When social media grows up… it will change everything

Download a copy of this article in PDF format – right click here. The contents of this article can be presented as a keynote or a workshop for your team. Contact our UK or South African offices to find out how.

Twitter recently hosted it’s billionth Tweet and Facebook had over 500 million users by the end of 2009, continuing its trend of doubling every nine months or so. It is difficult to continue to argue that social media is nothing more than a fad, and an increasing number of companies are starting to make use of these technologies.

But most of these companies are merely using social networks as a means to communicate (mainly with customers, but sometimes with staff as well) or to market their products and services. These are simple – and obvious – applications, and soon you’ll just be another voice in cacophony of online noise. Unfortunately, most “social media experts” focus only on these aspects of online social networking, and are overhyping the benefits and underemphasising the cultural shifts required for companies to truly benefit. They are missing a really important trend with huge implications for every organisation in every industry and sector.

The reason that social media has taken off so quickly is that it is more than a fad. It is, in fact, merely the technological expression of a values shift that has been taking place for a number of years. It will therefore be a shaping force in the world over the next decade. It might not be the answer to all your problems as many social media pundits are predicting. But it will definitely change everything, and more and more companies are starting to see the benefits it offers. A revolution awaits us.

You can hardly turn on a TV news channel or read a business magazine these days without being overwhelmed by requests to “follow my tweets”, “check out our blog” or “send us your videos”. Social media has gone mainstream. But most business users and organisations are treating it like a gimmick, and only gaining a fraction of the value they could. If they understood the true nature of what is happening, they’d know that social media is merely an expression of a deeper trend that has the potential to change everything. And they’d realise that the first companies to grasp this will have the opportunity to gain phenomenal competitive advantage in their industry. In fact, some companies have already started to do so.

Social Media 101

If you’ve missed this trend and are not sure what I’m talking about, here’s a quick primer: social media are the tools you can use to do social networking on the Internet. This involves connecting with other people, and sharing information with them digitally (yes, it’s just networking and connecting with others online). The most used tools are:

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Bacon or Pork: Either Way the Piggy Bank is Toast

Commitment to breakfast means different things to the chicken and the pig. Well unless that is, you’re inclined to favour KFC for breakfast!

Nowhere has the shock to perspective that the global recession emitted been more keenly felt than in the banking / financial sector. The collapse in asset prices, a surge in distressed debt and a looming threat of deflation have all threatened systemic financial meltdowns.  At the start of 2010, for the first time in 40 years there are a billion hungry people on our planet. That said, towards the end of 2009 there was widespread evidence of healthy recovery which, following the tumultuous events of the last three months of 2008, seemed unlikely. The world’s economies, big and small, are taking stock and whilst the recovery is not evenly distributed and counting one’s blessings is a selective exercise, we do need to understand some of the deeper social shifts that have happened as a result of the past 18 months.

It has been a troubled and confusing time to the ‘man on the street’ – a term that for many has gone from mere analogy to the frighteningly literal. What once was is no more and a ‘new normal’ is emerging. The rules of the game have changed and this impacts on all the players. There are three things that we need to note as we take stock of the situation. It is not about ‘finding our way back’ and rebuilding but more about understanding what has changed and the new opportunities provided by such changes.

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“Black to the Future”- South Africa’s Gen-Y

Shifts in societal change over the decades have radically changed the way we do business. Some creep up on us while others happen like a tsunami. Is your business in symbiosis with its ever changing environment?  In order to attract and retain your target market, and indeed survive and thrive in current times, businesses need to be in touch and in tune with changing landscapes. This is both in terms of internal customers (talent) and external customers (target market). South Africa is no exception and the landscape has changed!

Around the world, it has become clear that the children born in the last two decades have been born into a very different world.  The momentous, world changing events of 1989 reverberated from Tiananman Square to Tehran, from Tallin to Johannesburg, and from Berlin to the birth of the world wide web in CERN, Switzerland.  The world was changed, in so many ways, a tech boom was about to start, and would then bust, and boom again.  These global events form the backdrop to local forces in different countries around the world.  South Africa is one of the developing success stories of the past two decades, and provides a great case study for understanding the new global generation of young people, known globally as Generation Y.

My colleague Graeme Codrington is quoted in his book, Mind the Gap, as saying “There is a generation (Gen-X’ers) of white South Africans who are old enough to have been counted as part of the old regime, but not old enough to have actively participated in it”.  Anyone who has any interest in South Africa will know that since 1994 (and probably a little before that behind the scenes) the political landscape has changed. While over the past 16 years the New South Africa has been preoccupied with political change, many businesses have been slow to realise that along with it come huge societal change and therefore changes in consumer demographics and behavioural trends and indeed changes in the make up and management of organisational talent.

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Onions or Parfait – Customer relationships no longer need to be a thing of fairytales and pirate stories

For some companies, customers are like onions, full of layers and potential but difficult to identify through watering eyes. For other companies – those with a deep and intimate understanding of their customers – they are like parfait, rich, rewarding and fattening (in a good way) to the bottom line. Discover how Bill Clinton, Shrek and Donkey plus the fishmongers at Seattle Pike Place Fish Market can help you increase revenue and become a more customer centric company. By connecting with people’s value systems you can transform your customers from onions into parfait, and according to Donkey – an authority on the subject – everyone loves parfait!

Through our research, we’ve identified a method of developing marketing campaigns and customer experiences that connect with people’s driving value systems. The results have been exceptional. For one client we increased total company revenues by 300%, for another we increased sales of key product line by over 70%; and for a leading bank we doubled response rates for a direct mail campaign targeting a saturated market. In this article, Dean van Leeuwen, co-founder of TomorrowToday UK, explores how generational and values-focused marketing can assist your business in building stronger relationships that boost sales and retention.

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The Anatomy of Strategy – 3 Simple Questions to Test Your Strategy

Strategy formation has been elevated to the realm of the MBA. Curriculum is developed, courses are taught and only the chosen few get to play in this elite playground. Here the air is thin and we have come to accept that only those accustomed to flying at high altitude are entitled to be the ones to formulate the strategy. That is just the way it is and so our strategy descends from above, from the gods on high, and our gratitude is mixed with awe as we get to implement what has been commanded.

However, the widespread problem is that some 90% of strategy fails to get implemented within our organizations and so we are forced to ask, ‘why is this the case’?

There may be a host of complex explanations as to why this is the case but here are three simple questions that need to be asked and engaged if strategy is to be successfully implemented. … Continue Reading

Generations and Culture

Generational theory attempts to explain some of the differences between young and old people, and how they act, react and interact in different environments. Our value systems are shaped by factors such as culture, religion, gender, personality, class and socio-economics. But they are also shaped by the era in which we are born, and moulded by our peers and the world events that define our formative years. But can generational theory apply equally across different cultures and in different countries? Best selling author of “Mind the Gap” and an international, award winning presenter on the issue of the generation gap, Dr Graeme Codrington, provides his personal perspective….

It will probably be useful to you to know some of my credentials right at the start. My company, TomorrowToday is one of the world’s leading generational consultancies. An important part of our suite of services to clients is an understanding of the generation gap. Our approach is based on multiple sources of research and practical application, including access to the originators of generational theory, Neil Howe and William Strauss, who work out of the USA. We have also done our own extensive research, and have access to country-specific data for South Africa, New Zealand, Mauritius, England, Russia, Hungary, Estonia, Iran, Chile, Australia, China, Japan, the USA and an increasing number of other countries. Our application to different countries is constantly expanding as our team of experts is invited to present and consult around the world – in over 20 countries every year. We have presented in over 50 different countries, covering all the continents. … Continue Reading

“Terra Incognita – Territory Unknown”: Communication in a new World at Work

By Darren Davies, Founder of Integrity Blue Consulting

The global economic downturn has been more than just a recession. It has signaled an era of unprecedented change, and a time of turbulence for organizations, organizational leadership and organizational communication. Robinson and Harvey (2008) observed that the, “acceleration of globalization has created a chaotic state of change as businesses struggle to adapt new paradigms of leadership, in which established tried and tested approaches may no longer be effective.” Critical to navigating through the largely uncharted territory of this new world at work, is the role of communication, and the importance of understanding communication concepts and developments between leaders and followers within this new world.

A basic communication model would define communication as, “a process by which information and understanding are transferred between a sender and a receiver” (Richard Daft, The Leadership Experience, 2008, p. 260). Fundamental to the communication process is the understanding that a message is encoded and sent via a channel (medium or method), to a receiver, who in turn decodes the message, and subsequently encodes a return message via feedback. And so the communication process begins, and continues. Burnland’s (Towards a meaning centered philosophy on communication, 1962, p. 197 – 211) transactional model of communication assumes that messages are being sent and received simultaneously by senders and receivers, and hence the ongoing continuous nature of the process of communication. This basic transactional communication model remains true within our new world; however the information, methods and manners within which these messages are being sent and received, has radically changed. Furthermore, that rate at which information is being communicated, as well as the volume of information being communicated is challenging our traditional understanding of organizational communication, and the role leadership fulfills within the communication process. … Continue Reading

Talent is a Four Letter Word

The title of this post comes from a reply to a tweet I once posted:

Does anyone have a better word for ‘talent’? Does business really think it’s a big issue? Is there some other ‘thing’ we should be noticing?

TomorrowToday’s Top 10 most read blog entries at the end of 2009

TomorrowToday’s blog has been up and running since September 2004. We have over 1750 posts on our blog, filed under 35 different categories. We’ve not done this before, but here are TomorrowToday’s most read blog posts as of 31 December 2009:

10.) Time Magazine – the future of work
9.) How’s this for the latest craze
8.) Tell me and I will forget show me and I may remember involve me and I will understand
7.) Navigating This Differently Connected World – exploring the impact of social software on business today
6.) ‘Weeping’ by Josh Groban, errr actually Bright Blue
5.) The Talent Reboot
4.) Good to Great to Gone
3.) Back to the Future – Rethinking Strategy
2.) Detailed Introduction to Generational Theory
1.) ‘After Shock’ – the five trends disrupting business in the next 5 years

So there they are. If there was a writing award in TomorrowToday it would certainly go to Graeme Codrington (based in the UK for now, and traveller of the world) for the most written and the most read. Correlation between the two? Me thinks so.

The Talent Reboot

THE WORD “TALENT” HAS GIVEN BUSINESS A BAD NAME!

The 15th September 2008 is a day that shall remain etched in the annals of corporate history. It’s the day that Lehman Brothers went bankrupt lurching the world economy into the biggest financial crisis since the 1930’s. On that day and ensuing months it became clear a number of very talented individuals had brought the world to the brink of financial disaster. It’s a day that talent gave business a bad name. But there is more to the new talent challenge than just the financial crisis. Over the past decade consultants have been convincing companies that there is a “war for talent”. In this war, you have been told that talent needs to be given what it wants and that companies need to go to extraordinary lengths to provide talent with all the flexibility and freedom it desires. Nowhere has the war for talent been more ferociously fought than in the corridors of the financial monoliths. Banks, investment houses and insurance companies have hired and rewarded the very best. In return the brightest of the brightest have devised very clever and innovative financial instruments that brought the world to the brink of collapse. The reasons for the financial crisis are complex, needless to say. But what if the crisis happened not in spite of talent but because of it? What if companies have been using the wrong strategies and tactics to fight the war for talent?

This article argues that talent is crucial for business success, but that the current focus and direction being taken is detrimental to businesses and society. A paradigm shifts is required. We argue that the new talent focus needs to be built on creating talented companies, not creating talented individuals.

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After Shock: the five trends disrupting business in the next 5 years

Updated in March 2010 (now with an added Executive summary in the PDF format)

Download a copy of this article in PDF format – right click here. The contents of this article can be presented as a keynote or a workshop for your team. Contact our UK or South African offices to find out how.

As the world slowly emerges out of recession over the next few years, it will become increasingly clear that this was more than just an economic downturn. Disruptive forces are significantly reshaping the world of work. Some of these changes have been brewing for a decade or more – and now this recession has exacerbated their influence and speeded up their effects. Companies that have survived the downturn need to shift their focus to surviving the upturn. We are not ever going to “get back to normal” – a new normal is emerging for everyone, everywhere.

Understanding the forces that are driving this disruptive change will give an organisation the insights needed to adjust their systems, structures and methods and gain a significant competitive advantage in the next 3 to 5 years. It will also set them up for longer term success in the next few decades. It is therefore essential to provide not just senior leaders, but all staff throughout your company, with a framework of thinking about this “new normal”. You want them to work together to take advantage of the opportunities that will emerge.

There are at least five key drivers of disruptive change that every organisation in every industry and sector needs to track. These are the T.I.D.E.S. of change. (It’s a corny acronym, I know, but hopefully it will help with both remembering the framework, as well as making it easy to use on a regular basis in team meetings and informal conversations throughout your organisation). Here then are the key drivers of disruptive change in the next decade, and some questions to ask yourself and your teams as you plan to respond to them:

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Back to the Future: Rethinking Strategy

How do you speak in a new way about strategy when an old language dominates the topic? This is a major obstacle standing in the way of thinking about strategy in a new way for a new world.

Jamie Dimon, CEO of J.P. Morgan Chase was quoted in Fortune (January 26, 2009) as saying, “I am shocked at the number of people who are still worrying about their strategic plan for 2009. We cancelled all that stuff – all of it”. That this is precisely the problem with strategic planning – due to the investment, in every sense, to the plan, we are reluctant to jettison it when required to do so.  The response to situations that cry out for the abandonment of ‘the plan’ is to tweak, adjust and double our efforts. Invariably this merely results in digger our hole deeper and faster than ever. The global economic meltdown demanded a rethink of how we go about securing a competitive advantage, how we measure ourselves, what it is we need to be doing and why. Overnight the old rules of the game simply imploded and many were left clinging the ‘plan’, formulated in the context of the ‘old rules’ but now rendered as helpful as a toothpick in a gun fight.

The problem is, we have forgotten how to think. Reliance on our ability to plan, and specifically on Porter’s conventional wisdom as to how best to go about the formulation of that plan, has produced ‘lazy thinking’ habits within executive teams and amongst leaders.  We have been so used to marching to a known tune, that when the tune changes, or the music stops altogether, we simply keep on marching in-step.  The signs have been there for some time we merely ignored them: Inquisitiveness, questioning, learning, experimenting, reflecting, embracing diversity and paradox and conversations have all been neglected or worst still, intentionally sacrificed on the alter of expediency, efficiency, standard practice, tradition, conventional wisdom and known methodology.

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Navigating this differently connected world – Exploring the impact of social software on business today

The emergence of online social networks (Facebook, Twitter, blogs, etc) has profoundly impacted the way we communicate, associate and organise ourselves. It has left industries and companies grasping frantically for a response and a strategy that will allow them to seamlessly combine the world they know with a world that is fundamentally unfamiliar. Businesses need to explore the emerging shifts, changes and trends of this new world and create an approach that can be adopted in order to construct a meaningful and appropriate way forward to survive and thrive in this differently connected world.

The idea of social networking and communicating is not new. We have communicated through grunts and smoke signals, hand gestures and printing presses. We’ve been networking since we first spotted each other. It’s the mechanisms we use, the rules of engagement and value placed on our engagement that has changed with time. We all know the phrase “it’s not what you know, but who you know that matters”. It’s not a new concept or idea, its origin can probably be traced back to when we first realised we needed something from each other.

The emergence of these distinct and unique social networks is influenced by and influences the different generations of workers. Generational Theory can be a useful general filter to lay over social networking and these new forms of communication. This as generational theory focuses on the value systems or worldviews of individuals. And certainly as we look at the very different worlds the various generations have grown up in, both their value systems and worldviews differ when it comes to social interaction.

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Good to Great… to Gone!

Jim Collins got it wrong. Not totally wrong, but wrong enough that we need to be careful (as always) about who we listen to when designing companies for future success. Too often, leaders take a shortcut and blindly apply models they find somewhere else, without doing the work to adapt it to their culture and context.

Jim Collins is, of course, the international superstar guru author of “Built to Last” (buy at Kalahari.net or Amazon.co.uk), “Good to Great” (buy at Kalahari.net or Amazon.co.uk) and most recently, “How the Mighty Fall” (buy at Kalahari.net or Amazon.co.uk). His first two books are the two best selling business books of all time. His latest is bound to follow suit.

I have to declare that I am not the wildest fan of Mr Collins. I have read too many reports from the research teams that have worked with/for him, and are very disgruntled at how he has used their work without giving them any credit. I also received my copy of “How the Mighty Fall” yesterday, and was amazed to turn to the back cover of the book and see a single quotation, made by none other than… Jim Collins. I’m still to read the book, but I wonder if “hubris” and “arrogance” are possible ingredients in how the mighty fall? (Certainly “humilty” was a key element of his “Level 5 Leadership” principle). I’ll say more on this at the end of this (long) post… (But, then again, maybe I’m just jealous).

That personal comment aside, though, the question nevertheless remains: Are the models Jim Collins presents worth following? This is especially important since two of his “Good to Great” companies have recently gone bankrupt, and on average the whole lot have performed WORSE than the general stock exchange index over the past year or so of the recession. Are the principles in Collins’ books eternal? Or do they belong to an era that no longer exists?

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Seeing the world through your customer’s eyes – your key to growing your business

I regularly write articles for magazines and journals. Some of these really strike a chord, and just “work”. Here is a recent article that has been getting a lot of comment, and has been helpful to business leaders trying to cope with the economic downturn. See the original article at The Entrepreneur magazine SA, or download a PDF copy of it here.

Seeing the world through your customer’s eyes – your key to growing your business
By Dr Graeme Codrington
Entrepreneur Magazine, July 2009

In turbulent times such as these, only those companies that can prove they have real value to offer will survive. Yet, in tough times, most companies tend to focus more on their internal systems and processes than on what their customers are looking for. Seeing the world through your customer’s eyes is essential for success, especially during a downturn.

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Nine Reasons Why You Must Improve the Environmental Performance of Your Business

Whether or not you’re convinced by science and media reports on global warming, there is no doubt that our planet is under pressure at the moment. Things must change, and the governments of the world – not to mention increasingly vocal activists – have started to put pressure on companies and individuals to reduce energy usage and become more environmentally friendly and sustainable. Yet many businesses continue to ignore these issues, relegating it to a low priority task team, or simply paying lip service to it as a PR exercise. This is short sighted and potentially damaging. And it doesn’t make business sense, either.

There are significant advantages for the companies that take energy efficiency and business sustainability seriously. You don’t have to be a do-gooder to develop processes and systems to improve the environmental performance of your business. There is a strong business case for doing so.

Here are nine reasons why you should take these issues seriously, and see business improvement as a result. Doing well by doing good is possible. And desirable!

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Mirror, Mirror on the Wall – the essential role of feedback for the Leader

“Mirror, mirror on the wall, who’s the fairest of them all?”  So goes the question embedded in the fanciful world of a children’s tale and a question that hauntingly stalks most of us for the remainder of our adult journey. Not that we would admit to such for over the years, not only have we learnt how to conceal and disguise the question, we have learnt to train the mirror into giving us the answer we wish to hear.  Hearing the truth? Now that is real fantasy!

For those in leadership it is a question that provides the yardstick of measurement, recognition and reputation. With so much at stake, it is the question that demands the answer, “why of course, you are”- be that true or not.

The real problem is not the question but rather the expectation surrounding the answer.  Perhaps it is the blatant denial or angry response to the answer – the one at least that fails to deliver the expected – that is in need of attention. And so, the mirror, weary of abuse and fearful of being shattered, has learnt to simply reply, “why of course, you are” every time the question is asked. … Continue Reading

Talent – Manage it by measuring it

My husband is gets really annoyed that I don’t put clothes back in my cupboard after I have worn them.  I tend to pile them up on the table in our bedroom until I create a high pyramid of creased outfits.  I have struggled to change this habit so, as a last resort, my husband playfully implemented a fining system.  If he sees clothes on the table, he fines me 50p.

I have started changing my behaviour because it is now being measured.  Dumping clothes now has a monetary value and it’s starting to hurt my pocket in a big way.

The moral of the story is this – sometimes the best way to encourage a certain focus or behavior in an organisation, is to measure it and attach a value to it.

Companies want to make money and increase the bottom line.  Organisations are also gradually realising that, in today’s global economy, talented people can give them their competitive edge.  Very few companies have married these two concepts.  How do you use your talent to make more money for your organisation?

One of the effective way to create wealth from people and entrench talent development into the fabric of the organisation is to measure it.  Use metrics that make people accountable for it.  But, how?

Lowell Bryan and Claudia Joyce from McKinsey have an interesting proposition in their book ‘Mobilizing Minds’.  Their idea, which will take time to implement, is the best way to measure return on talent that I have come across so far.

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You can’t sit this one out

Originally posted at TomorrowToday UK’s article library, and distributed in their March ezine

As the recession deepens, with customers dwindling and staff morale dropping, strong leadership is required. Too many companies, and the individuals in them, are falling into a trap of trying to keep their heads down and hoping the downturn ends soon. They’re trying to get away with doing what they’ve always done – but on a tight budget. They’re desperately hoping that wave after wave of cost cutting measures, while making no operational mistakes, will be enough.

But, this is no time for low cost business as usual. Equally, though, it’s not a time for panic or self-destructive short-term strategies. The world truly has gone mad, and sanity and reason seem to have fled. If companies want to survive this recession, and take advantage of the few opportunities it might provide, they have to be level headed and have a clear “downturn strategy” while focusing on a few key areas that can give them competitive advantage in rapidly shifting markets. This requires a new mindset with clear thinking and single-minded execution.

There seems to be too little of that going around at the moment. But the solutions are actually surprisingly simple.

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The Battle for Innovation

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The Battle for Innovation

Nelson’s Column is a monument in the centre of London’s Trafalgar Square. A 5.5 metre statue of Lord Horatio Nelson stands on top of a 46 metre granite column. Thousands of business people walk past it every day on the way to and from work. Few of these people realize that, even though he died over 200 years ago, Lord Nelson could teach them some valuable techniques that could help them and their companies innovate in today’s business world.
Lord Horatio Nelson is regarded as the greatest officer in the history of the British Royal Navy. He is renowned for his innovative, confident and unorthodox battle techniques. He died in 1805 after he and the British fleet annihilated their Franco-Spanish enemies in the Battle of Trafalgar. This battle was one of the most decisive naval battles in history and it established Great Britain as the leading naval power. After this humiliating defeat, Napoleon Bonaparte of France abandoned plans to invade Great Britain.

Innovation will give 21st century organizations competitive advantage. But, as Nelson showed, innovative and cutting edge ideas are not random. They come from relentless, focused preparation. Wisdom, experience and preparation provide the confidence to follow through with seemingly risky, unconventional ideas. … Continue Reading

Leaderment or Manageship

Since I’ve been in any form of organization, no matter how big or small, there’s always been an attempt to make a distinction between managers and leaders. There are all kinds of definitions that attempt to make the distinction, like this one from Warren Bennis, “Managers are people who do things right and leaders are people who do the right things.” And for the most part they’ve done a great job convincing us of the difference.

May I suggest that the distinction between the two is not helpful in today’s business environment!

The lines between manager and leader have become very blurred. In this highly pressurised environment there just isn’t time to make the distinction any more. We’re thin on the ground. We need managers to lead and leaders to manage. Perhaps it’s time to scrap both these terms and come up with a new one. Of course that’s not going to happen. There’s too much money to be made by keeping them separate. Step outside of academia for a while and ask those on the ground whether they’re managers or leaders? Their answer is almost always both. And this is not because they’re not smart enough to understand the difference, it’s because today’s business environment requires them to do both and to be both.

Today, almost all of our work functions are highly documented. Is there a business function left in the world that doesn’t have a manual attached to it, showing in accurate detail, how to go about what it is you do whenever you’re doing it? With that much detail why do we need managers? Just follow the manual. Managers in the context of these manuals have become the go-to reference people. You go to your manager when you’re not sure how to interpret the manual, not because you don’t know what to do. … Continue Reading

An interview with Sharon Kersten

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An interview with Sharon Kersten

Sharon is a skilled and experienced business professional having worked as MD at Old Mutual’s retail banking arm Nedbank. She is also a guest lecturer at INSEAD. We interviewed Sharon to ask her what she believes companies need to be doing as recession looms on the horizon … Continue Reading

Detailed Introduction to Generational Theory

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Detailed Introduction to Generational Theory

“Baby Boomer”, “Generation X”, the “Millennial generation”, “Generation Y” – these and other similar terms to describe groups of people of different ages have become fairly well known and well used in recent years. These terms arise from a theory that attempts to explain how different generations develop different value systems, and the impact that this has on how younger and older people interact with the world around them and with each other.

This understanding of different generations and the “gap” between them has many applications in all areas of life, from parents interacting with children, to sales people selling to younger or older clients, to managers who work with teams of people of different ages.

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The Accounting Profession: Power, Pressure, Perfection and People

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The Accounting Profession: Power, Pressure, Perfection and People

Since 2002, the accounting profession has been rocked by sensational corporate scandals and subsequent strict regulations.  The four largest global accounting firms (the ‘Big Four’) still have more challenges on the horizon.  All of them see their talented staff as the best tool to embrace these challenges and add the value demanded by clients.  Each of the Big Four believes their people are the source of their future competitive advantage.

But, most graduates who are recruited by these firms write the same exams, are affiliated to the same professional bodies and are overseen by the same external regulators.  The structure of an audit, the deadlines, the type of people who are recruited, the pressure and the opportunities are similar at each of the four accounting giants.

If talented people are the key to differentiation for each of the firms, why and how should they change and structure themselves in order to capitalize on this critical resource?  How can they each use their people to differentiate from each other?

In spite of the new networked, knowledge economy, increased regulations and changes to the profession, the organisational design and way audits are staffed and performed has generally remained the same.

Is it time for the Big Four to change? … Continue Reading

See you on the flip side

“It is my contention that in the over 40 years that I have been associated with the JSE, South Africans have always over-reacted emotionally towards the exchange. When there is a bull market people believe it is never going to stop and when there is a bear market everyone believes that the sun will never shine again.” – Humphrey Borkum, Chairman JSE Limited.

This is not another comment on how tough it is out there. There’s plenty of that going around, and then some. This is rather a question on how one should prepare people for the ‘flip side’? And there always is a flip side, whether you’re running a company or flying an Apollo Mission.

There are clearly some difficult decisions to be made when resources are tight, cash flow is under pressure and business isn’t flowing in like it did 12 months ago. Of course it doesn’t help when you don’t know when the cycle is going to turn, how quickly and to what levels the economy will return? Making a bad decision when the pressure is turned up can have far reaching consequences. Containing costs and doing everything to keep sales to an acceptable level are all part of the mechanisms most managers turn to.

What about people in all of this? … Continue Reading

The Essential Smoke and Mirror of Leadership

My youngest son Sipho arrived home from school the other day having just negotiated a history exam. “Well, how did it go?” I asked. Without so much as breaking his stride, he replied, “Well Dad, I either got 92% or 60%” and with that disappeared into his room leaving an empty and somewhat stunned silence in his wake.

I was left pondering his answer. Answer? What kind of answer was that anyway? I was left with two thoughts: Firstly, Sipho has a bright future in politics and secondly, he did a masterful job at managing parental expectations!

It was the second conclusion that led me to thinking about two of the most important aspects of leadership, namely the need to manage expectations and the need to manage perceptions. … Continue Reading

Talent – I dislike that word!

Barrie Bramley looks at the preoccupation many companies have with ‘talent’and the confusion it’s causing; as those who are grappling with it struggle to work out what to do with it? Barrie looks at the problem of scarce skills in the market place and the fact that when there’s a shortage of people with skills, you want to ensure that you ‘acquire’ the best people available. … Continue Reading

Introducing the Generations

- First published in the April 2008, Mortgage Solutions magazine

The era in which you were born has an extraordinary effect on your value system, your expectations of the workplace and how you approach life. In this article, Dr Graeme Codrington, one of the world’s leading experts on generational theory, gives an introduction to the concept of the generation gap.
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Building Network Alliances – The future for profitability and success in turbulent times.

Business world is facing the dawning of a new alliance age / revolution that will bring about a new business model more symbiotic and substantially different from the business model of today. The competitive and changing economic landscape demands a new business model…one removed from the shareholder value model to one where value for all stakeholders is created. A model where symbiosis is common place, a model where an entirely new set of rules, governances and structural design/architecture is created; a model that requires the mobilisation of every ounce of intelligence from the managers managing the relationships. In this article our UK & European Director, Dean van Leeuwen, shares with us the results from interviewing over 30 senior executive managers and undertaking a broader global research study of leading companies. The results are illuminating.

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