JimCarroll

Credit Suisse Bulletin: Success Comes to Those Who Evolve

January 30, 2008 by JimCarroll

Credit Suisse, headquartered in Zurich, is global financial powerhouse operating in 50 countries; 48,000+ employees, assets of $75 billion US, and net assets under management of $1.345 trillion.

They’ve just released their 2008 Bulletin magazine, a publication provided to key investment banking, private banking and asset management clients worldwide.

They’ve include a fairly lengthy Q&A with me, in an article titled Success Comes to Those Who Evolve, in which they wanted wide-ranging views on the word “growth.” It came out well: my key message has always been that we must always link the concept of innovation to rapidly emerging trends in order to constantly change what we do — often simply to keep up, or attain competitive advantage.

Here’s the key point: So what’s the recipe to kick-start innovative thinking? I think it’s about having your entire organization understand everybody is responsible for constantly figuring out how they need to change to keep up with the rapidly changing world. They need leadership that supports and encourages them to be open and share ideas, and that leadership needs to hammer home that message on a regular basis.“

Read: Success Comes to Those Who Evolve

Which way forward? An economic interview with Jim Carroll

January 29, 2008 by JimCarroll

Jim Carroll is frequently approached by global news organizations to comment on economic issues. He was recently interviewed by the CBC (Canadian Broadcasting Corporation) for his perspective on how the Canadian economy will be impacted by recent global events. This document summarizes key components of the interview.

The interview includes a variety of topics, including this one: How can an economic region discover opportunity? From Jim’s perspective, it’s through skills transformation. He recently keynoted a community economic development summit in an auto-industry dependent city. He comments about the challenges that exist in the manufacturing sector: and how some regions are turning challenge into opportunity.

You’ll also find a news report that ran in newspapers across Canada after this economic development conference; you’ll find some unique views on the types of careers that are emerging in the future.

Read: Which Way Forward: An Economic Interview with Jim Carroll
Read the news cover: “Knowledge Explosion Key to the Future”

The future of associations

January 28, 2008 by JimCarroll

A few years ago, I wrote regularly for The Boardroom, a publication for association executives, on how trends are impacting professional and other associations. I covered workplace issues — such as integrating Gen-Y into the workplace — as well as rapid career, knowledge and skills change. The articles still generate a lot of traffic as people find them through search engines; and continue to bear relevance today.

Why are associations finding things so challenging? According to a recent study out of the University of California (Berkeley,) we now produce as much new information every six months as was produced in the first 300,000 years of human existence. That type of rapid knowledge growth changes careers faster than ever before, and the associations who represent these career areas must relentlessly focus upon innovation within the areas of professional education, strategic direction and the nature of member services.

These articles were often reprinted in various state and national “associations of associations”, and still bear relevance today, so they might be worth a read.

Read the association executive articles
Details on Jim’s keynotes in the association sector

Innovating locally in a global economy

January 17, 2008 by JimCarroll

I spent the day yesterday with management executives and store owners of DoItBest, one of the largest US hardware retailers. It’s a fascinating organization, because in the midst of the current economic challenges in the US, it’s managed to grow its profit at the same time that it saw a dramatic revenue decline.

As with all the keynotes that I do, I undertook an extensive amount of research into the company and industry before I took to the stage; this is combined with the fact that I have keynoted dozens of retail oriented conferences through the years.

What I found was a really cool, and extremely innovative organization. Their online Web site has seen a sales increase of 60%; they’ve included an option where shoppers can have orders sent to their local DoItBest store (of which there are 4,000+). The site is price competitive with Target and Amazon. They are doing a lot in terms of supply-chain, online store portals and rebates. They’ve rolled out three different store designs, and are discovering new micro-markets. All this, while they’ve seen sales fall to $2.81 billion from $3 billion from the year before — and yet, they also achieved record profitability.

In my mind, there are a number of innovative strategies that the organization has pursued that any organization can learn from:

rapidly transition challenged product lines: lumber saw price declines of 25%, and panel prices dropped 60% according to an article in Home Channel News. Do It Best stores responded by focusing on all kinds of other lines in hardware and new market opportunities such as home-decord
be relentless on customer service: a search of news articles shows any number of articles in which customers rave about the knowledge that a staff member in a Do It Best store has when it comes to hardware, tools, home renovation and just about everything else. They’ve maintained a relentless focus on customer service, even as the big-box chains have lost site of its importance. If you need a power tool: these folks know power tools.
recognize that micro-branding works: the new store format design has three components: one for those fully within the DoItBest brand, one that is sort of halfway, and one for those stores that want to maintain a distinct, local, “general store” type of image. The fact is, in this era of homogenized big-box brands, some folks like the feeling they get from a small, local hardware store brand. “Do It Best owners understand the micro-economy” — that’s what Jeff Prupis, of Pomona Paint & Hardware, a Do It Best store in Pomona, NY, stated in another Home Channel News article.
when markets commoditize, specialize: at their trade show yesterday, they were featuring a “Christmas in January” theme; with various vendors showing the unique Christmas offerings they might be thinking about. Everywhere you look, you can see some of their stores learning about and experimenting with new premium markets and service opportunities.
make life easy for customers: We’re time compressed. We’re in a hurry. We need solutions. We want “fast.” That’s why the comment from Joe Talor, CEO, Taylor’s Do It Center, Virginia Beach, is so appropriate. “We’re like the 7-11 of the hardware industry. You can get in, get out, and get back home to enjoy your weekend.”

I was there to help take them to the next level, with a keynote theme, “Creating the Future: Leadership in An Era of Innovation and Change.” In the talk, I looked at additional ideas that they might pursue to stay on the leading edge.

All in all, a tremendous amount of fun, and a wonderful organization to spend some time with!

“Here we are now, entertain us” – Decoding Gen-Connect

January 7, 2008 by JimCarroll

One of my latest columns focuses on what will likely be the corporate issue of 2008 – managing generational challenges in the workplace.

In the column, “Here we are now, entertain us,” I take a look at the unique attitudes that Gen-Connect is now starting to bring into the workplace. There are several key observations from the article that are critical to understanding the future of the workforce:

What is clear is that we are witnessing the death of the idea of long-term career and corporate loyalty, which will soon be but a quaint memory from the previous century.
I often tell the story of a young engineering graduate who turned down a job with an architectural firm because its 9 a.m. to 5 p.m. work hours conflicted with the time he expected to be carving arcs into deep powder in the mountains. It’s a real attitude, and it’s already happening around us. The challenge, when such trends are so patently obvious, is trying to figure out what to do about it. And a good part of the solution will come through the transformation of rewards and remuneration.
Gen-connect has very little patience, particularly when it comes to being rewarded for good work or significant effort. These youngsters are used to instant rewards: their Xbox/Wii video-game-oriented world has them accomplishing a goal, moving up a level, and earning some points or other valuable form of currency that helps them accumulate additional armor, weapons, or whatever else is needed to accomplish the game’s next challenge.
That’s why, at a recent conference, I framed the issue of rewards transformation to an audience of financial professionals this way: “Organizations that can attract, engage, retain and amuse an increasingly complex workforce will be the ones who find success in the rapidly evolving global economy.”
Put the emphasis on the word amused. Today’s Gen Y doesn’t, and tomorrow’s Gen-connect certainly won’t, have any patience whatsoever for slow and steady career paths.

Related postings:

Article: Here We Are Now, Entertain Us.
Related article: Don’t Mess with My Powder, Dude!
Keynote topic: What’s Happening with Our Workforce: Achieving Competitive Advantage Through Skills Agility.
Critical Trends Analysis: 10 Unique Characteristics of 21st-Century Skills.

Nomadic Workforce	Rethinking Innovation	Marketing
Innovation Killers	Hot Times	Rapid Science
The Future of Small Business	Connectivity	Social Networking

JimCarroll

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THE FUTURE BELONGS TO THOSE WHO ARE FAST features the best of the insight from Jim Carroll’s blog, in which he covers issues related to creativity, innovation and future trends.

THE FUTURE BELONGS TO THOSE WHO ARE FAST features the best of the insight from Jim Carroll’s blog, in which he
covers issues related to creativity, innovation and future trends.