The Adaptable Organization Series: Part 5: The Ecosystem — from capitalhblog.deloitte.com; posted by Don Miller and Tiffany McDowell

Excerpt:

In an Adaptable Organization, understanding the external environment becomes a continuous activity that fuels constant efforts to evolve the business.

Encouraging people to constantly sense the external environment helps people inside the organization to be open about what they are seeing and how they believe it will impact the organization.

It is a stark contrast to the “set it and forget it” strategy and organizational design that traditionally occurred every three to five years.

Yet this expansive system can easily become misaligned and requires a greater purpose to remain connected.

A shared purpose connects the ecosystem; defines success through the eyes of customers, stakeholders and society; and helps motivate people to succeed. Not only are Adaptable Organizations able to respond quickly to changes, but they also take their role as a social enterprise seriously, moving away from being solely a “business enterprise.” These organizations aim to engage and connect with the hearts and minds of their workers, customers, communities, and societies-at-large. Adaptable Organizations are grounded in social purpose and bring teams on a journey while responding to changes with agility, speed, and ease.

A shared purpose holds the ecosystem together. Direction is given from the shared purpose and not from an organizational hierarchy. By bringing a purpose statement to life and connecting the dots for workers through storytelling and meaningful narratives, workers are more likely to commit to the organization’s strategy and execution.

 


A Financial Crisis — Student Loan Debt — from freedomdebtrelief.com by Micahel Micheletti; with thanks to Aimée Bennett (APR, Principal, Fagan Business Communications, Inc.) for this resource

Key findings

1)  Impact of student loan debt on stress, day-to-day life (college attendees/grads)

  • 67% of respondents said the cost of their college education has caused them to feel overwhelmed.
  • 47% said their college education cost has contributed to mental or emotional health issues (e.g., anxiety, depression).
  • 38% said the cost has caused them to lose sleep at night.
  • 49% said the cost of their college education has impacted their choice of where to live.
  • 42% said it impacted their choice of careers or jobs.

2)  Impact of student loan debt on finances (college attendees/grads)

  • 59% respondents said they can’t save any money because of the cost of their college education.
  • 45% said they can’t go on vacation because of college costs.
  • 32% said they are carrying credit card debt because of college costs.
  • 48% said they have been unable to pay off (or down), or have delayed paying off (or down), other types of debt because of the cost of college.
  • 47% have been unable to, or have delayed contributing to, saving for emergencies.
  • 43% believe their college education cost has impacted their retirement age.

3) Willing to make sacrifices to eliminate student loan debt (college attendees/grads)

  • 52% of respondents said they would take a job with a salary less than what they expected if the company paid off their student debt.
  • 27% said they would be willing to commit a maximum of five years to a company if they paid off their student loans; 28% said they would be willing to commit more than five years.

4) Impact of child’s student loan debt on parents

  • 20% of parents said their child’s college education cost has contributed to mental or emotional health issues (e.g., anxiety, depression) of their own.
  • 20% of parents said their child’s college education cost has caused them to lose sleep at night.
  • 40% of parents believe their child’s college education cost has impacted their retirement age; 41% said the cost has impacted their overall retirement plan.
  • 42% said they had given up saving for retirement; 42% gave up going on vacation.

 

Additional survey findings

1) Student loan debt reforms

  • 54% of students said they feel that student loan debt should be forgiven by the federal government.
  • 63% of students, and 52% of parents, said they would support expanding student loan forgiveness for those in public service (e.g., teachers, government employees, first responders, military service).
  • 54% of students, and 42% of parents, said they would support free or subsidized tuition for low-income households.
  • 53% of students, and 50% of parents, said they would support tax breaks for companies that offer student-loan repayment programs.

2) Expected length of time to pay off student loan debt

3) Lack of knowledge of loan terms, types – among both college attendees/grads and parents

 

 

 

Also see:

 

 


From DSC:
This type of thing makes me wonder about the future of the legal profession as well. For example, here’s a relevant quote from The Uberization of Legal Technology by Felix Shipkevich:

In an age when there’s an app for everything, whether it’s to book air travel, rent a car, sell products or start a business, there wasn’t an app that could simply and easily connect you with legal counsel. Giving consumers a tool to book free consultations is the future of law, and the heart of attorney business development. 

Consumers have historically had little access to attorneys for a variety of reasons. First, unlike for doctors and mechanics, there is no annual legal checkup (though perhaps there should be). Consumers may be intimidated by not knowing costs upfront or even knowing if they have a case worth discussing. Assuming that every American will have at least three legal questions annually, there’s an untapped market of over a billion potential legal inquiries every year.


 

And by the way, as legal-related matters aren’t taught much in K-16, that’s an interesting idea:

First, unlike for doctors and mechanics, there is no annual legal checkup (though perhaps there should be).

 


 

 

A quick tip from RetrievalPractice.org’s e-newsletter today:

#1: Remember your lesson plan with a 1-minute reflection
Can’t remember how a lesson from last semester or last year went? On the bottom or back of a lesson plan, include two questions:
What went well? What should I do differently next time? 
As soon as you’re done with the lesson, take just one minute to write down a note to your future self. Stuff all your lesson plans/reflections into a folder. The next time you teach the lesson, future-you will be glad that past-you retrieved!

 

 

 

After 40 Years of Constant Change, What’s Next for the Legal Industry?  — from law.com by Dan Packel
Few could have anticipated the dramatic shift in scope and scale the industry has undergone since The American Lawyer’s founding 40 years ago. We asked some of the law’s brightest thinkers what we can expect over the next 10.

Excerpts (emphasis DSC):

Technology and Upheaval
While it’s easy to conclude that the technological revolution that’s already been unleashed will continue to drive transformation over the next 10 years, it’s harder to pinpoint how.

Expect more and more tasks to become subject to automation—not just contracts and e-discovery but also areas like trademarks and due diligence for mergers, for starters.

Technology and artificial intelligence on their own are noteworthy, but what’s more compelling is the impact they will have on how firms are structured.

“Everything that can be taken out of the hands of subject-matter experts and handed over to the process experts and technologists will be,” says Orrick, Herrington & Sutcliffe Chairman and CEO Mitch Zuklie. “There will be far fewer associates sitting in rooms with documents and more strategic partnerships among law firms and legal tech providers.”

This transition could help chip away at the supremacy of the billable hour.

Not only will technology move up the value chain for litigation, it will also emerge as a greater player on the deal side. Jae Um, director of pricing strategy at Baker McKenzie, expects to see a much greater focus on compliance and regulatory technology in the next five years.

As AI solutions, which depend upon machine learning, are slowly deployed in the marketplace, their efficacy will inevitably grow.

 

How about a little wild speculation to wrap this up?  With more nonlawyer specialists finding professional homes in law firms, it’s a short leap to hybrids between law firms and professional services operations. Imagine consultants and accountants working together with lawyers and technologists to solve clients’ increasingly complex problems. And what about a high-profile merger between a Big Four firm and a global law firm? I wouldn’t rule it out.

 

 

Four Big Themes Of Legal Tech + Innovation in 2019 — from artificiallawyer.com

Excerpt:

Many people are now heading off on holiday after what has been a frenetic period of change in the realm of legal tech and law firm innovation. In this article Artificial Lawyer identifies four key themes that help to make sense of what is happening.

These four themes are:

  1. Consolidation and Platformization;
  2. Continued Proliferation of Legal Tech Companies;
  3. Incubator/Accelerator Growth;
  4. More Than Law – Law Firms as Tech Producers.
 

What to expect at IFA 2019, Europe’s colossal tech show — from digitaltrends.com by Josh Levenson

Excerpt:

This week, the world’s leading manufacturers will take to the stage at IFA 2019 in Berlin, Germany, to showcase their latest innovations. Here’s what you need to know about this year’s show, including when it’s set to start, how long it will run for, where it’s held, the schedule, and all the devices we’re expecting to see unveiled by the likes of LG, Sony, Samsung, and more.

 

Samsung’s take on the world of 2069 — from newatlas.com by David Szondy

Excerpt:

Samsung is looking forward to what life might be like in the year 2069. The new report, called Samsung KX50: The Future in Focus, draws on the opinions of six of Britain’s leading academics and futurists to look at a range of new technologies that will affect people’s everyday lives.

 

 

 

10 Must-Have Elements in a Structured Online Learning Journey [Infographic] — from blog.commlabindia.com

Excerpt:

Haven’t we all heard that it’s always about the journey and not the destination? It’s the same for learning as well. Simply dumping content in an online format doesn’t make learning effective. What matters is designing and developing content, keeping in mind adult learning principles and strong instructional design.

If learning has to be an enriching experience, work on crafting a memorable learning journey. Wondering how to do this?

 

Western Michigan’s Law School Cuts Tuition — from insidehighered.com by Paul Fain

Excerpt:

While several highly selective law schools for the first time are charging more than $100,000 per year in total cost of attendance, Western Michigan University‘s Cooley Law School this week announcedthat it was reducing tuition rates beginning next year from $1,750 per credit hour to $1,375, a decline of 21 percent.

 

Cooley Law School to lower tuition by 21%, close Auburn Hills campus — from mlive.com by Julie Mack

Excerpt:

Western Michigan University Cooley Law School plans to cut its tuition by 21% in fall 2020, close its campus in Auburn Hills in December 2020 and “reduce the footprint” of its Lansing campus.

No staff reductions are planned, a press release said.

The school’s Board of Directors approved the “bold plan” this week to “sustain and strengthen the law school’s access mission” and “current and future campus efficiencies,” the press release said.

 

Disclosure from DSC:
The WMU-Cooley Law School is where I’ve worked since March 2018. I’m very happy to see this reduction in tuition! I’d like to see this type of price reduction occur throughout higher education.

I have learned a lot in my time at Cooley, and I have a lot more to learn. But I just wanted to say that I’m so impressed with the people who work at Cooley! They are a very welcoming, classy, caring, extremely knowledgeable, talented, mission-driven group of people. They have developed an organization that works to positively change the world and provide greater access to justice.

 
 

How Artificial Intelligence and Machine Learning Transforms Video Technology — from datafloq.com

AI and machine learning have many use cases in digital video technology. Here are several of them…

 

Why GCs Aren’t Buying What Legal Tech Is Selling and Why It Matters for Firms — from law.com by Zach Warren and Gina Passarella Cipriani
Legal technology companies have to get out of their own way in vying for law department adoption, and buyers need to know what they want.

Excerpt:

The legal technology industry has some significant hurdles to overcome in its increased push to sell into legal departments, general counsel say. And GCs admit that they are part of the problem.

On the one hand, technology companies aren’t doing themselves any favors by flooding the market with, at times, dozens of the same offerings, few of which solve specific problems the in-house community has, GCs say. But at the same time, general counsel admit to being distracted, budget-constrained and often unfamiliar with the capabilities of the products they are being pitched.

“It’s overwhelming,” says HUB International chief legal officer John Albright. “There are hundreds of these vendors, and most of them you’ve never heard of.”

As Albright sees it, the legal technology industry is “heavily fragmented,” with vendors selling solutions to a discrete issue that doesn’t necessarily solve the full problem he has or fit into the larger organization’s information systems.

 

Also see:

  • Artificial Intelligence Further Exacerbates Inequality In Discrimination Lawsuits — from forbes.com by Patricia Barnes
    Excerpt:
    The legal system just keeps getting more and more unequal for American workers who are victims of employment discrimination, wage and hour theft, etc. The newest development is that America’s top employers and the law firms that represent them are using artificial intelligence (AI) tools to automate their responses to workers’ legal claims, thereby increasing efficiency while cutting costs.
 

Eight tips to thrive in the evolving legal landscape — from lawtechnologytoday.org by Bethany Runyon

Excerpt:

There is no question that technology has changed the way lawyers work, shaped how law firms operate and affected organizational culture. The business of law is more complex and competitive than ever, and it will only continue to evolve as alternative service providers gain ground, pricing structures change and client expectations shift.

To get you prepared, our team at HighQ would like to offer eight tips to thrive in the evolving legal landscape.

 

Uh-oh: Silicon Valley is building a Chinese-style social credit system — from fastcompany.com by Mike Elgan
In China, scoring citizens’ behavior is official government policy. U.S. companies are increasingly doing something similar, outside the law.

Excerpts (emphasis DSC):

Have you heard about China’s social credit system? It’s a technology-enabled, surveillance-based nationwide program designed to nudge citizens toward better behavior. The ultimate goal is to “allow the trustworthy to roam everywhere under heaven while making it hard for the discredited to take a single step,” according to the Chinese government.

In place since 2014, the social credit system is a work in progress that could evolve by next year into a single, nationwide point system for all Chinese citizens, akin to a financial credit score. It aims to punish for transgressions that can include membership in or support for the Falun Gong or Tibetan Buddhism, failure to pay debts, excessive video gaming, criticizing the government, late payments, failing to sweep the sidewalk in front of your store or house, smoking or playing loud music on trains, jaywalking, and other actions deemed illegal or unacceptable by the Chinese government.

IT CAN HAPPEN HERE
Many Westerners are disturbed by what they read about China’s social credit system. But such systems, it turns out, are not unique to China. A parallel system is developing in the United States, in part as the result of Silicon Valley and technology-industry user policies, and in part by surveillance of social media activity by private companies.

Here are some of the elements of America’s growing social credit system.

 

If current trends hold, it’s possible that in the future a majority of misdemeanors and even some felonies will be punished not by Washington, D.C., but by Silicon Valley. It’s a slippery slope away from democracy and toward corporatocracy.

 

From DSC:
Who’s to say what gains a citizen points and what subtracts from their score? If one believes a certain thing, is that a plus or a minus? And what might be tied to someone’s score? The ability to obtain food? Medicine/healthcare? Clothing? Social Security payments? Other?

We are giving a huge amount of power to a handful of corporations…trust comes into play…at least for me. Even internally, the big tech co’s seem to be struggling as to the ethical ramifications of what they’re working on (in a variety of areas). 

Is the stage being set for a “Person of Interest” Version 2.0?

 

Looking for something?

Use the form below to search the site:

Still not finding what you're looking for? Drop a comment on a post or contact us so we can take care of it!

© 2019 | Daniel Christian