IBM Global CEO Study 2012:: customer-centricity v industry “eccentricity”

Once you get over any revulsion to the term “customer centricity” it does make really good sense, UNLESS you are one of the many people who can’t see beyond a linear supply chain with customers at one end!

imageI loved the revelation that insurance CEO’s appear to be on-board with the “sentiment”. But then I remembered that, in business (particularly the Financial Sector), there is little scope for sentiment just plenty of time for rhetoric i.e. talking the talk to, such as, IBM, PwC, KPMG, etc.

Customer focus for insurance CEOs means getting everybody involved

  • Employees. “Empowering employees through values” is a key imperative for CEOs in 2012. Technical skills are necessary but not sufficient anymore. Flexibility and communicativeness become the most important personal traits.
  • Partners. “Amplifying innovation with partnerships” means thinking past the traditional partnerships with agents and brokers, to working with third parties in claims remediation and even in underwriting.
  • Finally, the CEOs themselves need to be involved. Customer centricity starts at the top, and 68% of insurance CEOs see customer obsession as the key characteristic a successful CEO needs.
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A Fish Rots From the Head:: a commentary on Corporate culture

Is it any wonder that, when you glimpse “behind the curtain” of many institutions, trust is at an all time low!? It also explains why TRANSPARENCY is viewed as a threat rather than as an opportunity.

We know bankers are easy targets but they are not alone. What about their poor relations in the good old insurance industry? Despite the usual TALK about professionalism and the need for change the stench of insincerity serves as a warning that extends far beyond the reaches of enormous marketing budgets and relentless sales campaigns!!!

I am sure that readers will be readily able to attribute some of the characteristics to organisations past and, more worryingly, present. I can think of some individuals and firms within the insurance about whom this could have been written…but there is no need to name names, is there?

What I want to hear about are the insurance leaders with a burning desire to be the best that they can be for ALL of their stakeholders and aren’t afraid to demonstrate belief in their core values. If this is you, or if you know of someone about who this could be said, I would delight in creating the Operational Structure to deliver far greater, sustainable, returns than will be achieved by an army of soulless salespeople. Read more of this post

Success For Organizations Comes From The Ability To Drive The Strategic Transformation At The Most Critical Points. “Business As Usual” Is A Very Dangerous Expression These Days

Freefall“Transformation” may sound a bit OTT but, if the Culture and Operational Structure are not aligned to the goals of the organisation “change” simply does not convey the scale of the challenge.

If “leaders” prefer to overlook even the most glaring changes in the economic environment in which they exist, preferring what they are familiar with and a belief that they will “turn the corner” they may not be worth following.

In the multitude of voices and noises, strategic and organizational paradoxes, CEOs and their executive team need to learn to navigate, transition and lead their organizations into a new future. Companies that failed to transform their organizations because they put too much emphasis on tools and technology and not enough on foresights, mental mindsets and leadership behaviours. Their leaders failed to develop the shared visions, values and beliefs that serve as foundation for dynamic culture and to engage all employees to co-create the new culture and to provide opportunities for them to initiate and participate in a shared destiny.

via Success For Organizations Comes From The Ability To Drive The Strategic Transformation At The Most Critical Points. “Business As Usual” Is A Very Dangerous Expression These Days. – innovation playground Idris Mootee.

WEF 2012: talking the talk…all the way to Dystopia

WEF top Five Global RisksOn paper a great annual event. Something that SHOULD have real “punch”…but what happens to all the “thought leadership” when the collective wisdom spills out into the real world? Simple: not a lot!

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Complexity Management: Improve Profitability & Reduce Risk – Forbes

From my experience the majority of people fall into two “camps”. The one’s who claim they know about complexity and already “deal with it” or those who admit to knowing nothing/very little about it and do nothing. What both tend to have in common is that neither can define the problem, explain current/possible solutions.

NONE are able to quantify the impact of the problem upon their profitability or risk profile.

There is very little understanding that unforeseen and unforeseeable are not the same thing. Read more of this post