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by Tom

Leadership Wrap-Up

Dezember 15, 2011 in Financial Services, Investment Banking, Private Banking, Success Stories

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So to wrap-up all of these practices into a short but comprehensive summary:

  • leaders create an environment of active mutual support.
  • And any environment is only defined by what we create, promote or allow.
  • In that sense leadership has nothing to do with organizational rank or financial powers but all to do with your inner wiring and worldviews.

You can start leading today. Just don’t believe everything you think.

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Stories – the leadership conversation

Dezember 9, 2011 in Financial Services, Investment Banking, Private Banking, Success Stories

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But how can you determine a good leadership conversation? Practiced and mature leaders have established a solid social identity through conversations and they apply the following:
- They challenge business as usual and think beyond what’s deemed appropriate and possible
- In speaking for the future they inspire alignment along a shared vision
- They are enabling others and foster collaboration amongst teams and individuals
- They model the way, act as a role model and “walk the talk”
- And they encourage the heart in recognizing success and celebrating it

Obviously putting this guidance into practice will not be straightforward and you will have to be prepared to deal with setbacks and iterations. And that is the crucial point where you really can make a difference. Whenever you and your team commit to a new possibility and run into an obstacle you can choose a response in both speaking as well as acting. So whatever you say or do will either perpetuate the status quo or move you further on the path towards your objective. And to do the latter it is best to seek the active support of your colleagues and to reaffirm the commitment originally pursued. It is this spiral of setting an ambitious objective and dealing with setbacks that takes time and perseverance. To honor this path you will have to take a clear stance towards what you consider realistic and ambitious: “A true leader always speaks respectfully about the past, realistically about the present and optimistically about the future”, says Jack Weber, Professor of Business Administration at the Darden Graduate School of Business at the University of Virginia. In his over 20 years of researching and teaching leadership Jack and his wife Carol have helped many global organizations to manage the transformation towards a leadership driven culture.

Another practice that differentiates the leader from the manager is how this positive attitude towards a great future is established. While managers usually make assertions, leaders make declarations. An assertion is something that can be underpinned by a plan and usually can be proven. And though this is certainly required for many administrative tasks it will not promote thinking outside the box of your trained worldview. When JFK dreamed of putting a man on the moon within a ten-year time frame, people didn’t think it would be possible and he himself had no idea how it could be done. But still in declaring this visionary possibility and by repeatedly re-asserting his commitment to that endeavor he was able to motivate and align a whole nation to work towards a glorious target. And it’s these BHAGs – big, hairy, audacious goals – that fuel many amazing leadership feats. Take for example the young team that decides to turn an average fish stand in a Seattle open air market into a buzzing, thriving and globally known example of business leadership (check out the great videos at http://www.pikeplacefish.com/). Obviously you will have to determine and pursue your own BHAG and be sure to keep a firm grip on it during setbacks and disappointments. One fact that can also help you through these difficult stages is the statistic, that true innovation adoption only requires a mere 16% of critical mass. In his book, “The tipping point”, Malcolm Gladwell outlines how new ideas and trends become mainstream. Usually only 2% of any sizable population can be considered pioneers, who take on risk and try out new ideas early. Another 14% can be considered early adopters who observe and evaluate the experience made by the pioneers and are eager to still obtain a fast-mover bonus in utilizing new trends and technology. And once you have convinced those 16% you will enter the mainstream and late adopters usage patterns where existing trends propel themselves without the need to be actively pushed forward.

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by Tom

Understanding world views

November 25, 2011 in Financial Services, Investment Banking, Private Banking, Success Stories

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To understand the nature and power of ones world-views is an important element in judging, whether an action is fit to lead. We are wired to our experiences and prejudices. What we have seen and learned during our lives determine in large parts how we react to similar or related situations. Mostly this happens beyond our conscious thoughts and without any reflection – whether you judge a clear and loud statement at work, as being rough or firm could be such a wiring. Whether you understand actively selling products to people as a genuine service or as a pushy and questionable practice would be another example. In that sense world-views govern the attitude of people, govern what they think is appropriate or possible. And this attitude in turn rules their behavior and thus guides them towards compliance or commitment.

And while we hardly ever reflect upon our own world-views, they play a large part in who we are as leaders. To a certain extend our world-views form the infamous box that creative minds ask us to think outside of. Past events and experiences have formed rules and stories and conclusions inside our head that we use to interpret and evaluate new events. In our regular day-to-day thinking we are limited by this box and training your mind to extend beyond its borders is called “possibility thinking”. Carol C. Weber of The Cahill-Weber Group leadership institute links this to her favorite saying: “Don’t believe everything you think.”

Leaders have to be aware of role world-views play when they interact with their staff but they should refrain from trying to change people’s world-views. What good leaders can do is to create new experiences and realities that drive their employees to adopt and extend their past views. This approach follows in large parts the famous advise that if you want to build a ship, you shouldn’t order your staff to draw up a plan, cut down trees and sew new sails but instead awake in them the longing for the sea.

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Management vs. Leadership

November 21, 2011 in Financial Services, Investment Banking, Private Banking, Success Stories

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First of all you have to be aware, that management and leadership are not mutually exclusive but instead management is the foundation of discipline and rules and values that leadership is built upon. You cannot become a great leader without the proper respect of just what it takes to formally run a company, achieve commercial objectives or organize a work force effectively. But in turn to excel in all of these areas does not inspire a vision or nurture creativity – to do that, you will need leadership.

And while management skills should not be eliminated or neglected they can be counter intuitive to developing your leadership skills. Trained and conditioned to rely on knowledge and facts and to measure progress with hard numbers we are often caught on our wrong foot when dealing with people. Leadership on the other hand needs to work with values and world-views, terms that will sound fuzzy and hard to grasp and rarely can be measured in hard facts. And while motivation can be an indicative gauge to judge the effects of a leader’s actions it is not the purpose of leadership to motivate staff. Rather can successful leadership instill a sense of purpose and direction that helps your staff to tackle their work motivated and with an inner drive. As a direct definition you could derive that leadership is about altering what others think that is appropriate and possible.

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Do you like crowds – you may learn to yet…

Oktober 7, 2011 in Success Stories

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After crowd-sourcing has been a very much hyped concept for years the idea gets more and more down-to-earth use-case. Besides the ever cited crowd-funding and crowd-innovation platforms a small team hosted at The Hub Zurich has come forward with yet another cool spin: Crowd-Logistics

Just think about turning your daily commute into a vibrant piece of a (more) sustainable supply chain and at the same time generating some pocket money on top. If that sounds like a sensible and brilliant idea – it does to me – we could see the next AirBnB in this thrilling new start-up. For more details check out PolyPort directly.

I certainly have signed-up for my commute. And what’s next – we still believe in crowd-banking and in crowd-analytics. Let’s go and put it into action….

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Want to get your hands dirty – at strategy?

Juni 7, 2011 in Help Wanted

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Ever got annoyed by large and generic slideshows dealing out buzzwords and consulting jargon without offering true insights or adding any value? Ever wondered how much money your or your client’s organization pays for that piece of work.

If you want to work strategy the hands-on kind of way, from thinking out loud, through really working the details until finally implementing the ideas and putting your creativity into practice.
Then give us a shout or drop us a mail, comment to this post or like us at Facebook.

We’re anxious to attract new thinkers that aren’t afraid of doing.

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What elements constitute a Strategy?

April 14, 2011 in Financial Services

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Ever heard the sceptical sentence from your clients – “you know this looks nice, but it’s just too consultancy….”

Too be honest – I did and while it made me scream for the first time – I had to agree with the verdict and since am asking myself with every buzzword used and every chevron drawn: How can you be more consise? So what consitutes a good strategy – these are my 5 pennies and I welcome yours:
- Everyone needs to grasp the big picture
- Value context over content (while the devil may be in the detail, the trick is in the interfaces)
- Include benefits and time-to-market
- Show transparently what will change (from today to day 1 and to target state)
- Delineate what will not be tackled / which expectations will not be met

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Over the Hill yet – or Already Going Down?

Januar 21, 2011 in Financial Services

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Bankers prophets are doing the roller-coaster again – or still. First we are drowned in messages claiming the end of the biggest crisis in modern day Financial Services. Drowned in weather changing fairytales of re-newing and changing the global financial systems to be more responsible, better governed and tightly regulated in order to avoid the next and bigger systemic earthquake. And just as we start to trust these news and start to question our common sense and even more the meaning of the economic figures we are shown the tide starts to turn again. So what is your take on the status and mid-term direction of the financial services industry? Have bankers learned their lesson?

  • Investment focus says ‘No’ – many of the banks hit hard during the last crisis have shortly shyed away from the volatile Investment Banking business. But most or all of them openly proclaim that they are getting back into the game now. And spending analysis underlines that statement. For some global universal banks we know the Investment Banking business takes 2/3 of all new spend.
  • Bonus & Salary figures say ‘No’ – when looking at the job openings and the managerial levels sought after it becomes obvious, that many of the jobs slashed during the crisis are being re-staffed, and often on the next level of the corporate hierarchy. So it has become appropriate again to talk about sign-on bonuses and about salaries at the right hand end of the Gaussean distribution curve.
  • Regulatory pressure says ‘No’ – while both in Europe and the US there will be after-shocks that lead to tightening of the regulatory oversight all-in-all the rules haven’t changed dramatically. All banks seem to invest in better risk management, both with an operational risk as well as a market risk focus. But the reasoning for most of these investments is self-preservation rather than regulatory mandates.

So looking at the post crisis situation bluntly you could become somewhat of a zynic. Yes, the bankers have learned their lesson: “Let’s make sure we don’t get caught next time round…”

Article first published as Are We Over the Hill Yet – Going Down…. on Technorati.

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How fast can you set-up a working Data Govenance Framework?

Januar 3, 2011 in Financial Services, Investment Banking, Private Banking, Success Stories

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Many organizations which have lived through data quality pains – really suffer from a data governance issue. And there are not many organizations in the large to global scale out there, that can claim not to have any data quality issues. So how fast can you, in the best of circumstances, really establish a working data governance, that i turn has a lasting positive effect on your data quality?

We have led many clients through the process of establishing a working data governance framework and what seems to be unique to most of them, is the lack of ownership for data items that are not directly linked to revenues, performance and success. While it is easy to nail down owners for clients, for profit-centers or for contracts, it is far more challenging to find the responsible person or organizational unit that owns a company’s more generic data items like organizational structure, product catalogue or business calendar. How can you go about these precious, little obstacles?

  • One takes them all – the seemingly easiest way is to define one person or unit, that is responsible for all of these generic items – let’s call them shared data – and owns all of the quality responsibility for the same. In order to successfully incentivize that unit, you need to tie their overall objectives and performance into the more visible success measures, be that revenues, turn-over or client count. Only by instilling that direct link will you underline the importance of data quality for non-strategic (or generic) data objects.
  • All take one – the opposite approach is to link one “community job” to each strategic data item, thus spreading out the maintenance and quality job for the shared data items to a number of well-liked and sought after objects. So whoever takes the client, has to take the business calendar along. Since every governing unit already has a direct revenue link, you don’t have to go through the additional exercise of installing a dedicated incentivation layer.

And how fast is this realistically implemented? I have seen global organizations setting up a new data governance and living the same within three months, including the build-up and usage of an entire master data management framework across three countries. And I also have seen medium sized firms taking two years and not getting the new data governance even settled and decided. So to my experience it’s mostly about the speed in which companies decide that also determines their ability to execute.

What do you think and what have you seen in your companies? Let us know…

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Has direct marketing hit your real-world analog life?

Dezember 28, 2010 in Help Wanted

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All of us familiar with the blogosphere have come across hidden ads and the famous line “people who have read this book also…”- but has your real world life been cluttered by target marketing and the holy grail of advertisers – the “segment of one”?
Just imagine some of the not so far scenarios:

  • You sit in jour favorite Italian restaurant and the Gowalla and Facebook enabled waiter doesn’t provide you with a menu but only a choice of history meals and convincing cross-sellers…
  • You drop your kids at pre -school and the teacher offers you an “always late” subscription extension that lets you pass on the scolding for being late for the next ten times… at a bargain price
  • Your newspaper is suddenly a lot thinner, since it only contains the pieces you are going to read or at least glance over. Of course you can change your preferences once a week, when the paperboy is completing his update service round
  • Your boss skips the annual appraisal meeting and instead provides you with a “success and failure dashboard” and the same also automatically determines your next year’s salary

Oh and I almost forgot, you will not receive any more unsoliceted advertisements since all you get is exactly what you wanted in the first place. Well, except for those of us, that don’t exactly know what they want…

Article first published as Has Target Marketing hit your Real-World Life yet? on Technorati.

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