Archive for the 'Business' Category
Education Futures, Facuty showcase at RIT: Innovating the provision of experiential learning in online executive education
RIT's Saunders College of Business launched it's online EMBA program about three years ago with the express intention of innovating the provision of online education for executives. Top among those innovations are the use of highly immersive, interactive experiential approaches. Unlike our regular MBA and undergraduate business programs, executives bring with them a set of unique challenges that alter the usual approaches of instruction. One example is in the use of pro-bono real world client projects. Contractual obligations towards current employers and time constraints are two of these challenges. Add to the mix the geographic dispersion of many of our executive students (some serving overseas in the military for instance) and we find ourselves limited in what we can do to create great learning experiences. Undeterred and fully supportive of 'experience' based approaches the program arrived at a potential solution. In my Marketing Strategy course I make use of something as seemingly simple as a fictitious 'client'. Each week the client reveals additional issues surrounding it's ability to compete effectively in the market – and the job of the EMBA team is to reflect on the ways in which the theoretically rich nature of the materials can be applied to solving this problem. The results are in – executives love it and so too the judges of innovative teaching practices at institute level at RIT. Students get the benefit of application (something critical to the success of executive training where more often than not students need to be able to apply their learning to their jobs on Monday morning), the immersion of team interaction (thanks Adobe Connect), and the delivery of a real world marketing plan at the end of the intensive process (our EMBA courses last a short 6 weeks). It is with great pleasure therefore that Ive been awarded the task of representing the approach of my course specifically at the Educational Futures Faculty Showcase in the Spring. For more information on our online EMBA and the benefits of the program look here.
Forward thinking – tips and tricks from RIT’s nomenklature
I recently had the pleasure of serving on a panel of RIT forward thinkers for the Wallace Center at RIT. Liz Lawley, Enid Cardinal, Ryne Raffaelle and Mike Johansson gathered with the purpose of identifying top practices or tips for forward thinking. Several gems were shared including;
1. Consider your network sacred – it holds all of the answers to future problems if you engage or follow the right people.
2. Forget local news – focus on whats happening internationally in science and technology and make a daily commitment to it.
3. Shower, drive, day dream, and find yourself in waiting rooms more often. The down time of these daily events and activities can provide great 'thinking time' to ponder problems and solutions.
4. Play more! See exploration of new things as a form of play time. Give yourself an hour and invest in exploration of new software, worlds, techniques, stuff.. low risk, low investment, high potential ROI.
5. Learn to spot patterns of conversation in social networks – who shares common insights on issues that are not normally related or connected to each other? A great way of spotting higher level patterns of thinking regards new concepts.
6. Have FUN more often thinking about the future. Pontificate – naval gaze – identify common problems that might be solved by a little additional investment of time and energy.
7. Fail more! Its ok to FAIL. Failure shows us what the limitations of a system are, and how we might pick ourselves up and succeed more often.
8. Join the dots more. Plan on paper, problems towards possible solutions. Think about goals. A goal-less life is an unhappy life (or is it?).
9. Don't allow yourself the luxury of the 'I have no time to think about the future' argument. You have plenty of time to watch TV, read books / magazines, surf the net.
10. Think backwards. Chart a position in the future. Picture it – and then work backwards. Like setting goals, backward scenario planning can do wonders for forward thinking.
ICRM 2011 Redux
I finally find myself some time to reflect on the comings and goings of a busy marketing professor. The last few months have been something of a whirlwind of happenings. One highlight (of my academic life thus far in fact) was hosting the 19th International Colloquium in Relationship Marketing. This global conference is my absolute favourite – largely because of the supportive culture that it has engendered over the years, and especially as it was the first venue where I presented my doctoral work (Kaiserslautern, Germany, back in 2002). It was the only conference over my doctoral career where I felt truly energized by those around me and the advice that I was given (who would not relish the opportunity to get feedback on an early research idea from the likes of Gummesson, Gronroos and my all time academic favourite friend Ballantyne for instance?). Two years ago whilst attending the Swansea conference the latter academic asked if I would host the 19th. I jumped at the task. Organizing an international conference is no easy task, and I can assure you this tested just about every inch of these skills in order to make it a success. And thankfully armed with people from Saunders like Dana Pierce (the true organizing force of the event) – Vic Perotti (who kept me sane throughout) and my marketing colleagues including Raj Murthy (AKA @theraj), Joe Miller and Adriana Boveda-Lambie all attended or presented their papers of leading edge research. The topic of the conference was 'The Future of Relationship Marketing A Technologically Connected Global Social Network' – the site is still live *here*. All of the papers dealt with relationship marketing, an area clearly dear to my heart. The key to the conference's success was its intimacy, 30 international academics representing over ten different countries from New Zealand to Finland. Specifically limited under my direction as host to engender what became a number of single track sessions where all delegates got to muse over, and debate the content of each others papers in depth. We also played hard as academics, visiting the Rohrbachs brewery in Ogden, the Lower Mills Gallery, and a gala event for the final evening at the award winning Casa Larga Winery. We showcased some of the best spots the area has to offer including the obligatory tour of Niagara Falls during Fridays final event. It was a real pleasure hosting the event and seeing so many colleagues and friends descend on Rochester. My thanks too the out going Dean of the Saunders College who supported the event whole heartedly. Just another reason to believe in the quality of education youre getting at Saunders, an environment that truly supports a quality research environment that ultimately benefits all our students and faculty alike. I should know, Ive already included many of the findings of key papers in my internet marketing and strategy classes on social media. Some of the little Neil'isms inflicted on the conference include: a live twitter stream were papers were debated realtime throughout the event, pictures were shared, and speakers were teased (especially the one that broke the presentation controller!), a collection of youtube videos of speakers in action, plenty of pictures to capture the vibe, and goodie bags of local produce to welcome delegates with. Who says conferences cant be unique and fun at the same time?
Justifying the cost of a college education: a marketing problem?
Just read with interest a story from the UK about a young woman who felt she couldn’t justify the cost of a 27,000 GBP college degree (about $43,000) – and so she’s not going. Fair enough you might say. College isn’t for everyone. She is however a top performing student. So why can’t she justify the cost? The answer: the lack of perceived value. A marketing problem! Her argument is quite clear it seems, why bother spending that sort of money getting drunk, meeting new friends, having a good time and maybe getting a job at the end of it? You can do that at home for a fraction of the cost (invest in a twitter account and pursue many random tweetups – ones bound score a few interesting people). Back to the issue of this being a marketing problem. We have a huge issue as marketers where the consumer / customer lack awareness of how our ‘product’ can satisfy a need. Promotion is of course one activity we can engage in to help them see the light – and who doesn’t want to hug a 6ft cuddly tiger now and again? But to me this issue is primarily one of the content of the degree and a perceived lack of worth in the mind of the investor. I can’t blame Brits for suddenly taking stock and asking whether or not they should invest what essentially amounts to a mini home mortgage for something that used to be ‘free’. Enter marketing and its role in demonstrating the value of the experience. How best to do this? First things first – understand the value that a degree provides. At Saunders and RIT we focus on practical understanding, supported by many faculty that are either clinical in nature (ie war torn from the trenches sort of salt) or research animals that help lead the field with new knowledge or understanding. Increasingly of course, we have both and students get the benefit of this range of faculty experience. One might ask – is that experience worth the price tag of $55k for a three-four year degree? At face value – HELL NO, nice try academic enrollment officer. BUT – dig a little deeper and you’ll spot the value from a consumer perspective. The one thing most incoming freshmen lack for undergraduate (and increasingly fast track MBA degrees) is real world experience. Our programs strengths at RIT and Saunders in particular is its focus on providing you with this exposure to real problems. Consider the Saunders Resume (a concept I have talked about before now). You have the opportunity, at last count over 20, to engage with faculty that teach experiential based courses with real clients. Carefully plotting ones path through a program can easily yield over ten consulting class projects (5 alone in my advanced internet marketing class). Now that’s a lot of experience you would not otherwise have had. Sure, some projects might not turn out great, team dynamic issues, a wayward client etc (which doesn’t not mean by the way that you can’t still extol the benefit of the experience there of – see my blog post on making the most from your consulting experience on this site), but many will turn out sufficient enough for you to want to make use of them on your resume moving forward. Likewise the student clubs and campus events like the many conferences we host every year. Experience that does not usually find its way onto a resume at the end of the process. And then there is the network you build of like-minded interesting people (more on this in another post). So how best to promote this from a marketing perspective? One answer is to demonstrate value by comparing an incoming students resume at the point of entry with that at the point of exit. A college experience taken seriously is a powerful way of demonstrating your worth to not just an employer, but yourself as well.
Angry Neil in Buffalo
Looking forward to meeting Alums on the 3rd November where I'll present my personal branding diagnostic for digital realms. This is one of the areas where I feel we as a college might better prepare graduates and alums alike. I last lectured on this topic back in NYC to a packed house of former students and RIT alums. Scores from my diagnostic revealed a wide range of those that are using technological channels like LinkedIn to good effect, and those that are digital recluses. A happy medium should be sought between managing your presence in these channels, and protecting ones personal and private lives – suggestions for which are also given in my presentation.
No commentsFlash mobs gone wrong: defending business
Lots of news to report on in recent weeks regards the negative use of social networks. Top of my list (and of course mind) are the English inner city riots. Thankfully things have calmed down, people are recovering and police are sifting through the data trails left from the digital onslaught of disaffected idiots. Social networking gone wrong. Example across the world of flash mobs (think crowd sourcing gone wrong) are easy to find. Shops being targeted by hundreds of people in one instance with little the local authorities or security staff can do. It left me thinking about how businesses can protect themselves against this mass action. In extreme cases like those of England probably very little. But to my mind the importance of planning for such events is critical and every business should take the threats of community action, both on and offline very seriously. Trouble is, most do not, having spoken at a number of regional events on social media recently it struck me just how many are considering social media for growth, but havent considered aspects of defense. Contingency planning across social media fields appears to be very scant and it is vital. A reputation management plan is central to any likely defense of a business online. And by this I do not mean getting lawyers involved to write expensive cease and desist letters. These usually stir an even larger furor as bemused onlookers get involved and further trash an already tarnished reputation (the number of movements aimed at covering the costs of individuals singled out for legal action are common). Including disaster management strategies is increasingly important to the planning process. As marketers we are charged with identifying control strategies for the tactical plans we implement. Good marketers can control the performance of any variable. Why not therefore turn this expertise towards answering the questions of controlling bad press? The answer is probably that it doesnt 'make' us any money. Of course this is short sighted and defending a business interest online will end up saving the company much more in terms of business kept, relationships unsullied, and prospectives still interested. So – social media strategists – include these in your plans for world domination. Give the contingencies section of your marketing plan the attention (and budget) it deserves.
In defence of networks – beware the digital castaway!
Recent months have seen some interesting trends with social networks. The rise of google+ for one, and the prophetic claims by many that they are done with twitter and facebook for another. It got me musing over the value of my network and invariably left me questioning that which would be lost by deactivating my presence. Facebook for me acts as a repository of knowledge of current and former friends, professional contacts, alumni, family – all the interesting people I've met. Do I stay in touch with all of them? Of course not, but does having access to them provide me with value? Absolutely. One of the key features in a study Vic Perotti and I conducted a while back – determined one key feature that many usage studies fail to mention. Remembering. Remembering that quirky academic from an old conference that can help you with a methodological issue, a student who was fluent in Cantonese on a translation project you're working on, an old college friend that moves around a lot physically (but who's online presence is permanent). Social networks act as excellent repositories of what is otherwise an addled brain full of useless data, facts and fiction. Would I fail to function without access to my facebook network? No. Of course not. Would I miss a huge part of what is my wider social frame of reference on the world? You betcha. Seeing former students getting married, starting families, being promoted, sharing life experience, saying happy birthday, being poked (showing you're remembered or that you remember), sharing a video or just saying hello. Professionally facebook has also been an extremely useful tool as it has enabled me to engage my network in my wider research agenda. Studies on perceptions of advertising, online customer experience, trust marks in online spaces to name but a few. Seeking help is only one side of the coin, helping is of course the other. Referrals to experts, reminders of concepts, answering queries, informing your wider network of professional or personal happenings, there are many benefits of continuing to engage and co-create with your network. As with most forms of technology though, it takes time to identify and appreciate the value that it provides. We saw this with twitter, and we are seeing it with facebook. And occasionally these spaces can provide distractions, distortions, and general distemper. But hold on – one dangerous trend that exists for many graduating students (or upset academics that have probably received one too many pokes in their lives) – is the decision to defriend or deactivate contacts or ones presence in an entire system. It's like saying bon voyage to email and asking someone to phone you instead, sticking your head in the sand hoping life will go away, or making lemonade sandwiches as an aid to digestion. Resistance is futile, and you will be back (ie re-activating your account when you remember those vital contacts you have in that system). So, in recognition of all the value that social networks provide, I am prepared to make a number of pledges. I will not be deactivating my account, I will not be asking people to friend me in new spaces when they reside in the neighborhoods of old, nor do I want to begin a new life as a digital castaway. So long live 'social' networks like Facebook, 'professional' networks like Facebook, 'quirky' networks like Facebook, and long may you continue to engage and get value from your presence!
A wonderful example of product extension – Nestle style
As anyone with babies will tell you – the process of correctly mixing formula is excruciatingly painful at the best of times – particularly on a few hours sleep. Clumping, correct temperature, AND mess are three aspects I DO NOT miss about my own daughters early months. Enter Babynes – nespresso for Babies. Now, before you come quickly to the conclusion – only in America – I would encourage you to think about the example it sets as a WONDERFUL way to extend an existing product into a new market (anyone for Ansoff?). Cited as a potential 'game changer' by a recent Reuters article Babynes appears to be pure genius in its conception. Ready made packages that pop out super charged cow juice at the press of a button. One can only imagine other applications as the company moves forward: A few of my own suggestions to follow..
1. Gin'nes (though Guinness may well have a problem with this one) – the perfect way to dispense the perfect drink, without the hassle of ice, measurement, stains of bitters (for the perfect Pink Gin and Tonic – one of my faves), or arm fatigue from lifting heavy blue bottles.
2. Tropical Fish'nes – everyone who owns a former table adornment from a plush wedding will tell you – cleaning water and feeding the little devils takes a great deal of time and energy (and lets face it – youre lazy!). Now you dont have to – one press of the button and youre done. Exit one happy little fish.
3. Meds'nes – taking medication? what a hassle! Pop in your favorite life saving pills and suspend the devils in pure Evian water. What a perfect way to save the day.
With the new range of 'nes'es your life will be simpler, you will smell sweeter, the grass will be greener and you'll have more friends. Just ask George.
Thank you Nestle. We owe you one – and thanks (in all seriousness) for being innovative.
No commentsThe power of a p***ed off customer!
In the UK, recent news that a tabloid hacked the phone records (posthumously) of a young murder victim, and now victims of the 7/7 bombings has evidenced the British publics 'enough is enough' attitude towards highly questionable reporting activities in the motherland. The story in a nutshell – newspaper sanctions the hacking of voice messages left on victims telephone, presumably to get the latest 'scoop', THEN DELETES messages once the mailbox is full to enable further messages to be left. Outcome? Moral outrage, boycotting of the paper by the public, and now a backlash from the papers other main source of income – it's huge advertisers. Ford, T-Mobile, Orange, have all announced 'serious concerns' with the manner in which the company has encouraged / facilitated this crime. Damned by association for those staying with it by the looks of things. It reminds us that consumers have huge power in an often misunderstood and undervalued symbiotic relationship with business partners – especially with social media where we continue to witness a huge public backlash against the paper and its parent company. One anticipates an unhappy ending for a tabloid now in its 169'th year, perhaps its last, but one hopes not before it compensates those affected by its acts.
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Update July 13th 2011.
So, very few people could have predicted the outcome or the severity of the backlash witnessed against News International these past few weeks. From closing the paper to backing out of a BSkyB bid – the implications of the hacking saga has caused considerable damage to the image and reputation of the parent company. Evidence? rapid decline of its market value as represented in stock price. Consumers have spoken – what remains to be seen is the level of impact the story will have on the US market (Fox is owned by the same parent company as the now defunct NoW). Perhaps it is time for a Hippocratic oath from journalists. Ive always been somewhat skeptical of organizations or industries that support said oaths. Non legally binding in most cases, totally ignored in others. What it would do though is set the scene for what the profession considers 'acceptable practice.' Hacking private voice mail, deleting voice mail (essentially giving loved ones the false hope that said victims might still be alive – ie deleting their voice messages) – or employing criminals to private secure details seems to me at least to be totally wrong. And you don't need an oath to remind oneself of the fact. The whole sorry affair appears to have struck a chord with the British pubic because it strikes against the culture of 'fair play' which we are readily known for.
No commentsXoom tablet love fest
Just when I thought there was no further gas left in Neil's tank of technology love enter the Xoom. I've been anticipating this moment for some time for the following reasons. 1. I want a portable device that will let me connect to Adobe Connect sessions wherever I need to connect. 2. I'm keen to explore the implications of this technology with the latest secondlife apps – whilst not perfect, the open source community have been doing wonderful things to bring this world to the tablet. 3. Portability, with an hdmi out link its possible to use this for practically any task, presentations (once we move towards the latest projection units at RIT!) demonstrations, even games (stay away from fruit slice is my advice). 4. the input of the Xoom is excellent, I'm touch typing on this as we speak. 5. My fave.. it supports flash. I mean seriously Steve – the 80's called – fix your operating system before you lose any further ground in this race. 6. The screen, speed of response, quality of camera, sound dock, clean lines and overall sexiness (it's black) really impress me. Overall assessment – rather pleased with this acquisition. With respect to possible enhancements, there aren't many. Mostly these relate to applications. I'm looking forward to skype mobile with video for the Xoom, forward facing camera options for Adobe Connect, fruit slice two, and an absence of oily fingers. Dress gloves of course are optional in the use of this machine but recommended.
