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21st Century
Business Model
Laurel Gregory
Business Consultant-Living In Your Light
Director of Product Management-Starkey Labs
952-994-6947
Livinginyourlight.com
Laurel@livinginyourlight.com
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SO, What IS the
Century
Business Model?
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„ Is
your vision one that
excites and engages your
team to “passionate
performance”?
„ Are
your values an
integral part of decisionmaking on a day to day
basis?
„ Is
your culture a
competitive advantage ?
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Purpose
Passion
Culture
21 Century Business Model
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Business Success
„Companies
that focus
on these areas create
sustainable success
over time.
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Building the model
Vision
Passion
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Purpose
Culture
Core
Values
Employees
Engagement
& retention
by uniting
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Building the model
Vision
Passion
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Purpose
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Vision
„
Who has a vision?
„
Who has a mission?
„
What is the difference—
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Purpose
“You may not think you can change the Whole World that we
live in (and you may be wrong) but you can certainly change
the world---small w---that you and yours live in: the world of
your company, the world of your employees, the world of
your industry, or the world of your family. To deny that is to
deny your capability as a human being.”
The Radical LEAP:
A Personal Lesson in Extreme Leadership
By Steve Farber
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Passion
„ What
drives you?
„ What
do you love doing?
„ What
makes you Monday mornings
wonderful?
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PURPOSE & PASSION:
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PURPOSE & PASSION: TOMS Shoes
One for One
Blake Mycoskie
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Exercise:
Vision—your UNIQUE VALUE
„Lets
start on a clean palette
„Think
about what purpose you would
like to fulfill (how are you going to
change the (w)orld?)
„Think
about what YOU feel
passionate about
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Building the model
Vision
Passion
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Purpose
Core
Values
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Vision
Core Values
Core Value
B
Core Value
A
C
Core Value
Vision
Core Value
E
D
Core Value
+ Vision
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Core Values
Tony Hsieh
Product
Management
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Vision example: Zappos
Delivering Happiness
To the World
Tony Hsieh
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Vision: Zappos
„ As
CEO of Zappos.com, he grew the
company from inception in 1999 to selling
it to Amazon.com for 1.2 billion in 2009.
Tony Hsieh
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Vision
Core Values: Zappos
Delivering
Happiness
TO THE WORLD
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Vision
Core Values: Zappos
Embrace and
Drive Change
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Delivering
WOW
Through
Service
1
Pursuing Growth
& Learning
3
Create Fun
and a Little
Weirdness
Delivering
Happiness
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4
Be Adventurous,
Creative and
Open-Minded
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Vision
Core Values: Zappos
Build a Positive Team
and Family Spirit
Build Open an
Honest
Relationships
with
Communication
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6
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Do More
with Less
Delivering
Happiness
Be Humble
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Be Passionate
and Determined
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Zappos
„
“As we grow as a company, it has become more and more
important to explicitly define the core values from which we
develop our culture, our brand, and our business strategies. “
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Vision example: Starkey’s Product
Management
Define, develop and deliver innovative
hearing solutions.
Changing lives in 3D.
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Vision
Core Values: Product
Management
Working together
Communicating
clearly and honestly
Advocating for
Patients and
Professionals
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2
Being
creative
4
1
5
Changing
lives in 3D
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Having fun at work
7
9
Accepting change
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Being curious
Continuing
to learn
Challenging and
supporting each other
Embracing diverse viewpoints
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Exercise:
Identify your Core Values
„ What
is important to you to deliver your
VISION
„ What
core values make up your business?
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Next Step:
Employee
Engagement &
Retention
„Our
company has a
clear unique value
(Our VISION) and
we’ve identified our
core values. How do
we engage and retain
our employees?
Fostering CULTURE!
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Building the model
Vision
Passion
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Purpose
Culture
Core
Values
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Culture
Culture definition: Encarta Dictionary
„
Shared beliefs and values of a group
„
„
People who share beliefs and practices
„
„
the beliefs, customs, practices, and social behavior of a particular
nation or people
a group of people whose shared beliefs and practices identify the
particular place, class, or time to which they belong
Shared attitudes
„
A particular set of attitudes that characterizes a group of people
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Core Values
„ We
Culture
make time for your Family
"Creating Family Traditions, One
Family At A Time”
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Core Values
Culture
Delivering Happiness
to the World
http://about.zappos.com/our-unique-culture/zappos-core-values
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Building the model
Vision
Passion
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Purpose
Culture
Core
Values
Employees
Engagement
& retention
by uniting
+ Who is in the Workforce
Boomers
„
Eventually baby boomers will leave
the workforce. Since there simply
aren’t enough talent to take their
place, providing meaningful work
to retain the best talent is critical
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Generation Y
„
Generation Y is demanding they are
passionate about the work they do –
it has to be meaningful for them to
fully invest their energy in an
organization.
+ “Meaning” More Important Than Pay
„
More
meaningful
work
„
„
Sacrifice
status &
pay
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51% of workers worldwide said
they would sacrifice status and
pay to have more meaningful
work!
Worldwide study of 100,000
people was conducted in 34
countries focusing on the
meaning of work.
In November, 2008 – January, 2009
(in the midst of recessionary time)
The Kelly Global Workforce Index, sponsored by Troy, Mich.based Kelly Services. Study conducted in North America,
Europe, Asia-Pacific.
+ Other Benefits of Increasing Employee
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Engagement
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Engaged Employees have been shown to…
„
Have a strong, positive effect on customer engagement
„
Grow in their ability to positively affect customers
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Be more likely to find creative ways to solve problems and suggest ways to
improve management or business processes
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Be more likely to be open to new ideas and innovations from management
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More likely to respond positively from ideas and suggestion from their coworkers
„
Have a stronger tendency to create a friendly, more inviting work environment
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The Coming Crisis in Audiology
by Barry Freeman
This next decade will look like:
„
Increase demand in services (good for business…)
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Number of Audiologist projected to graduate: 5500
„
Number of Audiologist projected to retire: 6000
Dr. Freeman’s prediction:
We have a crisis coming!
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Next Step:
Employee
Engagement &
Retention
„Our
company has a
clear unique value
(our VISION) and
we’ve identified our
core values. How do
we engage and retain
our employees?
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Exercise:
Identify ways to encompass your
core values
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Passion & Purpose
It’s Top Down and
Bottom Up
„
Help the team understand your
company’s VISION—what you are
passionate about and what your
purpose is!
„
Define, with elegant simplicity that
ignites passion, what matters most
for the team to deliver its
contribution to that Unique Value.
„
Show the team members how to
identify their own Work Passions
„ Create
If you are to harness the
passion of the team, you
want to start by learning
what those passions are.
alignment between
the team members’ passions
and the Core Values of your
company
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How will you change the world?
Family
Community
The World
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Laurel Gregory
Business Consultant-Living In your Light
Director of Product Management-Starkey Labs
952-994-6947
Livinginyourlight.com
Laurel@livinginyourlight.com