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Digital Transformation

How Digital Transformation Is Changing The Business World

Digital transformation
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In the past, technological transformations arrived with a flourish. Today, that is no longer the case. Despite the quiet arrival of changes in technology, the impact of recent advancements is often dramatic. With the arrival of tech like IoT, AI and Big Data, intricate industries are operating with better efficiency and higher productivity levels. This is how digital transformation is changing the business world. 

There are five components of digital transformation. They include: 

• People 
• Information 
• Insights 
• Action 
• Outcome 

People 

Digital change begins with people, which is something that you should keep in mind when you consider information. In most organizations, the people part of digital change will include the information that they have about their customers, clients and workers.  

Information 

For an organization to scale the information that they have about their customers and workers, it needs to collect data. The information component is the area where advanced technology has the biggest impact.  

Insights 

Information is often compared to oil because the value of it is based on if your organization can clean, refine and use it to power something important. If you don’t have a model, framework or system, your organization won’t be able to take advantage of the information it collects and turn it into insights. 

Action 

Keep in mind that your organization needs to do more than reach the insights phase. In fact, the best insights will be useless if the organization doesn’t have a way to transition them into actions. Even if you have the most advanced artificial intelligence, data science and analytics, it’s still up to the people of your organization to decide how to handle a prediction. 

Outcome 

The last phase is results. In this phase, you need to assess the results and decide how to use them. 

The Importance of a Digital Culture 

Figuring out why your organization needs digital change is challenging. This is especially true if your company is operating smoothly. A major misconception is that when organizations upgrade their systems with advanced technology, the transformation is complete. However, digital change is about more than software or technology. Digital change is about company adaptability. 

For your organization to stay on track after digital change, it must be flexible and agile. An organization’s culture is key to a successful digital initiative. 

How can you determine if your organization has a digital culture? Consider whether your company believes that its clients are at the center of its organization. Do you use information to predict and foresee what your customers need and want? Also, assess whether your company makes immediate decisions when you have the information available. If this is how your organization operates, then you have a digital culture. If you’re not sure, then prepare to make changes. 

Digital Transformation is Imperative 

Digital change is shifting how the world operates. Organizations that embrace making the right changes at the right time will have an advantage over the competition. If you need guidance on how to use the information collected by your organization, contact me at the Productivity Intelligence Institute. 

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Growth Strategies

Why Is Goal Setting Important

Goal Setting
784 Views

It’s easy to feel as though you’re directionless. You work hard but aren’t getting where you want to go in life. A big reason why you might feel like this is that you haven’t taken the time to consider what you want from your life. It’s time to set formal goals. Why is goal setting important? It’s important because it’s one of the main growth strategies. 

What is a Goal?

A goal is an objective or a target that you want to reach using action. It seems like a basic concept, but there are a lot of goal variations. For instance, you can set a daily, weekly, monthly, quarterly or yearly goal. You can make big and small goals. 

Why do people set goals? We make goals to give ourselves direction and find a purpose in life. Set goals to motivate yourself and ensure that you look forward to each day. 

Goals Prevent Distractions 

Some people suffer from shiny object syndrome, which is when you’re always hunting for the next big thing. When people have shiny object syndrome, they constantly change their goals according to what is most attractive and interesting in the moment. 

The problem with shiny object syndrome is that it never gives you enough time to reach any of these types of goals. You are unable to get anywhere because you are repeatedly switching which direction you’re going. This is a common consequence for people who live without setting goals. 

There is neuroscience behind setting goals. The human brain is constantly barraged with billions of information bits from the environment. It is the job of your brain to manage all of this information without overwhelming you. 

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How does the brain select where you turn your attention to and what to overlook? The human brain has a network referred to as the reticular activating system. This system filters out information as it comes into your brain. It automatically moves your attention to the things that are important. 

The reticular activating system is why you can block out the humming of your home’s furnace but react immediately when someone says your name. 

Goal Setting at Work 

Goal setting will help you reach your career goals. If you need to motivate your team, set clear goals. For instance, if you have a project due by the end of the year, then break down the tasks and assign them to different team members. Make sure that you’re available to help your team with the project. Give them feedback as you work through the many tasks. 

When work goals are clear and your team understands their importance, you’ll motivate your team and complete projects on time. Set goals that are challenging but reachable. 

Key Growth Strategies 

Goal setting is a key growth strategy, one that will help you get where you want to go and accomplish what you want to accomplish at your company. If you need help creating goals, contact me at the Productivity Intelligence Institute. 

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Digital Transformation

What Does Digital Transformation Really Mean For Your Company?

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In a company environment, digital transformation refers to embracing digital advancements. Embrace them to develop new, or change current, business operations. Digital change can also be used to modify a company’s culture or update customer experiences. Transformation is needed to meet changing business and market conditions. 

What You Need to Know About Digital Change 

Digital change has a different appearance for every business. Digital change is the integration of digital advancements within a company. When companies make this type of shift, it results in essential changes to how a company operates. It also provides value to its customers. 

Cultural changes require companies to continuously challenge the current situation. To implement digital changes, businesses must experiment with different advancements. They must also become comfortable failing. This may mean retiring long-standing processes that helped build your business in favor of implementing new digital practices. 

Why Digital Change is Important 

There are several reasons why companies bring in digital change. The most common reason is to stay in business. At the start of the pandemic, it became critical for a company to adjust to supply chain issues. Market pressures and sudden changes to customer expectations became equally important. 

Making digital changes will ensure that your company is ready for the next disruption. 

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About Digital Framework 

While digital change is unique to each organization, there are a few common factors. Common digital alterations include: 

• Company culture 
• Leadership 
• Customer experience 
• Operational dexterity 
• Workforce empowerment 
• Digital technology assimilation 

Each business has its own path to travel down. However, it may help to consider shared themes when you begin developing your company’s digital change strategy. 

The Role of Culture in Digital Change 

When company leaders start introducing digital change, the process may wind up shifting around workgroups and changing job titles. This is likely to make workers fear that their value at the company and jobs are at risk. 

Starting a transformation begins with empathy. When you feel genuine empathy, you’ll be able to form trust with your workforce. If your entire organization is not onboard with the transformation, it will be tough to succeed. 

What Inspires Digital Change 

A vital element of digital change is technology. However, it’s usually more about getting rid of outdated processes and antiquated technology than about bringing in new advancements.

Key Trends in Digital Change 

Digital change will help your company prepare for major market shifts and customer demands. A key trend will be to bring in processes that allow your company to pivot effectively. These processes should also help you manage change without impacting any of your customers. 

Key trends in digital change may include: 

• Embracing the cloud 
• Focusing on resiliency 
• Bringing in advancements that support sustainability 
• Technology supported automation of your company’s processes 
• A new focus on managing data 
• Continuing with remote work  

Digital Transformation will Help You Stay Competitive 

Digital change will help your company operate more efficiently. It will also help your organization remain competitive. If you need help, contact me at the Productivity Intelligence Institute. 

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Creating High-Performing Teams

Creating High-Performance Innovation Teams At Scale

High Performing Teams
766 Views

The modern world is changing at a super-fast rate. Sectors like technology, communications, finance, engineering and entertainment are all seeing shifts on a massive scale. These days, creativity is transforming into the currency of success. This includes creatively putting together teams. Here are a few tips on how to create high-performance innovation teams at scale. 

Creating, Assembling and Scaling Teams 

A major component of creating high performing teams is innovation at scale. Leaders must foster the ability to create new value schemes and establish incremental value that will help their organization. 

You’ll need to create value repeatedly to create it at a scale that’s significant enough to provide support for your organization. 

Consider who you’ll be adding to your organization’s teams, what kind of teams you’ll need to assemble and how to scale them. 

About Developing the Culture of High Performing Teams that Innovate 

To develop high performing teams that innovate, take steps to support a positive culture. Focus on areas like: 

• Dependability 
• Dedication 
• Learning 
• Engagement 

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Dependability 

In business, dependability is often overlooked. Companies that don’t have a strong performance management emphasis find it challenging to create consistently at scale.

Dependability means delivering quality work by the deadline, earmarking pledged resources and supporting your workforce when needed. Trust is an essential element. When it isn’t present, employees lack a shared desire to complete each project’s commitments. 

Dedication 

Dedication is another challenge. Innovation teams often struggle to keep team members. This can happen when you’re first developing a team since people may not want to leave their existing role. 

Learning 

Learning is vital to achieving innovation success. New products and services depend on market feedback to produce improvements. Be sure to challenge and support your innovation teams to perfect their operating practices and bring them together effectively. 

Create a safe environment that allows your team members to challenge and support each other. This is a vital part of learning. 

Engagement 

It’s easy to take engagement as a given, but it’s important for managers to focus on its importance. Make sure that your teams have what they need to engage their clients and your full organization. Innovative teams communicate proactively, and they form a narrative around each project. 

Forming an Innovative Culture 

Your workforce is your most important asset, and they communicate with your second most important assets, which are your clients and partners. Your teams are already on the payroll, so use them effectively. With innovative teams, your company will discover new inspirations, create fresh solutions and increase your profits. 

The best way to do this is to make your team feel empowered. Forming an innovative culture is easier than it might seem. To bring in an innovative culture, welcome change. This will ripple down through your innovative teams. It might take time but be patient. 

Creating High Performing Teams 

Creating high performing teams requires you to support your workforce and establish a safe environment where your people can learn. If you need guidance, contact me at the Productivity Intelligence Institute. 

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Cultural Intelligence

Cultural Intelligence For Leaders 

Leadership
770 Views

Why Your Organization’s Leaders Must Have High Cultural Intelligence 

The world is home to thousands of different cultural groups. With the increasing importance of international trade, an entrepreneur is more likely than ever to interact with people from a wide array of cultures. When you communicate with people from different countries, religious groups, and linguistic communities, you want to have a positive experience. Failure to adapt to a multicultural business environment will seriously hamper your organization’s success, so check out these three important ways that leading with high cultural intelligence can improve your organization. 

Stronger Relationships With Clients and Suppliers

People from different parts of the world are going to respond differently to your products, services, and ways of doing business. On a sales trip to Germany, you might benefit from taking a direct approach and getting down to business right away. However, you probably won’t get a good deal if you try this approach when you meet a potential supplier in Argentina for the first time. Instead, you would want to get to know the supplier personally and relax for some time before bringing up anything about a potential business relationship. Refusing to sensitively engage with your customers and suppliers will have dire consequences for your organization, so it’s important to develop good cultural intelligence to avoid wasting time and offending anyone.

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Better Hiring Practices

To bring your company to the top, you need a skilled team of dedicated employees. By adopting more inclusive hiring practices, you’ll be able to reach the broadest pool of talent to find the best professionals in the world. To acquire talent in a particular country or region, you must understand what applicants from that area value in a position and find out where they tend to look for jobs. 

For example, if you want to hire remote workers in India, then you shouldn’t just post positions on American job sites. While offering paid holiday leave for the late-December holiday season might appeal to Western applicants, it won’t be very appealing to a marketing professional in Mumbai who celebrates Diwali with her family in October. To attract the strongest candidates, you must be willing to learn more about potential employees’ cultural norms and values, take a nuanced approach when reviewing applicants, and offer benefits that fit global candidates’ cultural and economic realities.

Greater Workplace Harmony

As an entrepreneur, you benefit when everyone in your company gets along. When your employees come from a wide range of cultural, religious, and national backgrounds, there is some risk of cultural friction. With enough cultural intelligence, you can foresee potential problems and take steps to prevent them before they affect workplace productivity.

Good Intercultural Competence Is Vital in the 21st Century

The importance of international commerce and intercultural cooperation will only grow in the foreseeable future. By adopting strong intercultural competence now, you’ll set your organization up to succeed for decades to come. You need the right skills and knowledge to make your company a global leader in its field, so don’t forget to check out our other useful articles on intercultural competence, entrepreneurship, and agile leadership.

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Cultural Intelligence

Cultural Intelligence For Employees

Cultural intelligence
766 Views

Developing Cultural Intelligence for Your Employees

Several factors are making businesses reexamine how they function in the world. An increasingly diverse workforce means that team members will have different backgrounds and points of view. The expanding global marketplace involves more cooperation between multicultural partners. Leaders and their employees can no longer assume that their way is the only way of conducting business.

The Need for Cultural Intelligence in the Global Economy

In the past, understanding culture involved recognizing the difference between cultural practices. Leaders needed to know when to shake hands, offer a gift, or exchange respectful bows. This information was helpful when meetings with global partners were infrequent. Today, a single remote team might have members in several countries gathering for regular virtual meetings. It is not enough to know a few local customs.

Culture and Perception

Emerging neuroscience shows that cultural upbringing affects the way people perceive the world. Different neural networks light up in brain scans of people presented with the same information. Differences at a neurological level will have practical effects when a multicultural team tries to communicate, problem-solve, or work toward a common goal.

What Contributes to a High CI?

Cultural intelligence is the ease with which a person can navigate a multicultural context. Individuals with a high CI find it stimulating to connect with people different from them. They are comfortable allowing others to lead interactions while they deepen their understanding. Increasing CI requires the development of several soft skills.

Self-Knowledge

The first step in understanding other cultures is acknowledging your own. Understanding how your upbringing affects your view of reality will better equip you to work with others. People with a high CI are aware of their personal biases and blind spots.

Curiosity

Developing this intelligence requires nurturing curiosity. Many people deal with cultural differences by labeling them right or wrong. Intelligence requires acknowledging differences without judgment and learning more about them. A coworker’s way of handling a problem may offer insight into your own process.

Listening Skills

Listening is a sign of respect. Historically, leaders in the West learned to put a premium on self-confidence. Developing CI means stepping back and allowing others to lead conversations. Recognizing a colleague’s rhythms and thought patterns provides a stronger foundation for cooperation.

Adaptivity

People who succeed in a multicultural context recognize that their traditional way of seeing or handling things is not universal. They can adapt their style to make it more comfortable for the people around them, especially when cultural differences create a friction point.

Leading by Example

As a leader, the best way to develop CI in your workplace is to grow and demonstrate it yourself. Create space for team members to describe their perceptions. Demonstrate curiosity by asking questions when appropriate. Be open about mistakes you make along the way. Evolving humility and empathy will help you and your employees navigate this new territory.

Working with a Transformative Partner

There are great changes happening in the business world, and everyone needs help now and then. If you would like a partner for entrepreneurial growth, Productivity Intelligence Institute would be happy to work with you. Contact us today to learn more.

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Artificial Intelligence

Will Artificial Intelligence Kill College Writing?

College Writing
780 Views

If you’ve read any tech news articles lately, then you’ve probably seen claims that artificial intelligence will make people jobless and transform the world. The discussion about artificial intelligence is especially heated in the world of academia, and some educators believe that students will soon be able to use AI to write their essays and complete their coursework. While this might sound great for students, will AI actually progress to such a point? As an entrepreneur, you probably don’t need a computer program to write your term paper, but you should know how AI will affect your organization’s operations, so check out this quick overview of the state of AI and what it could mean for your business.

How Will AI Affect University Students?

New AI programs are great at writing factual articles about simple topics, but the technology is not quite up to the task of writing opinion pieces or making interesting points about complex subjects. Currently, AI programs work by scanning thousands of texts about a topic, identifying key commonalities between them, and producing content that matches the style and tone of what people have fed into the program. This allows AI to write unique content that a plagiarism detector probably wouldn’t flag, but AI programs can’t actually incorporate any new information or opinions about a topic into their content.

Instead, they essentially repeat what others have already written in a new format. While this degree of functionality might be good enough for an AI program to write a short, basic description of something like a well-documented historical event, it would be insufficient for an academic paper discussing the historicity of different accounts of that event. University papers require complex analysis and a lot of nuances, which AI just cannot currently replicate, so students will be stuck writing their own papers for the foreseeable future.

How Will AI Impact Your Workplace?

Emerging AI technologies have the potential to make your workers’ jobs easier by automating mundane tasks. For example, if your organization operates a storefront and needs a high volume of product descriptions, then you can streamline the process by running the descriptions through the right AI writer. Still, you’ll probably need someone to define the project’s parameters and edit the program’s work once it has finished this relatively basic task. No matter what industry you’re in, you should not expect to ever take the human element out of your operations.

How Should Your Company Adopt New Technologies?

Hearing the immense fanfare about AI in the workplace, you might feel like you need to incorporate AI into your organization as soon as possible. However, it’s important not to be too hasty when adopting new technologies. You don’t want to waste your organization’s precious resources, so you need to identify a strong use case, find a product that fits your specific needs, and only purchase technologies from reputable companies that provide sufficient training and customer support.

People and Technology Work Better Together

New AI technologies are not ready to convincingly write a student’s essay or replace the modern worker. However, good AI programs can greatly augment an employee’s abilities and improve their workplace performance. You always want to stay updated on the ever-changing role of technology in the workplace, so make sure to check out our other guides on AI, workplace efficiency, and entrepreneurship.

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Growth Strategies Uncategorized

How Do Affirmations Work?

Affirmations
787 Views

If you’ve read a self-help book, it probably advised you to perform daily affirmations. Most people are familiar with positive affirmations, but if you haven’t used them, doing so may seem awkward. Telling yourself that you are amazing might be weird, but it can help you feel more positive. Affirmations are one of the principles of success. Here’s how they work. 

What are Positive Affirmations? 

Positive affirmations are positive declarations that people use to counteract negative or useless thoughts. Practicing positive affirmations is easy. The only thing that you need to do is select a phrase and repeat it in your head. 

There are many reasons to use positive affirmations. For instance, you can choose one for: 

• Motivation
• Encouraging positive life changes 
• A self-esteem boost 

If your go-to is negative self-talk, reset this subconscious pattern with positive affirmations. 

The Psychology that Supports Positive Affirmations 

One of the main theories that supports positive affirmations is the self-affirmation theory. Researchers have conducted studies testing the theory that humans can maintain their sense of self-integrity using positive self-talk. 

Self-integrity is a person’s apparent ability to manage moral results and respond appropriately when it’s being threatened. 

There are three main pieces that support self-affirmation theory. The first one is that when a person uses self-affirmation, they’ll maintain a comprehensive narrative about themselves. Under this section of the theory, people are moral, flexible and able to adjust to different situations. 

The second piece of the theory is that your ability to maintain your self-identity does not require perfection. Instead, you need to see yourself as competent and satisfactory in the areas of your life that you value. 

The third part of the theory is that people maintain their self-integrity when they act in positive ways. When you’re using a self-affirmation, you aren’t saying a phrase like “I am a good instructor” because you want praise. You’ll be saying it because you desire that type of praise for actions that are in line with one of your personal values. 

Tips for Making Your Positive Affirmations Effective 

Positive affirmations are often effective in the workplace. This is especially true of hybrid workforces. You can use them to help your employees manage their insecurities and negative thought patterns, helping them reach better work results. 

Consider sharing positive workplace culture quotes. Don’t use these quotes at random. Make sure that you know how to use positive workplace culture quotes. The best time to use these kinds of quotes is when you’re setting new work goals. 

Implement positive affirmations at the beginning of each work week. This could help both you and your staff feel more self-assured about the next project. 

While you might not be able to get rid of the Monday blues, positive affirmations are the perfect way to inspire your workforce. Affirmations may even inspire your workers like coffee does. They could energize your staff and help them focus on their week. 

Personalizing Your Personal Affirmations 

Principles of success include embracing personal affirmations. Create a personal affirmation that speaks to your management style. If you need help developing one or guidance on how to use your personal affirmations consistently, contact me at the Productivity Intelligence Institute. 

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Growth Strategies

Goal Setting Can Motivate Performance

Goal Setting
675 Views

Setting Goals to Improve Performance

Smart entrepreneurs are always searching for growth strategies that will benefit their businesses. Working toward goals has been popular since Edwin Locke suggested the Goal-Setting Theory of Motivation in the 1960s. Continued research has improved the application of this technique and developed a body of best practices for goal setting in the workplace.

How Goal-Setting Improves Performance

In the brain, working toward goals involves the intersection of motivation and will. A well-structured objective promotes something that would not happen without extra effort.

Attaining a goal stimulates the dopaminergic reward system, giving a sense of pleasure. This reward process is powerful enough that the brain will rewire itself to focus on attaining the goal.

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Choosing the Right Type of Goal

The sense of reward that comes with attaining a goal requires starting with the right objective. Trying to make goals out of routine tasks is rarely successful. Instead, workplace goals should be clear, challenging, and purposeful.

Specific and Clear

It is easier for employees to work toward a successful outcome if they can visualize it. Goals should be concrete and measurable. Specificity allows employees to develop strategies for attaining goals and offers benchmarks to measure progress.

Challenging but Attainable

When you assign a goal, it should reflect your understanding of the capabilities of the employee. A well-designed goal will not be out of reach but should involve some stretching. The challenge of a task is part of what creates interest and focus.

Mission-Oriented and Purposeful

You should be able to relate goals to the overall purpose of your business. Feeling like they are contributing to the business’s success gives them greater ownership over the task. The goal is no longer just about a personal challenge. It also benefits the broader organization.

Supporting Your Team’s Goals

As a manager, you have more to do than designate goals. You will want to keep track of progress and offer support that will lead your team to success.

Set the Stage for Success

Failure is one of the risks of goal-setting. If meeting the goal becomes too complicated or stressful, it can hurt morale. Just as success leads to a sense of reward, failing to meet an objective feels like a penalty.

You want to know your team members have the resources they need for a successful outcome. This preparation may include investing in upgraded software or making training available to improve skills.

Offer Meaningful Feedback

Objectives that deserve to be formal goals will take time to achieve. Offering regular feedback to your staff shows that you are paying attention. It also provides an opportunity to evaluate progress, discover friction points, and make plans to alleviate them.

The Power of Choice

A sense of autonomy is critical in successful goal-setting. Employees are more likely to stay engaged with the challenge if they feel like they could choose to accept it. When a goal becomes another assignment, the staff will treat it as routine work.

A Partner for Entrepreneurial Growth

Productivity Intelligence Institute seeks to help entrepreneurs develop and implement growth strategies for success. If you need help achieving your business goals, contact us today.

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Growth Strategies

Can A Growth Mindset Be Taught

Growth Mindset
733 Views

Seven Steps for Promoting a Growth Mindset at Your Business

Many organizations operate from a fixed mindset. They hire employees to fill specific roles with little or no expectation of change. One of the most effective growth strategies involves moving from this static model to embrace a culture centered on progress.

A growth mindset assumes that improvement is always possible with enough effort and practice, a natural fit in the entrepreneurial world. Workplaces that focus on positive evolution will be more creative and productive. However, developing a growth mindset takes intentional action.

1. Embrace Challenges

A growth-centered workplace recognizes that challenges promote engagement. As a leader, you can set goals for individuals and teams that require extra effort. This goal-setting process must be well-planned. You want to set objectives that are hard enough to cause some frustration but not so difficult that they become demoralizing.

The people who find the greatest success in life and those who achieve their dreams certainly have one thing in common. They know how to attract the resources they need to succeed.

2. Encourage Curiosity

As employees grow in their skills and knowledge, they may see new ways to handle old problems or new directions for the organization. Allow this curiosity to inspire creative solutions. You never know where the path might lead.

3. Acknowledge Effort

The growth mindset takes advantage of the neuroplasticity of the brain. Challenging tasks and novel ideas form new neural connections and expansion. When employees struggle to reach their goals, they are expanding their minds. The process becomes as important as the goal in a growth mindset culture.

4. Offer and Accept Feedback

Meaningful feedback is an essential part of developing a growth culture. People with this mindset are not averse to constructive criticism. They know that your observations will help them improve.

As a leader, you must also be willing to accept feedback from your staff. A growth mindset culture breeds creativity, and you may be surprised at the insights your employees bring when they look at the organization from a different point of view.

5. Model Graceful Failure

A real challenge runs the risk of failure. Your staff will look at your example to see if they are truly free to make mistakes as part of the process. If you panic when something goes wrong, it will limit the potential for growth in the organization. Employees should accept failure as an opportunity to evaluate and develop new strategies.

6. Praise the Process

The growth mindset takes a holistic approach to project management. The steps along the way to successful completion are also platforms for learning. When a project is done, the team should examine the entire process to look for friction points and see how they might become more efficient.

7. Celebrate Growth

When you see signs of growth, acknowledge the effort and share the news. Your people should know when a staff member develops a new skill or accomplishes a goal. Creative people in the organization will find new ways to put these abilities to good use.

Your Partner for Entrepreneurial Growth

The growth mindset is one of several growth strategies we promote at the Productivity Intelligence Institute. Our goal is to help entrepreneurs improve their organizations and gain success. If you need help taking your business to the next level, feel free to reach out to us.