Croixstone Consulting – Page 28

What You Need to Know About Social Enterprises

On April 16th, Social Venture Partners Charlotte (SVP) will host the annual SEED20 program which identifies, highlights, and connects the community to twenty of the region’s most innovative ideas for tackling pressing social challenges. In today’s business world, nonprofits are not the only ones concerned with being integrated into the social fabric of society. Earlier this week, Forbes ran an article titled the “The Rise of the Social Enterprise: A New Paradigm for Business” which illustrates that businesses today need to make a shift in management in order to be more integrated into the social fabric of society.

Social enterprises are revenue-generating businesses with a twist. A social enterprise has two goals that are equally important:

Achieve social, cultural, community economic and/or environmental outcomes
Earn revenue

In the Forbes’ article, a yearlong research and survey of business and HR leaders by Deloitte revealed that “citizenship and social impact” were rated critical or important by 77% of respondents.

One of the trends identified is that companies today must be “social” in a truly external sense, and one of the biggest challenges is that C-suite executives are not operating or organized effectively to deal with the new world of economic growth and technology revolution while effectively addressing diversity, inclusion, fairness, equity at work and more.

There are two dimensions to the evolution of social enterprise.

Moving from an organization which operates as a functional hierarchy to one that operates as a “network of teams.”
Each part of the company looks at the impact of external factors and the company’s footprint in the external world.

Click here to read more about the new paradigm shift for businesses addressed in the article and click here to learn why social enterprise can be a win-win for companies.

Biotechnology And Its Applications

Another core technology altering nearly every dimension of our lives as outlined in a recent MIT Sloan Management Review article is biotechnology. Biotechnology is really the combination of technology, chemistry, and life sciences. At first glance, many business leaders may believe that biotechnology only impacts the health care field. The rapid advances in biotechnology, however, show enormous promise and have the potential to “both expand existing industry boundaries and create entirely new industries,” according to Dr. Albert H. Segars, author of the article and PNC Distinguished Professor of Strategy and Entrepreneurship and Faculty Director of the Center for Sustainable Enterprise at the University of North Carolina Kenan-Flagler Business School.

Biotechnology Applications

Industrial Processing – applications in product development, pollution control, bio-recycling, and hazardous waste.
Biometrics/Bio-identification – expanding the use of biomarkers as a gateway to information access and commerce.
Bioinformatics – analysis of large sets of data used in the Human Genome Project, Disney’s theme park design, and more.
Medical – advancements in the field of genomics, production of vaccines, antibiotics, gene therapy, and personalization of implantable devices.
Food & Agriculture – significant gains in the production of plants, improved quality of livestock, pest-resistance crops, nutrient supplementation, and manufactured power fibers.
Energy – alternative energy sources, production of biofuels from algae and other plant and waste sources.

Click here to read the entire MIT Sloan Management Review article.

Pervasive Computing 101

In a recent MIT Sloan Management Review article, Dr. Albert H. Segars from University of North Carolina Kenan-Flagler Business School outlined seven core technologies that are altering nearly every dimension of our lives and their implications for commerce, health care, learning, the environment and more. According to Dr. Segars, pervasive computing is one of the core technologies that every business leader should become familiar with as the digital revolution rages on.

Pervasive computing, also called ubiquitous computing, is a concept where information, media, context, and processing power are delivered conveniently to us in all kinds of things. The Apple Watch’s ability to alert users of incoming phone calls and to allow users to complete calls through the watch, is an example of pervasive computing. The large network of connected microprocessors embedded in everyday objects allows access to information from virtually anywhere and at any time.

First pioneered in the late 1980s at the Olivetti Research Laboratory in Cambridge England, the development of the “Active Badge“, a small clip-on microcomputer employee ID card, enabled the company to track employee movement. This spurred articles by the The New York Times, ComputerWorld and other publications about George Orwell’s Big Brother prediction coming true.

Mark Weiser, considered to be the father of ubiquitous computing, soon began building early ubiquitous computing devices with his colleagues at Xerox PARC and popularized the term “pervasive computing” with the creation of IBM’s Pervasive Computing division.

Today, pervasive computing generally involves wireless communications and networking technologies, mobile devices, embedded systems, wearables, wireless sensors, voice recognition, AI and more. According to a recent study report published by Market Research Future, the global market of pervasive computing technology is booming and expected to gain prominence. Technology advancements and the increased demand for Internet of Things (IoT) continue to drive the growth.

Application of Pervasive Computing Technology:

Communications
Logistics
Transportation (by air, land and sea)
Energy
Learning
Military
Banking/Finance
Production
Smart Homes
E-commerce
Security & Safety
Healthcare/Medical Technology
Media

To learn more, read:

Happy Pi Day!

For those of us who love numbers, we know the significance of today…it’s Pi Day! What makes pi (π) so special? You may recall from your days in school that pi is the ratio of a circle’s circumference (the distance around the circle) to its diameter (the distance across the circle at its widest point), and the digits of pi never end and never show a pattern. Some of us even memorized the starting digits of pi, 3.14159265359…

Due to its connection to cycles and its involvement in equations relevant to circular or harmonic motion, pi is used every day in billions of computations, from large-scale supercomputers simulating the earth’s climate to the mechanics behind your ability to talk on your cell phone. Here are just a few of the areas where pi is used:

Normal Probability Distribution – Sometimes referred to as the bell curve, normal distributions show up in nearly every specialized field of study — finance, medicine, physics, engineering, etc. — and is applicable to a wide range of natural phenomena such as standardized test scores, lifespan of a product, rolling of dice, and tracking of population dynamics.
Signal Processing & Spectrum Analysis – Pi is found in sine waves, used for signal processing in sound and light waves. Watching tv or listening to the radio, taking an ultrasound of a baby in the womb, and studying the behavior of ocean waves all involve the use of pi. Your cell phone technology uses pi when communicating with a local cell tower.
Other Applications – The design of clocks, the skin of an airplane, GPS navigation, the make-up of your DNA, the construction of arches, bridges and buildings, and the rhythms of sleep and wakefulness that govern our bodies can also all be determined or described using pi.

There is an endless number of applications of pi. Even though we can’t see pi, it is at work in the world around us each day.

Happy Pi Day from Croixstone Consulting!

Seven Business Rebel Beliefs

Croixstone is proud to represent an exclusive group of highly-experienced business mavericks who enjoy tackling industry challenges. Our group of rebel talent, also known as “constructive non-conformists,” understands the importance of questioning the status quo and has the people skills to work with others to advance ideas for change. Recently, Inc. ran an article titled “7 Beliefs Business Rebels Hold That Disrupts Their Competition.” S.C. Gwynne, New York Times bestselling author of The Perfect Pass, explained the seven beliefs as follows:

Play Simple. A winning team doesn’t necessarily rely on complicated “plays” or on the quantity of them. Instead, insist on keeping your playbook simple. Simplicity is memorable.
Redefine Boundaries. Don’t accept the conditions in which you work as a given. If you need to move the lines on the playing field, then do it.
Redefine Expectations. Evaluate the “rules” that everyone follows and find leverage points to pivot away from tradition and create new expectations.
Believe in Greatness. No matter your track record or the obstacles in your way believe that great outcomes are possible. People perform to the expectation levels you set.
Look to the Past to Change the Future. While rebels defy conventional wisdom, they also study the past to learn trends and patterns that can change the future.
Be Persistent. Steadfast in their resolve, rebels internalize their purpose. This helps them to stay persistent despite the temptation to back down or dial back their ambition.
Believe in People. A business is nothing without the commitment and resolve of its people. Invest heavily in your talent.

Do you hold these same beliefs? If yes, reach out to Patti Weber, our Chief Experience Officer, at pweber@www.croixstone.consulting!

Don’t Be a LinkedIn Dinosaur

LinkedIn is a powerful tool for today’s consulting professional. That said, the world’s most popular social networking site for professionals is evolving and transforming at lightning speed. Here are four of LinkedIn’s latest features to keep you in the know…and stop you from becoming a LinkedIn dinosaur!

LinkedIn Search – has been updated with redesigned functionality and features to help deliver more relevant results.
“Connections of” Filter – use your extended network to search connections of your connections through the Connections of filter and find people who work in a specific industry, location or company.
LinkedIn Video – pictures tell a 1,000 words. Learn how to use LinkedIn Video to share your experience and perspectives.
Active Status – you can use LinkedIn’s “green dot” feature to learn who in your network is online and potentially available to communicate with you.

Blockchain Simplified

Croixstone‘s CXO Patti Weber recently participated in Skookum‘s largest Tech Talks to date. Josh Miller, Senior Software Engineer at Skookum, provided insight into blockchain technology and the uses beyond Bitcoin and cryptocurrency. The original blockchain was described in a 2008 bitcoin paper by Satashi Nakamoto, just 2 months after the collapse of Lehman Brothers in 2008. What makes blockchain so attractive is that it provides a level of trust that is interwoven in business transactions. People can now make transactions without middlemen which translates to greater control of funds and lower fees.

So, what is a blockchain? A blockchain is a digital encrypted ledger in which transactions are recorded chronologically and publicly. Like the name indicates, a blockchain is a chain of blocks containing information. Each block contains data, the hash (i.e., digital fingerprint that uniquely identifies the block and all the contents), and the hash of the previous block. When a block is created, a copy of the block is distributed on a peer-to-peer (P2P) network. Each member of the P2P network gets a copy of the block, and a consensus is obtained to ensure that the chain has not been tampered with.

The way the blocks are chained together using hashes, along with a “proof of work” mechanism and distribution through a P2P network, makes blockchains secure and trustworthy. The term immutability – its resistance to tampering or other changes – is often used when describing blockchain.

Blockchains eliminate the need for middlemen (e.g., banks) making it more efficient than legacy systems. They exist within communities, and participants that operate within an industry can all operate on the same chain, and therefore, have a copy of the distributed ledger.

Applications of Blockchain

As a result of the tamper-proof and hack-proof nature of blockchain, it is one of the most promising technologies with far-reaching applications. Here are just a few of the industries that are/will be impacted..

For a more detailed explanation of blockchain, see CNET’s recent article titled Blockchain explained: It builds trust when you need it most.

For more information about industries impacted, check out: Banking Is Only The Beginning: 36 Big Industries Blockchain Could Transform

Consulting Industry Outlook 2018

It’s a good time to be in the consulting world! According to the recently released Consulting Magazine’s 2018 Executive Outlook report, the theme for the consulting industry this year is “Let the Good Times Roll.”

The positive economic momentum + recent corporate tax cuts equal an “upbeat and bullish forecast” for the consulting industry. As result, the industry remains strong and firms are in the “midst of a hiring frenzy” to get the work done. Below is a high-level overview of the results in the report:

97% of leading consulting firms surveyed experienced real revenue growth over the last 12 months.
98% of executives are forecasting growth in 2018, and 94% are saying that growth will exceed 6%.
95% of firm leaders anticipate net profits will improve, and 62% of the firms predict net profits will be up more than 10% in 2018.

The survey was conducted in the latter part of 2017 with more than 130 Managing Directors, Partners and Vice Presidents participating. To read the full 2018 Executive Outlook, click here.

Seed20 OnStage!

Martin Luther King Jr. once said, “Life’s most persistent and urgent question is, ‘What are you doing for others?'” Today, we focus on an upcoming event dedicated to those in the Charlotte community that are “doing for others” each and every day…SEED20 OnStage!

SEED20 is the annual program of Social Venture Partners Charlotte (a nonprofit organization) to identify, highlight and connect the community to the region’s most promising social entrepreneurs tackling pressing challenges.

Croixstone’s Mark Weber is serving as the Lead Partner for this year’s powerful program, best known for its high-energy SEED20 OnStage event where ten members of the SEED20 class compete to win cash awards by making three-minute “pitches” to a panel of judges and a community audience.

This year’s event takes place at the Bechtler Museum and Knight Theater in front of an audience of 1,000 guests on April 16, 2018. We invite you to view the SEED20 video and website to learn more.

Tickets for the event are now on sale. To purchase tickets, Click Here

2018: The Year of Professional Courage

With months of revelations about sexual harassment and abuse of men and women across industries, we encourage you to make 2018 the year of professional courage. Guest blogger, Tony Armeni, shares his insights below.

What are we to think of all the news about workplace behavior, and particularly sexual harassment, in the media of late?

I am sure you have read and heard every possible angle about the individuals, situations, causes, explanations, and even excuses. Who knew? When did they know? How could this be?

The one thing I have heard little about is accountability. Do we really need more training and clarifications from attorneys about the definition of sexual harassment? Do we need more value statements about integrity and transparency? The answer is NO! It is time for human resource leaders, and their executive peers, to step up and start holding their organizations and individuals in them accountable for behaviors that are in clear violation of the policies and training that they have already established. Enough about all the grey areas, misinterpretations, consensual this and that and all the other excuses. We know what this looks and sounds like. We know what the right thing to do is. Now we need to start doing it.

No more separating the offender from the accuser, rationalizing how you can’t afford to lose the star performer, implementing mutual separation agreements for the accuser and so forth. Let’s eradicate the innuendo and foul language, jokes, inappropriate remarks and other behaviors that create a culture of tolerance and acceptance.

It is important to make sure our policies on workplace behavior and sexual harassment are well communicated and that we have trained everyone in our organizations. We must take every complaint seriously and investigate thoroughly. Once all the facts are known, we must do the right thing, regardless of who the violator might be.

Merriam-Webster defines courage as the mental or moral strength to venture, persevere, and withstand danger, fear or difficulty. Get an early start on your new year’s resolutions and begin now to demonstrate professional courage and start leading your organization’s accountability crusade. Let’s make 2018 the year of professional courage.

About Our Guest Blogger

Tony Armeni, MBA, SPHR and SCP, is a senior consultant in Croixstone’s human capital practice. With extensive experience in diverse industries, cultures and environments (including Fortune 200 companies), Tony has delivered high-impact results to support the business objectives, change initiatives and leadership development activities at companies including SCOR, Joerns Healthcare, Sompo Japan, CSX World Terminals and more. Tony offers deep expertise in helping organizations navigate through sexual harassment complaints, investigations and training.

Are you ready to make 2018 the year of professional courage? For a confidential discussion, contact Mark Weber, Managing Partner, at (980) 263-0234 or by email at mweber@www.croixstone.consulting

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