As a follow up to my debut article on Motivated Online, Pairing Passion with Purpose by Creating Shared Value, we start to explore Enabling Shared Value. First we zoom out to the birds-eye view, illustrating our roadmap at a very high level. Within each step are numerous powerful methods and frameworks to support your journey and effectively enable your Shared Value strategies. Then we zoom in and take a worms-eye view to ‘ASK’ the key preliminary questions essential to shaping a Shared Value strategy.
The goal is to put your Shared Value journey into the context of your corporate environment. In my next article we will focus on the essential “DIALOG” needed to get your Shared Value journey in motion.
Big thanks to the audacious and highly creative folks at Motivated!
One of my post popular posts to date is The Beauty of Audaciousness, marking my discovery of the brilliant Motivated Magazine. I am thrilled to share that I was invited to be their first re-occurring bi-weekly feature article focused on pairing passion with purpose. My first article was posted today! Pairing Passion with Purpose by Creating Shared Value.
Big thanks to the audacious and highly creative folks at Motivated!
While I celebrate that Customer Experience is Gaining Momentum, I believe that the intention and perception of the majority of those participating in this movement remains outdated and needs to be addressed in order to sustain and harness the untapped potential value of Customer Experience strategies.
On the left end of the spectrum we have those that approach Customer Experience strategies as a necessary expense resulting from external pressures. On the right end, we have those that view it as an opportunity to expand profits and create shared value. I suspect that for the most part we lean heavily to the left, yet we need to head due west.
If you read the examples in Michael Porter and Mark Kramer’s article on Creating Shared Value through a lens of customer experience, you will inevitably be struck by the potential value you can harness with a renewed intent and perspective. They share powerful and highly repeatable examples from companies such as Google, IBM, Intel, J&J, Nestle, Unilever, and Walmart who have all begun to demonstrate the potential of shared value. We need to move beyond our short sighted strategies and recognize that businesses and customer experiences are defined far beyond our conventional perceptions.
If you dig a little deeper into the Nestle example you will find that they have injected shared value into the core of their business; into the core of their customer experience, into the core of their employee experience. Chairman and CEO, Peter Brabeck-Letmathe says:
“It is our firm belief that, for a company to be successful over time and create value for its shareholders, it must also create value for society.”
Nestle is not just claiming to do business this way, they are proving it. More importantly they are measuring their performance and reporting the results. Not just the results of the social value, the results of the economic value. Does all this impact customer experience? It sure does! This has the potential to create authentic and sustainable customer loyalty in a way we have not seen before. As a consumer, I now get very excited about buying Nestle products, let’s face it, there are a lot of brands delivering good quality food, but a brand that has holistic purpose is a massive differentiator. This matrix diagram was developed as a conceptual framework to measure a company’s overall net impact on its stakeholder groups.
Earlier this week I had the privilege of participating in a FOCUS panel discussion with Mark Kramer to discuss shared value and measuring what matters. It was a very engaging and insightful discussion. I am looking forward to many more discussions like this as I am on a passionate quest to create awareness and help today’s leaders embrace and prosper from this meaningful change.
To get started identify all of the societal needs, benefits and harms that are embedded in your customer experience. This extends beyond your products or services, it encompasses your entire value chain and the communities of your company and customers. Then explore and discover how you can address them through your customer experiences. This will unleash a new form of innovation and deep, sustainable value that will drive customer loyalty on a whole new level. I will be exploring the “how” in much more depth in a follow up post. Stay tuned!
Want more? In this BBC interview, Porter does a brilliant job of summarizing key elements of shared value with further examples, drivers and the challenges ahead to get the financial markets converted.
I suspect the momentum of the shared value movement is going to accelerate quickly, it’s a win win proposition!
We will discuss topics including…
Ron Dimon, Managing Partner of Business Foundation will be hosting and the panel includes…
Please join us if you can!
Last month Geoffrey James provided me with the rare honour of guest posting my 5 Most Dimwitted Leadership Strategies on BNET’s Sales Machine. Geoffrey is a prolific writer with a highly provocative and cynical nature reflected in his outspoken readers. Today’s post is inspired by a number of his readers who challenged me to write about leadership strategies that DO work, strategies that foster sustainable results in today’s highly complex business environment.
Each one of these practices yields significant results on its own, but in union they become extraordinary. For the sake of consistency, my intent was to provide 5 clever leadership strategies, however I simply could not narrow my list down to less than these 6.
1. Zoom-In, Zoom-Out. Leaders need to maintain multiple vantage points, navigating with ease between a worm’s-eye and bird’s-eye perspective. Typically they favour one or the other which can hinder their ability to make good strategic decisions. Effective leaders instinctively know when to zoom in and zoom out, this strategy is critical in times of crisis or tackling complex problems. Read Rosabeth Moss Kanter’s illustration of the significance of a zoom-in, zoom-out framework to learn more.
2. Getting Naked. Vulnerability is arguably the most important leadership trait, yet it is widely shunned upon. Nothing inspires trust like confident humility, there is no more powerful attribute than honesty and from trust breeds loyalty. Patrick Lencioni, author of the very clever “Getting Naked” shares how to embrace this transformational strategy.
3. Shared Value. If you are not familiar with the Shared Valued Movement then dive in! We are finally moving beyond our outdated approach to creating value and harnessing value with purpose. Our business community is developing a global conscience and discovering it pays to act responsibly.
4. G7. The Group of 7 provides a bird’s-eye view of your corporate environment with strategies and pathways to address pervasive issues right down to the worm’s-eye view. The health of your corporate environment is an imperative determinant in your ability to embrace change and complexity.
5. Customer Experience Driven. Business starts and ends with the customer experience; a closed-loop strategy is essential. Start with these 7 Habits of Highly Successful Customer Experience Leaders and then move from effectiveness to greatness with the 8th habit.
6. Cross Fertilization. I have blogged extensively about the genius born by cross-fertilizing brilliant ideas. Creating the practice of exploring different disciplines fosters innovation and creative problem solving.
“All decisive advances in the history of scientific thought can be described in terms of mental cross-fertilization between different disciplines.” Arthur Koestler
What other brilliant strategies do you have to add?
I am very excited to be featuring Ron Dimon for my February 2011 Passion Profile. This monthly tradition was inspired by Twitter’s Follow Friday ritual where I share a little with you about the people I admire and follow. Ron is a Managing Partner and Vice President of Consulting at the Business Foundation. Unlike my previous Passion Profiles, I have the privilege of knowing Ron beyond our twitter-sphere. I would describe him as both brilliant and highly creative, but what strikes me most about Ron is his authenticity. He is insightful and a communication whisperer of sorts, he has truly mastered the art of listening and engaging .
Dawna: What are you most passionate about? And why?
Ron: At a high-level, my biggest passion and every-day concern is being a contribution. This includes to my friends & family, my community, my clients and my industry.
More specifically it’s about Enterprise Performance Management and Shared Value. This means helping organizations to integrate their day-to-day business functions, like Sales & Marketing, Customer Support, Operations, Finance, HR & IT, with the concerns of their extended stakeholders – like their customer well-being, the viability of their suppliers, and their community and environmental impact. It helps answer the questions “what do we want to do & how do we do it,” “how did we actually do & why,” and “how can we improve, share value, and make a difference?”
Dawna: What are 5 traits those that know you best would use to describe you?
Ron: Generous (helpful), responsible (reliable), creative (funny), and unable to count very well. How about “a restless learning sponge?”
And just to bring a sense of balance to my life, my sister describes me as “an idiot.” Of course, she describes all 4 of her brothers that way, and we still love her.
Dawna: What qualities do you most admire in others?
Ron: Passion (and enrollment), a bias for action, openness to new ideas & new perspectives. And a sense of humor or fun that can forward the action.
I also admire people who actually do what they said they were going to do.
Dawna: What accomplishment are you most proud of?
Ron: That I had some part in my kids – son Harry (23) and daughter Ruth (16) – being extraordinary people who have their own contributions to give the world.
Dawna: What is your top goal for 2011?
Ron: To transform Enterprise Performance Management and Shared Value from new idea to common business practice. We are getting to that tipping point and my job is to just push a little harder!
Ron, you are a breath of fresh air and I am honoured to know you both as a professional and personal friend.
Curious about my previous Passion Profiles? Cheers to Dan Rockwell, Eric Jacques, Ted Coine, Tim Sanchez, Dean van Leeuwen, S. Max Brown, David McQueen, “Write” and Linda Ireland.
After reading Creating Shared Value by Michael Porter and Mark Kramer I was certain that at minimum they had accomplished making smart sexy again. I must temper my enthusiasm for their brilliant illustration of this massively powerful movement to reflect on what this really means. I call it a “movement” because this is not the first of its kind, nor will it be the last, it is however the best I have seen to date and it marks an acceleration in this evolution. I also call it a “movement” because it is fueled by a purpose much higher than our literal economic interpretations, it is not a fad, nor is it a pipe dream, in my humble opinion, it is the work of destiny.
Porter and Kramar position their article as “capitalism under siege”… they then go on to say “… the purpose of the corporation must be redefined around creating shared value”. I want to emphasize “the purpose” because this marks a period where our spiritual evolution is partnering with our economic evolution. If I used words like “authentic” or “awareness” 10 years ago, anything I said there after would have been dismissed. A mindfulness of this union will enable you to harness the power of it. I recognize that this was not the intended meaning of the word “purpose” by authors but I am proposing we reflect on it with more meaning. After all, they are proposing a greater purpose, one that is essentially putting us all on the same team for the greater good locally and globally.
Are you a believer, a skeptic or somewhere in between?
I’m becoming obsessed with cross-fertilizing brilliant ideas. There are so many clever ideas, concepts, solutions and people in our magnificent world but on their own they seem to yield very little impact. In order to solve the complex, persistent problems of today we need to cross-fertilize and mass collaborate.
After watching Hans Rosling’s keynote from the 8th annual Passport to Global Health Celebration I was struck by how pervasive some of our false beliefs are. This may be the most powerful proof that the world is now one, this is not theoretical, it is fact, it is not “we” and “them”, it is all “we” now. The concept of having two types of countries; the “west” and the “developing world” is past, such was the case 50 years ago, but not today. This is what is fundamentally driving our Shared Value movement. We are all on the same team now and if we act like it, we can solve the seemingly unsolvable.
There is no industry more in need of a shared value approach then Health Care. The Health Care business community has been trying to address the same problems for decades with minimal results and colossal costs. However, if we merge, blend and join together the enormous amounts of brilliant discoveries, ideas, and solutions we can finally make some meaningful changes. Key to our success is accurate context of our current environment; Hans Rosling’s discovery is a powerful illustration of how false beliefs can distort global strategies. We need to further explore the Joy of Stats to modernize our perspectives. Without this, our Shared Value movement is at great risk of misfiring.
As I reflect on problems large and small with a cross-fertilized approach, leveraging the genius of the principles of the Shared Value movement and Motivational Design in context of a fact based world view that everyone understands, the clarity is extraordinary.