“Strategy is about folding the future back – it’s not about pushing the present forward!”

Vijay Govindarajan, keynote speaker
at today’s Law 2030 event;
also see the recording here

Law 2030

You can also find video of Day 1 here and Day 2 here.
The PowerPoint slides from each presenter are available at https://www.law2030.org.

From DSC:
The keynote at this morning’s Law 2030 event was done by Vijay Govindarajan, Coxe Distinguished Professor at Dartmouth College’s Tuck School of Business. Vijay offered up a great presentation that reminded me to:

  • THINK BIG!
  • Establish a sizable possibility gap!
  • Have unrealistic goals!
  • Don’t limit your future accomplishments with current expectations!
  • Strive to live to your potential!

His keynote made me think of this graphic from a while back:

We need to think big!

Below is one of the slides from his talk:

Also see the Law2030 hashtag over on Twitter.

 

Four storytelling techniques to bring your data to life — from sloanreview.mit.edu by Nancy Duarte

Excerpt:

Even though most corporate roles now work with data, it’s shockingly easy to forget that people generate most of it. When a user clicks a link, gets blood taken at the lab, or sets up a smartwatch, that person generates data. As people move, buy, sell, use, work, and live, their actions nudge numbers up or down and drive organizational decisions, big and small.

If it’s your role to communicate data insights and persuade people to change their behavior, you’ll have more influence and promote better decision-making if you emphasize the people behind the numbers. In a story, we root for the hero as he or she maneuvers through roadblocks. To use data to steer your organization in the right direction, you need to tap into the human tale your data can tell.

 

 

From DSC:
The items below are meant for those involved with digital transformation, developing strategy, and keeping one’s organization thriving into the future.


Strategy in the Digital Revolution with Ryan McManus — from dukece.com; with thanks to Laura Goodrich for this resource out on Twitter

Description of webinar:
Today, every business is focused on digital transformation, yet most organizations are struggling to realize value from their efforts and investments. Less than 20% of business leaders believe their digital transformation efforts have been successful. With unprecedented access to data and technology, how is it that firms and their leaders are experiencing such disappointing results?

At the root of the problem is the disconnect between how leaders understand strategy and the new rules of the digital revolution. Most leaders haven’t been taught how to think about a world that is very different from the one which gave rise to popular strategic concepts, and as a result, they apply outdated strategy models and thinking to the new world, trying to squeeze the competitive realities of the digital revolution into linear, analog strategic planning concepts.

In this complimentary on-demand webinar, Ryan McManus, lecturer at Columbia University Business School and Duke Corporate Education, discusses the New Strategy Playbook, including:

  • The current state and evolution of the digital revolution, and what’s next
  • The four levels of digital strategy: how you can adapt your approach to win
  • Why traditional approaches to strategy have reached their limits
  • Implications for leadership development

Example slides:

Also see:

http://dialoguereview.com/how-to-think-strategically-in-2020/

 

5 Reasons Why BU’s $24K MBA Is A Big Deal — from insidehighered.com by Joshua Kim
Why I’m intrigued.

Excerpt:

The newly announced $24K BU MBA, created in partnership with edX, is a big deal.

Here are 5 reasons why:
#1: The Evolving Connection Between Status and Price:

The Boston University Questrom School of Business is ranked in the top 50 global business schools by US News, in the top 70 by the Economist. Questrom is a brand name business school in a market where the value of the MBA is directly proportional to the status of the institution.

Today, status and price are tightly correlated in the postsecondary market. This is especially true in professional education. Student prices are not set at costs, but at perceived value.

BU should be given credit for challenging this status quo. I suspect that the Questrom $24K MBA will end up improving BU’s place in the global MBA rankings.

 

What is different now is that it will not only be enthusiasm for learning science that will drive schools (and MBA programs) to improve their programs. It will be the market. 

 
 

‘Robots’ Are Not ‘Coming for Your Job’—Management Is — from gizmodo.com by Brian Merchant; with a special thanks going out to Keesa Johnson for her posting this out on LinkedIn

A robot is not ‘coming for’, or ‘stealing’ or ‘killing’ or ‘threatening’ to take away your job. Management is.

Excerpt (emphasis DSC):

At first glance, this might like a nitpicky semantic complaint, but I assure you it’s not—this phrasing helps, and has historically helped, mask the agency behind the *decision* to automate jobs. And this decision is not made by ‘robots,’ but management. It is a decision most often made with the intention of saving a company or institution money by reducing human labor costs (though it is also made in the interests of bolstering efficiency and improving operations and safety). It is a human decision that ultimately eliminates the job.

 

From DSC:
I’ve often said that if all the C-Suite cares about is maximizing profits — instead of thinking about their fellow humankind and society as a whole —  we’re in big trouble.

If the thinking goes, “Heh — it’s just business!” <– Again, then we’re in big trouble here.

Just because we can, should we? Many people should be reflecting upon this question…and not just members of the C-Suite.

 

 

 

U of I to end on-campus MBA classes — from chicagobusiness.com by Lynne Marek
The Gies College of Business in Urbana-Champaign will direct more resources to its fast-growing online MBA program, among others. “The iMBA is the right format for the times,” according to the dean.

Excerpt:

The university has seen significant growth in its online MBA program since launching it in 2016. Enrollment in that ‘iMBA’ program increased more than tenfold to 1,955 for the most recent school year, up from 114 students in the first year. Meanwhile, the on-campus MBA student population has been declining, as it has at other U.S. universities, slipping to just 98 students in the most recent school year, from 149 in 2016. That’s happening at U.S. universities across the U.S. as more specialized graduate business degrees gain traction.

 

From DSC:
For busy working adults (who are also often parents), the online format is hard to beat in terms of convenience and using one’s time wisely.

 

From DSC:
First a posting that got me to wondering about something that I’ve previously wondered about from time to time…

College of Business unveils classroom of the future — from biz.source.colostate.edu by Joe Giordano

Excerpt:

Equipped with a wall of 27 high-definition video screens as well as five high-end cameras, the newest classroom in Colorado State University’s College of Business is designed to connect on-campus and online students in a whole new way.

The College of Business unveiled on March 29 the “Room of the Future,” featuring Mosaic, an innovative technology – powered by mashme.io – that creates a blended classroom experience, connecting on-campus and online students in real time.

 

From DSC:
If the pedagogies could be worked out, this could be a very attractive model for many people in the future as it:

  • Provides convenience.
  • Offers more choice. More control. (Students could pick whether they want to attend the class virtually or in a physical classroom).

If the resulting increase in students could bring down the price of offering the course, will we see this model flourish in the near future? 

For struggling colleges and universities, could this help increase the ROI of offering their classes on their physical campuses?

The technologies behind this are not cheap though…and that could be a show-stopper for this type of an experiment. But…thinking out loud again…what if there were a cheaper way to view a group of other people in your learning community? Perhaps there will be a solution using some form of Extended Reality (XR)…hmmm….

 

 

 

 

 

 

 

 

Also see:

 

Also see:

Learning from the Living Class Room

 

 

HBS Online: Why Harvard Business School’s digital rebrand is big news for online learning — from businessbecause.com by Seb Murray
Name change from HBX to Harvard Business School Online symbolizes a maturing market. We speak to Patrick Mullane, executive director of HBS Online, to find out more

Excerpt:

At first glance, it may have seemed like an inconsequential name change: Harvard Business School’s digital learning platform HBX would be called HBS Online.

But commentators have billed the recent rebrand as having the potential for a big impact on online education. For one, the makeover could help to further legitimize the market.

Online learning was initially considered second-rate to campus study, due to concerns about teaching quality and interactivity online. Nitin Nohria, the dean of HBS, saying in 2010 that the school would never go online in his lifetime, appeared to confirm the scepticism.

But he has since admitted he ‘misjudged the potential of online education’ and is…

 

From DSC:
This is very old hat…but those who haven’t taught online should not judge online teaching and learning. If I gave you the writeups from my students from a class that I have taught in both a face-to-face format as well as in an online format — where I ask them what they learned during the class — I swear that you could not tell which documents represented those courses taught online vs. those taught face-to-face. I guarantee it. So as the saying goes…don’t judge it if you haven’t tried it.

Oh…and by the way, many of the innovations in teaching and learning are happening in the digital/virtual realm. Not all, but many. And we haven’t seen anything yet. 

 

 

For a next gen learning platform: A Netflix-like interface to check out potential functionalities / educationally-related “apps” [Christian]

From DSC:
In a next generation learning system, it would be sharp/beneficial to have a Netflix-like interface to check out potential functionalities that you could turn on and off (at will) — as one component of your learning ecosystem that could feature a setup located in your living room or office.

For example, put a Netflix-like interface to the apps out at eduappcenter.com (i.e., using a rolling interface at first, then going to a static page/listing of apps…again…similar to Netflix).

 

A Netflix-like interface to check out potential functionalities / educationally-related apps

 

 

 

Accenture Technology Vision 2019: The post-digital era is upon us — from accenture.com

In brief

  • Digital transformation grants companies exceptional capabilities. But it also creates enormous expectations.
  • Amid these rising expectations, every business is investing in digital technologies, raising the question of how leaders will set themselves apart.
  • Companies looking to differentiate themselves must be aware of five distinct trends that will characterize the “post-digital” future.

 

 

Here is the link for the report.

 

 

AI bias: 9 questions leaders should ask — from enterprisersproject.com by Kevin Casey
Artificial intelligence bias can create problems ranging from bad business decisions to injustice. Use these questions to fight off potential biases in your AI systems.

Excerpt:

People questions to ask about AI bias
1. Who is building the algorithms?
2. Do your AI & ML teams take responsibility for how their work will be used?
3. Who should lead an organization’s effort to identify bias in its AI systems?
4. How is my training data constructed?

Data questions to ask about AI bias
5. Is the data set comprehensive?
6. Do you have multiple sources of data?

Management questions to ask about AI bias
7. What proportion of resources is appropriate for an organization to devote to assessing potential bias?
8. Have you thought deeply about what metrics you use to evaluate your work?
9. How can we test for bias in training data?

 

 

Top six AI and automation trends for 2019 — from forbes.com by Daniel Newman

Excerpt:

If your company hasn’t yet created a plan for AI and automation throughout your enterprise, you have some work to do. Experts believe AI will add nearly $16 trillion to the global economy by 2030, and 20 % of companies surveyed are already planning to incorporate AI throughout their companies next year. As 2018 winds down, now is the time to take a look at some trends and predictions for AI and automation that I believe will dominate the headlines in 2019—and to think about how you may incorporate them into your own company.

 

Also see — and an insert here from DSC:

Kai-Fu has a rosier picture than I do in regards to how humanity will be impacted by AI. One simply needs to check out today’s news to see that humans have a very hard time creating unity, thinking about why businesses exist in the first place, and being kind to one another…

 

 

 

How AI can save our humanity 

 

 

 

The world is changing. Here’s how companies must adapt. — from weforum.org by Joe Kaeser, President and Chief Executive Officer, Siemens AG

Excerpts (emphasis DSC):

Although we have only seen the beginning, one thing is already clear: the Fourth Industrial Revolution is the greatest transformation human civilization has ever known. As far-reaching as the previous industrial revolutions were, they never set free such enormous transformative power.

The Fourth Industrial Revolution is transforming practically every human activity...its scope, speed and reach are unprecedented.

Enormous power (Insert from DSC: What I was trying to get at here) entails enormous risk. Yes, the stakes are high. 

 

“And make no mistake about it: we are now writing the code that will shape our collective future.” CEO of Siemens AG

 

 

Contrary to Milton Friedman’s maxim, the business of business should not just be business. Shareholder value alone should not be the yardstick. Instead, we should make stakeholder value, or better yet, social value, the benchmark for a company’s performance.

Today, stakeholders…rightfully expect companies to assume greater social responsibility, for example, by protecting the climate, fighting for social justice, aiding refugees, and training and educating workers. The business of business should be to create value for society.

This seamless integration of the virtual and the physical worlds in so-called cyber-physical systems – that is the giant leap we see today. It eclipses everything that has happened in industry so far. As in previous industrial revolutions but on a much larger scale, the Fourth Industrial Revolution will eliminate millions of jobs and create millions of new jobs.

 

“…because the Fourth Industrial Revolution runs on knowledge, we need a concurrent revolution in training and education.

If the workforce doesn’t keep up with advances in knowledge throughout their lives, how will the millions of new jobs be filled?” 

Joe Kaeser, President and Chief Executive Officer, Siemens AG

 

 


From DSC:
At least three critically important things jump out at me here:

  1. We are quickly approaching a time when people will need to be able to reinvent themselves quickly and cost-effectively, especially those with families and who are working in their (still existing) jobs. (Or have we already entered this period of time…?)
  2. There is a need to help people identify which jobs are safe to reinvent themselves to — at least for the next 5-10 years.
  3. Citizens across the globe — and their relevant legislatures, governments, and law schools — need to help close the gap between emerging technologies and whether those technologies should even be rolled out, and if so, how and with which features.

 


 

What freedoms and rights should individuals have in the digital age?

Joe Kaeser, President and Chief Executive Officer, Siemens AG

 

 

5 questions we should be asking about automation and jobs — from hbr.org by Jed Kolko

Excerpts:

  1. Will workers whose jobs are automated be able to transition to new jobs?*
  2. Who will bear the burden of automation?
  3. How will automation affect the supply of labor?
  4. How will automation affect wages, and how will wages affect automation?
  5. How will automation change job searching?

 

From DSC:
For those Economics profs and students out there, I’m posted this with you in mind; also highly applicable and relevant to MBA programs.

* I would add a few follow-up questions to question #1 above:

  • To which jobs should they transition to?
  • Who can help identify the jobs that might be safe for 5-10 years?
  • If you have a family to feed, how are you going to be able to reinvent yourself quickly and as efficiently/flexibly as possible? (Yes…constant, online-based learning comes to my mind as well, as campus-based education is great, but very time-consuming.)

 

Also see:

We Still Don’t Know Much About the Jobs the AI Economy Will Make — or Take — from medium.com by Rachel Metz with MIT Technology Review
Experts think companies need to invest in workers the way they do for other core aspects of their business they’re looking to future-proof

One big problem that could have lasting effects, she thinks, is a mismatch between the skills companies need in new employees and those that employees have or know that they can readily acquire. To fix this, she said, companies need to start investing in their workers the way they do their supply chains.

 

Per LinkedIn:

Putting robots to work is becoming more and more popularparticularly in Europe. According to the European Bank for Reconstruction and Development, Slovakian workers face a 62% median probability that their job will be automated “in the near future.” Workers in Eastern Europe face the biggest likelihood of having their jobs overtaken by machines, with the textile, agriculture and manufacturing industries seen as the most vulnerable. • Here’s what people are saying.

 

Robot Ready: Human+ Skills for the Future of Work — from economicmodeling.com

Key Findings

In Robot-Ready, we examine several striking insights:

1. Human skills—like leadership, communication, and problem solving—are among the most in-demand skills in the labor market.

2. Human skills are applied differently across career fields. To be effective, liberal arts grads must adapt their skills to the job at hand.

3. Liberal art grads should add technical skills. There is considerable demand for workers who complement their human skills with basic technical skills like data analysis and digital fluency.

4. Human+ skills are at work in a variety of fields. Human skills help liberal arts grads thrive in many career areas, including marketing, public relations, technology, and sales.

 

 

 

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