to.
An effective strategy for managing energy helps mitigate the risks of critical shortages and price shocks that could put your business at a competitive disadvantage – or even shut you down. But the required changes can’t happen overnight. It’s time to get started.

Rebecca Ranich, Director, Deloitte Consulting LLP

Andrew Clinton, Specialist Master, Deloitte Consulting LLP

Looking ahead, we expect the cost of energy to be less stable and predictable than in the past. Many of today’s older, less efficient power plants are already scheduled for shut down because it isn’t economically feasible to make them compliant with existing and expected regulations. New plants and infrastructure are being built or planned to ensure that supply will meet demand where and when it is needed; however, the cost of these major capital investments will be passed along to customers in the form of higher prices.

Shifting supply and demand patterns are likely to create an uneven impact across the country; for example, the move toward alternative energy sources may create a bias for new baseload power investments that rely heavily on a natural gas fleet, putting pressure on natural gas supplies. Factor in the unpredictability of commodity prices and government regulations and it’s clear that uncertainty may be the only thing that’s certain.

To insulate your business from energy-related challenges and price shocks, it‘s essential to develop a broad energy management strategy. Here are five key steps to help you get there:

Assess energy across the enterprise. The path to higher efficiency begins with gathering and consolidating data from different silos within your business. An enterprise view helps you establish an internal baseline for measuring and monitoring the impact of your energy strategy, supports external benchmarking and makes it easier to define energy goals that align with your overall business strategy. It also shifts the focus from individual energy projects to broader programs that treat energy as a strategic asset.

Find the hot spots for improvement. Some business operations require more energy than others. For example, it takes more energy to melt sand into glass than to freeze ice cream. So it’s not really a question of which operations use the most energy, but which operations use more than they should? By tracking and analyzing data across your facilities and processes – and then comparing apples to apples – you can identify and prioritize the areas with the high-quality potential for improvement and that offer the high-quality return on investment for your business.

Map to existing solutions. Most improvement opportunities can be addressed with solutions that already exist today – whether it’s a new boiler, a more efficient chiller or expanded employee training. There’s no need to wait for a silver bullet. Also, most energy-efficiency projects deliver an attractive ROI, especially when risk is factored into the equation.

Optimize projects to achieve goals. With numerous energy-related projects competing for limited capital, you need to prioritize effectively, paying particular attention to sequence and timing. Precision is essential. For example, instead of assuming that energy prices will rise uniformly across the entire enterprise, look at current and forecasted energy costs for individual locations. Also, be sure to consider benefits beyond the bottom line, such as improvements to your carbon footprint and brand image.

Execute and measure results. Use your baseline data and investment plan as reference points to assess whether or not you are getting the results you expect. Make sure employees understand how their behavior affects energy use and what they can do to help implement and sustain the improvements. Aggressively scale successful improvements across the enterprise in order to leverage the potential ROI benefits.

In the old days, many companies didn’t have an IT strategy; now, IT strategies are a standard operating practice. The same will likely hold true for energy management. Companies that develop enterprise-wide strategies for managing energy can gain a critical advantage over the competition by improving their energy efficiency and insulating themselves from price increases. Those that don’t could be leaving money on the table and exposing themselves to unnecessary risk.

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Services: Consulting, Sustainability & Climate Change

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Understanding the economics of a business: Top down or bottom up?

The world's largest, savviest investment firms value a company by looking at the returns it generates above and beyond the cost of capital. Yet many companies still run their businesses based on traditional accounting and operational metrics that don't explicitly consider the cost of capital and assets. Should you follow the lead of sophisticated investors and apply a value-based approach to managing your business? And if so, what's an effective way to do it?

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You’re doing fine. Why change?
Traditional accounting and operational metrics tell you everything you need to know. The bottom line is your business is growing, and you’re making a healthy profit.You don’t know what you don’t know.
Many companies that are growing and profitable could be introducing new products and engaging in business activities that destroy shareholder value. A value-based approach will reveal the truth, so you can focus on activities that generate high returns (and cut back on those that don't).The truth hurts.
Value-based analytics may reveal that some of the activities you have been pursuing and actively promoting aren’t actually worth doing. That could be a little embarrassing.What have you done lately?
Past performance is fine, but what your boss (and company shareholders) really care about is what you are doing now to create or preserve value. A value-based approach to managing your business can help you generate heroic returns.Change starts at the top.
The fastest way to implement a value-based approach – and see tangible results – is to start at the enterprise level, examine the high level drivers of business performance, and then focus value-based analytics in areas with the greatest potential for improvement.Bottom up is best.
Implementing value-based analytics at the individual transaction level is the most rigorous approach, delivers results that are the most precise, and creates a new mindset in the company.

Frank Borgsmiller, Principal, Deloitte Consulting LLP
Richard J. Hayes, Principal, Deloitte Consulting LLP

Business leaders often talk about enterprise value. But in our experience very few can actually pinpoint the value contribution of individual business segments, products, and customer groups – making it hard to know where a company should focus its efforts and investments, or if a business unit strategy needs to be refreshed. A big part of the problem is that accounting- and operations-based measures do not always reflect economic reality. For example, reported earnings don’t show returns in excess of the cost of capital, which is the truest measure of value creation.

The ideal way to implement a value-based approach is from the bottom up – establishing processes and systems to quantify the value contribution of individual transactions, and then rolling up the results as needed. This enables you to aggregate the data any way you want -- by region, business unit, product, customer segment, etc. – all with transaction-level precision.

Of course, some companies may not have time for a rigorous, bottom-up approach. They need results – and they need them now. These companies might be better off with a top-down approach that can quickly identify and home in on problem areas with the most potential for immediate improvement. Although the results will likely be less comprehensive and precise than with a bottom-up approach, they could still be a huge leap over what traditional accounting- and operations-based metrics can deliver.

Whether you start at the top or bottom, the destination is the same: using value-based analytics to manage performance at every level of your business. Only then will you truly know which activities are creating or destroying value.

Library: Deloitte Debates
Services: Consulting
Overview: Pricing and Profitability Management
Industries: Process & Industrial Products, Consumer Products

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The business of innovation: Art or science?

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Creating and successfully commercializing innovations is tough. But does success lie in following a systematic process – or does it spring from experience-based intuition?

How do you spot a viable business innovation? Some take an analytical approach, studying strategic plans, business models and growth projections. Judgment enters into the equation, but the facts define the parameters of the choices you face. Others lead with an intuition shaped by their experiences. Sure, the numbers matter, but only at the margin: a lousy plan is likely to fail, but only the ineffable insights of a seasoned entrepreneur or business leader can identify what is most likely to succeed. Where do you put yourself on the “science vs. art” continuum?

Here’s the debate:

Innovation is a science first and an art second.
Innovation is a systematic process that can be learned. We can get better at it and the difference between good and great is dedication and commitment.Innovation is, at its core, an art form.
Great innovators are born, not made. We might all be able to improve, but greatness is innate: you can spend years as an apprentice to a master sculptor, but if you weren’t an artist when you arrived, you won’t be one when you leave.Careful research is revealing the underlying laws of successful innovation.
The academic and consulting communities have built a vast library of case studies of successful and failed innovations and provided insightful frameworks for extracting general principles. Learning from the past and improving over time is a defining element of a science.The research isn’t making progress; it’s running laps.
Our insights into innovation, like our perspectives on art, don’t get better. They just change over time in predictable cycles. Just like art, two people can examine the same data and come up with completely different views on the merits. In the end, it’s always more about what you feel than what you think.Ultimately, which innovations succeed is not determined randomly or by the gods.
What works is governed by rules that we can discover and apply. With the right information and frameworks, you can pick innovations that are more likely to result in a sustainable business than you can by following your gut.There are rules – but they change faster than we can discover them.
Innovations must succeed in a dynamic marketplace where competitors are constantly trying to outwit you. If there are rules, your competitors can figure them out, too – and then behave in ways that violate them in order to undermine your plans. Success demands acting on the basis of insights that can’t be anticipated by others. If there are rules, your best odds may lie in breaking them.

Michael E. Raynor, Director, Deloitte Consulting LLP

Innovation remains an art form…but there’s a chance it will become a science.

Whether innovation is more artistic than scientific tends to turn on the processes people advocate as most effective in its pursuit. Each admits the importance of the other, but proponents of “innovation as art” argue that the critical input is the intuitive and idiosyncratic judgment of experienced people. The “innovation as science” side says the input that matters most are the data and the structured approach used to come up with the idea.

It’s worth noting, however, that in focusing on processes – on inputs – to innovation, much of the conversation ignores an examination of which approach actually works. It is only through an examination of results, of the outputs of different approaches, that one can make true progress. It’s not so much about whether innovation is a science or an art, but about taking a scientific approach to answering that question.

Unfortunately, there is very little research on innovation that accepts this challenge. Most frameworks and theories are supported solely by an analysis of the past, with very little (if any) attempt to demonstrate any meaningful predictive power. And until there is some indication that a given approach to innovation can improve predictions, innovation is destined to remain an art.

I tackled this head-on in 2009 and 2010 by conducting controlled experiments to test the predictive power of different approaches to evaluate the survival odds of early-stage businesses. Test subjects were asked to predict outcomes based on whatever approaches they felt might be appropriate. The results were no different from random chance. When test subjects were instructed on a specific framework – Disruption theory – and were directed to use that framework on a new set of business plans, they improved their predictive accuracy by as much as 50 percent.

These results show that it is possible for a systematic approach to deliver demonstrably improved outcomes. And so, just as medicine has been transformed from an “art” to a “science” over the centuries, progressing from bloodletting to CAT scans, we can have hope that innovation, too, can be transformed from art to science.

By focusing on the output – predictive accuracy – we learned that entrepreneurs and investors can improve – but unfortunately, not perfect – their ability to predict which innovations will be viable in the marketplace. This predictive quality is the distinction that places innovation in the realm of science.

Library: Deloitte Debates
Services: Consulting
Overview: Strategy & Operations
Industries: Life Sciences, Technology, Telecommunications, Consumer Products, Process & Industrial Products

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Gamification: Should business take games seriously?

Gamification—the application of game-design principles to non-game situations—is gaining traction among businesses that want to engage employees and customers. But can games help solve critical strategic challenges? And can they actually address serious business problems?

Many companies are applying the essence of games—fun, play and passion—to real-world business situations as a way to influence behaviors in everything from back-office tasks and training, to sales management and career counselling. Using game attributes that resonate with their target audiences, companies can often achieve higher performance. That’s all well and good for employee and even customer engagement, but can businesses apply gaming principles to solve more serious challenges – like strategy development and innovation?

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Andre Hugo, Director, Deloitte Digital RSA

We talk to many companies that want to implement game dynamics to enrich training, staff engagement, customer service and loyalty programs. But gaming can provide an even bigger opportunity for the broader business strategy.

Generally, it takes decades for leaders to gain the knowledge, skills and experiences to effectively develop and apply business strategies. Even with mentoring and rotating management assignments, developing effective leadership skills usually takes years. However, game-like simulations can expose current and future leaders to many real-world business scenarios and accelerate their learning.

For example, one client was concerned that retiring Baby Boomer executives with decades of supply chain experiences would leave a knowledge gap within the organization. They were challenged to capture this institutional knowledge so less-experienced managers could gain access to it. Using executive insights captured through interviews, they employed a 2-D, scenario-based game that was designed to allow participants to make real-world business decisions and quickly see likely outcomes.

This game proved invaluable as a strategic management tool following the 2011 tsunami. Within 24 hours of the disaster, the game was remodeled to remove Japan from the company’s supply chain mix. Based on previous experiences already embedded in the game, managers simulated what they could do and couldn’t do, allowing them to respond quickly with a new supply chain solution.

Strategic games hold potentially large benefits for businesses. First, employees moving up the ranks can test management approaches in a low-risk environment and accelerate their learning. Second, managers have a tool that’s available round-the-clock to test drive decisions in a simulated environment before they commit to any real-world action. And that’s when using games can help people solve serious challenges.

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Overview: Technology

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The CIO’s role in business innovation: Sustain or disrupt?

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Would leaders improve the odds of creating value by focusing on risks associated with a mergers and acquisitions (“M&A”) transaction? Or by generating strategic opportunities to seize the moment?

You’ve probably heard that many, if not most, M&A deals sap shareholder value. It’s no wonder leaders approach a transaction with a wary eye—even when it holds the potential to open the door to new markets, fill gaps and improve operational capability. Would leaders shift the odds in their favor by focusing on mitigating the risks? Or by rallying others around new opportunities?

Here’s the debate:

Leadership’s job is to mitigate risk.
M&A is a risky proposition that’s fraught with potential failure. It’s leadership’s job to make sure the value proposition is clearly defined and flawlessly executed.Leadership’s job is to seize the opportunity.
M&A is a high impact, high value tool that brings a wave of opportunity. Leadership’s challenge is to deliver results through an organization that enthusiastically serves the mission.This is serious and risky business.
Leaders must relentlessly protect the value proposition by making sure the deal is grounded in sound strategic and economic rational. This requires heads-down execution from all leaders.Opportunity is the name of the game.
Agreed, business is serious and risky, but who can lead from a position of fear? Leadership in times of great opportunity is very different from excellent management.Livelihoods could be threatened. Better to keep our leaders off the grid until plans are pinned down.
People hear “synergy savings” and think “layoffs.” Better to keep the lid on until it’s time to act.We are about to delight our shareholders, thrill our customers and markets and supercharge our organization.
Staying off the grid creates a destructive mindset. Instead, effective leaders frame the conversation to reflect the opportunity. They do not abandon the market, the people, or the message.Our strategy and operating model work. Why increase risk by considering something new?
It’s faster and obviously more efficient to adopt the acquirer’s operating model as the go-forward strategy.A merger provides a rare opportunity to create a new business-as-usual.
By drawing the best from each organization, leaders have an opportunity to deliver value through greater scale, differentiated offerings and increased efficiencies.My take

Kevin Knowles, Principal, Deloitte Consulting LLP

In the community of executive leaders, only a small percentage ever get the opportunity to truly reshape a business and an organization. Leading through transformative events is a unique mission and in many cases, one of the most significant professional experiences for leaders. Not only is it hard work that exercises every ounce of a leader’s credibility, authority and vision – it’s also a new environment for most leaders.

There’s no denying that successful integration requires rigorous analysis, disciplined planning and precisely executed integration plans. Relentless attention must also be paid to retaining customers and key talent, addressing supplier and vendor concerns and setting shareholder and analyst expectations. Risk-mitigating activities are necessary management efforts and leaders should hold themselves accountable for these results.

During integration, there is also distinct value provided by leaders who have the ability to methodically inspire, engage and empower. Transformative leaders create momentum through their words and actions. They set the rhythm of testing and revising the opportunities. They leverage their credibility and vision with every interaction across every stakeholder. And they thrive in the test of leading purposeful change.

M&A presents many leadership opportunities. My challenge to executive leaders heading into a transformative phase of their organization’s lifecycle is to get precise about defining effective leadership performance and identify who you will lean on to demonstrate transformational leadership. It’s an opportunity too often squandered in the frenzy of M&A.

Library: Deloitte Debates
Services: Consulting, Mergers & Acquisitions
Overview: Human Capital

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The business value of water: Precious resource or cheap commodity?

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In most developed nations, clean, safe drinking water is so cheap and plentiful that we use it to wash our cars. And our idea of a ‘drought’ is when we are only allowed to water the lawn every other day. But, from a global business perspective, is water really something we can afford to take for granted?

Here’s the debate:

Water is plentiful and virtually free.
Any time we turn on a faucet, clean drinkable water comes pouring out. And most businesses in the U.S. today don’t appear to be suffering from an immediate water shortage. Moreover, the cost of water is so low right now that it’s just noise on the P&L statement. So what’s the problem?Water is the ultimate renewable resource, but it’s not unlimited.
The Earth doesn’t create new water – it just continuously recycles the water that already exists. If our need for clean water exceeds the planet’s natural capacity to regenerate it – or we pollute our water sources beyond repair – businesses could face severe shortages, increasing prices or loss of access to water.Water is essential for life.
The human body is 90 percent water. We can survive for three weeks without food, but only three days without water. In some parts of the world, people are literally dying of thirst.Water is essential for business.
Without water, companies can’t run their factories and supply chains. And for certain types of companies water is a critical component and part of the manufacturing process.Competition for water is rising.
As population increases and as developing nations increase their consumption, demand for water is on the rise. When rising demand meets limited supply, the result is fierce competition.Business use can be a low priority.
When allocating water, the top two priorities are supplying people with water to drink and providing farmers with water to grow food. Business use is a distant third. In many countries, these allocation priorities are enforced by law.Water is just a compliance issue.
Although water might be a problem in other parts of the world, many companies in developed economies only worry about water to the extent they must comply with government regulations.Water is a strategic business issue.
Global companies are relying on developing and emerging markets for growth, which makes water a strategic business issue and major risk factor – even if water is cheap and plentiful at home. Companies that use too much water can have their licenses revoked, their operations disrupted and their brands damaged.

William Sarni, Director and Practice Leader, Enterprise Water Strategy, Deloitte Consulting LLP

Many companies today take water for granted – especially in developed countries. However, we believe water is quickly becoming a strategic business issue and that companies should act now to mitigate the potential risks.

Competition for water is rising fast, thanks to global population growth and the emergence of developing economies that aspire to our high-consumption lifestyle. Meanwhile, the supply of clean, safe water is shrinking. Underground sources that have been accumulating for thousands of years are being sucked dry and surface sources are being steadily destroyed by urban development and pollution.

When water is cheap and abundant, most businesses don’t give it a second thought. But when demand exceeds supply, the true value of water quickly becomes apparent -- especially since business use takes a back seat to more fundamental uses such as drinking and farming.

You might be offended if a restaurant tried to charge you for a glass of tap water. But what if that were the only water available in the middle of a desert? Now how much would that glass of water be worth?

Another way to understand the value of water is to think about it in terms of an energy such as oil, which is something everyone realizes is important and worth conserving. On one level, water and energy can be viewed as equivalent and interchangeable. It takes water to produce energy – whether it’s to spin the turbines in a dam, generate steam to release oil from shale or cool a nuclear power plant. Conversely, it takes energy to produce clean water, whether it’s to pump water out of the ground, power filtration equipment, or fuel a delivery truck to deliver bottled water to consumers.

On another level, our supply of water is even more valuable and volatile than our supply of oil. Unlike oil, which is a global resource, water is a local resource whose availability is dictated by local factors such as weather and competition with other users in the region. In an oil shortage, the price of oil goes up but you generally can still get as much as you need if you are willing to pay the price. On the other hand, in a water shortage the water your business needs may not be available at any price because it is being allocated to other more critical uses in the area. In India, for example, businesses have had their operating licenses revoked in order to provide more drinking water to the public. And in Africa, some beverage companies routinely shut down for months at a time due to lack of water.

Reputational damage is also a major risk, especially in markets where water is precious and scarce. Driving a full beer truck past people whose children are dehydrated is no way to create a positive brand image.

Given these risks, it is essential for companies to develop a holistic strategy and plan for reducing water usage, protecting and preserving the water supply and developing contingency plans to ensure business continuity in the event of a severe shortage. In this day and age, smart companies wouldn’t dream of operating without a risk management strategy for critical resources such as information systems and energy. It’s time to think of water in the same way.

Library: Deloitte Debates
Services: Consulting, Sustainability & Climate Change

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When crafting corporate strategy, should social business be bolted on or baked in?

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Many companies recognize that social business offers new tools and rules for competing in the marketplace. But should social strategy be integrated into the overall corporate strategy? Or should it stand alone?

Social media has amplified customer and employee voices to levels that companies can ill afford to ignore. Today, leading companies are not just listening, but responding – fast. So what’s next? Incremental improvements may not be enough to sustain your market leadership – it may be necessary to embrace the fundamental shift brought about by social business to "change the game" in your industry.

To this end, some enterprises are positioning social business as a stand-alone discipline that informs their corporate strategy. Others see social business as possessing the power to transform business and disrupt industries – and they are diffusing social business throughout their overall strategy. Which approach should you take to put this trend to work for your organization?

Here’s the debate:

Bolt it on.
Social business can more effectively serve the enterprise as a stand-alone discipline, employing sophisticated tools and dedicated resources. Until it is a more mature discipline, social business deserves a page in the corporate strategy book, but shouldn’t replace it.Bake it in.
Social business possesses transformational powers that could disrupt entire industries. Considering people, process, technology - and their convergence – from the start can allow strategists to plan smarter.Leadership’s not convinced.
Executive management is not willing to bet the farm on social – and who can blame them? A smarter approach tests social initiatives in isolated areas and builds from there. If the value is there, you can eventually build a business case that can get leadership’s attention.How much proof do they need?
In many organizations, sales and marketing are already believers in the power of social initiatives, with human resources, recruiting and product development following close behind. But these strategies in isolation are not as powerful as they are together and not likely to generate the potential synergies of a broad strategy.Social business supports small steps.
Sure, social business can improve collaboration and productivity. These incremental improvements are worthwhile pursuits, but they are not going to revolutionize our business.Social business supports big leaps.
Social conversations can trigger expansive, new ways to think about your business and enable innovation. There can be value in serendipity. Breakthrough ideas often come from unexpected places.Why take on a transformation project when a social networking page will do?
It's the domain of marketing and public relations today and they have it handled with our social networking pages and social media accounts.That’s postponing the inevitable.
Even on a small scale, you’ll need people to manage systems and interactions – not to mention security and integration issues that are likely to occur. Plan to disrupt or risk being disrupted.My take

Chris Heuer, Specialist Leader, Deloitte Consulting LLP

Can social business deliver more potential value when it’s baked into a company's strategy, or when it stands alone? The answer varies from industry to industry, but if you want to increase the chance to win, bake it in and enjoy the sweetness of a warm chocolate chip cookie. Consider changing your thinking and then changing your strategy, to meet the changing dynamics of the market. Make big bets – but make them smart bets – to out-compete others in your marketplace.

For example, the risks and rewards for consumer-facing companies are often clear, so their social initiatives tend to be more far reaching than those of business-to-business companies. And, regardless of industry, collaborative cultures are more likely to create greater value, improve performance and enable you to retain talent.

You can start from where ever you are. If your organization has leadership support and a track record of effective bottom-up social initiatives, think big. How could your core processes and capabilities be reinvented to create more value, more quickly, in a society that’s interconnected by expanding social networks?

But if your organization is not ready to incorporate social business strategy across the enterprise, start small. Focus on building a solid business case based on results that are measurable and attributable. Stand-alone initiatives – with the big picture in mind – can be used to introduce a social mindset to leaders and employees that supports enterprise-wide collaboration and idea sharing, paving the way for more broad social strategies.

Sometimes it’s important to do something first, but often it’s more important to do it well. Companies that do social business well – building corporate strategies that align the passions of their people with the needs of their customers – hold the potential to not only capture their market, but to create passionate, loyal customers AND engaged employees.

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Overview: Technology

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Sunday, September 22, 2013

Telecom Italia's Bernabe says business plan comes first

Franco Bernabe, Telecom Italia chairman and CEO, poses in his office in Rome, April 19, 2013.

Credit: Reuters/Alessandro Bianchi

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Monday, September 16, 2013

SunEdison files to spin off semiconductor business through IPO

n">(Reuters) - SunEdison Inc filed with regulators to spin off its semiconductor business, SunEdison Semiconductor, through an initial public offering of up to $250 million.

The solar company had said last month it would sell a minority stake in its newly formed semiconductor unit through a public offering scheduled for early 2014.

The semiconductor materials business makes wafers used in chips for computers, mobile phones and cars.

Missouri-based SunEdison told the U.S. Securities and Exchange Commission in a preliminary prospectus that Deutsche Bank Securities and Goldman Sachs are the lead underwriters to the offering. (r.reuters.com/tux82v)

The filing did not reveal how many shares the company planned to sell or their expected price.

SunEdison Semiconductor intends to list its common stock under the symbol "WFR". The company did not disclose which exchange it would list its stock on.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

(Reporting by Aman Shah in Bangalore; Editing by Sreejiraj Eluvangal)

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Sunday, July 14, 2013

Master Business Administration (MBA) in Belgium

More and more professionals are trying to make their careers a jolt by signing up for Master Business Administration (MBA) programmes. After reading this article you will learn how to select a MBA programme, what is MBA rankings and where to find MBA courses in Belgium.

In our time the idea of returning to school after ten or more years as a prosperous international executive looks rather strange for some people, but every year many working specialists are deciding to do this with other MBAs and executive MBAs.

The market in executive business education has developed a lot in recent years. By the experts' estimation, there are over 3,500 various programm?s all over the world that provide an opportunity for students to earn a Masters in Business Administration.

MBAs are just one way open to executives looking to give their careers a motivation. Potential students can sign up for executive education business courses, choose for part-time or full time studies, learn about management sciences, or take training in-company.

By reason of such a wealth of choice, the big question for everyone, who is planning to spend pot of money on some mid-career education is, of course, which programme is the best one for me?

You have to find out if a particular business school has received formal recognition from the other relevant academic authorities both in the country where it is located and internationally.

For example, VLMGS is postgraduate studies of two of most biggest and most respected universities in Belgium - the Gent University and Catholic University in Leuven. This one fact guarantees its national repute.

When it comes to the recognition of other countries, the school has been approved both by the UK-based AMBA quality accreditation system by EQUIS and for MBAs, the European management school approval system.

The other good way to estimate a MBA programme is to find out whether it is included on a respectable business schools ranking table. The two best-popular and significant rankings are published every year by the UK's Financial Times newspaper and by the Economist.

Data in these two rankings are laid down in several ways - both have a simple Top 100 list of MBA programmes all over the world. Clearly the academic approval is more important from a scientific frame of reference, but the rankings are important too.

Expatica: http://www.expatica.com/be/education/higher_education/back-to-the-classroom-4785_8437.html

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Saturday, July 6, 2013

Rock & Role: GC Finds Solid Ground in Stone Business

Christian A. "Chris" Garza
Photo: John Everett

While a Yale Law School student, Texas native Christian A. "Chris" Garza says he never imagined he'd be doing the work he does today.

"In law school, you didn't really know what in-house practice was," says Garza, director, general counsel and secretary for Cosentino North America in Houston. "At Yale, most aspire to become politicians or professors or law firm partners."

Cosentino is a privately held business that manufactures and supplies stone and quartz construction surface products such as bathroom and kitchen counters. The company has manufacturing facilities in Europe and about 700 employees in the United States in warehouse, fabrication and display centers, he says. Garza joined the company in January, and his legal department includes one other lawyer and three nonlawyer managers.

But initially, like many of his classmates, Garza imagined himself working toward partnership at a law firm.

Garza grew up in San Antonio and earned a bachelor's degree in liberal arts and government at the University of Texas in Austin.

"I always wanted to be a lawyer; my dad was a lawyer," he says. His father, Richard Garza, of the Law Offices of Richard L. Garza, practices family and personal injury law in San Antonio. "I met a lot of lawyers growing up. I always wanted to be like my dad."

After graduating from law school in 2001, Garza worked as an associate with the appellate group of Vinson & Elkins in Houston where he had been a summer associate. He was with V&E for almost a year before beginning a one-year clerk's position with 5th U.S. Circuit Court of Appeals Judge Carolyn Dineen King in Houston, who was then the chief judge.

After the clerkship he joined King and Spalding in Houston where the firm was developing an appellate group.

About four years later, in 2007, Garza decided to make a career change.

"I realized appellate practice was not best suited for my personality and skill set," he says. "I enjoyed writing — but not 90 percent of the time. I wanted more interaction with clients. I wanted to get more business knowledge."

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Thursday, May 16, 2013

Ken Cuccinelli wants to scrap local business taxes - Washington Post

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The Post’s ViewKen Cuccinelli wants to scrap local business taxes By Editorial Board, Editorial BoardMay 15, 2013 12:31 AM EDT

The Washington Post

IF HE’S ELECTED governor of Virginia this fall, Ken Cuccinelli II (R) promises $1.4?billion (at a minimum) in state tax cuts, though he neglects to explain how he would do so without reducing funding for services that rely on state government.

Little noticed but also damaging, Mr. Cuccinelli’s “plan” — so far, it’s just a one-page press release — would likely force counties and cities to increase local real estate taxes. Where else could they turn to replace some $900 million in locally imposed business taxes that Mr. Cuccinelli also wants to eliminate?

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His Democratic opponent, Terry McAuliffe, has also taken aim at those local taxes, but he at least would give localities the option to replace them with other (unspecified) levies that he’d have Richmond authorize. Mr. Cuccinelli’s plan isn’t about options; it’s about mandates.

The main locally imposed tax in Mr. Cuccinelli’s cross hairs is the Business Professional Occupational License (BPOL) Tax. Businesses dislike that it’s imposed on gross receipts rather than profits. But the BPOL has been around for 200 years; local governments have come to depend on it. So if the state eliminates it, localities would need to replace the lost funds and, unless the state acts, they’d have little option but to raise real estate taxes.

For example, in Fairfax County, the BPOL (plus another small tax Mr. Cuccinelli would scrap) yields about $164?million annually. To compensate for that revenue, county officials say, they’d be forced to add $373 to the average homeowner’s tax bill.

Mr. Cuccinelli insists his plan would be revenue-neutral on both the state and local levels. On the state level, he says he’d find money by eliminating (unnamed) corporate tax breaks. But competition among states to attract investment, and the clout of entrenched interests, make it doubtful he could meet that goal.

Mr. Cuccinelli says he would protect public schools and other local government functions from the effects of his tax-cutting, but once again his plans for doing so are unknown. One idea popular among some conservatives is to broaden the sales tax, to cover currently untaxed services such as haircuts, amusement parks and services by cosmetologists, lawyers, accountants and consultants, and to pass that revenue back to the locals. But that plan, too, gores so many interests that it’s long been regarded as politically impossible.

If Mr. Cuccinelli has another idea, he’s not saying — beyond punting the problem to a commission after he takes office. During the campaign, he promises tax cuts. After the campaign he’ll assign someone else to give them the bad news — that other taxes will have to be raised.

If, as he says, Mr. Cuccinelli has a blueprint to hold state and local revenues harmless, Virginians deserve to hear it.

Read more from Opinions:

The Post’s View: Ken Cuccinelli’s economic magic with Virginia taxes

The Post’s View: Ken Cuccinelli’s airbrushed policies

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