Manual The Truth About Networking: Strategic Business Networking, The Facts You Should Know

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I get it. I started my career as a business journalist when I was 21, and at events I was frequently mistaken for a PR assistant. It feels good to help someone who wants to follow in your footsteps. Remember that. It is extremely intimidating to be alone at an event where everyone is talking in little circles. For me, a quality conversation always beats quantity, and it sets you up to keep the dialogue going after the event. If you spoke about a certain topic or person that you know, ask for their email address so you can follow up with a relevant article or an introduction.

And then do it. Have a pressing career concern or question?

Email me anonymously at workitout cnbc. Submissions may be edited for length and clarity. Don't miss: What you can learn from Barack Obama's 4 rules for networking. Like this story? The value journey starts with the sales cycle, and it is here where the seeds of success or failure are first sown. Did you know that:. As enterprises move into the digital age, if we continue to do things the way we have been, the challenge will only increase:.

This is both a challenge and an opportunity for sales professionals. The figure below provides a model of Value Management, and illustrates that a value mindset and supporting structures, processes, roles, responsibilities, and metrics must be established as part of enterprise governance, and that value enablement is a very significant piece of the Value life-cycle — the bridge between selling value and actually realizing it.

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Unfortunately, it is the piece that has been largely ignored, or paid lip service to up till now. I attended a first meeting of the Council in Dallas in October. By the end of the day, my skepticism had disappeared. As a non-profit, the VSR Council depends upon the time contributions of its members. There is a cost to attend and capacity is limited so, if you or anyone else you may know are interested, you should register soon.

We will not do this with traditional siloed and fragmented disciplines and approaches. I hope that I have the opportunity in the months and years to come to meet and work with many of you in this community to achieve this goal. Is exploration being disrupted by digital, or does digital require exploration? The answer is yes to both.

Although the focus of this piece is on the latter, my thinking about it was triggered by the first. This was not for grinding trudges dragging dugout canoes through tropical areas, although that was to follow, but for his work in data visualization — translating unimaginable blurs of information into something we can see, understand, and feel—data made human through visualizations that blend research, art, software, science, and design.

Like the expeditions of old, they were pushing into the unknown, in search of measurements but, unlike previous expeditions, they used a set of open-source tools to develop a system that puts every piece of data collected onto the web, in near real-time, for anyone in the world to use and share. As I reflected on this expedition, and how it was positively disrupting exploration, I went back to thinking about how our use of technology has evolved and continues to evolve.

I started to question how I have been describing this evolution.

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While these were certainly complicated endeavours, and often required significant organizational change a requirement usually recognized too late and poorly managed , they were primarily about integrating information, and making it more accurate, accessible and timely. They did not essentially change what organizations did — they just did it differently and, hopefully, better.

It certainly involved major organizational change, but was hardly transformational. Indeed, across all organizations, public or private, large or small. One in which :. While, as proven and best practices emerge, the nature of systems may change, i. To move to a more agile and inclusive approach to governance, leadership and management. It will all be part of a new era of digital exploration and transformation. Does this mean that we have to throw out everything that has come before? No — but we do have to question everything?

That technology itself, how technology is delivered, how it is used, and by whom are changing at an ever-increasing rate. This cannot be abdicated to the IT function. This requires a maturity level of around 2. So, what does this mean for the CIO? Much has been written about CIOs themselves having to transform to fulfil the 3 leadership roles of the pyramid — running the factory, partnering with the business for value, and strategic transformational leadership.

There is no doubt that all these roles are required — but is it reasonable, or necessary to expect that they will be found in one individual. Even where an individual does have the ability to handle all 3 levels, the day-to-day operational demands all too often leave little time for the other 2 levels. If organizations are to succeed in the digital economy, they cannot constrain themselves to the knowledge of a few individuals — to put it a more brutal way, they cannot be constrained by the habits or ego s of their leader s!

Organisations must tap into the collective knowledge of all their people. We need effective governance that reaches out to and involves key stakeholders — retaining appropriate accountability, based on the law of subsidiarity — an organizing principle that matters ought to be handled by the smallest, lowest or least centralized competent authority. For organizations to survive and thrive in the digital economy, this is not an option! Running to pages, it describes what happened, identifies the root causes and draws out lessons.

This shortfall resulted in the Co-op Group ceding control of the bank to bondholders , including a number of U. The investment objectives of the IT-transformation programme were laudable; leapfrogging the competition and gaining an advantage, through improved customer relationship management and quicker delivery of new products.

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There were particularly severe problems with the functionality of the online business-banking platform. These weaknesses resulted in high running costs, upgrading to comply with new regulatory requirements eating up considerable resource, and significant operational risk.

It appeared to be an attractive investment. It was beset by destabilizing changes to leadership, a lack of appropriate capability, poor co-ordination, over complexity, underdeveloped plans in continual flux, and poor budgeting. It is not easy to believe that the programme was in a position to deliver successfully. Not set up to succeed is a key phrase.

More worryingly, the factors identified in the report as contributing to the failure are ones that we all too frequently encounter when we review challenged or failed projects.

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All of the reasons identified are well known and serve to highlight a low level of digital literacy across c-suites, and the failure of corporate governance and leadership to make informed IT investment decisions. The Bank did not provide any of these things to the extent necessary to ensure success. It is difficult to avoid the conclusion that both Board and Executive failed to interrogate the programme sufficiently closely and paid inadequate attention to its obvious difficulties until it was too late. In our work, we find that not only are boards ill-equipped to deal with digitization but neither are many executive management teams.

This is merely setting up the investment to fail. Research that we have conducted reveals that leadership teams play a pivotal role in determining whether or not their organizations exploit the innovative opportunities provided by IT. CEOs set the tone for IT, and their active participation determines whether their organization optimizes the return from spending on IT.

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  7. The fiasco at the Co-op starkly illustrates this. We have developed a simple yet powerful framework that leadership teams can use to navigate the digital landscape and avoid the kinds of problems that the Co-operative Bank suffered. It helps to ensure that they:. The framework is based on four business-focused questions that are at the core of effective governance of IT that every member of a leadership team should have in his or her head.

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    This is the strategic question. The first accountability of the CEO is to clearly and regularly communicate what constitutes value for the enterprise and the strategic objectives to which all investments must contribute, against which their performance will be measured. The second, is ensuring, through the initial investment selection process and regular portfolio reviews, that resources are allocated to investments that are both aligned with, and have the greatest potential to contribute to the strategic objectives.

    And is this achievable? Moreover, the initiative also seems to have been championed by the CIO and when he left the organization in nobody on the leadership team took up the mantle, and the drive to make the investment a success seemed to have been lost. Although we are going beyond the evidence in the report, we do not think that it is unreasonable to suggest that the investment was considered as a technology programme and not a business change initiative.

    This is the architecture question.

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    Because this question is usually thought of as relating to technical architecture, it is generally considered by CEOs as a technical issue and the domain of the CIO. Nothing could be further from the truth. What we are advocating here is a broader view of architecture — enterprise architecture — which has both organizational and technology components. The CEO is accountable for ensuring that there is an appropriate enterprise architecture in place. However, the observations in the report suggest that, if such consideration had been given, it may have raised a number of flags.

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    As a full service retail bank, that also serves small and medium-sized enterprises, the Co-op provides a variety of products and services e. This is the delivery question. Although this is the area where there is a significant body of knowledge, it is the one where the failure of governance continues to result in significant and very visible failures.