Showing posts with label financial times. Show all posts
Showing posts with label financial times. Show all posts

Wednesday, October 03, 2012

Judgment Call: Can You Be A Global Business and Idealistic?

The Problem
Once again I've been asked to contribute to The Financial Times' Judgment Call panel - alongside Harvard Business School's Sebastien S Kresge professor of marketing Rohit Deshpande and the CEO of Polar Mobile Kunal Gupta.
The issue our advice was sought on was: Can you be a global business and idealistic?
This follows from the detention of Google's most senior exec in Brazil when Google refused to take down a YouTube video which allegedly insulted a local politician.

My advice, as regulars here will guess, was that not only should a global business remain idealistic - but that it must.
Here's the full (and only lightly edited for publication) response I supplied:
Organisations have to remain true to their fundamental beliefs - their purpose.
There may be a short term cost or loss from sticking to them but businesses built to succeed in today's Open Economy must take a longer view: Without consistency trust disappears; Without consistency believers stop believing; Without consistency supporters stop supporting.
My Advice: Top
Our connected world demands more than simple customer centricity, it requires customer partnership - and that is driven by belief.
Today's winners are Open Businesses - organisations which use their resources to create networks of people who care about the same things they do and who work with them to achieve shared goals.
This clearly relies on support from outside the org. It's this support, this willingness to participate, that delivers competitive advantage. They participate because they share your beliefs.
That is the bigger picture Google sees - and which no amount of local sabre-rattling is likely to make it relinquish.

This of course speaks to Principle One of the 10 Principles of Open Business - Purpose.
The outing in the FT this morning (October 3, 2012), also marks the first publication in print of the fact of our forthcoming book The 10 Principles of Open Business (see the end of my piece in the pictures accompanying this post). Though I have to say our potential publishers are suggesting that may, in the end, become a sub-heading. Will keep you posted, of course.
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Thursday, June 28, 2012

Judgment Call: Do Prepared Tweets Miss the Point of Social

I'm part of the Financial Times' Judgment Call panel - a group of business people called on from time to time for advice on the burning issues of the day for publication online and in print.
On Wednesday this week the panel consisted Don Tapscott (author Wikinomics) WhipCar.com co-founder Vinay Gupta and myself (as Co-Founder of 90:10 Group).

You can read the column in full in the print edition of June 27, 2012 or online (nb: the FT has a metered paywall model for content).
Or you can click on the images here to see larger versions.

click image to enlarge
The Problem was framed:
"Morgan Stanley Smith Barney has announced that it will allow its financial advisers to use Twitter and Linkedin, providing they tweet from a library of pre-written messages. Does this defeat the purpose of should it be commended for embracing technology?


Here's what I had to say (which was lightly edited for publication):

They appear to be thinking of social media as little more than a way in which they can indulge in direct selling. It’s a reductionist approach to human interaction which seeks to simplify the possibilities to: buy/sell. In doing so it misses out on the customer-led insight and innovation those prepared to be more human benefit from.

Indeed, you could ask why they bother attaching humans to the Twitter accounts at all when selecting from a library could as easily be achieved by a bot – and with less room for risk via human error.

Click to image to enlarge
This crippling desire for control (also found elsewhere in the financial sector) could undermine the whole enterprise. It’s humans that people are likely to trust and buy from. This too-controlled version of humanity will provide a confusing and eerily corporate view of the collection of people inside Morgan Stanley Smith Barney.

It also carries the risk of becoming the banking world’s equivalent of Apple’s Siri – and we all know how much fun people have had trying to catch Siri out.

On the plus side at least they have a control group of 20 who are being given a freer hand to be themselves. My guess is they will out-perform their bot-like brethren.


I was also on the Judgment Call panel when Morgan Stanley first started its twitter experiment a year ago (the recent interest is in a global roll-out to 18,000 staff after a year long trial). Click here to compare.

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Monday, June 06, 2011

Thoughts on Morgan Stanley's social media strategy

I've been asked to join the Financial Times Judgment Call panel - a group of people who, on occasion, get asked to contribute their judgment/advice on burning business issues of the day.
Those of you who have a subscription to the FT (and it's the one paid-for to which I do subscribe) will be able to read Judgment Call in the Business Life section of the website.
Those who don't could have read this in last Wednesday's paper. If you missed it I have scanned it below. I know - not really meant to - but I'm hoping since it's now almost a week old, and the quality of jpg ain't uber great - no one should be unduly upset (click on the pics for larger images).
The article is about Morgan Stanley's toe-dipping exercise re social media.
Morgan Stanley - like all financial institutions - have quite a heavy set of responsibilities to add to all the usual ones. Their response to this is to check every staff member's tweets before allowing them to hit the web.
Which makes for a stilted 'conversation' to say the least.
But let's not be too harsh. It's a start. And every journey needs one.



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The rate of change is so rapid it's difficult for one person to keep up to speed. Let's pool our thoughts, share our reactions and, who knows, even reach some shared conclusions worth arriving at?