Closing the Knowledge Divide: How to Build the Business of the Future
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Presentation given on April 25th to TrueU in Indianapolis, IN. This is a new presentation focused on how to close the knowledge divide through speed, access and analytics and what it takes to build the business of the future.
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Closing the Knowledge Divide: How to Build the Business of the Future
- 1. CLOSING the KNOWLEDGE DIVIDE Kyle Lacy (@kyleplacy) Steps to Building the Business of the Future
- 4. My Career
- 5. Lessonly is used by thousands of teams to translate important work knowledge into lessons that accelerate productivity.
- 6. The Reality of Business in 2017
- 7. THE ORGANIZATIONS OF THE FUTURE The rules are crusty and old. OLD RULES Organized for efficiency and effectiveness Company viewed as a hierarchy, with decision rights, structure, and leadership progression Structure based on business function with functional leaders and global functional groups People “become leaders” through promotion Lead by direction Culture ruled by fear of failure and perceptions of others Roles and job titles clearly defined Deloitte University Press | dupress.deloitte.com
- 8. We must understand change.
- 10. $205,000,000,000 total estimated cash reserve
- 11. Technology Highest Performing Teams and Businesses RateofChange Time Typical Businesses Deloitte University Press | dupress.deloitte.com
- 13. Deloitte University Press | dupress.deloitte.com RateofChange Time Individuals Technology Highest Performing Teams and Businesses Typical Businesses
- 14. Deloitte University Press | dupress.deloitte.com RateofChange Time Individuals Technology Highest Performing Teams and Businesses Typical Businesses KNOWLEDGE DIVIDE
- 15. KNOWLEDGE DIVIDE: the gap between those who can find, create, manage, process and disseminate information and those who are impaired in the process.
- 16. The impact of this divide is real.
- 17. “People are falling behind because technology is advancing so fast and our skills and organizations aren’t keeping up.” — Erik Brynjolfsson, MIT
- 18. Netflix vs. Blockbuster (2004 - 2010) $6 Billion Time $4 Billion $2 Billion $0 Blockbuster Revenue Netflix Revenue
- 19. “Companies rarely die from moving too fast, and they frequently die from moving too slowly.” —Reed Hastings, Netflix
- 20. Netflix is a $60 billion company. That’s 12x Blockbuster’s peak value.
- 21. Deloitte University Press | dupress.deloitte.com RateofChange Time KNOWLEDGE DIVIDE
- 23. SPEED
- 24. RULES AROUND SPEED Empower Change Share Before Your Are Ready Minimum Barrier to Entry
- 25. EMPOWERING CHANGE Old way vs the New way OLD WAY Company viewed as a hierarchy, with decision rights, structure, and leadership progression NEW WAY Company viewed as an agile network, empowered by team leaders and fueled by collaboration and knowledge-sharing.
- 26. EMPOWERING CHANGE Technology to bridge the gap.
- 27. Summary of Freedom & Responsibility ◦ As We Grow, Minimize Rules ◦ Inhibit Chaos with Ever More High Performance People ◦ Flexibility is More Important then Efficiency in the Long Term
- 28. Minimum Barrier to Entry
- 29. 1999
- 31. VENMO GROWTH CONTINUES TO CLIMB Total payment volume over time (2013-2016) In Q116 alone, Venmo processed 3.2 billion, a 154% increase from Q1 2015
- 34. RULES AROUND SPEED Change is happening. It’s just a matter of how fast. Embrace the speed of change: How do you speed up the slower traditional operating model? Understand how strategy, connectedness, customers, and talent pools are all changing as part of the digital transformation. (Deloitte) Make MVP a core value: Share before you are ready. Your customers are your best sales people. Build in processes to support simplicity in product design. Examine new communication tools: Consider technologies like Workplace, Slack, Base- camp, Asana, Trello, Workboard, and others. (Deloitte)
- 35. ACCESS
- 36. RULES AROUND ACCESS Just-in-Time Knowledge Personalization Matters Experience Driven
- 37. ACCESS MATTERS There are two areas of impact… KNOWLEDGE LEADERSHIP
- 38. When you need it now Type to search Google Search I’m Feeling Lucky
- 39. JUST-IN-TIME: denoting a manufacturing system in which materials or components are delivered immediately before they are required in order to minimize inventory costs.
- 40. AMAZON IS PURE GENIUS Anticipatory shipping. “Amazon says it may box and ship products it expects customers in a specific area will want—based on previous orders and other factors…”
- 43. ACCESS TO LEADERSHIP Open the lines of communication and transparency In 2007, Dorsey started sending out a weekly email to everyone at ExactTarget called “My Friday Note.” Typically, it included a variety of personal notes and photos from his travels, as well as reflections on the previous week, key company metrics (nothing was off limits), and important changes to growth strategy.
- 44. ACCESS TO LEADERSHIP Open the lines of communication and transparency In five years, Scott never missed a weekly email — even if he was on vacation, or dealing with the rigors of fundraising and scale — and that had a hugely positive impact on employee engagement.
- 45. ANALYTICS
- 46. “We all have beliefs, tendencies, and desires that are formed and sustained—not by data—but by some combination of our past and our pride. When we deem any one of these beliefs, tendencies, or desires to be incontrovertibly true, the result is dogma.” — Max Yoder
- 47. “We must move from numbers keeping score to numbers that drive better actions.” — David Walmsley
- 48. METRICS THAT MATTER Data helps the company focus. Quantitative Qualitative • Churn Analysis • Sales & Marketing KPIs • Win/Loss Reviews • Customer Surveys • Employee Surveys • Product Usage Stats
- 52. We believe providing (individual) with this (service) will result in this (outcome). We will know this when we see (measureable result). @JimKalbach - Jim Kalbach
- 53. THE ORGANIZATIONS OF THE FUTURE Old vs New Old rules New Rules Organized for efficiency and effectiveness Company viewed as a hierarchy, with decision rights, structure, and leadership progression Structure based on business function with functional leaders and global functional groups People “become leaders” through promotion Lead by direction Culture ruled by fear of failure and perceptions of others Roles and job titles clearly defined Deloitte University Press | dupress.deloitte.com
- 54. THE ORGANIZATIONS OF THE FUTURE Old vs New Old rules New Rules Organized for efficiency and effectiveness Organized for learning, innovation and customer impact Company viewed as a hierarchy, with decision rights, structure, and leadership progression Company viewed as an agile network, empowered by team leaders and fueled by collaboration and knowledge-sharing. Structure based on business function with functional leaders and global functional groups Structure based on work and projects, with teams focused on products, customers, and services People “become leaders” through promotion People “create followers” to grow in influence and authority Lead by direction Lead by orchestration Culture ruled by fear of failure and perceptions of others Culture of safety, abundance, and importance of risk- taking and innovation Roles and job titles clearly defined Teams and responsibilities clearly defined, but roles and job titles change regularly Deloitte University Press | dupress.deloitte.com
- 55. The company is viewed as an agile network, empowered by team leaders and fueled by collaboration and knowledge-sharing.