One of my global financial services clients wrapped up its third annual VP development program focused on innovation at the end of July and I am thrilled with the results on a number of levels. First, the project teams met the challenge of seeking a problem to solve, delivering a proof of concept, and convincing senior execs to allocate resources. As an example, a global team of derivatives sales people and traders, focused on leveraging the
This month Mohr Collaborative helped one of our major financial services clients launch a five-month innovation-focused development program for 48 high-potential VPs from across the globe. We ran a series of workshops in which the teams generated opportunities and vetted them with peers and internal experts. The teams are now hard at work doing client research. The nine teams will reconvene in October to pitch their solutions to senior management.
In April Mohr Collaborative launched a three-month innovation-focused development program for 51 high-potential VPs from across the Global Markets businesses of one of our major financial services clients. The ten teams will reconvene in July to pitch their solutions to senior management.
“Six ways to make Web 2.0 work” in the McKinsey Quarterly claims that Web 2.0 efforts within enterprises (blogs, wikis, podcasts, information tagging, prediction markets, and social networks) are likely to fail unless– 1) Senior executives become role models and lead through informal channels, for example the CEO starting a blog This only works if there exist senior leaders who get it and can make a contribution through Web 2.0 channels that employees recognize as
The February issue of Harvard Business Review includes a “breakthrough idea” from Sandy Pentland of MIT, How Social Networks Work Best, that confirms what we have learned in years of managing virtual innovation teams: Web 2.0 tools are very useful when teams are gathering ideas and information but when the time comes to synthesize that information and decide where and how to proceed, teams benefit tremendously from face-to-face interaction. The article describes the decision process
Art Hutchinson has just had his essay “Preparing One’s Mind to See” published in the book Threats in the Age of Obama, edited by Michael Tanji. The collection offers a view of some of the more pressing threats the Obama administration will have to deal with. Art’s essay takes off from some of his recent posts on his blog, Mapping Strategy.
Glen Mohr will co-present an Interactive Session entitled “Continuous Innovation for People Development: A Systematic, Sustainable, and Meaningful Learning Process” at the Corporate University Week conference in Orlando, November 18-19.
Senior management of one of our financial services clients has completed its review of the 11 business plans delivered by global teams of Vice Presidents in our program concluded last July. They have recommended that 8 of the projects move forward to implementation. A few are already well on their way. Two of the remaining three projects have been put on hold pending stabilization of market conditions.
Vanessa Dimauro of Leader Networks wrote recently about why communities help companies in uncertain times. With reference to the current financial markets crisis she says “Now’s the time for those organizations to use their social media tools,” and gives some suggestions for using online communities for crisis management.
With Salvatore Rasa and Barbara Kivowitz, Glen Mohr produced a video for a major health care system in Pennsylvania telling the story of their ongoing transition to an electronic medical records system. The video focuses on challenges to implementation, benefits to patients and providers and the need to extend the implementation, especially to inpatient care.
The prediction market we ran as part of our innovation program for high potential young employees at a large financial services firm turned out a great success on a number of levels. Most important, it generated excitement around the proposals, motivating a high percentage of participants to actively trade and provide a new type of feedback to one another. And, though forecasting wasn’t the primary goal of this market, the market results served well to
On Friday Mohr Collaborative wrapped up its second VP Development Program of 2008 for one of our major clients. Convening for the first time since June, nine teams pitched their projects, representing hundreds of hours of work, to ten members of the executive management team. In aggregate the projects represent $727 million in potential revenue over the next three years.
Glen Mohr was interviewed by ITBusiness Edge about how we use collaborative technology in our innovation programs: Mining Siloed Employees’ Knowledge a Key Collaborative Prize.
This week Mohr Collaborative wrapped up it’s second annual VP Development Program for one of our large financial services clients. After 3 months of intense work, 53 Vice Presidents on 11 global teams came to London to pitch their innovative proposals to senior executives. Projects addressed opportunities in Latin America, Asia and the Middle East as well as offering improved risk management and even a novel way to offer protection from falling home prices. Though
A few years ago, when James Surowieki’s book, The Wisdom of Crowds, came out, I became interested in prediction markets as a way to tap the collective wisdom of the participants in our innovation programs. While we provide the innovation teams with frequent feedback from senior management, program faculty, and other industry experts as they generate and develop their ideas, I have always felt we could improve getting the participants to support one another. They