Avoiding mistakes and putting best practices to work
Apologies are one of the oldest crisis management tools in the book. Although they’ve evolved to deal with a variety of situations, including those where you’re not actually at fault, the basics that make up an effective one remain largely the same. Making an interesting connection to human anatomy, this infographic from The Corpen Group (now known as Global Public Affairs) breaks down the common mistakes and best practices involved in any corporate apology:
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For more resources, see the Free Management Library topic: Crisis Management
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Note to Self: Organize my social media management.
But how?This article delivers the best tools for you to organize and incorporate efficiencies in your social media marketing in 2016. Whew – what a relief!
Effective, efficient social media management is crucial to having a solid social media marketing strategy. If you are a social media manager, you probably already know the importance of having management tools, and this trend is growing increasingly.
The tools you use can help you achieve a number of tasks like content discovery, content scheduling, and social media monitoring. You can gain more followers, increase engagement and of course grow your business by using the right social media management tools.
There is a large variety of tools that can help you manage your social media accounts. Let’s dive in to see what some of these tools can help you accomplish.
Talkwalker
Talkwalker is a powerful social media monitoring tool and has advanced big data crawling capabilities. In fact, Talkwalker’s search index covers over 150 million sources in several different languages. If you are using Talkwalker, you simply need to specify your brand, any related topics that you would like to track and your competitors. Talkwalker gives you upto 100 influencers for any project that you might be working on and also for various media types.
Even though Talkwalker is quite an advanced tool in what it offers, it is quite easy to use and is very user-friendly. You will not have to go through any type of training to understand how the tool works.
The process of analysis is quick and the tool’s search engine allows rapid searches which sift through millions of data sources. You can control the findings and receive multiple combinations of results that are based on your findings. Also, the tool lets you create custom templates for daily, weekly, or monthly reports.
TweetDeck
TweetDeck is a great tool for beginners who are trying to manage their Twitter account. Twitter can be overwhelming sometimes with posts moving by really quickly. You can never be sure if you have tapped into every opportunity possible on Twitter. With TweetDeck, you can search for various keywords and easily spot conversations where you or your brand is being talked about.
TweetDeck even lets you monitor hashtags and also lets you add multiple accounts if that is something you require.
DrumUp
DrumUp is a stylish social media management tool that can completely take over your social media activities for you. The tool can help you curate content that aligns with your business. You can input specific keywords in the settings page of the tool. For example, if your business deals with real estate you can specify keywords like residential/commercial real estate, home ownership, property investment etc.
The tool will provide relevant story recommendations and if you would like to narrow down your search even further, you can add negative keywords as well. DrumUp gives you the freshest content recommendation on the web and is a great alternative to other curation tools.
Most of all, it lets you schedule and share your newly discovered content on various social media networks like Facebook, Twitter and LinkedIn. It even lets you create custom posts that you can schedule at a desired time.
Mention
As important as it is to create and curate content for your social media pages, it is also important to understand the impact your content is making on social media. With Mention, you can get an overview of your brand and track the overall performance of your social media marketing strategy. All you need to do is put in brand-related keywords into the tool, and you can find out the number of times your brand has been mentioned.
Mention also sends across real-time alerts whenever there is a mention of your brand and you can find out if the mentions are positive, neutral or negative. This way you can keep an eye on your brand’s online reputation and fix any potential damages if necessary.
Pocket
Similar to Instapaper, Pocket is also a bookmarking tool that allows you to save links to blog posts, articles, videos and more. The tool currently has over 17 million users and has been picked up really well by audiences.
Once a link is saved on Pocket, it automatically gets saved on your phone, computer or your tablet, which means you can access your links across all platforms. More importantly, the saved links can be accessed even when you are offline. If you like an article on Twitter or any other similar application, Pocket lets you save links directly from these applications so you don’t have to look it up on your browser and then save.
Feedly
Content hunting days are finally over! The Feedly Reader is an amazing tool if you need to find content in a short period of time. With the News Reader by Feedly, you can add feeds from various blogs and websites and the content will stream right through to your reader. You can set up several categories like food, travel, marketing, social media, photography and more. Once the content starts streaming in, Feedly organizes it neatly into categories.
Using Feedly, you can share the content on Facebook, Twitter or your LinkedIn pages. However, it does not give you the option to schedule the content. If you have particular topics of interest, these are marked with hashtags so that they can be easily discovered later on. Also, the content on Feedly comes from high-authority sources so you can be rest assured that it is good quality content.
Social Mention
Social Mention, a real-time search platform, tracks over a hundred social media websites to help you monitor your brand and how it is being talked about. It is a great listening tool as it provides in-depth analysis of data and measures influence using four different categories. These categories are passion, strength, reach and sentiment. Getting started is simple, and all you have to do is enter your website’s or your product name and it can gather results for you. These results can be used to judge your brand’s impact.
Instapaper
A bookmarking tool can always make life easy. However, Instapaper can offer much more than just a bookmarking service. If you are one of those people who stumble upon some great articles but don’t get time to read them at the same time, Instapaper is a tool you should definitely add to your toolbox. This tool can save links for you so that you can come back to them, when there is more time on your hands.
If while reading you come across parts that are interesting, you can highlight and add comments to the particular paragraph so you can remember it the next time.
Followerwonk
If Twitter analytics is something you are interested in, Followerwonk is a must have. It is the best tool to help you optimize your visibility online and boost your social media growth. The tool allows you to compare and contrast your social graph to other competing brands to see how your brand is doing and what you can do to improve your marketing strategies.
Followerwonk also makes influencer marketing really simple by letting you search Twitter bios and categorize them by location, number of followers, overall influence and more. It also provides rankings for influencers which can help you make marketing related decisions as well.
Google Alerts
Google Alerts is probably the easiest tool you can work with if you are just starting out with analytics. The set up is super easy and once it’s done, you can start monitoring websites for engaging content and also look for brand mentions. You will have to enter specific keywords related to what you want to monitor, and Google Alerts will send you real-time alerts once it finds a match. The best part is that you can receive these alerts in your email and you can set it up so that every time there is a new source mentioning your brand, Google Alert will notify you right away.
If you are a content marketer, you can keep track of trending topics that are popping up so you can create around it. This way, there is a higher chance of the content getting picked up quickly by your audience.
In Summary
There are a lot of tasks that make up social media management. You need to create and curate content for your social media accounts, publish the content at the right time and of course track the impact that your content has on social media. The above-mentioned tools can surely make those tasks a little easier for you while letting you get the most audience engagement as you can!
Author Bio:
Aditi Prakash is a blogger at Godot Media, a leading blog writing services firm. She writes extensively on content marketing and social media marketing. She also has numerous guest posts on various other blogs.
For more resources, see the Free Management Library topic: Marketing and Social Media.
Although this infographic from Wrike is specifically aimed at project management crises, the advice within applies to just about any type of crisis you may encounter. The framework of planning carefully before, reacting rapidly during, having an actual wrap-up process, and communicating throughout are items any group should strive for in crisis management.
This is a three-part story of a small Historical Society that embarked upon a Capital Campaign at the urging of their current President and her husband, who donated $1M for a major project. The campaign was undertaken without a Planning Study; and, in their second year of fundraising only $156,000 has been raised… $100,000 of which is from one donor.
(Again, this is a response to an email, with my comments in bold.)
Please understand we still do not have blueprints and specs on this – so it has not gone out to bid. We have no hard numbers yet.
I have three questions:
1. Conflict of Interest as it relates to our President holding that office while she & her husband are pitching this project.
Any board member can pitch any project or course of action.
It’s not a conflict of interest unless the president and her husband stand to benefit from what’s being proposed. It is an example of board members with money bullying the board on which they are not a majority; and, it’s an example of a board that’s hiding behind very thick rose-colored glasses.
2. The soundness of our ED’s and a few others’ statements on how “in their experience” the money will come in after we break ground because of the excitement.
In my 40+ years as a fundraising consultant/mentor/educator I have never seen the excitement (defined as an interest in and/or willingness to give to the project) build after the groundbreaking. Typically, the perspective is that if you’re breaking ground you must have enough money to complete the project (which you should), so you don’t need my money.
3. How and whether a Donor’s Capital Campaign contribution is returned when it is requested. Can the threat of this continue to drive decisions?
Keep in mind that your organization’s reputation is at risk, and the reputations of the individual board members. Returning contributed funds shows good faith and transparency. The organization may look like it failed at the project, but good faith can go a long way toward long term survival.
I have serious doubts as to whether we can raise the remaining funds for this project. Our Town has not had that depth in the past and we compete with a number of other nonprofits with more sex appeal.
I think that your last paragraph sums it up. It’s what I gathered from reading the rest of your note.
Final Note: It must be emphasized that a properly done Planning Study would have uncovered the extent of support (or lack thereof) to be expected from the Society’s constituency/community, and it would have uncovered the extent of the board’s acuity and/or naiveté. There’s no substitute for Planning.
That’s it for this year.
Wishing You All the Happiest of Holidays,
and the Best for the New Year.
We’ll see you on January 6th.
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=-=-=-=-=-=-=-=-=-=-=-=-=-= We’ve been posting these pieces for the last five years,
and we’re now at a point where, to keep this resource alive,
we need your questions/problems to engender further discussion.
Look forward to hearing from you. Comments & Questions
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To engage in strategic thought, you must think and reflect on the big picture—on the diverse players and forces in your competitive environment. Anticipate the future. Use your right brain for intuition and wisdom, your left for planning. As Isaac Newton said “truth is the offspring of silence and meditation.”
Here are 50 tips and tools for effective strategic thinking:
1. Read Learning to Think Strategically, by Julia Sloan of Columbia University.
This is my favorite kind of book… the kind that has lots of my under-linings and margin notes left over from previous readings! That means I intend to come back to the book now and again for wisdom and guidance about my topics of interest… Strategy and Strategic Thinking.
Professor Sloan’s book traces the history of strategy, differentiates strategic thinking from strategic planning, describes the influence of culture, and introduces five key attributes for learning to thinking strategically. Learning to Think Strategically asserts that learning is the critical link to transforming strategic thinking into a sustainable competitive advantage.
2. Learn the four stage strategic decision-making model.
Read the Schoemaker & Russo classic, Decision Traps and learn the four stage model. The model fits for all sorts of decisions, be they tactical, opera Business Routine bucketstional, or, in our area of interest, strategic. In the rare instances when I have been asked for advice, I have often resorted to the model — shown below — to mask my otherwise dearth of wisdom. Here is what I have learned to ask people about the decisions confronting them: “Are you asking the right questions?” …”Have you gathered enough information to make a good decision?”… “Are you getting good advice from those around you?”… “What have you learned from decisions you’ve made in the past?”… I’ve found that these four simple questions go along way in helping people make good and sound decisions.
3. Set up a process to scan your Competitive Environmentusing Google Alerts.
Every day, I get a morning email from Google with links to all the articles that have been published in the past 24 hours on three topics near and dear to me: Competitive Advantage, Strategic Thinking, and Competitive Intelligence. For your use, you might want to track anything that mentions your company, your competitors, your key suppliers or your favorite artist.
4. Think about setting up barriers to entry to protect your business.
Look into setting up exclusive relationships with customers, distributors and suppliers. Make sure you are protected with trademarks and patents. And simply, be careful about giving away your intellectual capital. See Chris Sloan’s article in The Business Journals called How to create barriers to entry that protect your business.
5. Reach out to your customers for feedback.
Better yet, set up a Customer Insights research project for your company. When we perform a “Customer Value Analysis,” a process pioneered by Bradley Gale in the 1990s, we seek to learn more than the degree of “customer satisfaction.” Rather, we determine the importance weights of various attributes of quality and service as predictors of purchase and repurchase. Measuring performance on these attributes yields insight on where you need to improve your offerings, be they products or services. Find more detail about setting up a CVA for your company here.
6. Install a rigorous ongoing strategy process.
For ideas, look at an article called Managing the Strategy Journey in the McKinsey Quarterly. Authors Bradley, Bryan and Smit suggest that moving from ideas to execution requires seven distinct modes of activity. The authors suggest a looping and re-looping approach to strategy making with the following elements.
Idea Generation
Frame: What are our objectives and constraints?
Baseline: What is the reality of our performance and capabilities?
Forecast: What do we expect of the future environment?
Development and Selection
Search: What options do we have to create value?
Choose: What packages of choices will define our strategy?
Commit: How will we deliver the changes required in the strategy?
Execution and Refinement
Evolve: How will the strategy unfold and evolve over time? How do we manage strategic risks?
7. Give some thought to outsourcing business processes that are not in your wheel house.
Nike makes shoes, right? Well, not exactly. Nike is a wonderful company with superb marketing capability. But Nike outsources the actual manufacturing process to someone else. So in that sense, Nike does not make shoes. Nike’s competitive work is the design and marketing of athletic shoes. Obviously, the company has succeeded for years at doing just that. Knowing when to outsource work and when to keep it in-house is a key to successful strategy.
You’d never outsource your competitive work, of course, but sometimes it is best to have others do the rest, so you can focus on the strategic work. To learn how to categorize your work into Competitive, Competitive Enabling and Business Routine buckets, follow the link.
8. Visit and study your competitor.
How is their business model different from yours? What do they say makes them unique? What do they do better than you do? Why? Paul Gustavson tells the story of seeing a Walmart manager while shopping in the store of Walmart’s key (at the time) competitor–a once mighty retail chain now all but vanquished by Walmart. “Isn’t that the manager from Walmart?” Paul asked an employee. “Oh, yeah,” was the reply, “We see him here more than we do our own manager!” The visiting Walmart manager, of course, was gathering competitive intelligence and simply gathering good ideas as he “shopped.”
9. Convene your strategic team and talk about nothing but what you have learned over the past year.
This “Lessons Learned” process sets the U.S. Army apart as an outstanding “learning organization.” From the Army’s Lesson’s Learned document published after the Gulf War: “One of the great, and least understood, qualities of the United States Army is its culture of introspection and self-examination.
American soldiers, whether it is the squad leader conducting a hasty after-action review of a training event or the senior leader studying great campaigns from the past, are part of a vibrant, learning organization.” Their motto—The Past is Prologue—neatly and poetically summarizes the Army’s approach.
Look at the way the US Army masters the Lessons Leaned process. It’s really extraordinary what they are doing.
10. Keep an eye out for potential disrupters and threats to your business model.
Make sure you are constantly on the hunt for intelligence about not just what is happening, but what may happen in the future. Michael Birshan and Jayanti Kar write in the McKinsey Quarterly that “Picking up weak competitive signals is more often than not a result of careful practice: a systematic updating of competitive insights as an ongoing part of existing strategic processes.
Executives with diverse backgrounds can boost the quality of dialogue by contributing to—and insisting on—issue-based competitive analyses. Who is well-positioned to play in emerging business areas? If new technologies are involved, what are they, and who else might master them? Who seems poorly positioned, and what does that mean for competitive balance in the industry or for acquisition opportunities?”
11. Spend more time in the shower… or wherever you get your best ideas.
Aaron Sorkin, creator of TV show West Wing — not to mention that new Steve Jobs movie — describes his process for doing creative work: “Take a shower, put on clean sweatpants, try to write; have another shower, put on a comfortable outfit, take a crack at writing; shower again.” Sorkin admits to up to six showers a day.
There is science behind the idea. Studies show that when you are doing something “mindless” like showering, running, or driving down the interstate, your brain enters a state sometimes called “theta.” This is similar to the state you are in in the moments between sleep and wakefulness. Free associations lead to new connections, and new connections lead to new ideas you haven’t put together before.
12. Read a book on history.
When you are faced with the most important and strategic decision of your life, where can you go for wisdom? Can you find insight in a book of history? Facing a world in crisis, John F. Kennedy did just that.
See my blog entry called To Learn Strategy, Read History, describing how President Kennedy’s strategic decision-making during the Cuban Missile Crisis was greatly affected by his reading of Barbara Tuchman’s book about the antecedents of World War 1 called The Guns of August.
Kennedy said he wanted to “send a copy of that book to every Navy officer.” Indeed, JFK had his aides read The Guns of August and had copies distributed to every US military base in the world.
“It had a huge impact on his thinking, becoming the dominant metaphor for JFK on the crisis,” said Graham Allison, author of Essence of Decision: Explaining the Cuban Missile Crisis.
13. And read MORE history.
While you are in a World War 1 frame of mind — Read Paris 1919: Six Months that Changed the World.
It was 1919. The “war to end all wars” had come to a close, with the Allied forces finally defeating Germany and Austria-Hungary after a devastating conflict in after which there were no real winners.
A conference was held at Versailles Palace in France at which decisions would be made to shape post-war Europe. Among the participants were three leaders who would become the “Big Three” and would dominate actual decision-making: the American President Woodrow Wilson; David Lloyd George, Prime Minister of the United Kingdom; and the 77 year old statesman Georges Clemenceau of France.
As I read historian Margaret Macmillan’s marvelous book, I was shocked to learn how the history of our globe over the past 96 years was shaped not by a thorough and comprehensive decision-making process, but by, simply, what these three gentlemen thought ought to be done.
Woodrow Wilson, for example, was enamored with the idea of creating a country to be called “Iraq.” As he said “Basra, Baghdad and Mosul should be regarded as a single unit for administrative purposes and under effective British control.”
Umm, yeah… that was effective!
14. Learn Search Engine Optimization (SEO).
No matter how removed you are from your digital marketing group, as a strategic leader you should know what keywords people use to find your company. After all, the keyword is the digital manifestation of your brand in the competitive marketplace. Think about it this way: The search term that people find you with on the internet… that’s your brand.
Author Nick even introduces a new strategic metric he calls RoSEO (Return on SEO). He says the metric is meant to get you thinking about the implications of cost versus revenue in terms of return on SEO. The model includes variables such as click-through ratio and rate of conversion of clicks to sales. Not the stuff of CFO thinking in days gone by. As mentioned, since the search term is so intricately linked to your brand, RoSEO can also be thought of as “Return on Brand Investment”.
15. Learn more about who your customers and followers are by peeking to see who is linking to your website.
Here is a great set of tools for researching “back-links” to your site and improving your visibility on the web. While you are there, read Brian Dean’s case study titled: “How Emil Turned a “Blah Blog” Into an Online Sales Machine.” I was captivated by the story. The case study describes the strategic actions that a young client — Emil Shour — used, based on Brian’s guidance, to draw thousands of readers to his website.
Emil runs content marketing and SEO at SnackNation, a “healthy snack” delivery service. He wanted to draw more attention to his company’s website and build a stronger brand. Emil learned to use internet tools to identify the followers of his competitors’ websites (potential customers for Emil’s company!) and how to identify the keywords people use who are searching for services that SnackNation can provide.
He used this information to reach out to and win new customers. Even if you don’t have the slightest interest in on-line marketing, read the case study to reinforce ideas about the strategy process. [BTW, check out SnackNation’s blog to see some great case studies about Employee Wellness programs.]
16. Learn about Whole Brain methodology and the required brain dominance for strategic thinking.
I understand the context around me in a different way than you do. Some of us are most moved by thoughts of the big picture. Others look first at the details. For some of us, the we make decisions with our emotions out front. Others are focused on the facts. The “whole brain” approach shows us how to make change happen by leveraging individual differences.
Visit HerrmannSolutions.com and respond to the instrument to see
your preferred style of thinking. Or read Ann Herrmann’s Whole Brain Business Book to learn an approach to business effectiveness drawing on understanding of the ways we differ from each other.
Learn More about the Whole Brain Business Book. here.
17. Watch Ann Herrmann’s TED TALK.
Ann is the CEO of Herrmann International. Listen and watch as Ann tells us about how her father hooked her up to an EEG to see which parts of her brain were most active as a teenager.
18. Plan for the unknown future… Develop Scenario Plans and Crisis Management Response
In the Art of War, Sun Tzu introduced a concept he called shih.Shih is the state of calm readiness at which an army stands, with a variety of options at hand. Sun Tzu’s army did not have a specific program or plan, but understood the competitive landscape and all of its options. As battle began, decision-makers high and low knew what to do as each contingency played out.
Sun Tzu said that the skilled leader knows shih so well that he/she can use it to achieve effortless victories. He advises:
One who uses shih sets people to battle as if rolling trees and rocks.
As for the nature of trees and rocks —
When still, they are at rest.
When agitated, they move.
When square, they stop.
When round, they go.
That is to say, the skilled leader anticipates and recognizes the dynamics in the ever-changing environment that tell him it is time to execute a previously choreographed response. Today, we call this scenario planning. Scenarios are “alternative futures” that cannot be predicted due to uncertainty. The term is borrowed from the world of drama, since each alternative future is described in the terms of a “story” or scenario. Scenario planners identify clusters of events that could happen, and imagine how things would be impacted should these events actually occur.
Some scenarios are positive, such as a world event that causes you revenue opportunities. Some are true disasters … weather events, computer hacks, bankruptcies of key suppliers, and so on. Great leaders, Sun Tzu tells us, anticipate each possible scenario and prepare a response for each contingency.
Jonathan Bernstein defines a crisis as “any situation that is threatening or could threaten to harm people or property,
seriously interrupt operations, damage reputation and/or negatively impact the bottom line.” Jonathan and his team at Bernstein Crisis Management help clients attain a state of readiness — Sun Tzu’s shih. Armed with scenario and contingency plans, Bernstein’s clients are prepared for all aspects of crisis management – crisis response, vulnerability assessment, planning, training and simulations.
19. Going on a trip?Grab a book
Grab a book you can read in its entirety as you travel to and fro. Perhaps try William Duggan’s delightful (and short) book called Creative Strategy: A Guide for Innovation.
Duggan explains the critical steps to innovate in business and any other field as an individual, a team, or a whole company. The critical step — the search for past examples — takes readers beyond their own brain to a “what-works scan” of what others have done within and outside of the company, industry, and country. It is a global search for good ideas to combine as a new innovation. Duggan illustrates creative strategy through real-world cases of innovation that use the same method… from Netflix to Edison, from Google to Henry Ford.
I also learned a great deal from Duggan’s previous book, Napoleon’s Glance: The Secret of Strategy. Hmm… Maybe that one’s better… Yeah, read Napoleon’s Glance first. If you like it, Creative Strategy will help you apply what you learned from Napoleon.
20. Read the Blue Ocean Shift, by W. Chan Kim and Renee Mauborgne.
21. Make sure your company has a high level strategic scorecard.
Define the long-term goals that are aligned with and will drive desired behaviors. As everyone knows by now, these goals should be “specific, measurable, and attainable”. Useful goals should:
Be linked directly to environmental demands, particularly to customer needs
Be congruent, both horizontally and vertically, throughout the organization
Drive breakthrough improvements in addition to incremental improvements
Define the organization’s priorities
Be attainable
Key questions a good system of goals and metrics should address include:
What are the ultimate targets, what are the interim targets?
What is our current performance? What is it relative to others?
How do we know we have won?
What will have clearly happened that we can point to as achieving our vision?
Do these goals stretch the organization?
What are the ways we will measure progress towards the goals?
22. Make sure your strategic decision-making team is a diverse and flexible group.
The Strategic Thinking and Strategic Action blog is a great resource for insight about the do’s and don’ts of strategic decision-making. Recent articles there include an explanation of “Decision Traps, Flaws and Fallacies” and how to “Open Up Your Thinking. Make better decisions in a group process.”
23. You probably already own it… Now read it!
Doris Kearns Goodwin’s excellent book Team of Rivals explains how instead of bringing in a cadre of leaders whose thinking closely matched his own, Abraham Lincoln made a point of surrounding himself with his political rivals, naming William H. Seward, Salmon P. Chase, Edwin M. Stanton, and Edward Bates – all of whom had opposed Lincoln in a bitterly fought presidential race – as members of his cabinet.
Despite initial misgivings, this unlikely team learned that Lincoln valued their opinions, would consider and reflect on their disagreements and challenges, and would not stick unnecessarily to preconceived notions.
Though the mix of personalities and opinions inevitably led to debate and verbal conflict, Lincoln was able to facilitate and mediate, tapping into a rich variety of ideas in order to find the optimal solution to political and military issues.
24. Look at your business as a series of experiments.
That’s what eBay does. (See How to Design Smart Business Experiments, by Thomas Davenport, in HBR.) At eBay, there is an overarching process for making website changes, and randomized testing is a key component. eBay benefits greatly from the fact that it is relatively easy to perform randomized tests of website variations.
Its managers conduct thousands of experiments with different aspects of its website, and are able to conduct multiple experiments concurrently and not run out of treatment and control groups. Simple A/B experiments (comparing two versions of a website) can be structured within a few days, and they typically last at least a week so that they cover full auction periods for selected items.
Davenport explains that on-line testing at eBay follows a well-defined process that consists of the following steps:
Hypothesis development
Design of the experiment: determining test samples, experimental treatments, and other factors
Setup of the experiment: assessing costs, determining how to prototype, ensuring fit with the site’s performance (for example, making sure the testing doesn’t slow down user response time)
Launch of the experiment: figuring out how long to run it, serving the treatment to users
Tracking and monitoring
Analysis and results
25. Find a way to work the following into a conversation: “Strategic Planning is an oxymoron, don’t you think?
26. Lose yourself in an on-line brainstorming tool…
Try Soovle, and enter “strategic thinking” in the center box. Let the internet take you on a ride of free association. Or use it to understand the keywords people use to find you or your company.
Then check out the same for your competitors. Where do you stand on the digital battlescape? Need to improve?
28. Understand your generic strategy.
Look at the four generic strategies in the 2 by 2 model below. Can you place your company in one, and only one box that fits its strategy? If you can’t you may not have a strategy. Learn more here…
Here’s 50 tips on how to do so, provided by Chris Brogan. As an example, Chris’s tip #24 is “Use services like Twitter Search to make sure you see if someone’s talking about you. Try to participate where it makes sense.”
31. Think about the Worst Decisions Ever Made and make sure you don’t follow suit!
I enjoyed a book called Idiotica: History’s Worst Decisions and the People Who Made Them. Examples include pre-WW2 France’s decision to stake the defense of their country on the Maginot Line, the approval of the drug thalidomide and Custer’s decision to go “all in” at the Little Big Horn.
32. Revisit and test your assumptions.
In Thinking In Time: The Use of History for Decision Makers, Richard Neustadt and Ernest May suggest that decision-making groups should begin by listing key elements of the immediate situation in three separate columns under the headings of Known, Unclear, and Presumed. Assertions made by the decision-making group should be subject to constant challenge as facts are distinguished from assumptions.
In corporate settings, we try to leave key assumptions in clear view on a white board or flip chart to remind us that our deliberations are built on a foundation of beliefs that may or may not ultimately stand as facts. As the intelligence-gathering process continues, the list of assumptions can be changed with the swipe of a white-board eraser, signaling to all that decisions should be tested against the latest set of assumptions.
When decision-makers refer to other decisions made in the past, they sometimes reveal assumptions that are so deeply embedded in their thinking that they are unaware of the extent to which the present decision-making process is flowing through a channel laid out by the flow of previous decisions and events.
33. Build a competitive intelligence-gathering process for your company.
As Napoleon said, “the right information at the right time is 9/10 of any battle”. Intelligence-gathering involves seeking both the knowable facts and the reasonable estimates of unknowables that you will need to make decisions. To set up an effective intelligence gathering system, we ask clients to agree to the following principles:
Information is factual — Intelligence, on the other hand, is a collection of information pieces that have been filtered, distilled, and analyzed.
Intelligence, not information, is what managers need to make decisions — Another word for intelligence is knowledge.
Information has become a commodity — Intelligence is the most important source of competitive advantage today.
34. Examine your mental models, theories and strategic frames.
For the strategist, a useful theory provides a way of understanding the dynamics of the complex strategic environment, recognizable indicators or warning signals of change, and agreed-upon means of dealing with change. Simply put, a theory is one’s notion of cause and effect.
In his influential book The Fifth Discipline, Peter Senge refers to hypotheses about cause and effect as mental models. To Senge, mental models are “deeply ingrained assumptions, generalizations, or even pictures and images that influence how we understand the world and how we take action” (Senge 1990: page 8). Mental models are useful and, indeed, unavoidable.
By nature, we form beliefs about cause and effect. One person may form a mental model that says people are best moved toward excellent work by the promise of monetary rewards. Someone else may hold to the mental model that the best determinant of good and diligent work is the intrinsic satisfaction of the effort itself.
Both of these mental models can be stated in cause and effect terms. A good mental model is “disconfirmable.” That is, we can put models and hypotheses to the test through experimentation or simply through continued observation of events and results.
A MOOC is a “Massive Open Online Course”. Stanford offers several free MOOC’s of interest to the strategic thinker. Stanford Online offers a variety of professional education opportunities in conjunction with many of the University’s schools and departments, and free online courses taught by Stanford faculty to lifelong learners worldwide.
37. Conduct a Customer Value Analysis (CVA).
If customers can obtain greater value elsewhere, they will. Studies have indicated that the value of a company’s product or service, as perceived by its customers, is the single best predictor of future changes in that company’s market share.
Customer Value Analysis produces more than a simple measure of customer satisfaction. It results in a more meaningful and more important measure, one that compares a company to its competitors in terms of the value provided by each. The CVA analysis answers a critical question for many companies “How satisfied are our customers with our products and services compared to our competitors’ products and services?”
Stay involved in high-level discussion about the future of your industry by joining a LinkedIn group. Not sure how? Try this: How To Join a LinkedIn Group for Dummies.
Unlike so many this group is actively managed and full of lively discussion. For example, Warren Miller recently posted a link to “New Case Study: Complex Strategic Integration at Nike.”
43. Understand the Monetizable Pain suffered by people in your target markets.
What is the pain they are feeling? What is the medicine that you provide? Remember, pain pills are easily sold. Vitamins take some persuasion.
Mark Richards, the founder of Sand Hill Partners, helps clients looking for seed capital, mentoring, and experienced, hands-on help for early stage technology startups in Silicon Valley. Mark and his partners show entrepreneurs how to quickly nail the product that will actually sell and build a repeatable, scalable business model.
Mark’s advice to companies in start-up mode: Find the Pain Point. “If your offering provides relief for Monetizable Pain, you have a real shot at building a business. If it doesn’t, well, it’s going to be a long tough slog as a startup.” Learn how to identify the pain the drives customer purchases, see Mark’s blog post called The Essential Fuel for Startup Success – “Monetizable Pain”.
44. Pay attention to the metaphors people are using.
A metaphor, according to I. A. Richards in The Philosophy of Rhetoric (1936), consists of two elements: the tenor and vehicle. The tenor is the subject to which attributes are ascribed. The vehicle is the subject from which the attributes are borrowed…. See my article Metaphors be With You!: The Strategist as Poet.
45. Conduct an employee engagement survey.
Assess your company’s culture or climate.
Collect baseline data as part of an organizational development, redesign or re-engineering effort.
Diagnose a company’s current design and business practices to identify specific improvement opportunities.
Develop and refining the components of a company’s Balanced Scorecard.
Measure and manage work group and team performance.
46. Answer Clayton Christensen’s question.
What are you customers hiring you for? If you are in the service business, this may be obvious. But Christensen’s influential HBR article he discusses what people are “hiring their milkshake for,” and how insights gleaned from the exercise can help you to orient your marketing efforts to show how your products and services meet the true needs and desires of customers.
47. Watch the movie ENRON: The Smartest Guys in the Room.
You remember Enron, don’t you? Check out this great documentary to see how a hyper-profitable mob was built by people with shining reputations. See how the company was praised by Fortune and Business Week as “Visionary” even as it created and manipulated markets that drained the lives and fortunes of innocent customers and business partners. In retrospect, here is the business model that these guys came up with:
Sell an unproven concept and get the business world to take notice.
Make billion dollar deals.
Find ways to monetize the deals by borrowing on future income.
Pay out unconscionable bonuses to the folks who did the selling and monetizing.
Don’t actually do the work since you’ve already been paid!
48. Watch the Godfather (I and II) using Michael Porter’s five forces model as a filter.
Who are the customers of the crooked organization? Suppliers? Threats and Rivals? Who are the industry complementors? It’s all there!
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49. Now in a movie mood, watch Glengarry Glenn Ross.
Want to think about how compensation systems drive behavior? Watch Alec Baldwin explain the incentive system for motivating sales of land by the sad crew of salesmen. Or just watch the unforgettable scene here on YouTube. Note that the first prize is a Cadillac Eldorado, and second prize is a set of steak knives. It’s third prize that is a little scary!
50. Rethink your strategic planning process.
For some step by step tools and processes, check out the Free Management Library, here. Carter McNamara and his team provide the best and most complete set of strategic planning tools I’ve seen.
51. Write to me and start a conversation about strategic thinking.
I am markrho “at” mindspring.com. Mindspring is an internet provider that died a long long time ago. But its memory lives on as part of my email address. I am stuck with it just as we are all stuck with typing keyboards that were designed to keep the typewriter keys from sticking together.
Unless you’re a statistical anomaly you’re using Google on a daily basis. Whether it’s your homepage, built into your browser, or powering on-site search, Google is everywhere. Alongside (and facilitated) by Google’s rise has been the increase in the impact of online search results. It’s inarguable that positive search results present a long list of benefits, while negatives can quite literally shutter a business.
With Google dominating the search game by a long shot it pays to know all its ins and outs. For a solid start, check out this infographic from Gryffon and TollFreeForwarding:
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For more resources, see the Free Management Library topic: Crisis Management
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This is a three-part story of a small Historical Society that embarked upon a Capital Campaign at the urging of their current President and her husband, who donated $1M for a major project. The campaign was undertaken without a Planning Study; and, in their second year of fundraising only $156,000 has been raised… $100,000 of which is from one donor.
(Again, this is a response to an email, with my comments in bold.)
My finance committee and I thought we would continue fundraising until our goal had been reached.
My reaction to that is that it seems that someone is not dealing with reality.
The Executive Director (without the Treasurer or approval of the Board) applied for a Bridge Loan with a local bank – which came back as an approval for a $ 500,000 Construction Loan. Such a loan (line of credit), if drawn upon, can only be paid back with future fundraising. And, there is no room in our Operating Budget to handle the monthly payments for this.
An ED applying for a loan without board approval is a definite NO-NO. I can’t understand how a bank could approve such a loan without the documents that would also be needed to conduct a capital campaign planning study — plans and specs !!
If the reality is that the organization could not pay the payments on such a loan, then the board must vote to decline the bank’s offer.
Board Members of a nonprofit have a fiduciary responsibility, and they could become liable, individually, for any debts accrued by the nonprofit. I’d strongly recommend asking the advice of an attorney with solid knowledge in nonprofit law.
I managed to get this before our entire Board of 19 members but they voted 13-6 to go along with the loan because our President and her husband offered to cover all expenses above 1.7 M conditional on board approval of the $500,000 loan. If the board did not approve this they were taking their marbles and going home.
At this point, I would advise the board to hand them their marbles and show them the door.
The future of the organization is at risk. The board should not let itself be blinded by what appears to be easy money, money they don’t have to “give or get.”
Next Week – Part Three
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and we’re now at a point where, to keep this resource alive,
we need your questions/problems to engender further discussion.
Look forward to hearing from you. Comments & Questions
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If you’re reading this on-line, and would like to comment/expand on the above piece, or would just like to offer your thoughts on the subject of this posting, we encourage you to “Leave a Reply.” If you’re reading this as an email, and you want to comment on the above piece, email Comments to offer your thoughts. Your comments, with appropriate attribution, could be the basis of a new posting.
As noted in the previous content (Part One), an Action Plan is extremely detailed. It has to communicate and justify its proposal, strategy, and design. We described the initial outline of an ‘Action Plan’, as having the following material:
Acknowledgements – Listing the key players up front.
Table of Contents – Denoting the breakdown and location of the content.
Executive Summary – Providing a short but concise explanation of the action plan.
Introduction – Providing the overview and reasons behind the plan.
Overview – Describing in detail what is needed, who is affected, the definitions needed to be understood, and the approach taken to derive the findings.
After the above sections, we can now structure the document as follows:
Goals
Note the goals and strategy of the ‘Action Plan’
Beginning – Describe how the plan will be initiated; the ‘why’, and the reasoning behind it. List all stakeholders and target audiences affected and any required agreements. Describe new policies and roles created; including any amendments.
Building a team – Describe how a team will be formed; include partnerships and task forces.
Building the infrastructure – Describe how the new organization will function.
Setting the groundwork – Describe how to achieve the goal; include project schedule, resources, budgets, and any new standards or programs. Include everything that will be affected.
Preparing the population or audience – Describe how the target audience will be notified and what education is required for understanding functionality and requirements, i.e., through meetings and seminars. Include how to measure the audience reaction and ROI, i.e., through voting or analysis.
Benefits
Note all benefits of the plan.
State why the plan is needed, i.e., how it fills a void, or how it solves a persistent problem.
List the benefits. For example, state how the client, organization, or target audience can function more efficiently, gain more momentum, or reap more rewards, such as decreased productivity costs, better communication between employees, more security, or providing advantages of a new product, application, or process.
Cost
Note the budget involved.
State how the proposal will be accomplished within a budget. List future and current costs involved.
List all financing and loans, such as where funds will be used, found, and the maximum budgeting involved, as well as grants, third party financing, etc.
Note the tools that will be used to complete the project on schedule and what might be needed if the project lasts longer. Note down critical milestones.
Reporting
Note the required reports.
Generate reports on the project status and its budget. Describe possible bottlenecks and problems, such as ‘What if it doesn’t work’, or ‘limitations if not completely accomplished’ and any unexpected issues.
Provide analysis on ‘should wok be done a step at a time or go full force’ and ‘complete within x number of years, months, etc.’
Hope this has been helpful. As with any documentation, be precise and accurate. If you have previously created an action plan, please add to this content. Thank you.
Misguided attempts at creating viral social media campaigns are constantly leading to crisis, yet organizations of all kinds continue to utterly fail to predict potential negative reactions. Case in point, IBM ticked off a hefty number of Twitter users when it attempted to launch a campaign pushing for more women to enter STEM careers. Certainly a good cause…but you kinda spoil the whole statement when you decide to use the hashtag #HackAHairDryer.
Females from STEM fields and their supporters were quite understandably offended, and took to Twitter to mock the campaign with shares like this:
@IBM shame I don’t use a hairdryer. I guess that’s the end of my career in STEM. Brb quitting my astrophysics PhD. #HackAHairDryer
Facing mass criticism that quickly bled over from social media into more traditional channels, IBM removed content created for the campaign from the web and canceled any further promotions stating, “(The video) missed the mark for some and we apologize. It is being discontinued.”
The sheer frequency of these events is what led us to create our AvoidTheApology service, and although there are alternatives to placing a foot firmly in one’s own mouth we’ve no doubt many will continue to fail to predict the consequences of their actions.
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For more resources, see the Free Management Library topic: Crisis Management
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Media, PR, and our specialty of crisis management are inextricably intertwined. Knowing how to deal with and best approach the media, as well as understanding what they will think of your actions, is important to getting the message you want the public to see out there.
A BusinessWired infographic made this point quite well, along with providing rules for media relations that will apply as well in the new year as they did for this one:
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