This blog entry by Ken Favaro on strategy+business shares an insight into how P&G has done well not only in product innovation in the past, but has also demonstrated the ability to innovate in its business functions.
The article puts forth the need for more strategic innovation – or business model innovation, if I may dare to say so -for P&G to unleash the next wave of growth.
This entry is a bit unusual as compared the last few. After interacting with several people & browsing through various ‘careers’ sections on websites of companies – I had the thought of articulating this post.
Before the MBA, during the MBA and after the MBA – we come across a similar set of questions. And then again who asks whom – Sometimes it’s us asking people, then it’s us asking ourselves, and then it’s others asking us!
How do we change courses in our career? Can I move from engineering to strategy? Is it possible to immediately land the right job-position for launching a new career path right after the MBA? As generic as these questions are, equally generic can be the answers!
I recall our Financial Accounting Professor jokingly remark often: “‘In Accounting the right answer is – It Depends”! I am tempted to extend the same to the search for “The Career Opportunity” as well.
Amidst all this it helps to have some guiding principles and an awareness on why there can be a (mis)match between recruiters needs and a potential candidate’s (read: job applicant) aspirations!
Potential candidates base the choice of their next career move based a variety of factors (a short but not exhaustive list) as below:
A promotion in a new job
Opportunity to learn a new skill
Opportunity to learn about a new industry/domain
Monetary gain – A higher remuneration
Opportunity to travel
Looking for a work-life balance – priorities can change right!
The weight assigned to these factors will define the profile of this candidate. I seek to define a candidate profile – The Perpetual Learner! If I were to plot these qualities on a Radar Chart for such candidate – it could look as below (0 – least significant, 5 most significant).
The Perpetual Learner can do this in two ways, each posing a different level of risk to the employer
Working beyond predefined responsibilities: Not being accountable for this: is it the right way to accelerate? What metrics can be used to measure success? Will it jeopardize the existing responsibilities?
Learning on the job: There will be a planned training to acquire these skills. It poses a calculated risk of failure to the employer – but can be mitigated by monitoring execution under a mentor
Organizations – specifically recruiters therein, seek certain behavioral qualities in their (future) employees. A few of them can be:
Level of expertise in their current role
Stickiness (If I may call it so)! – The hope that the employee will stick around until eternity and his/her skills will be useful for the same length of time
Willingness to grow, accept higher responsibilities
Capability to move across functions, adopt to new roles
Risk taking ability
Specific to an organization, each of these qualities will bear a specific weight in the bigger picture. This can be a function of its strategic priorities, the values of the organization, the risk taking ability, etc. Some people centric companies might believe in empowering their employees with new skills & expertise over time – readying them for greater responsibilities in the years to come, putting at risk the probability of success in the short-term – let’s call them “Employee Booster”. If I were to plot these qualities on a Radar Chart for an “Employee Booster” organization – it might look as below.
Moving on – Lets Simplify! In order to unravel the sweet spot for job-seekers and recruiters likewise, I am making an attempt to plot this chart below. The two axes indicate
Learning needs of the Perpetual Learner – Along the X-axis
Employee empowerment motivation in an organization – Along the Y-axis
For career changers, it is thus important to find a match on the top-right quadrant of the graph above. Assessing corporate culture in the target company is important while seeking opportunities. Will they recognize my thirst for knowledge? Will they consider my “quick adapting capability” as a skill? Affirmative answers to these show that you are looking at an Employee Booster! The second route – the much talked about “Transferable Skills”! Pitching these right can help lower the perceived risk for the employer. If this bet works out right – both the employer and employee stand to gain; if not, both stand to lose out in the short term.
An employer’s profile, as stated before, could be a function of its strategic priorities. Employee Boosters choose to build the capability to change. Building this adaptability to change opens opportunities for innovation.
Technological innovation can result from investments in researchers and R&D capabilities
Process innovation may result while striving for operational excellence
Business Model Innovation (BMI) will result by exploring new ways of business/corporate decision making
Which of these is the Employee Booster’s priority is a choice each organization makes, and needs to execute accordingly. The organizations (big or small) profile is evident from its hiring practices.
Perpetual Learners need to target companies which believe that ‘Change is the only constant’. More importantly, the direction of learning desired will help shortlist the companies which value that direction more – technology, process, BMI!
A last word – Perpetual Learners need to have a plan B! After all, while every organization wants to project the Employee Booster image, not everyone is.
About 30 months back, I took the decision to embark on a new learning curve – take a break from the roles I was already enjoying – to equip myself with new skills, expose myself to untested territories and to open opportunities in which I can create a bigger impact by leveraging my old & new skills.
June 14th 2013 was Commencement Day @ HEC Paris! This day, when my fellow classmates & I achieved this milestone, marks a closure to the 16 month roller coaster MBA. More interestingly, it sets up the beginning of the new challenges ahead.
While there is no immediate answer to the question of “what next?” there is a plan in place – the execution of which is in progress!
It would be selfish to not mention the sacrifices my family has made during this journey. My parents, my wife & my daughter have gone through a strikingly different lifestyle, when compared to the pre-MBA days.
Lastly I must admit, the final video played on Commencement Day brought a tear to the eye – surely will miss these days!
European politicians at Brussels vote for a roaming-free telecom universe in Europe from 2014. Users will benefit from ‘home rates’ for voice calls, texts & internet access across boundaries in Europe.
While this might boost industry consolidation in the years to come – I see one clear beneficiary in this race – internet based application providers.
Surely, the likes of Google Maps will see a spike in usage – “Roaming Charges” has been the biggest deterrent to me using the service on the mobile while driving across Europe.
For most people in the valley – running startups, working for them or mentoring them to become insanely successful – the sequence is clear. There is no argument. Anyone who says otherwise simply doesn’t get it.
Wouldn’t it help if we all understand and speak the same thing when we say Strategy, Product or Business Model?
Here is a very simple definition for these terms. Not made up, not changed to fit present day mania. These are well established definitions for running any business. And those disrupting status quo to create frictionless something or the other are not exempt from these definitions.
Strategy – Here is a simpler and relatable definition – Strategy is about making choices under constraints (and most times under…