Collaboration with Competitors: Organisational Destruction or Evolution?

Collaboration between competitors has been in fashion for quite some time. Back at the end of the 1980s, General Motors and Toyota assemble automobiles, Siemens and Philips develop semiconductors, Canon supplies photocopiers to Kodak, France’s Thomson and Japan’s JVC manufacture videocassette recorders. But the spread of what we call “competitive collaboration”—joint ventures, outsourcing agreements, product licensings, cooperative research—has triggered unease about the long-term consequences. A strategic alliance can strengthen both companies against outsiders even as it weakens one partner vis-à-vis the other. In particular, alliances between Asian companies and Western rivals seem to work against the Western partner. Cooperation becomes a low-cost route for new competitors to gain technology and market access. ICL, the British computer company, could not have developed its current generation of mainframes without Fujitsu. Motorola needs Toshiba’s distribution capacity to break into the Japanese semiconductor market. Time is another critical factor. Alliances can provide shortcuts for Western companies racing to improve their production efficiency and quality control. Yet the case for collaboration is stronger than ever. It takes so much money to develop new products and to penetrate new markets that few companies can go it alone in every situation. The risks of collaborating with rivals might seem daunting, but a study
by the Multidisciplinary Digital Publishing Institute finds the benefits are likely to outweigh any disadvantages. The study found that this kind of collaborative competition, when it lasted from three to five years, had more than a 50% chance of mutually reducing company costs.

“Nowadays, the best partner might be your direct competitor,” says Paavo Ritala, a professor of Strategy and Innovation at LUT University of Technology in Finland. “Competitors tend to face similar markets and use similar resources and technologies. They typically have to deal with similar challenges at large. Thus, with rising costs of R&D and globalizing competition, it often makes sense to collaborate with competitors on product development, innovation and joint manufacturing.”  Another example is, YouTube and Vimeo have a similar relationship. During an innovation panel at the 2019 ForbesWomen Summit, Vimeo CEO Anjali Sud shared that the video platform joined forces with YouTube, one of its main competitors by allowing creators to publish their videos to YouTube, as well as to other video platforms.

The term “coopetition” whilst explaining a relatively contemporary idea, has been coined back in 1996 by Yale School of Management professor Barry Nalebuff and NYU Stern School of Business professor Adam M. Brandenburger when they noticed an increasing number of these kinds of partnerships among rivals, especially in the digital space, and set out to research the theory that turned into their book “Co-Opetition”.

The Role of Sales Enablement Technology

Collaboration serves to leverage the internal pool of talent, knowledge, and experience but also improves internal communication and empowers employees. The result is a boost in productivity, efficiency, and effectiveness, driving results. Technology empowers today’s workforces by connecting more employees than ever before. A sales enablement tool such as Seismic improves marketing and sales collaboration and communication by using real-time data from best practices and peers to determine what content is most effective at progressing deals and generating the highest ROI and then surfacing recommended content based on the Salesforce record and provide recommended sales collateral within their currently workflow.

For example, Seismic can integrate wherever your sellers work such as the CRM email and Slack. This allows sales reps to deliver the right message at the right time and allows them to remain focused on sales objectives, rather than on how to out-perform their peers.

How to Build Secure Defenses

For collaboration to succeed, each partner must contribute something distinctive: basic research, product development skills, manufacturing capacity, access to distribution. The challenge is to share enough skills to create advantage vis-à-vis companies outside the alliance while preventing a wholesale transfer of core skills to the partner. This is a very thin line to walk. Companies must carefully select what skills and technologies they pass to their partners. They must develop safeguards against unintended, informal transfers of information. The goal is to limit the transparency of their operations.

Western companies face an inherent disadvantage because their skills are generally more vulnerable to transfer. The magnet that attracts so many companies to alliances with Asian competitors is their manufacturing excellence—a competence that is less transferable than most. Just-in-time inventory systems and quality circles can be imitated, but this is like pulling a few threads out of an oriental carpet. Manufacturing excellence is a complex web of employee training, integration with suppliers, statistical process controls, employee involvement, value engineering, and design for manufacture. It is difficult to extract such a subtle competence in any sort of way.

So companies must take steps to limit transparency. One approach is to limit the scope of the formal agreement. It might cover a single technology rather than an entire range of technologies; part of a product line rather than the entire line; distribution in a limited number of markets or for a limited period of time. Moreover, agreements should establish specific performance requirements. Motorola, for example, takes an incremental, incentive-based approach to technology transfer in its venture with Toshiba. The agreement calls for Motorola to release its microprocessor technology incrementally as Toshiba delivers on its promise to increase Motorola’s penetration in the Japanese semiconductor market. The greater Motorola’s market share, the greater Toshiba’s access to Motorola’s technology.  

Enhance the Capacity to Learn

Whether collaboration leads to competitive surrender or revitalization depends foremost on what employees believe the purpose of the alliance to be. It is self-evident: to learn, one must want to learn. Western companies won’t realize the full benefits of competitive collaboration until they overcome an arrogance borne of decades of leadership. In short, Western companies must be more receptive. Learning begins at the top. Senior management must be committed to enhancing their companies’ skills as well as to avoiding financial risk. But most learning takes place at the lower levels of an alliance. Operating employees not only represent the front lines in an effective defense but also play a vital role in acquiring knowledge. They must be well briefed on the partner’s strengths and weaknesses and understand how acquiring particular skills will bolster their company’s competitive position.

Competitive benchmarking is a tradition in most of the Japanese companies we studied. It requires many of the same skills associated with competitor analysis: systematically calibrating performance against external targets; learning to use rough estimates to determine where a competitor (or partner) is better, faster, or cheaper; translating those estimates into new internal targets; and recalibrating to establish the rate of improvement in a competitor’s performance. The great advantage of competitive collaboration is that proximity makes benchmarking easier.

Competitive collaboration also provides a way of getting close enough to rivals to predict how they will behave when the alliance unravels or runs its course. How does the partner respond to price changes? How does it measure and reward executives? How does it prepare to launch a new product? By revealing a competitor’s management orthodoxies, collaboration can increase the chances of success in future head-to-head battles.

Knowledge acquired from a competitor-partner is only valuable after it is diffused through the organisation. Several companies we studied had established internal clearinghouses to collect and disseminate information. The collaborations manager at one Japanese company regularly made the rounds of all employees involved in alliances. He identified what information had been collected by whom and then passed it on to appropriate departments. Another company held regular meetings where employees shared new knowledge and determined who was best positioned to acquire additional information.

Given our current situation knowing that your colleagues or employees are best suited for this new scenario we find ourselves in. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It is now important to find out whether your managers or your team is well-equipped of working together from various locations. It requires deep knowledge of their personalities, strengths, weaknesses, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you discover if your people are resilient during times of hardship, if they are autonomous, if they are team players, without actual human contact. Given that our platform is cloud-based, everyone can use it from home as well. Humanity finds itself at a crossroad for various reasons now, why not help people discover and develop themselves from the comfort of their own homes?

Request a free demo:

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Sources:

https://hbr.org/2021/01/when-should-you-collaborate-with-the-competition
https://foundr.com/competitive-collaboration-boost-brand#:~:text=By%20embracing%20competitive%20collaboration%2C%20you,be%20on%20the%20losing%20side.
https://seismic.com/company/blog/competition-vs-collaboration-what-drives-high-performing-sales/

Essential Routines for a Productive & Less Stressful 2021

When we were sent home last March, we patched together work habits to survive the new world of work and life. You endured and made it to 2021.

Now, as the new year unfolds, it’s time to level up and replace survival work processes, with practices that support and enable your productive side, performance, and peace of mind.

Here are the three essential routines you need to make the months ahead more productive and less stressful.

IDENTIFY YOUR ENERGY BOOST MOMENT

When the commute to your “office” is a few minutes from your bedroom to your sofa or kitchen table and the days of pandemic life merge together, it’s imperative to identify your energy boost moment so you can get an early win to ignite your energy and motivation for the day. Here are four ways you can jump-start your day.

Compete to beat your own time. Time yourself on a routine task. For example, how long does it take you to make breakfast? Read and respond to 12 emails? Or prepare the weekly report? Turn these routine tasks into a competition with yourself and see how fast you can go. You will be surprised at how much you can accomplish and how motivated you are to take on the day.

Organise and empower your perfectionism. Straighten up your workspace, file emails, or alphabetize your spices. Then stand back, admire your work, and tell yourself you did a great job. Now move on to the first task on your task list with confidence and vigor.

Dress in clothes that make you feel professional and productive. Before you skip over this potential energy boost moment, know that there is a scientific theory called “enclothed cognition” that supports the effect that clothes have on how we feel and act. According to Dr. Nina Vasan, a psychiatrist and clinical assistant professor at Stanford University School of Medicine, “Clothing shapes your mental state and productivity. When you are stuck at home all day, what you wear can set the tone for what you are doing.” Dig into the back of your closet and pull out your favorite jacket, dress, or shirt. Put it on and use it to get your mind ready to work.

Move your body. You’ve heard it before, however, exercise does work to elevate your energy level. In a University of Georgia randomized controlled trial, researchers split people into three groups” low-intensity, moderate-intensity, and a control group (no exercise). During the six-week experiment, both exercise groups reported growing levels of energy compared to the control group. And, the good news, the low-intensity group reported less fatigue than the moderate-intensity group. Start your day with jumping jacks, a walk, or a few yoga poses, and get your blood and energy flowing.

ACHIEVE A 5 S.T.A.R. DAY

Targeted, intentional planning is how you achieve your goals and reduce stress. When you plan your upcoming work week, follow the four-step S.T.A.R. process.

S – Strategic: Review your strategic goals for the month.

T – Tasks: Identify the tasks that support the accomplishment of your strategic objectives. These are the discrete next action steps you need to perform to achieve your goals. Clarity is essential. Focus on the “must-dos,” not the “nice to-dos.” All action steps need to start with an action verb, for example, submit, call, or email.

A – Allocate: Allocate time on your calendar to complete your tasks. Is there time available on your calendar to complete the tasks required to achieve your goals? If not, look for opportunities to create time capacity. Can you decline a meeting where you are not required to provide information, represent a constituency, or be a decision-maker? Can you shorten a meeting or look for an alternative way to accomplish the meeting’s objective? Can you renegotiate a deadline to create capacity this week?

Now, you are ready to organise your calendar to achieve your goals. You have three options: block your days in either small, precise increments of time, block your days in larger time increments or create theme days. To create theme days, you organize your days around a theme, category, or type of work. For example, administration, team development, sales, prospecting, or writing. Review your tasks and the core accountabilities of your job to determine your theme days. Once you have identified your themes, select a theme or themes for each day of the week. Note the theme for that day on your calendar, and complete tasks and projects aligned to that theme.

R – Results: Commit to your results. When you are asked to attend a meeting without an agenda or join a call to “catch-up,” remember that every time you say yes to a request, you are saying no to something else. Honour you and your time. Intentionally say “yes” and “no” to requests for your time.

CELEBRATE YOUR ACCOMPLISHMENTS AND SUCCESSES

In a remote work environment, it’s difficult to receive the affirmation and praise you readily heard in your office. Gone are the days of a “thank-you” in the break room from your colleague or the “great job on the presentation” from your boss as you walk past their office. It’s up to you to acknowledge and celebrate your accomplishments and successes. At the end of the work week assess how productive you were and how well you aligned with your strategic goals, or count your check marks on your task list, or reflect on any positive feedback you received via email or on a Zoom call. We all want and need to be seen and valued. Recognise how you have added value to your team, company, and customers.

It’s a new year. Use the start of the year as an opportunity to create new routines that will energise you, which will make you more productive, and remove stress from your workday.

Given our current situation knowing that your colleagues or employees are best suited for this new scenario we find ourselves in. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It is now important to find out whether your managers or your team is well-equipped of working together from various locations. It requires deep knowledge of their personalities, strengths, weaknesses, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you discover if your people are resilient during times of hardship, if they are autonomous, if they are team players, without actual human contact. Given that our platform is cloud-based, everyone can use it from home as well. Humanity finds itself at a crossroad for various reasons now, why not help people discover and develop themselves from the comfort of their own homes?

Request a free demo:

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Sources:

http://www.elivingtoday.com/lifestyle/item/1154-4-tips-for-a-productive-2021
https://www.fitnancials.com/productivity-tips/
https://www.charteredaccountants.ie/Accountancy-Ireland/Home/AI-Articles/learn-from-2020-for-a-productive-2021

Delegation Is An Art: How Should It Be Done?

Delegation is a good idea but often falls flat in practice. Despite hiring bright minds and able hands, managers often find themselves overburdened and overloaded with tasks. Best practices tell individuals to focus on the highest priorities and delegate tasks to others, especially if it offers the opportunity for growth and development of your team. While this idea is great in theory, many people run into trouble.

A one-size-fits-all approach to delegation represents a strategy doomed to defeat. You could identify an item to delegate and then rely on the direct reports to figure out how to execute it or to speak up with questions if needed to. Unfortunately, not every item or even every employee is suited to this process, and problems can reveal themselves hours or minutes before a deadline. Here are four common reasons why delegation fails and what to do about them.

Lack of Critical Thinking

While many of us want to be considered smart, focusing on how others see you can be problematic when overplayed. If you jump in too early and too often with insights, your peers and direct reports will never have an opportunity to develop their own expertise. Confidence also takes a beating when people enter a meeting knowing they will leave feeling less than their manager. And while your insights may be helpful, they’re often offered only after a team has invested weeks of work preparing a presentation. It’s also dangerous to have only one person doing most of the critical thinking in an organisation; you could be leaving your company vulnerable to blind spots.

To elevate your team’s capacity to think for themselves, embed the practice of coaching early in the process. Instead of providing answers, ask questions. The quality of their insights will be directly proportional to the quality of your questions. For instance, by asking, “How would our chief competitor respond to this strategy?” Open-ended questions allow others to broaden their lens and consider new angles, rather than merely data-gathering queries. Instead of having to supply the solution, you activate others’ critical thinking skills.

Lack of Initiative

Sometimes employees lack the initiative to make bold moves or even follow up on smaller ones. They could agree to action items that they left incomplete or fail to communicate why they would miss a deadline. If you find yourself almost always initiating follow-up discussions then that is not delegating, that resembles micromanaging a lot more.

If your attempts at delegation are failing because you think others lack initiative or follow-through, address it tactically and strategically. Assign someone to jot down notes, action items, dates, and ownership before the end of each meeting, and start the next meeting following up on promises made. While this might sound basic, nearly half of the executive teams I work with lack appropriate hygiene in follow-through. More strategically, consider crafting a “placemat”— a one-page document (about the size of a placemat) that lists top priorities. A placemat signals what you plan to reward and provides another way to increase employee motivation. By scrubbing sloppy execution and signalling what truly matters, you can shape up accountability and motivation.

Lack of Quality

Unleash your team’s ability to contribute quality. First, provide them with a list of common mistakes in a presentation and what you would like instead. For example, instead of wordsmithing the title of a slide so it’s shorter, direct your team to deliver slide titles that don’t overflow to a second line. You can even delegate drafting this list to your direct reports based on what they already know about your preferences. Second, instead of fixing the fault, point it out and request a repair. Annotate a document with comments, instead of redlining it with direct edits. This will take more time initially but save you time in the long run as your team learns what you’re looking for. This may also require earlier deadlines, so your direct reports aren’t submitting final products at the last minute — and that’s ok. By showing them where they can improve, you’ll find that you’ll have better quality presentations and more time in the future.

Lack of Speed

Almost every CEO I have worked with marches to the beat of “CEO time” — a time warp where they either think they can (or they do) complete tasks faster than others. This may be the case because the CEO is more experienced, is clear about what she wants up front, doesn’t have to spend time divining or iterating to tailor the task, and hasn’t taken into account the extra time spent by employees because they want to look professional in front of the boss.

The next time you have what you consider a “quick” task, ask your team member how long they think it will take. If there is a discrepancy, ask about their process and the reason for the estimate. If necessary, you can help shave off time but removing unnecessary frills or details. For example, they may not need to create a beautiful slide deck but simply write up two paragraphs. On the other hand, you will start to become better educated about what and how long it takes to complete a delegated task and adjust your expectations accordingly.

Managers often experience the push and pull of delegation. We push out the work, only to pull it back again when it fails to meet expectations. By diving deeper into the point of failure, we can better address the underlying causes of delegation failure and encourage our team to be more motivated and productive.

Given our current situation knowing that your colleagues or employees are best suited for this new scenario we find ourselves in. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It is now important to find out whether your managers or your team is well-equipped of working together from various locations. It requires deep knowledge of their personalities, strengths, weaknesses, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you discover if your people are resilient during times of hardship, if they are autonomous, if they are team players, without actual human contact. Given that our platform is cloud-based, everyone can use it from home as well. Humanity finds itself at a crossroad for various reasons now, why not help people discover and develop themselves from the comfort of their own homes?

Request a free demo:

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Sources:

https://www.meistertask.com/blog/delegate-tasks-effectively/
https://www.mindtools.com/pages/article/newLDR_98.htm
https://www.inc.com/jayson-demers/7-strategies-to-delegate-better-and-get-more-done.html

Aristotle’s Knowledge & How Leaders Can Apply It

Aristotle (384–322 B.C.E.) ranks among the greatest philosophers of all time. Judged solely in terms of his philosophical influence and knowledge, only Plato is his peer: Aristotle’s works shaped centuries of philosophy from Late Antiquity through the Renaissance, and even today continue to be studied with keen interest. A prodigious researcher and writer, Aristotle left a great body of work, perhaps numbering as many as two-hundred treatises, from which approximately thirty-one survive.

The obvious place to begin a consideration of epistêmê and technê in Aristotle’s writings is in Book VI of the Nicomachean Ethics. Here Aristotle makes a very clear distinction between the two intellectual virtues, a distinction which is not always observed elsewhere in his work. He begins with the rational soul (to te logon echon) which is divided into the calculating part (to logistikon) and the scientific part (to epistêmonikon). With the calculating part we consider (theôroumen) things which could be otherwise whereas with the scientific part we consider things which could not be otherwise. When he adds that calculation and deliberation are the same, he indicates why calculation is about what could be otherwise; no one deliberates about what cannot be otherwise. Things which could be otherwise are, for example, the contingencies of everyday life; things which could not be otherwise are, e.g., the necessary truths of mathematics. With this distinction between a reality which is unpredictable and a reality which is necessary, Aristotle has laid the foundation for the strong distinction between technê and epistêmê. Then the account turns to action (praxis), where we find the kind of thought that deals with what is capable of change. The efficient cause of actions is choice (prohairesis). The cause of choice is desire (orexis) and reasoning toward an end (logos ho heneka tinos). Thought (dianoia) by itself moves nothing, only thought that is practical (praktikê) and for the sake of an end.

The experience of the 2020 pandemic deals a powerful lesson: A crucial ability a leader should bring to the table is the capability to figure out what kind of thinking is needed to deal with a provided challenge. Bring the incorrect kind of thinking to an issue and you’ll be left fruitlessly evaluating scientific data when what’s desperately required is a values-informed judgment call.

Mistakes like this happen all the time, because different kinds of human effort need various kinds of understanding. He outlined distinct types of knowledge required to solve problems in 3 realms.

The reason that Aristotle bothered to detail these 3 types of understanding is that they require various styles of thinking– the people toiling in each of these worlds tend towards practices of mind that serve them well, and distinguish them from the others. Aristotle’s point was that, if you have a phronetic problem to solve, don’t send out an epistemic thinker.

Imagine you being a leader of a big business that has obstacles cropping up frequently in all three of these worlds. You also have epistemic difficulties; anything you approach as an optimization issue (like your marketing mix or your production scheduling) presumes there is one absolutely ideal answer out there. As a leader presiding over such a multifaceted company, it’s a big part of your job to make sure the right kinds of believing are being pushed into making those various kinds of decisions.

That’s all the more true for the largest management obstacles in the modern-day world, those that are scoped so broadly and are so complex that all these types of thinking are required by one problem, in one element or another. Imagine, for example, of a corporation dealing with a liquidity crisis. Its leaders need to marshal epistemic know-how to discover the optimal resolution of loan covenants, issuance constraints, and intricate monetary instruments– and the phronetic judgment of where short-term cuts will do least damage in the long run.

Coming back to the Covid-19 worldwide pandemic and the challenges it has actually presented to leaders at all levels– in worldwide firms, nationwide and city governments, and organizations big and little. To be sure, almost all of the world was blindsided by this catastrophe and early bad moves were inescapable, especially provided misinformation at the outset. Still, it has actually now been 10 months considering that patient zero. How can the destruction still be running so widespread– and have segued, untreated, from fatal illness to financial disaster?

Perhaps is that lots of leaders stumbled in the basic action of identifying the nature of the obstacle they dealt with and determining the various type of believing that needed to be offered on it at different points.

In the early weeks of 2020, Covid-19 presented itself as a scientific issue, securely in the epistemic world. It immediately raised the type of questions to which outright right answers can be found, offered enough data and processing power: What type of infection is it? Where did it come from? How does transmission of it occur? What are the attributes of the worst-affected people? What therapies do most to assist? Which instant framing of the problem caused leaders– and individuals they influence– to put huge weight on the assistance of epistemic thinkers: namely, researchers. (If one expression ought to go down in history as the mantra of 2020, it is “follow the science.”)

In the U.K., for example, this translated to making decisions based on a model produced by scientists at Imperial College. At the regular conferences of the Scientific Advisory Group for Emergencies there was one federal government authorities in participation, and early on, he tried to inject some useful and political factors to consider into the considerations.

However, the reality was that, while clinical discovery was an absolutely required element of the action, it wasn’t enough, since what was happening at the exact same time was an escalation of the situation as a social crisis. Extremely rapidly, requires occurred for hard thinking about compromises– the kind of political deliberation that considers numerous dimensions and is notified by different point of views (Aristotle’s phronetic thinking). As a result, leaders were sluggish to begin resolving these societal obstacles.
What should an excellent leader do in such a crisis? We think that the right method with the Covid-19 pandemic would have been to draw on all the appropriate, epistemic knowledge of epidemiologists, virologists, pathologists, pharmacologists, and more– however to guarantee that the scope of the issue was understood as broader than their focus. If leaders had from the outset framed the pandemic as a crisis that would demand the highest level of political and ethical judgment, and not just scientific data and discovery, then decision-makers at all levels would not have discovered themselves so paralyzed– concerning, for example, mask mandates, restrictions on big gatherings, organization closures and re-openings, and nursing house policies– when screening results shown so challenging to collect, assemble, and compare.

This are all very broad strokes, but certainly some leaders balanced completing top priorities and managed the catastrophes of 2020 better than others. The point of this article is not to point fingers but merely to utilise the extremely prominent example of Covid-19 to highlight an essential and under-appreciated duty of leadership.

Part of the task as a leader is to frame the issues you want individuals to use their energies to resolving. That framing starts with comprehending the nature of an issue, and interacting the method which it must be approached. Calling for everybody to weigh in with their viewpoints on a problem that is truly a matter of information analysis is a recipe for disaster. And insisting on “following the science” when the science can not take you almost far enough is a method to immobilize and annoy people beyond step.

This ability to measure a circumstance and the type of knowledge it calls for is a skill you can develop with purposeful practice, but the essential primary step is just to value that those various type of knowledge exist, which it’s your obligation to recognise which ones are required when. Aristotle’s efforts regardless of, a lot of leaders haven’t thought much about levels of understanding and what issues they can resolve.

Given our current situation knowing that your colleagues or employees are best suited for this new scenario we find ourselves in. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It is now important to find out whether your managers or your team is well-equipped of working together from various locations. It requires deep knowledge of their personalities, strengths, weaknesses, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you discover if your people are resilient during times of hardship, if they are autonomous, if they are team players, without actual human contact. Given that our platform is cloud-based, everyone can use it from home as well. Humanity finds itself at a crossroad for various reasons now, why not help people discover and develop themselves from the comfort of their own homes?

Request a free demo:

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Sources:

https://enewsplanet.com/leaders-required-to-utilize-aristotles-3-kinds-of-understanding/
https://plato.stanford.edu/entries/episteme-techne/#Aris
https://hbr.org/2020/10/leaders-need-to-harness-aristotles-3-types-of-knowledge

AI & People Represent the Future of Work

Too many business leaders still believe that AI is just another ‘plug and play’ incremental technological investment. In reality, gaining a competitive advantage through AI requires organisational transformation of the kind exemplified by companies leading in this era: Google, Haier, Apple, Zappos, and Siemens. These companies don’t just have better technology — they have transformed the way they do business so that human resources can be augmented with machine powers.

While no one knows what artificial intelligence’s effect on work will be, we can all agree on one thing: it’s disruptive. So far, many have cast that disruption in a negative light and projected a future in which robots take jobs from human workers. That’s one way to look at it. Another is that automation may create more jobs than it displaces. By offering new tools for entrepreneurs, it may also create new lines of business that we can’t imagine now.

A recent study from Redwood Software and Sapio Research underscores this view. Participants in the 2017 study said they believe that 60 percent of businesses can be automated in the next five years. On the other hand, Gartner predicts that by 2020 AI will produce more jobs than it displaces. Dennis Mortensen, CEO and founder of x.ai, maker of AI-based virtual assistant Amy, agreed. “I look at our firm and two-thirds of the jobs here didn’t exist a few years ago,” said Mortensen.

In addition to creating new jobs, AI will also help people do their jobs better — a lot better. At the World Economic Forum in Davos, Paul Daugherty, Accenture’s Chief Technology and Innovation Officer summed this idea up as, “Human plus machine equals superpowers.” For many reasons, the optimistic view is likely the more realistic one. But AI’s ability to transform work is far from preordained. In 2018, workers are not being adequately prepared for their futures. The algorithms and data that underlie AI are also flawed and don’t reflect the diverse society it’s meant to serve.

How AI Could Grow Jobs: Inventing New Ones, Empowering Existing Ones

While AI will certainly displace some jobs, such displacement has occurred long before AI was on the scene. In the past century, we’ve seen the demise or diminishment of titles like travel agent, switchboard operator, milkman, elevator operator and bowling alley pinsetter. Meanwhile, new titles like app developer, social media director, and data scientist have emerged.

Daugherty and Jim Wilson, managing director of Information Technology and Business Research at Accenture Research have co-authored a book titled Human + Machine: Reimagining Work in the Age of AI. In their view, future (and current) jobs include trainers and explainers. Trainers will teach AI systems how to perform and mimic human behaviours.

Empowering Workers, Businesses and Industries

Rather than replacing workers, AI can be a tool to help employees work better. A call center employee, for instance, can get instant intelligence about what the caller needs and do their work faster and better. That goes for businesses and industry too. In another example, in life sciences, Accenture is using deep learning and neural networks to help companies to bring treatments to market faster.

In addition to helping existing businesses, AI can create new ones. Such new business include digital-based elder care, AI-based agriculture and AI-based monitoring of sales calls. Finally, automation can be used to fill currently unfilled jobs. As Daugherty noted recently, there is a shortage of 150,000 truck drivers in the U.S. right now. “We need automation to improve the productivity of the drivers, the lifestyle of the drivers to attract more people to the industry,” he said.

The Value of Human and Machine Working Together

AI technology can boost business productivity by up to 40 per cent, according to Accenture. But while business leaders may rejoice at that fact, 72 per cent of employees fear AI stealing their jobs, Pew Research found.

However, the adoption of AI doesn’t mean a wipeout of work available to humans. While some tasks may be trusted completely to AI, like the algorithms that drive recommendation engines on platforms like Netflix, Amazon, and Spotify, others are reserved for human skill only.

For instance, because AI cannot offer empathy or emotion, traits native only to humans, it likely won’t have an applicable role in practice areas like psychotherapy, social work or in-depth customer service.

There’s also a third category of work: the kind best done by humans and AI working in tandem. In the case of many tasks, AI can help get progress started, but it still requires a human to complete the job by verifying the accuracy or providing more context. These gray areas include services like accuracy checks and human interaction.

While AI may not complete such tasks perfectly on its own, there is still value in keeping AI a part of the process. The ideal AI-human arrangement is one in which AI technology drives the lower-level, repetitive processes associated with completing a task, while human oversight ensures the timely and accurate completion of that task.

AI-Human Teams in Action

So where can we see this tag-team dynamic in action? The voice transcription space serves as one example.

Quick and accurate voice-to-text technology plays an important role in the deaf and hard of hearing community, as well as the higher education and legal industries. AI can transcribe human speech much faster than humans can—in a controlled environment, that is.

But the everyday need for voice transcription doesn’t always come in the form of a controlled environment. AI only hits peak accuracy when the speech mimics the kind it was trained on. We can’t rely on AI alone to transcribe voice perfectly when the accent, speed, diction, and tone of the speech vary, or if background noise is present.

However, it’s most efficient to give AI the first crack at it and employ the help of humans to verify accuracy and fix errors if needed. Taking this approach has enabled faster access to high-quality voice transcription than ever before.

Teams that rely on fast voice transcription are reaping the benefits of humans and AI perfecting the practice. Courts, for example, face a court reporter shortage, with an estimated 70 per cent of the workforce expected to retire over the next 10 years. AI and human-powered voice transcription will help fill in the gaps.

Students — whether deaf, hearing-impaired or with no hearing issues — all benefit from timely access to the transcriptions of course lectures. Deaf and hearing-impaired students deserve the chance to keep up with their hearing classmates, and not all hearing students learn best by listening.

While AI has earned its place it every industry, it doesn’t always perform best on its own. Enlisting the help of humans brings it to its full potential and allows us all to take full advantage of a powerful technology, making a true difference in end-users’ lives.

Given our current situation knowing that your colleagues or employees are best suited for this new scenario we find ourselves in. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It is now important to find out whether your managers or your team is well-equipped of working together from various locations. It requires deep knowledge of their personalities, strengths, weaknesses, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you discover if your people are resilient during times of hardship, if they are autonomous, if they are team players, without actual human contact. Given that our platform is cloud-based, everyone can use it from home as well. Humanity finds itself at a crossroad for various reasons now, why not help people discover and develop themselves from the comfort of their own homes?

Request a free demo:

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Sources:

https://www.entrepreneur.com/article/329099
https://www.wired.com/wiredinsider/2018/04/ai-future-work/
https://hbr.org/2020/08/the-secret-to-ai-is-people

Should Entrepreneurship Be Taught in Schools?

Our education system is responsible for preparing young people to build successful lives. They should be ready for the wide range of possibilities ahead of them, including working for others, entrepreneurship, and contributing to their communities. All of these options require a depth of knowledge in their chosen discipline, as well as creative problem-solving skills, leadership abilities, experience working on effective teams, and adaptability in an ever-changing environment. It’s no coincidence that these are the same capabilities that employers say they want in college graduates.

These skills are the cornerstones of entrepreneurship education, which explicitly prepares students to identify and address challenges and opportunities. Therefore, along with teaching traditional subjects, such as science, grammar, and history, that provide foundational knowledge, it’s imperative that we teach students to be entrepreneurial.

Entrepreneurship education prepares students to identify and address challenges and opportunities. There are many who believe that entrepreneurship is an inborn trait that can’t be taught. This is simply not true. As with all skills, from math to music, learning to be entrepreneurial builds upon inborn traits. For example, learning to read and write taps in a baby’s natural ability to babble. Each baby learns to harness those noises to form words, connect words to compose sentences, and combine sentences to craft stories.

Entrepreneurship can be taught using a similar scaffolding of skills, building upon our natural ability to imagine:

  • Imagination is envisioning things that don’t exist.
  • Creativity is applying imagination to address a challenge.
  • Innovation is applying creativity to generate unique solutions.
  • Entrepreneurship is applying innovations, scaling the ideas by inspiring others’ imagination.

Using this framework, educators at all levels can help young people engage with the world around them and envision what might be different; experiment with creative solutions to the problems they encounter; hone their ability to reframe problems in order to come up with unique ideas; and then work persistently to scale their ideas by inspiring others to support their effort.

Also, if there is no space to allot entrepreneurship as a separate paper, then it can be merged with subjects like economics, history, technical n, comparative studies, business education or psychology. Integrating entrepreneurship in these main stream subjects will allow students to understand the same and take up later in life.

Learning entrepreneurship from school level will allow students also instil the following traits at a young stage:

Patience

Business is not a one-day phenomenon. It happens over time, grows over decades or more. The entrepreneur needs to hold on their patience and be with the business all throughout. Learning entrepreneurship from school, will allow one to get accustomed to the long time span that one requires to invest to establish a business.

Flexibility & Adaptability

Running business is not a smooth flow of events. It has good times, bad phases and so on. How to survive at the best and worst of business can also be learnt from an early stage, if entrepreneurship is introduced in school.

Desire to Achieve

As school is too nascent a stage, students might change their decision of being an entrepreneur and opt for some other profession. But, it’s the ‘hunger to achieve’, the take away from entrepreneurial classes that will help them earn success in any other profession. 

Entrepreneurship education does not just benefit those entering the fields of science, technology, and business. Students of art, music, and humanities can develop their imagination and learn how to apply creative thinking skills to real-world problems.

Given our current situation knowing that your colleagues or employees are best suited for this new scenario we find ourselves in. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It is now important to find out whether your managers or your team is well-equipped of working together from various locations. It requires deep knowledge of their personalities, strengths, weaknesses, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you discover if your people are resilient during times of hardship, if they are autonomous, if they are team players, without actual human contact. Given that our platform is cloud-based, everyone can use it from home as well. Humanity finds itself at a crossroad for various reasons now, why not help people discover and develop themselves from the comfort of their own homes?

Request a free demo:

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Sources:

https://www.entrepreneur.com/article/287310
https://www.marlborough.org/news/~board/stem/post/five-benefits-of-entrepreneurship-education-to-students
https://www.aspeninstitute.org/blog-posts/schools-teach-entrepreneurship/

How to Deliver Bad News to Your Team

It’s every leader’s or manager’s least favourite task: delivering bad news. Maybe your company is closing one of the offices, or letting some people go. Or you have an employee who isn’t getting the promotion he or she wants, or can’t take an expensive training course.

In any case, your first impulse may be to soften the blow. After all, you’re a caring person, and you’d like to make a difficult situation easier. Generally, you start the conversation by talking about something else. And when it’s time to deliver the news, you try to sugarcoat it.

Few people like to deliver bad news. But the ability to do so with grace and compassion is an essential skill for any leader or manager. 

That’s a key tool of a leader who knows how to lead well. When a leader creates and maintains momentum by their ideas, their ingenuity, and their actions, the rest of their team falls naturally into their rhythm. And that’s when the great work is accomplished.

We’ve all had that moment on an airplane where we experience turbulence. Maybe you are rudely awakened by a sudden jolt, or you get up to use the restroom and have to hold onto the back of someone’s seat. Within a few seconds, the pilot’s voice comes over the intercom. What are you listening for? You are listening for reassurance through the uncertainty of turbulence.  

With countless concerns over Covid-19 around the world, it’s not just the airline industry that is experiencing a sudden wobble on its normal journey. Many business leaders are asking how they can communicate uncertainty both internally to their teams and externally to their clients — whether it’s about participating in an upcoming conference or delivering on an already signed project. Communicating in the face of uncertainty is a constant leadership challenge.

But in any business, there are times when you are on cloud nine and times when you’re down in the dark. What does a leader have to do when bad news has to be shared?

1. Know his audience  

In public speaking, knowing your audience in advance is critical. In times of uncertainty, it’s quintessential, regardless through what channel of communication. Do a thorough strategic analysis of who you are communicating to. What are their concerns, questions, or interests? What do they need an immediate answer to? You might use language such as, “I know many of you may be thinking…” The quicker you can address what’s on their mind, the quicker you will be able to calm them down. If you are not addressing their most pressing interests, they might not even be listening to you.

2. Thorough Research

In times of hardship and stress, it is easier to fall prey to misinformation, which can be especially destructive. Seek out credible sources of information, and read the information fully before distilling it into clear, concise language. Share those links with others, so that they too have a credible resource.

3. Set up specific ‘next steps’

In times of uncertainty, it’s helpful to provide your team with tangible action items. Discussing your own next steps or recommending next steps to your audience gives them a sense of control so they feel like they are contributing to stabilisation. Use language such as, “Here are the steps we are taking” or “Here’s what you can do” to demonstrate action.

Communicating through uncertainty is an essential leadership skill, regardless of whether or not you have a formal leadership role. In fact, the ability to communicate through uncertainty is part of what demonstrates to others your leadership readiness. Use the aforementioned steps to first find your own sense of focus and then allow yourself to transmit that reassurance to others.

4. Speak honestly

You can speak with confidence even without 100% certainty. You can confidently express doubt or uncertainty, while still sounding like you are in control of the situation. You might say, “Reports are still coming in, but what we understand so far is this…” Communicate frequently with your audience, even without news to report, so that they know you are actively following the issue. A fantastic communication expert, Nancy Duarte, wrote an insightful article on this topic several years ago and stated: “People will be more willing to forgive your in-progress ideas if they feel like they’re part of the process.”

You can’t make bad news less painful, but you can deliver it in the most respectful way possible.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:
https://www.forbes.com/sites/williamvanderbloemen/2016/11/17/how-to-effectively-break-bad-news-to-your-team/#3a6f1cb468b7
https://www.inc.com/alison-davis/need-to-deliver-bad-news-to-employees-science-says-do-this.html
https://www.psychologytoday.com/us/blog/adaptation/201803/how-deliver-bad-news-pro

Overcoming Negativity in the Workplace

Negativity takes a toll on many aspects of the workplace. It affects everything from engagement to productivity, and even affects employee retention. No one likes to work in a toxic work environment, period. Combating negativity is not an insurmountable challenge; you just have to go about it in a strategic manner. The days of gathering around the water cooler have moved online, adding another challenge as people can hide behind screens and think less about the impact of their words and actions.

Workplace negativity disrupts productivity. It creates a place where employees dread coming to work, and employees who harbour negative attitudes about work can be toxic workers with performance issues. Employees who continually express negative opinions about the company and their co-workers may need strict counselling to modify their behaviour and attitudes. Attention to employee dissatisfaction is a sure way to overcome negativity in the workplace, however. Giving employees the opportunity to express their feelings about the workplace and helping them resolve issues that cause negativity are effective management methods.

How is it that just one discordant colleague, a single voice of negativity in a business unit or project team that is upbeat and enthusiastic, can cast such a long shadow on group morale? How does one bad apple always seem to spoil the whole bunch?

The power of bad also explains why it is so hard to sustain innovation over the long term, even when things are going well. It turns out that the impact on morale of even a small setback — a project that goes over budget, a product that does not deliver particularly well — can overwhelm all the successes that surround it. In order to overcome a setback, it usually needs 4 good things to happen.

Researchers have documented the positive impact of “social support” — friends, colleagues, neighbours who pump you up and cheer you on. Researchers have also documented the negative impact of “social undermining” — people who gossip, carry grudges, and otherwise bring you down. Not surprisingly, “Social undermining was found to have a bigger impact than social support.” So leaders with great ideas and good intentions won’t stand a chance of succeeding unless they are going to remove the bad apples within their department or organisation.

No Criticism, but Education

Too often our reaction to seeing or experiencing a negative or unfavourable behaviour is to do one of two things – ignore it or complain about it. These are natural reactions, yet they’re decidedly counterproductive. To make an impact and enact change, you have to take action and educate people. Call out negative actions when you see them, but remember that criticism isn’t taking action. You need to educate people on how they transform negative behaviours in a positive way.

Many negative behaviours are unintentional and go unnoticed by the individual. Frequent interrupters often don’t realize how disruptive they are. People making insensitive comments might think they’re being funny. Let them know how their behaviour is resulting in a negative impact. Show them the direct consequences of their actions and help them change. In the same line, be aware of your own behaviours and model positive actions whenever possible.

Speak Up

Take a stand against negativity and make your voice heard. You can’t create change by staying silent. Have conversations that address any negative behaviors you witness. Question why we’re allowing those negative behaviors to happen in the first place. Just because a negative action has been allowed or people have looked the other way in the past doesn’t mean it has to be that way forever. Have the difficult conversations. Stand up for what you believe in and push for change.

Don’t Address the Problem On your own

If you observe negative behaviour, chances are you aren’t the only one witnessing it. Find others who are willing to speak up. One voice makes a ripple, a group of voices creates waves, and many voices produce a tsunami. Find as many people as you can – there’s strength in numbers. Use that power in numbers to drive change at a faster pace. The more people you can get to be on the lookout for negative behaviours, the quicker you’ll see the changes in the workplace.

Ultimately, the good news is that bad news doesn’t have to drag down your company or your team. But it does require all of us, as executives, entrepreneurs, and change agents, to infuse well-designed strategies with a healthy dose of psychology. In business, as in life, it’s hard to get to the good unless you overcome the power of bad.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:
https://smallbusiness.chron.com/overcome-negativity-workplace-11532.html
https://www.forbes.com/sites/ashiraprossack1/2018/07/24/how-to-overcome-negativity-in-the-workplace/#19a519f641fe
https://trainingindustry.com/articles/strategy-alignment-and-planning/5-ways-to-overcome-negativity-in-the-workplace/

Is Praise The Best Way To Motivate Employees?

It is fair to say that society has reached a point in which excessive praise is being offered to the rich and powerful. The upper tiers of our present society have been showered with awards, honours and superstar status. Billionaires and philanthropists alike are massively applauded for their work and charities which turn out to have very little impact on the world. The effects of this practice of praising excessively are worth taking into account and raise some concerns. By praising people, even though they deserve it can have a negative impact on how they behave.

Numerous psychological studies have been done on this subject and they have demonstrated that people are highly responsive to moral compensation. In layman terms, this means that when people feel they have acted well, they also feel that it gives them permission to engage in negative behaviours in the future. The reverse works the same way. If more and more studies come out and prove the accuracy of the aforementioned studies then humanity can practically see the social consequences of praise and/or blame. Too much praise could lead people to act badly, whilst blaming them when they make mistakes could lead to positive behaviour. So how many influential, wealthy and powerful people does the world need to harm society irreversibly?

Every organisation knows that culture without revenue is not feasible or sustainable. If a company wouldn’t be growing financially, there would be a complete shift in culture. It is important to have fun, but it’s never in first place. In order to get the best out of employees it is recommended to explain your expectations from them since day one. If employees understand the culture and how success is determined, they will be off to a flying start.

However, giving feedback remains one of the most difficult things a manager has to do. In a survey which amounted 7,631 people, 44% of them agreed that giving their employees negative reviews is difficult and stressful. Some quotes from the managers interviewed have surfaced the negative impact it has on them: “I just wanted to get it over quickly”, “They don’t pay me enough to do this”, “I did not sleep the night before” and “My hands were sweating and I was nervous”. Given the anxiety managers are facing when they have to offer negative feedback, 21% admitted that they avoid giving the negative feedback altogether.

In a comparative study 328 managers’ self-assessments were correlated with results from 360-degree feedback surveys. Each leader was rated by an average of 13 respondents on a variety of behaviours, including “Gives honest feedback in a helpful way.” The ones who rated that thought a person was effective in giving feedback were most influenced by the leader’s comfort and willingness to give positive reinforcement. Whether the manager gave negative feedback did not make a big difference — unless the leader avoided giving positive feedback. This was also true when we looked only at the ratings of direct reports.

When the study looked into the managers’ self-assessments, however, there was a totally changed point of view. There was a strong correlation between people who believe they give “honest, straightforward” feedback and those who give negative feedback, regardless of whether they also give positive feedback.

Leaders obviously carry some incorrect beliefs about the value and benefits of different forms of feedback. They vastly underestimate the power and necessity of positive reinforcement. However, in reverse, they greatly overestimate the value and benefit of negative or corrective feedback. In all, they misjudge the impact negative feedback has on how they are perceived by their colleagues, bosses, and direct reports. Giving only negative feedback diminishes a leader’s effectiveness in the eyes of others and does not have the effect they believe it has.

Perhaps in an effort to provide employees with what they believe is direct, honest feedback, managers who prefer giving negative feedback may come across as only looking for what’s wrong. Some employees have described this as, “Quick to criticise and slow to praise.” While the findings do not directly reveal why managers are so hesitant to give positive feedback, the study that involved the leaders suggests that there could be a variety of reasons. Perhaps it starts with the perception that the really good managers are the tough graders who are not afraid to tell people what’s wrong. Possibly they believe that giving people positive feedback will encourage a subordinate to let up or coast. Maybe they are emulating their prior bosses who gave little praise, but who pointed out any mistake or weakness. Some may believe it a sign of weakness to praise subordinates. Maybe they just don’t know how to effectively deliver appreciation or praise. Or maybe they intend to give kudos, but feel so busy that the days slip by and they never quite remember to send out that note of praise for a job well done.

In conclusion, the findings suggest that if you want to be seen as a good feedback-giver, you should proactively develop the skill of giving praise as well as criticism. Giving positive feedback shows your direct reports that you are in their corner, and that you want them to win and to succeed. Once people know you are their advocate, it should also make giving criticism less stressful and more effective.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:

https://www.inc.com/tom-gimbel/why-praising-your-staff-might-be-the-most-dangerous-thing-you-do-today.html

https://www.fastcompany.com/90394590/this-is-the-negative-effects-of-praise-that-youve-probably-never-thought-about

https://hbr.org/2017/05/why-do-so-many-managers-avoid-giving-praise

Are Universities Worth It All?

It is often discussed among employers and business leaders alike about the existing gap between what students learn at universities and what they are actually expected to know and handle in order to be ready to perform at a good level. This issue has become especially alarming given the fact that the numbers of people graduating — and it is still growing — from university: over 40% in countries that are part of Organisation for Economic Co-operation and Development, and close to 50% in the United States.

It has become clear that even though there higher education has become a more premium feature in today’s society a recent study done The Economist has unravelled that the return on investment (ROI) of a university degree has never been higher for graduates, thus it can be concluded that the value added from a university degree diminishes as the number of graduates continuously rises.

For example, in the area of sub-saharan Africa, where degrees are comparatively rare, a university degree will boost salaries by over 20%, which, by contrast, in the Nordic Countries earnings are boosted by only 9%, where 40% of adults have degrees. Furthermore, as more and more people obtain university qualifications they have become the norm and recruiters and employers will demand them more and more, disregarding the simple fact that they are required for a specific job. It can be concluded that even though degrees can lead to higher earnings, the same employers are damaging the graduates’ mindset and themselves by limiting the candidate strictly to university degree holders. In this modern age of technological advancements and such a constant flow of information, it is difficult to demonstrate that the acquisition of knowledge historically associated to a degree is still relevant in this day and age.

In the meantime, companies are becoming more observant to what they are required to offer in order to attract and retain their best employees, those employees who have a high potential in order to keep their companies competitive and with an extremely agile workforce.

There is a debate amongst people that universities prepare young people from a social point of view. Whilst university, people have the chance to learn how to deal with different types of people and personalities helping them develop in a more complex manner. This can happen due to a couple of reasons:

  • No more direct involvement from parents
  • Young people learn to adapt, they mature mentally, slowly becoming more independent and learn to take care of themselves.

However, the aforementioned arguments do not stand as firmly as one might think. Normally, people attend university from 18 to 22 or 23 years old. In those years, students start to mature naturally due to the simple fact that they are aging. Furthermore, people tend to learn a lot at work by engaging in various work-related activities. Nobody is denying the fact that young adults mature during their university years, but they could do so by being out into the real world, independent from university. Perhaps, the process of maturing would have been greatly accelerated.

It must be taken into account as well; the ever-rising costs of university fees and not everybody could have had access to a higher education, prior to just a few years ago. Nowadays, there are a lot of free online courses which are available to the general public which can level the playing field when it comes to getting a higher paying job. However, it must be taken into consideration that recruiters and employers alike have not started warming up to the idea of online-educated people being ready to enter the workforce.

Whichever way you wish to look at things, the university learning system is simply not scalable, it is not possible. Some universities have more financial resources to help educate their students; some universities have better professors who offer a very unique style of information and the absorption of it; plus there is the other end of the spectre where you have poorly financed universities and professors who have lost their motivation to teach, to educate the young and fairly impressionable minds they have in their class. This leads to digital learning, which, for better or worse, can be scaled to some extent. It is available to everyone; there are no hidden side notes or comments that can sway the mind to go in one direction or the other, so we have to ask ourselves, how we measure the purposefulness and route through which we obtain knowledge.

This is not to say that institutionalised education is fruitless. It does offer people the chance to expand their intellectual selves, develop new skills, and discover things, people or places otherwise hardly talked about.

Whether people like it or not, profits are the main concern of almost every business in the world. Capitalism, for all its benefits, has its flaws and this is one of them. Universities themselves have begun their hunt for profits and the interest of the student has become secondary. These institutions also view their graduates’ futures quite differently from what is happening today in the world. Universities are preparing students not so much for their jobs in their respective industries but more in the area of future drastic changes, changes that may happen decades from now. Due to this type of preparation it has caused a lot of disruption in today’s workforce, given the fact that graduates not only opt to change employers but also careers entirely.

Graduates nowadays have a tendency to seek options left and right, leading to a lot of movement in the job market either being from a larger to a smaller company or vice versa, non-profit and profit, completely different industries altogether. This current generation of young adults don’t even like the word ‘career’ because it simply implies commitment to just one path for the rest of their lives. There are a lot of things universities can be better at and, to be fair, introspection does not sound that dreadful.

There is a real value in providing companies with the tools to carry out regular organisational assessments and this is where Great People Inside comes to your aid. Our online platform offers the best solutions and tools for your company to thrive in every type of industry and any possible situation your organisation may find itself. In terms of lowering your employee turnover rates, we recommend our GR8 Full Spectrum assessment for hiring and 360° Survey for retention. Finding the right talent, the best fit for the job and your organisation can be a very challenging task. It requires deep knowledge of your own organisation’s culture and a keen understanding of the candidate’s personality, strengths, interests, work style and other characteristics. Our technology and solutions will do the work for you, helping you find employees who can flourish and reach the highest performance required to constantly bring your company forward.

Request a free demo:

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Sources:

https://www.chronicle.com/article/Colleges-Say-They-Prepare/244376

https://www.forbes.com/sites/quora/2017/09/09/does-college-prepare-students-for-the-real-world/#49c0cc3a42df

https://hbr.org/2019/01/does-higher-education-still-prepare-people-for-jobs