Two young financial analysts make good money in the hedge fund business and decide to give a chunk of it away to some worthy humanitarian cause. The only problem: How to give effectively?
When Elie Hassenfeld, now of the San Francisco-based nonprofit GiveWell, faced that dilemma a decade ago, he and his fellow Ivy League grad Holden Karnofsky were frustrated by the paucity of data on charitable effectiveness in the public domain. So they started cold calling charities from the trading floor, asking questions that charities are not used to answering.
Technology “is the enabler of virtually any strategy, whether by providing the big data analytics that reveal new ways to reach new customer groups, or the Internet of Things connections that enable a whole new profit center in after-sale support. Top leaders need to know what technologies can do and how to bend it to their strategic goals. Leaders cannot wait until technologies are fully baked to think about how they will work for – or against – them. And sometimes companies will need to disrupt their own business models before a rival or new competitor does it for them.”
This excerpt from a recent research paper published by the McKinsey Global Institute makes the point that new IT models require more explicit alignment to business strategies, and therefore, require a mature vertical industry go-to-market strategy that parallels IT innovation.
Leaders aspire to build ever more nimble and responsive businesses while seeking a competitive advantage in a global economy. Today’s successful leaders must not only be strategic thinkers, but innovators as well. And the successful leaders of tomorrow must be able to drive organizational innovation by tapping into the knowledge and creativity of their teams. Innovation is often the key driver of an organization’s growth and performance. It can be the single best way for a company to differentiate itself from competitors. How can we help foster a culture of collaboration and creativity to help drive growth and success? Fostering connectivity, first and foremost amongst other things, promotes creativity and spurs innovation.
How can employers mitigate the escalating costs of health care while providing a benefits program that meets the needs of their employees? By becoming data rich and making data analytics meaningful to their workforce.
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