In the Leadership and Communications segment, How our brains decide when to trust, Warren Buffet’s “2 List strategy, Lack of IT leadership fuels IoT trial failures, and more!
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- CIO interview: Simon McNamara, chief administrative officer, RBS Group – Brought in after a catastrophic IT failure that affected 6.5 million customers, the IT chief at Royal Bank of Scotland Group says the bank is now a leader in innovation. The four key areas of transformation: resilience, simplification, efficiency and innovation. Using business change to generate new opportunities, including Mettle, its digital bank for small businesses, and mobile banking. “The only way you’re going to survive is by being in the mix and trying things, says McNamara. “My advice to other finance CIOs is to be in the mix, try some stuff and work with other partnerships.”
- Warren Buffett’s “2 List” Strategy: How to Maximize Your Focus and Master Your Priorities – This simple three step process to prioritize yours goals:
- Write down your top 25 career goals.
- Circle your top 5 goals.
- You now have two lists: “A” list with top 5 goals and “B” list with other 20 goals. Focus on “A” list and avoid “B” list at all cost!
- HOW OUR BRAINS DECIDE WHEN TO TRUST – Human brains have two neurological idiosyncrasies that allow us to trust and collaborate with people outside our immediate social group (something no other animal is capable of doing). The first involves our hypertrophied cortex, the brain’s outer surface, where insight, planning, and abstract thought largely occur. The second idiosyncrasy is empathy, our ability to share people’s emotions. To trust someone, especially someone unfamiliar to us, our brains build a model of what the person is likely to do and why. That means humans are constantly engaged in a two-sided trust game: Should I trust you? and How much do you trust me? As social creatures, we naturally follow leaders and model our behavior on theirs. The influence they have means they can easily sabotage trust in two key ways: by stoking fear and wielding dominance.
- Efficiency vs. effectiveness in business: Which comes first? – Operational efficiency gains do not equate to operational effectiveness. In the quest to cut costs, companies are often blind to the difference between operational efficiency vs. effectiveness and the impact of one metric on the other. Indeed, statistics show that current implementations of automation, unless carefully designed, can cause serious problems.
- Lack of IT leadership fuels IoT trial failures – Many companies experience failure at the proof-of-concept stage of internet-of-things (IoT) projects, a study of 3,000 decision-makers has found. The results are:
- Only 7% had experienced no proof-of-concept project failures
- 32% had a low rate of failure in trials and proof-of-concept projects
- 31% had experienced a moderate level of failure
- 30% estimated that between half and all of their proof-of-concept projects had failed
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