“Gear up” means “to prepare for something that you have to do” or “to prepare someone else for something” (source: Cambridge Dictionary). To assess whether your company is prepared to grow, ask whether your management team has clear answers to 4 questions: Does the company offer something special enough to compel customers to spend money? The instinctive answer is “of course it does.” After all, a customer base exists and the company is stable, even if growth is slow. But can the management team relate a shared, crystal clear vision of the company, its category, and its primary benefit?
PEARSON STRATEGY GROUP’S STRATEGY AND INNOVATION BLOG
Discover Socially Responsible Profit at MiniTrends Conference in Austin, TX, Oct. 2-3
Making money does not require tossing out your social responsibility. Discover how you can profit AND make the world a better place at MiniTrends 2013: The Integration of Profit & Social Responsibility Conference and Workshop, October 2-3 in Austin, Texas. By understanding MiniTrends — emerging trends that are not yet widely recognized — you will discover effective ways to explore competitive opportunities that can make a positive difference in the world.
Current Events Debated at Engineering Forum
AC trumped DC in the War of Currents during a forum featuring members of the EMerge Alliance. The EMerge Alliance is “an open industry association leading the rapid adoption of safe DC power distribution in commercial buildings” through the development of EMerge Alliance standards. The July forum, a special meeting of IEEE’s PI-2 Chapter, was organized by Steve Pearson of the Pearson Strategy Group and vice president of the Austin chapter.
Keep up with Changes to National Electrical Code at Fall Workshop
Updates to the National Electrical Code (NEC) will be the topic of a day-long workshop scheduled for electrical engineers, electrical designers, electricians and estimators Friday, Oct. 4, 2013, in Creedmoor, Texas. Stallcup is a nationally recognized author, instructor and expert on the NEC.
Data Mining: Don’t Settle for Coal When Diamonds are Possible
You’ve likely heard Devo’s 1981 hit song “Working in a Coal Mine” but if you think that “mining” is only something done underground, guess again. Modern mining can turn up important information as easily as coal or sparkly gems. And “data mining” may unearth strategic fuel for your company’s future. With enough mined data and capabilities you could make data associations that can be used to improve your business. Companies such as IBM are betting that mining of “big data” will take off in a huge way. Large companies have lots of money and resources, but how can you leverage data mining in a smaller organization?
Presentation to the IEEE Student General Meeting at the University of Texas at San Antonio
Steve presented on the role, activities, training and incentives of being a consultant to the IEEE Student General Meeting at the University of Texas at San Antonio.
Ever had a great invention? Some brief ideas for inspiration
I’ve got a lot to learn about innovation and fun, but so do a lot of businesses. Mix fun and innovation and you have the potential to develop ideas that could become the next big thing. Employees would benefit too. Wouldn’t you prefer to work at a company that values having fun AND being innovative? I would. It turns out that having fun is something that helps our brains develop new ideas that aren’t simply a marginal improvement over old ideas.
One for All and All for One- a Leg Up on Innovation
I tend to reference movies a lot (strange, I don’t see that many) and in a recent post Disruptive? Emerging? Adjacent? Are you a technology wise guy? I referred to the Three Stooges. Fortunately, for the purposes of unnecessarily aging myself, they’ve been resurrected in a new movie. Another “triplet” relationship exists with each company: technology, market and intellectual property. These aspects of innovative companies are the legs that support the stool upon which many companies position their future. Sure, there are many tactical company functions, but HR, administration, accounting and legal support growth, not lead it.
Disruptive? Emerging? Adjacent? Are you a technology wise guy?
Innovative companies need to leverage new ideas to generate future revenues. Learning how to mix internal and external innovation to your advantage is a profitable skill. So, how does your company seek out innovations and learn to leverage them into a stream of money? Do you remember the invention of the telegraph, the telephone or the fax machine? Thank goodness I don’t remember the invention of the first two, but I do remember when fax machines showed up at restaurants to take orders. These three technologies are well entrenched in society today but there was a time when they were much more novel.
Has the Technology Life Cycle thrown you a curve?
I made the case for scheduling time for strategy development in my post Do you give employees time to goof around? Some do!. I believe all companies should find the right balance for time spent on strategic thinking. How does your company strategize to best use resources for your current technologies? How do you plan for the products that aren’t yet being considered for R&D?The starting point for your answer lies with the technology life cycle curve.