Archiv der Kategorie: Corporate Culture

The Top 100 Brands for Millennials

Millennials make up a crucial group of consumers. Ad agency Moosylvania asked over 3,500 millennials — defined as 20 to 35-year-olds — to select their favorite brands over the past three years. Great Questions, LLC helped rank the winning brands. These brands are the ones that came out on top. Some are surprising — others, not so much. A common theme for successful brands? Engaging with millennial consumers via social media.

100. Audi

100. Audi

Robert Libetti/ Business Insider

Headquarters: Ingolstadt, Germany

Place on last poll: Not applicable (*Note: Moosylvania’s previous poll from spring 2015 only contained the top 50 brands for millennials.)

Why it’s hot: Audi used a mobile app to connect with its users during the 2015 Audi Cup, allowing users to be parts of the experience.

 

99. Subaru

99. Subaru

Subaru

Headquarters: Tokyo, Japan

Place on last poll: N/A

Why it’s hot: Subaru’s Winterfest integrated an entire winter culture to go with the brand. It gave Subaru owners perks such as free snowboarding clinics —  and more. This helped the brand develop a different kind of image — one with the outdoors and adventure — which can be appealing to millennials.

98. Nestle

98. Nestle

REUTERS/Brendan McDermid

Headquarters: Vevey,  Switzerland

Place last poll: 34

Why it’s hot: Nestle’s Nescafe created „social art“ in Croatia by placing its red mugs all over the city. This, Moosylvania says, appealed to millennials. Nestle also manufactures many popular candies.

97. Johnson & Johnson

Headquarters: New Brunswick, New Jersey

Place on last poll: N/A

Why it’s hot: The „ACUVUE 1-DAY Contest“ allowed users to meet with popular celebrities and receive a brief mentorship. This has helped the brand cater to millennials, and not just be known as a producer of baby powder.

96. DC Shoes

Headquarters: Huntington Beach California

Place on last poll: N/A

Why it’s hot: DC Shoes is about cultivating a skateboarding lifestyle. Additionally, the brand engaged its audience by with its #TraseYours campaign, wherein the Talenthouse community of artists were able to design shoes for chances to win cash prizes. Better yet, the winning design had the chance of being produced by DC Shoes.

95. Carter’s

95. Carter's

Instagram/Carters

Headquarters: Atlanta, Georgia

Place on last poll: N/A

Why it’s hot: The Carter’s website proves that the brand has nailed ecommerce. In fact, the brand has mastered social media. Therefore, Moosylvania found that it’s very appealing to millennial parents who want to share photos of their babies (wearing Carter’s apparel, no less) with its hashtag #lovecarters. Carter’s features those photos of adorable tykes on its website, too.

94. Calvin Klein

94. Calvin Klein

Calvin Klein Facebook

Headquarters: New York, NY

Place on last poll: N/A

Why it’s hot: Calvin Klein utilizes popular celebrities for its campaign. It also is savvy when it comes to the social sharing culture — its #MyCalvins campaign has successfully capitalized on that.

93. Axe

93. Axe

Axe

Headquarters: Unilever N.V. Rotterdam, Netherlands

Place on last poll: N/A

Why it’s hot: Axe’s #KissForPeace campaign — and its corresponding ad — were right in line with Axe’s signature tone. It also engaged Axe’s consumers with the nonprofit organization, Peace One Day, and millennials love when a company supports a cause.

92. Subway

92. Subway

Flickr/Bubby

Headquarters: Milford, Connecticut

Place on last poll: N/A

Why it’s hot: Subway has long reigned supreme when it healthy fast food, but recently, Chipotle has dethroned the chain. The chain lost a lot of clout when Jared Fogle, the brand’s former spokesperson, was associated with child pornography.

91. Jeep

91. Jeep

Thomson Reuters

JEEP GRAND CHEROKEE AT NEW YORK AUTOMOBILE SHOW.

Headquarters: Auburn Hills, MI

Place on last poll: N/A

Why it’s hot: Jeep engaged with its consumers with its Endless Jeep Summer campaign, wherein Jeep owners submitted videos to Vine and Instagram.

90. Anthropologie

90. Anthropologie

Anthropologie

Headquarters: Philadelphia, Pennsylvania

Place on last poll: N/A

Why it’s hot: Anthropologie is Urban Outfitter’s finely curated and refined sister brand, so it makes sense that the brand chose to engage with its consumers via Pinterest, the social channel that’s all about curation, with its #PintoWin contest.

89. Publix

89. Publix

brownpau/flickr

Headquarters: Lakeland, Florida

Place on last poll: N/A

Why it’s hot: Publix’s app has simplified shopping. An easier shopping experience is more crucial than ever, given the rise of grocery delivery services.

88. General Mills

88. General Mills

bpende / Flickr

Headquarters: Minneapolis, MN

Place on last poll: N/A

Why it’s hot: General Mills‘ Fiber One brand has been nailing its marketing, with its funny ads, and its socially-driven contest like #FiberOneCheesecake, which gave users the opportunity to win cheesecake for an entire year.

87. ESPN

87. ESPN

Michelle McLoughlin/Reuters

Headquarters: Bristol, Connecticut

Place on last poll: N/A

Why it’s hot: ESPN’s Fantasy Football app engaged consumers and helped the network bring a popular past time into the next generation.

86. ACER

86. ACER

Amazon

Headquarters: Taipei, Taiwain

Place on last poll: N/A

Why it’s hot: Acer’s tablets work in tandem with billboards, which allows consumers to interact with brands on a whole new level.

85. Wendy’s

Headquarters: Columbus, Ohio

Place on last poll: 47

Why it’s hot:  One of Wendy’s recent marketing campaigns was ultra-focused on millennials, with the young „Red“ character in commercials and new items like pretzel cheeseburgers. Wendy’s has always emphasized being fresher than competitors, making every burger to-order and not freezing beef. In the era of Chipotle, this message resonates with millennials.

84. Trader Joe’s

84. Trader Joe's

Christian Storm/Business Insider

Headquarters: Monrovia, California

Place on last poll: N/A

Why it’s hot: Millennials love Trader Joe’s. Organic food, unique products, and low prices make it a hot destination for millennials. It also boasts its own unique personality — be it the Hawaiian shirts or the pun-laden signs around the stores.

83. J. Crew

83. J. Crew

J. Crew

Headquarters: New York, NY

Place on last poll: N/A

Why it’s hot: Times have been tough for preppy mainstay J. Crew, as it appeared to stray from its roots with odd selections. But a fall collection and the spring/summer 2016 lineup looked generally promising. The brand continues to connect with millennial women, largely in part due to its Creative Director, Jenna Lyons. J. Crew’s „Very Personal Styling“ also appeals to millennials, as does its somewhat-affordable wedding apparel.

82. Gucci

82. Gucci

Thomson Reuters

File photo of a woman holding an umbrella as she walks past a company logo of a Gucci boutique outside a shopping mall in central Guangzhou

Headquarters: Florence, Italy

Place on last poll: N/A

Why it’s hot: Gucci engaged with millennial consumers with a campaign surrounding its classic loafer. The campaign included quizzes, a Pinterest board, and a #Gucci1953HorsebitLoafter hashtag, cementing the luxury brand as a participant in the social community with its own voice.

81. Costco

81. Costco

Thomson Reuters

Shopping carts at Costco in Fairfax, Virginia

Headquarters: Issaquah, Washington

Place on last poll: N/A

Why it’s hot: Now that Costco has partnered with Google, it can serve cash-strapped millennials in urban cities who want to buy things in bulk, but perhaps don’t have the transportation to do so. It already boasts many great deals.

80. Rue 21

80. Rue 21

Instagram/Rue 21

Headquarters: Warrendale, Pennsylvania

Place on last poll: N/A

Why it’s hot: The brand has figured out a way to pull in shoppers. When rue21 launched its new ecommerce site, it held a „Shop & Win“ contest. The contest involved a social sharing aspect as well as the promise of winning clothing.

79. Puma

79. Puma

Puma Facebook

Headquarters: Herzogenaurach, Germany

Place on last poll: N/A

Why it’s hot: While Puma lags in comparison to competitors Nike and Adidas, it still has managed to engage a young audience — especially with its „Dance Dictionary“ feature. Fortunately, Rihanna’s involvement with the brand is helping it tremendously.

78. Playstation

78. Playstation

Sony

Headquarters: San Mateo, California

Place on last poll: N/A

Why it’s hot: Playstation has managed to take gaming to the next level with its Infamous: Second Son game — it features a character with the power to shock others, and yes, players can get shocked.

77. Nordstrom

77. Nordstrom

Scott Olson / Getty Images

Headquarters: Seattle, Washington

Place on last poll: N/A

Why it’s hot: Nordstrom is the department store that’s managing to defy the odds. It recently announced plan to expand its lower-priced concept, Nordstrom Rack. Nordstrom managed to capture and hold onto a young audience by adding Reddit to its social media roster.

76. Nissan

76. Nissan

Newspress

Headquarters: Yokohama, Kanagawa Perfecture, Japan

Place on last poll: N/A

Why it’s hot: Nissan’s „Open The Briefcase“ campaign last year cemented it as a car company that’s fully engaged with its consumers, as it was orchestrated via mobile devices.

75. Dodge

75. Dodge

REUTERS/Rebecca Cook

Headquarters: Auburn Hills, Michigan

Place on last poll: N/A

Why it’s hot: When Dodge partnered with „Anchorman“ to produce an ad featuring the comically legendary Ron Burgundy (Will Ferrell), it cemented itself as a brand that communicated on the same level as many pop-culturally savvy millennials.

74. Toshiba

74. Toshiba

Thomson Reuters

Pedestrians walk past a logo of Toshiba Corp outside an electronics retailer in Tokyo

Headquarters: Minato, Tokyo, Japan

Place on last poll: N/A

Why it’s hot: Toshiba partnered up with Intel and San Francisco ad agency Peira & O’Dell for its „Beauty Inside“ campaign — a piece of branded content that featured six episodes about a character named Alex, who woke up as a different person everyday (including both celebrities…and regular people).

73. Sephora

73. Sephora

Thomson Reuters

People walk out of the Sephora store on the Champs Elysees Avenue in Paris

Headquarters: Paris, France

Place on last poll: N/A

Why it’s hot: Sephora is the premiere destination for all things beauty. Its points and rewards system encourages brand loyalty; consumers keep coming back to obtain points to earn new products. Sephora’s app, Beauty Insider, features „Beauty Boards,“ which allow shoppers to show off their best new looks. It also serves an inspiration board, in the same vein as Pinterest.

72. Netflix

72. Netflix

Thomson Reuters

The Netflix logo is shown in this illustration photograph in Encinitas, California

Headquarters: Los Gatos, California

Place on last poll: N/A

Why it’s hot: There’s a reason people say „Netflix and chill“ and not „cable and chill!“ Netflix’s original series such as „Orange Is The New Black“ and „Unbreakable Kimmy Schmidt“ have turned it into a very influential vehicle in pop culture. It also partnered with popular site Gawker for a documentary club, wherein viewers were able to discuss a weekly program with other people.

71. JCPenney

Headquarters: Plano, Texas

Place on last poll: 18

Why it’s hot: JCPenney has been working to execute a turnaround by focusing on engaging consumers, like with its interactive charity game during the Oscars. JCPenney recently starting incorporating Sephora units into its larger stores.

70. Banana Republic

70. Banana Republic

Banana Republic

Headquarters: San Francisco, California

Place on last poll: N/A

Why it’s hot: Banana Republic partnered with the funny Instagram account #HotDudesReading — promoting First Book, a literacy program for children (and millennials love things with a good cause). Recently, Banana Republic has faced some troubles with fashion missteps and slipping sales.

 

69. Valve

Headquarters: Bellevue, Washington

Place last poll: 24

Why it’s hot: The video-game development company rose to prominence with its Half-Life franchise in 1998. The brand has a huge following on Facebook and frequently posts giveaways. Steam has also become the premiere gaming platform for many people.

68. Pizza Hut

Headquarters: Wichita, Kansas

Place last year: 21

Why it’s hot:  Pizza Hut tested out movie-projector boxes in Hong Kong, proving that the brand is always looking to innovate. Pizza Huts wacky pizzas, like its Hot Dog Stuffed Crust Pizza, certainly set sparks of intrigue (and maybe disgust) flying throughout social media and the Internet.

 

67. Marvel

67. Marvel

Marvel

Headquarters: New York, NY

Place on last poll: N/A

Why it’s hot: Marvel is obviously a huge power force in pop culture — its „Avengers“ movies (amongst others) are smash hits, grossing billions of dollars worldwide. Marvel knows its movies generate tremendous hype, so it kept its „Avengers: Age of Ultron“ trailer ‚locked‘ until fans tweeted enough. Moosylvania notes that Marvel received an outrageous amount of tweets — an average of 8,100 tweets a minute worldwide — so it was obviously a successful campaign.

66. Michael Kors

66. Michael Kors

Facebook

Michael Kors rose to popularity because of its handbags.

Headquarters: New York, New York

Place on last poll: N/A

Why it’s hot: Michael Kors bags and watches are very popular with millennials, although a recent rise in ubiquity (along with rapid expansion) has threatened the brand’s level of luxury. It may be too popular for its own good. Still, Moosylvania praises the brand for its memorable 2013 campaign, #WhatsInYourKors, which cemented the brand’s social voice.

65. Facebook

65. Facebook

REUTERS/Stephen Lam

Facebook CEO Mark Zuckerberg is seen on stage during a town hall with Indian Prime Minister Narendra Modi at Facebook’s headquarters in Menlo Park, California September 27, 2015.

Headquarters: Menlo Park, California

Place on last poll: N/A

Why it’s hot: Facebook is a primary vehicle for millennial communication. The „Look Back“ campaign and the recent „memories“ feature cater to millennials‘ love for nostalgia — and better yet, they’re both focused on social sharing.

64. Bath & Body Works

64. Bath & Body Works

AP

Headquarters: Reynoldsburg, Ohio

Place on last poll: N/A

Why it’s hot: Bath & Body works was an icon in the late ’90s and early aughts (and a mainstay for holiday gifts). Bath & Body Works capitalized on millennials‘ love for nostalgia by throwing back to its iconic older fragrances, such as Cucumber Melon and Juniper Breeze with its #FlashbackFragrance campaign.

63. Barnes & Noble

Headquarters: New York, NY

Place on last poll: N/A

Why it’s hot: Yes, these kids still read! And Barnes & Noble knows that. Barnes & Noble also capitalized on social media with its #BNGiftTip campaign, which helped consumers figure out what sort of items to buy for presents via the Internet.

62. AT&T

62. AT&T

Daniel Goodman / Business Insider.com

Headquarters: Dallas, Texas

Place on last poll: N/A

Why it’s hot: AT&T had its own mini-series on Snapchat called „Snapperhero“ — and millennials love Snapchat. AT&T has encouraged its users to submit their own content for the campaign, too. Ultimately, all of it was shared on various social networks. AT&T proved it could communicate on the same level that millennials communicate on. AT&T also remains a popular phone service.

61. Verizon

Headquarters: New York, New York

Place on last poll: 27

Why it’s hot: Verizon is continuing to dominate the mobile space. The company also recently purchased AOL, showing it is interested in producing more content. The company has recently endeared millennials by making its data plan cheaper. The brand also had a campaign that encouraged young people to create mobile apps.

60. Mountain Dew

60. Mountain Dew

Honest Slogans

Headquarters: Purchase, New York

Place on last poll: N/A

Why it’s hot: Mountain Dew has capitalized on the way many millennials communicate — via Snapchat. It announced its new flavors via the social media service. The brand also told a live story via Snapchat when it launched its new Kickstar beverage, causing Fast Company to sing its praises. „Mountain Dew is a brand that is constantly engaging with young consumers,“ the website wrote.

59. Kroger

59. Kroger

REUTERS/Mike Blake

Breakfast cereal is shown for sale at a Ralphs grocery store in Del Mar, California, March 6, 2013.

Headquarters: Cincinnati, Ohio

Place on last poll: N/A

Why it’s hot: Kroger’s loyalty cards track what shoppers buy — so that Kroger’s shoppers don’t just receive random rewards, but rather, rewards that cater to their specific shopping needs. Kroger has been taking many steps to advance its in-store (and delivery) technology.

 

58. Kraft

58. Kraft

REUTERS/Jonathan Ernst

Kraft macaroni and cheese products are seen on the shelf at a grocery store in Washington, May 3, 2012.

Headquarters: Northfield, Illinois

Place on last poll: 40

Why it’s hot: Kraft scored big points with millennials this year when it announced that starting in 2016, its original Macaroni & Cheese will get its color from natural spices like paprika instead of from artificial additives Yellow 5 and Yellow 6. Kraft’s latest ads have also appealed to millennials, Moosylvania explains, since they look more like GIFs — something millennials love.

57. Gamestop

57. Gamestop

REUTERS/Shannon Stapleton

Headquarters: Grapevine, Texas

Place on last poll: N/A

Why it’s hot: GameStop knows how to cater to its customers. It uses mobile data to help it figure out which games to stock in particular regions. GameStop has avoided the fate of becoming the next ill-fated Blockbuster, by stocking more than just games, featuring downloadable content, and making GameStop not just a store, but a social destination for game-loving shoppers.

56. Chipotle

Headquarters: Denver, Colorado

Place on last poll: N/A

Why it’s hot: It’s no secret — millennials are obsessed with fast casual behemoth Chipotle. Its focus on eliminating GMOs and sustainable ingredients has helped it unseat Subway as the ultimate healthy place to eat. The company is also quirky — Moosylvania points to its haiku contest, wherein consumers could write love haikus to their beloved burritos for the chances to win prizes.

 

55. Chick-fil-A

55. Chick-fil-A

Hollis Johnson

Headquarters: Atlanta, Georgia

Place on last poll:

Why it’s hot: Chick-fil-A has a cult following, no doubt. Its zealots showed their devotion when they had the opportunity to dress like cows to win free food. Chick-fil-A remains a favorite destination for millennials because the food is fresh…and good.

 

54. Whole Foods

54. Whole Foods

Mallory Schlossberg/Business Insider

Headquarters: Austin, Texas

Place on last poll:

Why it’s hot: Whole Foods is known for selling fresh, organic food, and for suggesting healthy recipes to consumers. It has engaged consumers on its social networks by encouraging them to share their own food photos.

53. Ebay

53. Ebay

Thomson Reuters

An eBay sign is seen at an office building in San Jose, California

Headquarters: San Jose, California

Place on last poll: N/A

Why it’s hot: Even though reselling clothes is becoming the hottest new thing in retail — and many startups are aiming to disrupt the space — eBay remains the primary place for reselling items on the Internet. eBay has also showed off its cultural colors when it suggested that artists use the hashtag #eBayArtforAll to share their own personal inspirations.  

52. Asus

52. Asus

REUTERS/Pichi Chuang

Asus Padfone 2 tablet

Headquarters: Taipei, Taiwan

Place on last poll: 50

Why it’s hot: This Taiwanese company is a huge PC vendor. The brand is making headlines for its inexpensive Android smartphone and ZenWatch. The brand also plays on popular memes (for example, birds with arms), and has optimized its Internet friendly content, including games and videos. But as more consumers turn to Android, Asus could be challenged.

51. Taco Bell

51. Taco Bell

Taco Bell Online

Headquarters: Irvine, California

Place on last poll: Taco Bell

Why it’s hot: Taco Bell remains wildly popular. It’s #breakfastdefects campaign helped the brand create its own unique, Internet-friendly culture surrounding its breakfast lineup. Taco Bell also rewards fans by giving away free food with occasional contests.

 

50. Dr. Pepper

50. Dr. Pepper

By andreasivarsson on Flickr

Headquarters: Plano, Texas

Place on last poll: N/A

Why it’s hot: Dr. Pepper not only has a cult following, but it also has taken steps to lure in millennial consumers. It partnered with Spike TV’s popular show, „Lip Sync Battle“ to set up a lip sync booth in Times Square. Some people were selected to have their videos air on the television show.

49. Dove

49. Dove

Dove

Headquarters: Rotterdam, Netherlands

Place last year: 26

Why it’s hot: Dove, which is owned by Unilever, has been succeeding with its „real beauty“ campaigns, which emphasizes natural looks over the typically airbrushed ads, resonate well with millennials. The brand’s „Self Esteem“ Snapchat campaign, in which girls could Snapchat their insecurities and receive a positive response, highlighted the brand’s ethos.

48. HTC

48. HTC

Antonio Villas-Boas/Tech Insider

Headquarters: Xindian District, New Taipei, Taiwan

Place on last poll:

Why it’s hot: HTC made its consumers stars in Times Square — the company encouraged consumers to share their most gorgeous photos for a chance to be shared on a massive billboard in the iconic New York City enclave.

47. Hershey’s

Headquarters: Hershey, Pennsylvania

Plac last poll: 37

Why it’s hot: Hershey’s has dropped artificial colorings from its chocolate. „We are committed to making our products using ingredients that are simple and easy-to-understand, like fresh milk from local farms, roasted California almonds, cocoa beans and sugar – ingredients you recognize, know and trust,“ the company said in a news release.

46. BMW

46. BMW

BMW

Headquarters: Munich, Germany

Place on last poll: N/A

Why it’s hot: BMW served as an official sponsor of the United States Olympics team in 2014, and the automobile company sponsored social campaigns with incentives for consumers, like its #BMWborntoslide campaign, wherein consumers who photographed themselves sliding could a win a trip to Utah to ride in a real bobsled.

45. Ralph Lauren

45. Ralph Lauren

Ralph Lauren

Headquarters: New York, New York

Place on last poll: 30

Why it’s hot: Ralph Lauren’s brand is available at thousands of stores worldwide. The brand has become more active on social media and hired Sports Illustrated cover model Hannah Davis to model its resort collection. The brand also encouraged consumers to be a part of its „Project Warehouse“ campaign last year, which Moosylvania says created an emotional connection between the brand and its consumers.

44. Kellogg’s

Headquarters: Battle Creek, Michigan

Place on last poll: 39

Why it’s hot: Cereal sales might be declining, but the company has mastered digital campaigns, which certainly appeals to millennials.

43. Coach

43. Coach

REUTERS/Fred Prouser

Headquarters: New York, NY

Place on last poll: N/A

Why it’s hot:  Coach’s social media activity and campaigns have made the luxury brand accessible to younger shoppers who don’t have as much money. But, Coach’s ubiquity and accessibility have hurt the brand’s reputation as a luxury retailer, so the brand has been focusing on toning down its promotions to help it become more exclusive again.

42. Honda

42. Honda

Newspress

Headquarters: Hamamatsu, Japan

Place on last poll: 31

Why it’s hot: Honda’s fuel-efficient, compact cars appeal to millennials. But most importantly, the company’s YouTube campaigns for Honda Fit excited millennials. Honda has partnered with major companies such as iHeartRadio, Live Nation, and REVOLT for its YouTube channel.

41. Chevrolet

41. Chevrolet

Chevrolet

Headquarters: Detroit, Michigan

Place on last poll: 23

Why it’s hot: Chevy’s compact, Trax SUV is a hit with urban millennials. The brand’s emoji-themed campaigns also appeal to millennials, who communicate that way.

40. Best Buy

Headquarters: Minneapolis, Minnesota

Place on last poll: 28

Why it’s hot: Best Buy has been successfully growing sales and revenue through its television business. Executives at Best Buy have made it clear that 4K Ultra High Definition televisions are the future of the business. Last year, the brand appealed to consumers during the holiday season by encouraging them to post what they wanted online with a #hintingseason hashtag.

 

39. Macy’s

39. Macy's

Kena Betancur/Getty

People enter the Macy’s store at the Newport Mall on November 27, 2014 in Jersey City, New Jersey.

Headquarters: Cincinnati, Ohio

Place on last poll: 16

Why it’s hot: Millennials are spending less money on clothes, which is bad news for Macy’s. In order to attract younger shoppers, the brand has been investing in trendier clothing lines and other categories like home goods and cosmetics. But Macy’s has been also focusing on its social campaign, like its #MacysLoveMoms. For every photo memory or tweet shared, the company donated $3 to a charity.

38. Express

38. Express

Facebook/Express

Headquarters: Columbus, Ohio

Place on last poll: N/A

Why it’s hot: Express rewards shoppers by not just using their store credit cards, but by getting involved with Express in other ways, too — like retweeting its tweets and singing up for its text message alerts. For every 2,500 points, shoppers earn $10. This helps Express ensure customer loyalty.

37. Aeropostale

37. Aeropostale

AP

Headquarters: New York, New York

Place on last poll: 46

Why it’s hot: Despite falling out of favor with the teen set, Aeropostale still maintains some loyalty with the 20-somethings who wore it in high school. The brand’s status, however, is falling fast as young people increasingly move away from logos. The brand has appealed to millennials by incorporating YouTube personality Bethany Mota into its marketing and fashion plans. (The company filed for Chapter 11 bankruptcy in May.)

36. Hewlett-Packard

36. Hewlett-Packard

Lisa Eadicicco

Headquarters: Palo Alto, California

Place on last poll: 35

Why it’s hot: Young consumers love Hewlett-Packard’s relatively inexpensive laptops. Still, they remained threatened by Apple’s dominance in the industry.

35. Gap

35. Gap

Hollis Johnson/Business Insider

Headquarters: San Francisco, California

Place on last poll: N/A

Why it’s hot: Although Gap’s „Dress Normal“ campaign generally misfired, it succeeded on some points. Moosylvania points to tis „Play Your Stripes“ game in collaboration with Blood Orange, where people could ‚play‘ the stripes on their clothes to create music.

34. Frito Lay

34. Frito Lay

Hollis Johnson

Headquarters: Plano, Texas

Place on last poll: N/A

Why it’s hot: Lay’s won big with its Do Us A Flavor contest. People who shared their digitally designed flavors online were eligible to win bags of their designed chips — and some even got to have their flavors nationally produced. (Business Insider went ahead and tested some of these wacky flavors).

33. Toyota

33. Toyota

Toyota

Headquarters: Toyota, Aichi Prefecture, Japan

Place on last poll: N/A

Why it’s hot: Toyota has teamed up with YouTube stars like Rhett & Link for campaigns, proving it knows how to cater to its audiences. Moosylvania also highlights its 2014 #CarsThatFeel campaign, which incorporated LED lights into Priuses for the 2014 Vivid Light Festival in Sydney Harbor. The cars had ‚personalities‘ and ‚feelings‘ and interacted with people, which is certainly intriguing.

32. McDonald’s

Headquarters: Oak Brook, Illinois

Place on last poll: 17

Why it’s hot: The brand has been introducing more fresh ingredients and customizable burgers to compete with fast casual brands. It’s #PayWithLovin campaign also appealed to millennials. The company is also launching a new salad mix that is more colorful, perhaps to appeal to health-conscious millennials.

31. H&M

Headquarters: Stockholm, Sweden

Place on last poll: N/A

Why it’s hot: H&M knows what its consumers want. Moosylvania points to the racy campaign where shoppers could choose how David Beckham would appear in one of its ads — with or without clothes (he was wearing briefs, of course!). H&M has also managed to lure many sartorially minded shoppers with its high-profile collaborations.

30. Under Armour

30. Under Armour

Facebook/Under Armour

Headquarters: Baltimore, Maryland

Place on last poll: 45

Why it’s hot: Under Armour has exploded in popularity in recent years thanks to signing famous athletes like Stephen Curry and smart marketing of its performance-wear. The brand is rapidly catching up to competitors Lululemon and Nike, especially as it incorporates more technologically-focused apparel into its lineup.

29. Levi’s

Headquarters: San Francisco, California

Place on last poll: N/A

Why it’s hot: Levi’s has benefited from young consumers‘ tendency to wear denim and casual clothing to work. But now, many millennials are abandoning denim entirely, choosing to wear athletic attire instead. To combat this problem, Levi’s has been designing jeans that are stretchy and more form-fitting in nature, to put them in line with athleisure-style apparel.

28. Dell

28. Dell

Lisa Eadicicco

Headquarters: Round Rock, Texas

Place last poll: 15

Why it’s hot: Dell is another company benefiting from millennials‘ reliance on technology. The company’s laptop and desktop computers are especially popular with the young set. But most crucially, Moosylvania explains that Dell really appealed to millennials by sending YouTube celebrities Smosh on a road trip, chronicling it all with a Dell Venue 8 Tablet.

27. Vans

Headquarters: Cypress, California

Place on last poll: 25

Why it’s hot: Vans started out selling skater shoes, but has since gone mainstream. The company has benefited from athletic footwear becoming more fashionable than dress shoes.

26. Hollister

Headquarters: Columbus, Ohio

Place on last poll: N/A

Why it’s hot: Hollister signifies a beachy lifestyle. The company owned that attitude by renting a beach house in California in summer 2014, tapping top artists to perform. The brand had stylists give consumers advice online, too. The brand proved that it was in touch with its consumers favorite celebrities while also engaging in a conversation with its shoppers.

 

25. Victoria’s Secret

25. Victoria's Secret

Dimitrios Kambouris/Getty Images

Headquarters: Columbus, Ohio

Place on last poll: 38

Why it’s hot: Victoria’s Secret is the undisputed leader of the lingerie market, controlling 61.8% of the market share, according to IBIS World. The company’s marketing strategy, which includes its famous Angels, is seen as one of the best in the business.

24. Kohl’s

Headquarters: Menomonee Falls, Wisconsin

Place on last poll: N/A

Why it’s hot: Kohl’s rewards program ensures customer loyalty without needing a store credit card. In fact, customers can earn points by doing the simplest activity such as pinning images on Pinterest. Kohl’s lower prices can also lure millennials.

22. Hot Topic

22. Hot Topic

flickr / camknows

Headquarters: Industry, California

Place on last poll: N/A

Why it’s hot: Hot Topic is more than just a destination for clothing for millennials — it’s become an entire lifestyle, with its focus on the music industry and pop culture. The store even sponsors shows.

23. Old Navy

23. Old Navy

AP Photo/Ed Betz

Shoppers wait in line to pay at an Old Navy store in Deer Park, N.Y.

Headquarters: San Francisco

Place on last poll: N/A

Why it’s hot: Old Navy’s digital campaigns have been massive hits — Moosylvania points to its 2014 Christmastime Vine campaign, but the company’s „#Unlimited“ viral video, which has over 12 million views on YouTube. The company has also delivered quirky spots starring Julia Louis-Dreyfus. Old Navy understands how to market content to the Internet generation, though sales have been slipping lately.

21. Disney

Headquarters: Burbank, California

Place on last poll: N/A

Why it’s hot: Moosylvania points out Disney’s unique campaign „Disney Side,“ wherein shoppers would walk by a billboard a the Westfield Sunrise Center in Massapequa and see iconic Disney characters. This was a huge social media hit.

20. LG Corporation

20. LG Corporation

REUTERS/Gustau Nacarino

A model holds a curved G Flex smartphone by LG Electronics during the Mobile World Congress (MWC) in Barcelona February 24, 2014.

Headquarters: Busan, South Korea

Place on last poll: 48

Why it’s hot: LG’s funny #MomConfessions campaign proved the LG knew how to cater to millennials — through humor and social media.

19. Ford

19. Ford

REUTERS/Wolfgang Rattay

The new Ford Vignale is presented during a media preview day at the Frankfurt Motor Show (IAA) September 10, 2013.

Headquarters: Dearborn, Michigan

Place on last poll: 19

Why it’s hot: Ford is repositioning its brand to seem more luxury and compete with auto-makers like BMW and Mercedes with the launch of the new Vignale brand. The new line of compact sedans could resonate with millennials, who prefer smaller cars then their parents‘. Ford has also embraced social media with Instagram contests.

18. Converse

Headquarters: Boston, Massachusetts

Place on last poll: 20

Why it’s hot: Converse has seen sales boom as more millennials wear sneakers to work and other occasions. Athletic apparel and footwear is set to outperform the industry for the next five years, according to Morgan Stanley. Converse’s „Made By You“ campaign allowed consumers to show off their unique attributes and lives — using Converse as a vehicle for it all.

17. American Eagle

Headquarters: Pittsburgh, Pennsylvania

Place on last poll: N/A

Why it’s hot: American Eagle has managed to avoid the fate of many of its competitors by not falling victim to the low sale prices utilized by many fast fashion stalwarts. Most crucially, American Eagle has won the heart of millennial females with Aerie, its lingerie subset, which proudly boasts Photoshop-free ads. Since nixing Photoshop, sales have soared.

16. Starbucks

Headquarters: Seattle, Washington

Place on last poll: 22

Why it’s hot: Starbucks has been expanding its menu to include more food options such as sandwiches and salads — and even wine at some locations. It has also added drive-thrus to many locations. Additionally, it allows consumers to have a say in its products — like when it had consumers vote on new frappuccino flavors in the summer, granting the winning beverage a lower price, Moosylvania notes.

15. Pepsi

15. Pepsi

Thomson Reuters

Cases of Pepsi are displayed for sale in Carlsbad

Headquarters: Purchase, New York

Place on last poll: 10

Why it’s hot: PepsiCo has introduced a beverage sweetened with natural sweetener Stevia called Pepsi True. The company says the new product „will continue to provide consumers with the crisp, refreshing zero-calorie cola taste they expect from Pepsi.“ It also removed artificial ingredient aspartame from Diet Pepsi. The brand’s 2014 YouTube hit, „Unbelievable,“ was a smash with viewers, garnering over 7 million hits.

 

14. Jordan

Headquarters: Beaverton, Oregon

Place on last poll: 9

Why it’s hot: Many of Nike’s Jordan brand sneakers are prominent on the billion-dollar reselling market.  A growing culture of so-called sneakerheads buy collectible footwear on eBay, Craigslist, and other sites. Jordan’s „We Are Jordan“ campaign had an interactive element, too.

13. Adidas

Headquarters: Herzogenaurach, Germany

Place on last poll: 14

Why it’s hot: Adidas is going to start offering customized shoes to appeal to millennials. It also is working to reduce the time between when products are designed and when they hit shelves. Still, the brand continues to lose market share to Nike.

12. Forever 21

12. Forever 21

REUTERS/Lucas Jackson

Women shop for clothes in clothing retail store Forever 21 in New York.

Headquarters: Los Angeles, California

Place on last poll: 36

Why it’s hot: Forever 21 offers fast fashion at unbeatable prices and has expanded tremendously in two decades.

10. Coca-Cola

10. Coca-Cola

Donald Bowers/Getty Images

Headquarters: Atlanta, Georgia

Place on last poll: 8

Why it’s hot: Coca-Cola remains the clear leader in the soda market. The brand also scored high points for its „Share a Coke“ campaign, which featured common names on Coke bottles. Now, with its „Tweet a Coke“ campaign, people can send Cokes to others. Still, Coca-Cola’s partnership with Keurig for the Keurig Kold failed to resonate with consumers.

11. Nintendo

11. Nintendo

YouTube/cobanermani456

Headquarters: Kyoto, Japan

Place on last poll: 13

Why it’s hot: Many millennials feel nostalgic toward Nintendo because they played its games as kids. This has led to brand loyalty in adulthood. 2015 was also the 30th anniversary of Super Mario, and the brand encouraged users to participate in a campaign called „Let’s Super Mario,“ allowing users to submit their own Mario-related content — all of which would be shared on a site where many could see it.

9. Wal-Mart

9. Wal-Mart

Wal-Mart

Headquarters: Bentonville, Arkansas

Place on last poll: 5

Why it’s hot: Wal-Mart gave its workers a raise this year and has pledged to adopt more humane standards for the meat it sells. It also opened smaller format stores that resonate with millennials more than supercenters. Its „Neighborhood Market“ grocery concepts could rival those of Whole Foods, and its app helps consumers find savings throughout the store.

8. Google

8. Google

AP

Headquarters: Menlo Park, California

Place on last poll: 12

Why it’s hot: Google’s smartphone apps have become essential for many millennials. Its Gmail program is also extremely popular. Google continues to find ways to be a part of users‘ everyday lives.

7. Amazon

7. Amazon

REUTERS/Phil Noble

Headquarters: Seattle, Washington

Place on last poll: 11

Why it’s hot: This year, the company started offering one-hour delivery for members of its Prime service and expanded its grocery delivery business to New York City. The company also announced a new gadget called the Dash Button, which will make it easier for consumers to order household items, such as detergent, when they are running low. Amazon has also connected with Twitter.

 

6. Target

6. Target

Associated Press

A Target employee hands bags to a customer at the register at a Target store in Colma, Calif.

Headquarters: Minneapolis, Minnesota

Place on last poll: 6

Why it’s hot: Target invented the idea of „cheap chic“ two decades ago. Today, the company is revamping its grocery selections for millennials. Target has also worked to cement itself as the premiere destination for back-to-school college goods.

 

5. Microsoft

5. Microsoft

Microsoft

Nick Parker, corporate vice president of Microsoft’s OEM Division, and Felicia Guity, general manager in Microsoft’s OEM Division

Headquarters: Redmond, Washington

Place on last poll: 7

Why it’s hot: Cloud computing, mobile apps, and holographic computing are driving Microsoft to record profits. The brand recently did a demo showing how personal computers could become holographic. Its Microsoft Band even features Uber and Facebook apps — two very popular apps. Microsoft has also been using LinkedIn to comunicate with its consumers.

4. Sony

4. Sony

REUTERS/Toru Hanai

Sony Mobile Communications Inc President and CEO Hiroki Totoki poses with Sony’s new Xperia Z4 smartphone after a news conference in Tokyo April 20, 2015.

Headquarters: Minato, Tokyo

Place last poll: 4

Why it’s hot: Sony’s Playstation, gaming, photo, and music businesses are booming. Sony is aggressively investing in these areas. The company also has popular smartphones. Sony also utilized a concept called One Stadium Live for the 2014 World Cup, creating a single platform for all World Cup-related social media.

3. Samsung

Headquarters: San Jose, California

Place last poll: 3

Why it’s hot: Samsung’s Galaxy phones and tablets are extremely popular with millennials. The brand’s latest Galaxy S6 smartphone received rave reviews.

2. Nike

Headquarters: Beaverton, Oregon

Place on last poll: 1

Why it’s hot: When it comes to active wear — and apparel in general — Nike is the go-to brand. Data also shows that millennials believe exercise is essential for health, while their parents only focused on their diets. Nike has focused on incorporating top-tier technology into its clothing.

1. Apple

1. Apple

Business Insider / Matt Johnston

Headquarters: Cupertino, California

Place on last poll: 2

Why it’s hot: Apple has a fanatical following, and many of its customers are millennials. The company’s iPhones, iPads, and Macbooks are wildly popular. Last year, Apple made headlines with its new watch.

http://www.businessinsider.de/top-100-millennial-brands-ranking-2015-5?op=1

 

Ask Yourself These Questions Weekly

The art of asking questions is the source of all business success.

Whether you’re running a business, an aspiring entrepreneur, or somebody with big dreams, achieving requires that you have goals, plans, and a way to hold yourself accountable. If you really want to stay on track, a weekly check-in can be a valuable tool.

Spend some time every week with these important questions and keep your momentum going!

1. What did I learn from last week? If you’re determined to learn, no one can stop you. If you’re unwilling to learn, no one can help you.

2. What was my greatest accomplishment last week? Every accomplishment gives you a win, lending you confidence and motivation.

3. What have I struggled with in the past that might affect the upcoming week? Today’s struggle is developing the strength you need for next week.

4. What’s the first thing I want to accomplish this week? If you know your number one goal, you can spend your time concentrating on your priority.

5. What can I do right now to make this week go well? Good planning makes your odds of success much higher.

6. What can I do right now to make the week less stressful? If you know what stresses you out and you see what’s on the horizon, you can brace yourself for pressure.

7. What was the last week’s biggest waste of time? Identify the useless things that take up your time so you can avoid them.

8. How will I make sure that what I want to achieve gets done? What can you do this week to make sure you’re moving toward your goals? Make a plan for the groundwork to be in place.

9. Why is this something I want to achieve? Staying in touch with your why leads you naturally to your how and what.

10. Have I been sabotaging myself? Keep a careful watch out for your inner saboteur. Don’t let it set you back or slow you down.

11. What have I been putting off? Everyone procrastinates–but what do you really need to get started on?

12. What opportunities are still on the table? Try not to let an important opportunity get past you.

13. What do I want to change? Stay committed to your goals but flexible in your approach.

14. What steps are complete? Arriving at one goal is the starting point to another.

15. Is there anything more I need to be doing? Anything you haven’t already tried is fair game. You never know!

16. What do I think is stopping me? Forget all the reasons it won’t work and believe the one reason it will.

17. What roadblocks do I expect? Plan your detours in advance and a roadblock is no big deal.

18. What obstacles are getting in the way of my success? Remember, obstacles are the things you see when you take your eyes off your goal.

19. What should I be doing differently? Don’t be afraid of looking for a better way. Be afraid of not exploring anything new.

20. How am I making an impact? Are you doing what you were born to do?

21. What am I most grateful for? Even in the darkest hour, here is always something to be thankful for.

22. Is there anyone I need to thank? Who do you need to appreciate and acknowledge?

23. How will I know I’ve achieved success? Success is not the key to happiness; happiness is the key to success. If you love what you’re doing you will be happy AND successful.

24. What am I looking forward to? The answer to this question will get you motivated for next week and help you stay energized.

Spend some time with yourself every week taking stock, and you’ll never feel out of touch with where you are, where you want to be, and what you need to be doing.

www.inc.com/lolly-daskal/want-to-be-a-great-leader-ask-yourself-these-24-questions-every-week.html

How new CEOs can boost their odds of success

A data-driven look at the link between the strategic moves of new CEOs and the performance of their companies highlights the importance of quick action and of adopting an outsider’s perspective.

The success of CEOs is deeply linked to the success of the companies they lead, but the vast body of popular literature on the topic explores this relationship largely in qualitative terms. The dangers of these approaches are well known: it’s easy to be misled by outliers or to conclude, mistakenly, that prominent actions which seem correlated with success were responsible for it.

We tried to sidestep some of these difficulties by systematically reviewing the major strategic moves (from management reshuffles to cost-reduction efforts to new-business launches to geographic expansion) that nearly 600 CEOs made during their first two years in office. Using annualized total returns to shareholders (TRS), we assessed their companies’ performance over the CEOs’ tenure in office. Finally, we analyzed how the moves they made—at least those visible to external observers1 —and the health of their companies when they joined them influenced the performance of those companies.2

The results of this analysis, bolstered by nearly 250 case studies, show that the number and nature of the strategic moves made by CEOs who join well- and poorly performing companies are surprisingly similar. The efficacy of certain moves appears to vary significantly across different groups of companies, however. What’s more, the sheer number of moves seems to make a difference, at least for CEOs who join poorly performing companies. Also, external hires appear to have a greater propensity to act.

These findings have important practical implications for new CEOs and the boards that hire them: focus early on a few bold moves well suited to the context of your company, and recognize the value of the outsider’s perspective—whether or not you are one.

Surprising similarities

The starting point for our analysis was a group of nearly 600 CEOs who left S&P 500 companies from 2004 to 2014 (identified in the annual CEO Transitions report produced by Spencer Stuart, the global executive-search and leadership-consulting firm).3 For each CEO’s first two years, we gathered information—from a range of sources, including company reports, investor presentations, press searches, and McKinsey knowledge assets—on nine strategic moves that chief executives commonly make.

We expected that CEOs taking the helm at poorly performing companies, feeling compelled to do something to improve results, would have a greater propensity to make strategic moves than those who joined well-performing organizations. To learn whether this idea was true, we looked at how each company had been performing relative to its industry counterparts prior to the new CEO’s arrival and then subdivided the results into three categories: well-performing, poorly performing, and stable companies.4 When we reviewed the moves by companies in each of these categories, we found that new CEOs act in similar ways, with a similar frequency, whether they had joined well- or poorly performing organizations. CEOs in different contexts made bold moves—such as M&A, changing the management team, and launching new businesses and products—at roughly the same rate (Exhibit 1).

Contextual contrasts

Although new CEOs transitioning into companies that have been performing well and CEOs transitioning into companies that have been performing poorly make similar moves with a similar frequency, that doesn’t mean those moves are equally effective. We measured the performance of companies by excess TRS over a CEO’s tenure. At companies where chief executives made strategic moves early on, we found striking contrasts between organizations that had been performing well when the new CEO took charge and those that had been performing poorly:

  • Organizational redesign was correlated with significant excess TRS (+1.9 percent) for well-performing companies, but not for low performers.
  • Strategic reviews were correlated with significant excess TRS (+4.3 percent) for poorly performing companies but were less helpful for companies that had been performing well.
  • Poorly performing companies enjoyed +0.8 percent TRS when they reshuffled their management teams. But when well-performing companies did so, they destroyed value.5

We recognize that excess TRS CAGR does not prove a causal link; too many other variables, some beyond a CEO’s control, have an influence. But we do find the differences that emerged quite plausible. It stands to reason that troubled companies would enjoy special benefits from major overhauls of management or strategy. Organizational redesigns are challenging for all companies and may, in some cases, be premature for organizations in significant flux.6 Also plausible was the finding that cost-reduction programs appear to improve a company’s TRS relative to those of its counterparts for both well- and poorly performing organizations, though the effect is strongest for weak ones.

A final point on context is that the bar for top performance varies significantly by sector. In some, such as investment services and automotive, the TRS CAGRs of top-performing organizations with new CEOs are more than 16 percent above those of their industry counterparts. In other sectors, such as media and telecommunications, a CEO’s company must outperform the market by only a few percentage points to be classed in the top quintile. The implication is that new CEOs seeking to calibrate their starting points and to prioritize strategic moves should look beyond top-level performance metrics to understand what it will really take to beat the market.

Bold bouncebacks

We also sought to compare the number of major moves that new CEOs made in parallel at well- and poorly performing companies. Well-performing companies had no discernible pattern. But in poorly performing ones, CEOs who made four or more strategic moves at the same time during their first two years achieved an average of 3.6 percent excess annual TRS growth over their tenures. Their less bold counterparts in similarly bad situations could claim just 0.4 percent excess annual TRS growth.

These findings are in line with earlier McKinsey research7 showing how difficult it is to reach higher levels of economic profit without making substantial strategic or operational shifts. That has also been our own experience working with new CEOs on turnarounds.

Outside views

When the time comes to appoint a new CEO, corporate boards face a difficult question: promote an executive from within or choose an outsider? We turned our own lens to this issue and found that the performance of outsiders and insiders differed significantly. Externally appointed CEOs have a greater propensity to act: they were more likely to make six out of the nine strategic moves we examined. The size of the gap in frequency—in other words, the chance an external CEO would make a particular move minus the chance an internal CEO would do the same thing—was much greater for the moves external CEOs opted to make (Exhibit 2).

External CEOs almost certainly have a leg up when it comes to bold action. They are generally less encumbered by organizational politics or inertia than their internal counterparts. They may also be more likely to take an outside view of their companies. It’s no coincidence, in our view, that the strategic moves that have the largest gaps in the propensity to act include some of the most far-reaching ones: organizational redesign, for example, or geographic contraction.

Poorly performing companies are more likely to appoint external CEOs, and corporate performance tends to revert to the mean. But the TRS edge of outside hires was substantial: over their tenure, they outperformed their internally promoted counterparts by a margin of more than five to one—on average, a 2.2 percent excess TRS CAGR, compared with 0.4 percent.

Clearly, this performance differential is the result of multiple factors, and it’s important to note that new CEOs need not come from outside companies to cultivate an outsider’s mind-set—or to be successful in their role.8


While our results are averages across multiple organizations and industries, they do suggest a few principles for new CEOs:

  • Adopt an outsider’s mind-set. On average, external hires appear to make more moves during their early years. This doesn’t mean that insiders are the wrong choice for boards. But it does suggest that it’s critical for insiders to resist legacies or relationships which might slow them down and that approaches which help insiders adopt an outsider’s mind-set have great potential. Equally, there is value in having outsiders who can lean into the boldness that their status naturally encourages. Some executives have done so by creating new ways to assess a company’s performance objectively—for example, by taking the view of a potential acquirer or activist investor9 looking for weak spots that require immediate attention. Others have reset expectations for the annual allocation of resources, changed the leadership model and executive compensation, established an innovation bank, and looked for additional ways to bring an external perspective to the heart of the leadership approach.
  • Don’t follow the herd. On average, new CEOs make many of the same moves, regardless of starting point. They will do better, however, by carefully considering the context of their companies and leveraging more scientific ways to assess their starting points. For instance, some new CEOs take stock of the economic-profit performance of companies relative to that of their peers and, in light of the starting position, assess the odds that potential moves will pay off.10
  • When you’re behind, look at the whole playbook. On average, CEOs taking the helm at underperforming companies do better when they make more major strategic moves, not fewer. That doesn’t mean they should try to do everything at once, but it does suggest a bias toward boldness and action. Plan a comprehensive set of moves that will significantly improve your company’s performance, and make sure that you aim high enough.11

New CEOs take the helm with a singular opportunity to shape the companies they lead. The best ones artfully use their own transition into the CEO role to transform their companies. But this window of opportunity doesn’t last long. On average, an inflection point arrives during year three of a CEO’s tenure. At that point, a CEO whose company is underperforming is roughly twice as likely to depart as the CEO of an outperforming one—by far the highest level at any time in a chief executive’s tenure. During this relatively short window, fortune favors the bold.

quote: www.mckinsey.com/global-themes/leadership/how-new-ceos-can-boost-their-odds-of-success

Great Leadership Secrets From Michelangelo and Picasso

Words are poor conveyers of meaning. Visualizing what a strategy looks like when successfully executed allows people to help make it a reality.

Words are poor conveyers of meaning. Pictures can be one of the most versatile tools in any leader’s toolbox. Michelangelo started the David in 1501 at the age of 26 and famously said: „I saw the angel in the marble and carved until I set him free.“ He was intensely focused on freeing the slumbering figures in the stone.

Similarly, Picasso was able to visualize and capture realism in his painting from a young age, and evolved so immensely throughout his career eventually co-founded the cubist movement.

For many of us, our best „artistic“ moments happen on a napkin sketch at the kitchen table or at a bar. We use images, lines, stars, circles and arrows to first capture an idea. Then share it with someone else. That person’s perspective and questions are what encourage us to revise the sketch and improve its clarity and meaning.

The conversation around our napkin art is what drives the a-ha moment, the excitement. You, as a leader, can use visualization and visual iteration to free the figures (or your people) slumbering within your organization, and drive innumerable a-ha moments.

Here are three ways to do just that:

1. Use visualization to create clear meaning

Pepsi’s leaders used visuals like this to help their people understand the rationale behind their changing business model.

Even the most common terms in strategic plans (words like operational excellence, customer centric, innovation, accountability, high performance, collaboration, vision) suffer from lack of meaning. Instead, define meaning with a picture. Have each member of your team draw a picture of what a high performance team looks like to them.

Compare the pictures. Then create a single image made up of the strongest elements of each person’s initial drawing. As a team, tell one story (accompanied by the picture) of what a high performance team means. Pictures drive common understanding in a way that words often cannot.

2. Use visualization to think in systems

Many of the most complex issues we face are systems issues. It is hard to understand a system unless we can see it. Consider systems such as how we make money, or how to execute our business model. It’s tough to imagine without a diagram.

One well-known manufacturer found itself with hundreds of millions of dollars painfully tied up in working capital. The company tried unsuccessfully to reduce this amount for two years.

Finally it used imagery, pictures and metaphors to illustrate where the money came from, where it went, and how much is left afterwards. The business engaged all of its people to better understand how its economic system worked. Within six months, the company had freed up $300 million of working capital. Pictures make invisible systems tangible.

3. Use visualization to frame a process

Customer acquisition, supply chain, and new product/ process development are just three examples of key business processes. Many process errors occur at the handoff points where clarity of workflow between departments and people is not always clear and co-owned.

Instead, visualize or blueprint a major process step by step and highlight the key handoffs that often become the „process busters“ for the most important processes in your organization.

If Aristotle was right when he said the soul never thinks without a picture, and if everyone is right when they say a picture is worth a thousand words, then a grand visual metaphor for achieving organizational goals can be priceless.

When a picture is clear in our mind’s eye, we can make sense of it. When it is not clear, it is nearly impossible to take action on it. So, it doesn’t have to be the Sistine Chapel ceiling, but every extraordinary leader must know how to paint a picture for their people of where they are and where they want to go.

http://www.inc.com/jim-haudan/why-great-leaders-have-learned-to-emulate-michelangelo-and-picasso.html

What Famous Logos Would Look Like if They Were Affected by the Products They Sell

A fatter McDonalds logo? A caffeinated bitchy Starbucks logo? What would famous logos look like if they really were affected by the products they sell?

Italian designer Marco Schembri recently made a provocative series about logos and their effects on consumers.

10Designs

“For work, I always spend my time going around the web looking for trends and so on,” said Schembri from his home in Malta. “I was spending my weekend searching for articles and I found one on the food damages. Later on I “met” the McDonald’s logo and immediately I thought that logo was very skinny—it was a paradox, considering how fat people become after eating their products. So I decided to modify it by myself just to laugh. The rest of the story you can imagine.”

That led Schembri to doing a series of 10 logos, like fuzzing out the ABSOLUT vodka logo into how one might see it under the influence of alcohol, to putting the Durex logo inside of a condom.

Schembri’s approach is simple; he says he speaks as a product designer. “When you design something, you always start from the brand to develop a product as close as possible to the company family feeling,” he said. “This means at least 80% of the products in the market need to reflect the brand. What happens is the brands are also usually conditioned by the product image.”

A few others include a Nestle chocolate logo covered in pimples and a Zippo logo charred with smoke. Even though his playful approach can come across as critical, that wasn’t the plan.

“The idea was not to attack the brands but to create something funny,” he said. “Funny things make people smile and when people are happy they are also more inclined to share or comment—this is what this social era is teaching us, to give an emotion is the most important thing, never mind if its positive or negative, the important thing is to make people feel something.”

He feels it’s important to comment on consumption through design. “I think people in general never like to read ‘technical informational stuff’ and the key could be to give them a message, by using a funny way to make them think about something which is very important.”

The series can still be seen as critical of consumption—and specifically the consumption of edible products, like fast food. “Smoking and drinking can be dangerous but not like eating the wrong way,” said Schembri. “A wrong diet can slowly ruin your life.”

But what about Schembri? After making a comment on all the products and their logos, does he eat McDonalds and drink Starbucks coffee? He is, after all, personally connected to the brands. “I’m not addicted,” he said. “But yes, sometimes it’s the fastest way to eat when you travel a lot.”

http://www.howdesign.com/design-business/design-news/famous-logos-affected-by-products/

12 Ways AI Will Disrupt Your C-Suite

McKinsey & Company estimates that as much as 45% of the tasks currently performed by people can be automated using existing technologies. If you haven’t made an effort to understand how artificial intelligence will affect your company, now is the time to start.

(Image: geralt via Pixabay)

(Image: geralt via Pixabay)

Artificial Intelligence (AI) is gaining momentum across industries with the help of companies such as IBM, Google, and Microsoft. McKinsey & Company estimates that as much as 45% of the tasks currently performed by people can be automated using current technologies — not only low-level rote tasks, but high-level knowledge work as well.

„Our point of view is that there is no function, no industry, almost no role that won’t potentially be affected by this set of technologies — not just every occupation, but every activity within each occupation,“ said Michael Chui, a partner with McKinsey Global Institute, in an interview. „It’s not just automating the labor that’s being done, but the work people do will have to change as well. Understanding how to take advantage of these technologies is going to be critically important.“

Even if your company isn’t actively experimenting with it, AI is finding its way in via online transactions and modern cyber-security systems, among other examples. As AI technologies and their use-cases start to take hold across industries, it’s time for the C-suite to pay attention.

If you haven’t made an effort to understand how AI will affect your company, now is the time to start.

The attitude of C-[suite] executives should be to add AI as a top strategic priority,“ said George Zarkadakis, digital lead at global professional services firm Willis Towers Watson and author of In Our Own Image: Savior or Destroyer? The History and Future of Artificial Intelligence, in an interview. „This time, technology will move faster than ever, and the laggards will pay a hefty price.“

Of course, the impact of AI is not limited to technological change and innovation. It also involves cultural evolution and, in some cases, revolution.

„Today’s leaders have time, as well as a responsibility, to understand what’s ahead of them before acting,“ said Deborah Westphal, CEO of strategic consulting and advisory firm Toffler Associates, in an interview. „It’s important to ask the hard questions, and then, using those insights, determine the best action for an organization.“

In short, AI is going to affect a lot of things in the near future, some of which have not yet been anticipated.

Organizational Intelligence Explodes 

Organizations are using AI to solve problems at scale. Michele Goetz, a principal analyst at Forrester Research, estimates that most organizations only take advantage of 10% to 30% of their data, with most of that still being structured, transactional information. 
'There's a difference in what AI technology is going to bring to the organization compared to what other technologies have brought,' said Goetz, in an interview. '[The C-suite executives] will have better visibility into market opportunities and [become aware of] threats faster. Because they can see their environment more holistically and clearly, they'll understand partners and customers better. It's [also] going to change the way employees work.'     
(Image: geralt via Pixabay)

Organizational Intelligence Explodes

Organizations are using AI to solve problems at scale. Michele Goetz, a principal analyst at Forrester Research, estimates that most organizations only take advantage of 10% to 30% of their data, with most of that still being structured, transactional information.

„There’s a difference in what AI technology is going to bring to the organization compared to what other technologies have brought,“ said Goetz, in an interview. „[The C-suite executives] will have better visibility into market opportunities and [become aware of] threats faster. Because they can see their environment more holistically and clearly, they’ll understand partners and customers better. It’s [also] going to change the way employees work.“

First-Mover Advantage 

The seeds of what some are calling The Exponential Age were planted long ago, manifesting themselves as exponential increases in processing power, storage capacity, bandwidth utilization, and -- as a result of all of that -- digital information. The same rule applies to machine learning.     
'True AI learns at an exponential rate, evolves and sometimes even rewrites better versions of itself,' said Walter O'Brien, founder and CEO of Scorpion Computer Services, in an interview. 'Because of this factor, the first company to market can also be the first to gather the most training data material -- for example, Google's Voice recognition on cell phones. The lessons learned can be encoded as heuristics or subtle guidelines which become the IP of the company -- for example, the definition of Google's relevance scores. This all creates a barrier to competition.'
Imagine cramming 250 years of human thinking into 90 minutes. Scorpion Computer Services' AI platform does that.
(Image: skeeze via Pixabay)

First-Mover Advantage

The seeds of what some are calling The Exponential Age were planted long ago, manifesting themselves as exponential increases in processing power, storage capacity, bandwidth utilization, and — as a result of all of that — digital information. The same rule applies to machine learning.

„True AI learns at an exponential rate, evolves and sometimes even rewrites better versions of itself,“ said Walter O’Brien, founder and CEO of Scorpion Computer Services, in an interview. „Because of this factor, the first company to market can also be the first to gather the most training data material — for example, Google’s Voice recognition on cell phones. The lessons learned can be encoded as heuristics or subtle guidelines which become the IP of the company — for example, the definition of Google’s relevance scores. This all creates a barrier to competition.“

Imagine cramming 250 years of human thinking into 90 minutes. Scorpion Computer Services‘ AI platform does that.

Employees May Lead The Charge 

AI is creeping into organizations in various ways, online and embedded in enterprise applications. The trend is accelerating, necessitating the C-suite's attention, since it will at some point noticeably affect corporate culture and business strategy. 
'The tipping point for the acceptance and widespread application of AI will not come from the C-suite, but from employees seeing the benefits of AI in their daily lives through applications like intelligent personal assistants and smart devices,' said Robert DeMaine, lead technology sector analyst at global advisory service company Ernst & Young (EY), in an interview. 'Like the [bring your own device] trend, employees will begin to use their own 'smart' personal productivity applications in the office, challenging the organization to reassess its policies. AI will change corporate culture from the bottom up, not the top down.' 
(Image: Broadmark via Pixabay)

Employees May Lead The Charge

AI is creeping into organizations in various ways, online and embedded in enterprise applications. The trend is accelerating, necessitating the C-suite’s attention, since it will at some point noticeably affect corporate culture and business strategy.

„The tipping point for the acceptance and widespread application of AI will not come from the C-suite, but from employees seeing the benefits of AI in their daily lives through applications like intelligent personal assistants and smart devices,“ said Robert DeMaine, lead technology sector analyst at global advisory service company Ernst & Young (EY), in an interview. „Like the [bring your own device] trend, employees will begin to use their own ’smart‘ personal productivity applications in the office, challenging the organization to reassess its policies. AI will change corporate culture from the bottom up, not the top down.“

Organizational Structures Will Shift 

Hierarchical organizational structures adversely affect business agility and the ability to drive value from data. Similarly, the lingering barriers between departments and business units limit a company's ability to derive additional types of value from data because data remains trapped in silos. 
'Projectized' organizations, which operate in a matrix environment, are better positioned to take full advantage of AI systems [than] vertical organizations are,' said Armen Kherlopian, VP of analytics and research at business process transformation company Genpact, in an interview. 'This is because these so-called projectized organizations can more readily gain access to resources and key business channels across the enterprise. Additionally, the levers associated with [business] value do not fit neatly into vertical groups.' 
Genpact estimates nearly $400 billion of digital investments were wasted globally in 2015 because of a failure to align expected results throughout organizations. 
(Image: geralt via Pixabay)

Organizational Structures Will Shift

Hierarchical organizational structures adversely affect business agility and the ability to drive value from data. Similarly, the lingering barriers between departments and business units limit a company’s ability to derive additional types of value from data because data remains trapped in silos.

„Projectized“ organizations, which operate in a matrix environment, are better positioned to take full advantage of AI systems [than] vertical organizations are,“ said Armen Kherlopian, VP of analytics and research at business process transformation company Genpact, in an interview. „This is because these so-called projectized organizations can more readily gain access to resources and key business channels across the enterprise. Additionally, the levers associated with [business] value do not fit neatly into vertical groups.“

Genpact estimates nearly $400 billion of digital investments were wasted globally in 2015 because of a failure to align expected results throughout organizations.

AI Requires Context 

AI systems need a lot of input to produce the appropriate output. Since each company, its culture, and its objectives are unique, AI systems need to be trained on those details in order to assist employees effectively, and to serve the needs of the organization accurately. Unlike traditional analytics systems, which can be built without regard to some of the softer organizational issues, AI requires organizations to be aware of the information they're bringing in and why they're bringing it in. 
'There is a clear trend towards machines becoming more intelligent so that humans can work more intelligently with them,' said George Zarkadakis. 'Although machines will increasingly gain more autonomy, they will do so within the human space and within human norms and ethics.' 
(Image: terg via Pixabay)

AI Requires Context

AI systems need a lot of input to produce the appropriate output. Since each company, its culture, and its objectives are unique, AI systems need to be trained on those details in order to assist employees effectively, and to serve the needs of the organization accurately. Unlike traditional analytics systems, which can be built without regard to some of the softer organizational issues, AI requires organizations to be aware of the information they’re bringing in and why they’re bringing it in.

„There is a clear trend towards machines becoming more intelligent so that humans can work more intelligently with them,“ said George Zarkadakis. „Although machines will increasingly gain more autonomy, they will do so within the human space and within human norms and ethics.“

Organizations Have To Adapt 

AI automates some tasks and assists with others, both displacing and complementing the work employees do. The C-suite needs to think about how the shifting division of labor can influence the way a company is managed and how it's organized.  
'AI is impacting many aspects of the business, from workflow management to advertising strategy. It can enable executives to make better, faster, and more accurate business decisions to streamline operations, allocate resources, understand market trends, and connect with customers,' said Robert DeMaine, lead technology sector analyst at EY. 'As a result, executives will need to be prepared to address a number of business issues, including reassessing internal operations, a changing workforce, sales and marketing strategies, and shifting investment priorities.'  
(Image: badalyanrazmik via Pixabay)

Organizations Have To Adapt

AI automates some tasks and assists with others, both displacing and complementing the work employees do. The C-suite needs to think about how the shifting division of labor can influence the way a company is managed and how it’s organized.

„AI is impacting many aspects of the business, from workflow management to advertising strategy. It can enable executives to make better, faster, and more accurate business decisions to streamline operations, allocate resources, understand market trends, and connect with customers,“ said Robert DeMaine, lead technology sector analyst at EY. „As a result, executives will need to be prepared to address a number of business issues, including reassessing internal operations, a changing workforce, sales and marketing strategies, and shifting investment priorities.“

It's Not All About Technology 

AI is gaining momentum as entrepreneurs, industry behemoths, and companies in-between bring AI products, tools, APIs, and services to market. However, as always, the successful application of technology isn't simply about technology. It's about technology, people, and processes.
'A company will be distinguished by how well it works using AI, and increasingly human-digital convergence, rather than by which specific AI technologies it chooses to deploy,' said Deborah Westphal, CEO of strategic consulting and advisory firm Toffler Associates. 'If a company only addresses the technological elements, without addressing the organizational people and process aspects, it may see a short-term gain, but will suffer in the longer term and likely be [sur]passed by those companies that addressed the internal questions first.'  
(Image: avtar via Pixabay)

It’s Not All About Technology

AI is gaining momentum as entrepreneurs, industry behemoths, and companies in-between bring AI products, tools, APIs, and services to market. However, as always, the successful application of technology isn’t simply about technology. It’s about technology, people, and processes.

„A company will be distinguished by how well it works using AI, and increasingly human-digital convergence, rather than by which specific AI technologies it chooses to deploy,“ said Deborah Westphal, CEO of strategic consulting and advisory firm Toffler Associates. „If a company only addresses the technological elements, without addressing the organizational people and process aspects, it may see a short-term gain, but will suffer in the longer term and likely be [sur]passed by those companies that addressed the internal questions first.“

Employee Empowerment Is Necessary 

Companies have worked toward democratizing the use of data analytics, enabling managers and employees to make better decisions faster. As the velocity of business continues to accelerate at scale with the help of AI, even more employee empowerment will be necessary.  
'AI and greater human-digital convergence magnify the strengths and weaknesses of an existing corporate culture, particularly with respect to how much autonomy is afforded to an organization's people,' said Deborah Westphal of Toffler Associates. 'Given a faster rate of change and near real-time environment in which to make decisions, an organization's people who don't have the necessary autonomy will find that its processes, no matter how good, will break down quickly and its ability to serve its customers [will be] compromised.'  
(Image: alan8197 via Pixabay)

Employee Empowerment Is Necessary

Companies have worked toward democratizing the use of data analytics, enabling managers and employees to make better decisions faster. As the velocity of business continues to accelerate at scale with the help of AI, even more employee empowerment will be necessary.

„AI and greater human-digital convergence magnify the strengths and weaknesses of an existing corporate culture, particularly with respect to how much autonomy is afforded to an organization’s people,“ said Deborah Westphal of Toffler Associates. „Given a faster rate of change and near real-time environment in which to make decisions, an organization’s people who don’t have the necessary autonomy will find that its processes, no matter how good, will break down quickly and its ability to serve its customers [will be] compromised.“

Learn By Doing  

Companies successfully using AI make a point of investing in people and talent. They also actively encourage innovation and experimentation so they can learn quickly from mistakes and capitalize on opportunities, hopefully faster than their competitors. 
'Hire talent that knows how to do this. Start experimenting with it and learn how to use it,' said Michael Chui, a partner with McKinsey Global Institute. 'I don't think this is something you plan for five years and then get started. It's something you learn by doing. When you see something working, the ability to scale is important.' 
(Image: janeb13 via Pixabay)

Learn By Doing

Companies successfully using AI make a point of investing in people and talent. They also actively encourage innovation and experimentation so they can learn quickly from mistakes and capitalize on opportunities, hopefully faster than their competitors.

„Hire talent that knows how to do this. Start experimenting with it and learn how to use it,“ said Michael Chui, a partner with McKinsey Global Institute. „I don’t think this is something you plan for five years and then get started. It’s something you learn by doing. When you see something working, the ability to scale is important.“

Expect The Unexpected 

AI should not be viewed as simply another technology acquisition, because different things are required to get it up and running successfully. Because the purpose of AI is to provide a superhuman analytic or problem-solving capacity, its training cannot be limited to executing mindlessly on a task.  
'You can't assume that how you train these systems is going to produce the results in the context you want them to be produced,' said Michele Goetz, a Forrester principal analyst. 'There has to be an emotional element [because] if you're introducing AI in your call center, you don't want to offend your customers.'
Because AI learns from itself, as well as from its human trainers, unexpected circumstances can arise which may be positive or negative.
(Image: geralt via Pixabay)

Expect The Unexpected

AI should not be viewed as simply another technology acquisition, because different things are required to get it up and running successfully. Because the purpose of AI is to provide a superhuman analytic or problem-solving capacity, its training cannot be limited to executing mindlessly on a task.

„You can’t assume that how you train these systems is going to produce the results in the context you want them to be produced,“ said Michele Goetz, a Forrester principal analyst. „There has to be an emotional element [because] if you’re introducing AI in your call center, you don’t want to offend your customers.“

Because AI learns from itself, as well as from its human trainers, unexpected circumstances can arise which may be positive or negative.

Pay Attention To Possibilities 

Data-driven companies, including IBM, Google, Microsoft, Amazon, and Netflix, are constantly pushing the envelope of what's possible in order to accelerate innovation, differentiate themselves, and, in some cases, cultivate communities that can extend the breadth and depth of AI techniques and use-cases. It's wise for C-suite executives to understand the kind of value AI can provide, and how that value might help the company achieve its strategic objectives.  
'Machine learning techniques are what make a company like Amazon truly successful. Being able to learn from historical data in order to recommend to a given shopper what [she] may buy next is a key differentiator. Yet, the real 'Deep Learning' techniques are still just emerging,' said Mike Matchett, senior analyst and consultant at storage analysis and consulting firm Taneja Group, in an interview. 'Google will not just win 'Go' championships, but will drive cars with [AI], optimize their data center with [AI], and in my opinion, will try to own the global optimization clearing house for the Internet of Things.'
(Image: como-esta via Pixabay)

Pay Attention To Possibilities

Data-driven companies, including IBM, Google, Microsoft, Amazon, and Netflix, are constantly pushing the envelope of what’s possible in order to accelerate innovation, differentiate themselves, and, in some cases, cultivate communities that can extend the breadth and depth of AI techniques and use-cases. It’s wise for C-suite executives to understand the kind of value AI can provide, and how that value might help the company achieve its strategic objectives.

„Machine learning techniques are what make a company like Amazon truly successful. Being able to learn from historical data in order to recommend to a given shopper what [she] may buy next is a key differentiator. Yet, the real ‚Deep Learning‘ techniques are still just emerging,“ said Mike Matchett, senior analyst and consultant at storage analysis and consulting firm Taneja Group, in an interview. „Google will not just win ‚Go‘ championships, but will drive cars with [AI], optimize their data center with [AI], and in my opinion, will try to own the global optimization clearing house for the Internet of Things.“

Change Is At Hand 

The composition of the C-suite is changing to take better advantage of data. Data-savvy executives are replacing their traditional counterparts, new roles are being created, and leaders generally are finding themselves under pressure to understand the value and impact of data, analytics, and machine learning.  
'As the C-suite becomes increasingly filled with analytical minds and more data scientists are hired, a cultural shift naturally takes place. Some of the new, fast-growing executive roles [include] chief data scientist, chief marketing technology officer, [and] chief digital officer. All are aligned with the growing demand and anticipation for AI,' said David O'Flanagan, CEO and cofounder of cloud platform provider Boxever.
At many levels, non-traditional candidates are displacing traditional roles. For example, the Society of Actuarial Professionals is actively promoting the fact that although most actuaries work in the insurance industry, there are non-traditional employment opportunities, including data analytics and marketing. O'Flanagan expects more members of the workforce to have backgrounds in fields of study such as econometrics.
(Image: geralt via Pixabay)

Change Is At Hand

The composition of the C-suite is changing to take better advantage of data. Data-savvy executives are replacing their traditional counterparts, new roles are being created, and leaders generally are finding themselves under pressure to understand the value and impact of data, analytics, and machine learning.

„As the C-suite becomes increasingly filled with analytical minds and more data scientists are hired, a cultural shift naturally takes place. Some of the new, fast-growing executive roles [include] chief data scientist, chief marketing technology officer, [and] chief digital officer. All are aligned with the growing demand and anticipation for AI,“ said David O’Flanagan, CEO and cofounder of cloud platform provider Boxever.

At many levels, non-traditional candidates are displacing traditional roles. For example, the Society of Actuarial Professionals is actively promoting the fact that although most actuaries work in the insurance industry, there are non-traditional employment opportunities, including data analytics and marketing. O’Flanagan expects more members of the workforce to have backgrounds in fields of study such as econometrics.

http://www.informationweek.com/big-data/12-ways-ai-will-disrupt-your-c–suite/d/d-id/1325557

Where TOP entrepreneurs Bill Gates and Elon Musk started as interns

Bill GatesYouTube/Gates NotesBill Gates

We take a look at 20 successful entrepreneurs — and where they worked as lowly interns (sometimes unpaid) before making it big.


1. Katia Beauchamp

The cofounder of cosmetics subscription service BirchBox interned at NBC Universal as a summer associate for digital distribution in 2010 — the same year she started her company while an MBA student at Harvard Business School.

2. Kayvon Beykpour

The CEO and co-founder of Periscope, the live video-streaming app, completed two internships before starting college in 2007. He was a summer intern at a media agency and then spent a year interning at software company Autodesk before getting a degree in computer science from Stanford University.

3. Neil Blumenthal

The Warby Parker co-founder and co-CEO was an intern for consulting firm McKinsey & Company in the summer of 2009. He started the eyewear company in 2010 while pursuing an MBA at the University of Pennsylvania’s Wharton School of Business.

REUTERS/Shannon Stapleton

4. Sean Combs

Better known as Puff Daddy, P.Diddy, or just Diddy, the hip-hop artist interned at Uptown Records in New York after dropping out of Howard University. He was eventually fired from the record label and started his own successful venture in 1993, Bad Boy Records.

Chip Somodevilla / Getty

5. Bill Gates

The billionaire and Microsoft founder had an interest in more than just technology from early on. He was a congressional page for his state legislature in Seattle and later a congressional page for the House of Representatives in 1973, at the age of 18.

Diane Bondareff/Invision for Staples/AP

6. Lori Greiner

The Shark Tank and QVC host started out as a journalist before jumping into entrepreneurship. She interned for The Chicago Tribune while still an undergraduate student at Loyola University Chicago.

Taylor Hill/Getty Images

7. Elizabeth Holmes

The controversial founder of Theranos interned at the Genome Institute in Singapore doing research on SARS the summer after her first year at Stanford University. Before completing her sophomore year, she dropped out to work full time on her health-tech startup.

Steve Jennings/Getty

8. Ryan Hoover

The founder of Product Hunt, a site that curates new products, started as a social-media marketing intern at e-gaming site InstantAction while still a student at Oregon University.

He rose to marketing analyst and product manager in 2010 before moving to mobile game startup PlayHaven and later starting his own venture in 2013.

Justin Sullivan / Getty

9. Steve Jobs

The Apple founder had a voracious hunger for knowledge since childhood. At 12, he cold-called Bill Hewlett asking for frequency counterparts. The Hewlett-Packard founder agreed to give him the parts and offered Jobs a summer internship at HP as well.

Paul Morigi/Getty Images

„Shark Tank“ investor Daymond John speaks on stage at the Thurgood Marshall College Fund 27th Annual Awards Gala at the Washington Hilton on November 16, 2015 in Washington, DC.

10. Daymond John

The ‚Shark Tank‘ host and founder of the hip-hop inspired clothing brand FUBU was an apprentice electrician working in the Bronx at 10 years old.

11. Betsey Johnson

The 73-year-old fashion designer and founder of her namesake fashion label started her career working for Mademoiselle magazine the summer after graduating from Syracuse University in 1964.

Sarah Jacobs

12. Payal Kadakia

In 2002, she started her first career in finance while still an undergraduate at MIT with a summer internship at investment bank J.P. Morgan. She interned at consulting company Monitor Group (now Monitor Deloitte) the following year. It wasn’t until 2011 that Kadakia founded her membership program for fitness classes, originally called Classtivity — now ClassPass.

13. Andy Katz-Mayfield

The co-founder of shaving company Harry’s started his career as a college intern at management consulting firm Bain & Company — where he met co-founder Jeff Raider. He later worked in marketing and business operations for the National Basketball Association. The duo launched Harry’s in 2013.

Getty / Steve Jennings

14. Max Levchin

The serial entrepreneur who co-founded PayPal, social app developer Slide, and online lending startup Affirm started his career in the Soviet Union. At 13, the Kiev native worked at a local college computer lab as a programmer in exchange for access to the computers after hours.

15. Shan-Lyn Ma

The co-founder of online wedding registry Zola and former senior director at Gilt Groupe was a marketing intern at Yahoo while pursuing her MBA degree at Stanford University. The Singapore-born entrepreneur also worked at an education startup while still an undergraduate at the University of New South Wales in Australia.

16. Kavin Mittal

Prior to becoming an entrepreneur, the founder of Delhi-based messaging app Hike Messenger held several internships while completing a master’s in electrical engineering at Imperial College London.

He was an associate vehicle engineer intern for McLaren Racing, an associate technology manager at Google, and a summer analyst at Goldman Sachs.

AP Photo/Jack Plunkett

17. Elon Musk

The billionaire entrepreneur and Tesla Motors founder held several internships before making it in the big leagues. He was a summer intern at the Bank of Nova Scotia, while still at Queens University in Ontario; an intern at Microsoft Canada; and a video game programmer for Rocket Science Games. Musk later moved to California to start a PhD in physics and interned at Pinnacle Research, an energy storage startup.

Lucas Jackson/Reuters Pictures

Snapchat CEO Evan Spiegel.

18. Evan Spiegel

The Snapchat founder and CEO worked as an unpaid intern for Red Bull after high school. Later, while completing a degree in product design at Stanford University, he interned at biotech company Abraxis BioScience and worked at software company Intuit.

Reuters/Philippe Wojazer

19. Kevin Systrom

The Instagram co-founder and CEO worked as a technical and business intern at podcasting platform startup Odeo — created by Evan Williams and Noah Glass, who later cofounded Twitter — where he created the Odeo Widget and „otherwise caused trouble.“ He was still an undergraduate at Stanford University at the time.

Gary Vaynerchuk

20. Gary Vaynerchuk

The VaynerMedia founder and #AskGaryVee Show and DailyVee host started out his career bagging ice for $2 an hour in the basement of his family store, Shopper’s Discount Liquors.

He later transformed it into the successful retailer Wine Library before launching his social-media consulting agency and YouTube series.

http://www.businessinsider.com/where-bill-gates-elon-musk-and-18-more-successful-entrepreneurs-started-as-interns-2016-5

10 Principles of Change Management

Tools and techniques to help companies transform quickly.

Way back when (pick your date), senior executives in large companies had a simple goal for themselves and their organizations: stability. Shareholders wanted little more than predictable earnings growth. Because so many markets were either closed or undeveloped, leaders could deliver on those expectations through annual exercises that offered only modest modifications to the strategic plan. Prices stayed in check; people stayed in their jobs; life was good.

Market transparency, labor mobility, global capital flows, and instantaneous communications have blown that comfortable scenario to smithereens. In most industries — and in almost all companies, from giants on down — heightened global competition has concentrated management’s collective mind on something that, in the past, it happily avoided: change. Successful companies, as Harvard Business School professor Rosabeth Moss Kanter told s+b in 1999, develop “a culture that just keeps moving all the time.”

This presents most senior executives with an unfamiliar challenge. In major transformations of large enterprises, they and their advisors conventionally focus their attention on devising the best strategic and tactical plans. But to succeed, they also must have an intimate understanding of the human side of change management — the alignment of the company’s culture, values, people, and behaviors — to encourage the desired results. Plans themselves do not capture value; value is realized only through the sustained, collective actions of the thousands — perhaps the tens of thousands — of employees who are responsible for designing, executing, and living with the changed environment.

Long-term structural transformation has four characteristics: scale (the change affects all or most of the organization), magnitude (it involves significant alterations of the status quo), duration (it lasts for months, if not years), and strategic importance. Yet companies will reap the rewards only when change occurs at the level of the individual employee.

Many senior executives know this and worry about it. When asked what keeps them up at night, CEOs involved in transformation often say they are concerned about how the work force will react, how they can get their team to work together, and how they will be able to lead their people. They also worry about retaining their company’s unique values and sense of identity and about creating a culture of commitment and performance. Leadership teams that fail to plan for the human side of change often find themselves wondering why their best-laid plans have gone awry.

No single methodology fits every company, but there is a set of practices, tools, and techniques that can be adapted to a variety of situations. What follows is a “Top 10” list of guiding principles for change management. Using these as a systematic, comprehensive framework, executives can understand what to expect, how to manage their own personal change, and how to engage the entire organization in the process.

1. Address the “human side” systematically. Any significant transformation creates “people issues.” New leaders will be asked to step up, jobs will be changed, new skills and capabilities must be developed, and employees will be uncertain and resistant. Dealing with these issues on a reactive, case-by-case basis puts speed, morale, and results at risk. A formal approach for managing change — beginning with the leadership team and then engaging key stakeholders and leaders — should be developed early, and adapted often as change moves through the organization. This demands as much data collection and analysis, planning, and implementation discipline as does a redesign of strategy, systems, or processes. The change-management approach should be fully integrated into program design and decision making, both informing and enabling strategic direction. It should be based on a realistic assessment of the organization’s history, readiness, and capacity to change.

2. Start at the top. Because change is inherently unsettling for people at all levels of an organization, when it is on the horizon, all eyes will turn to the CEO and the leadership team for strength, support, and direction. The leaders themselves must embrace the new approaches first, both to challenge and to motivate the rest of the institution. They must speak with one voice and model the desired behaviors. The executive team also needs to understand that, although its public face may be one of unity, it, too, is composed of individuals who are going through stressful times and need to be supported.

Executive teams that work well together are best positioned for success. They are aligned and committed to the direction of change, understand the culture and behaviors the changes intend to introduce, and can model those changes themselves. At one large transportation company, the senior team rolled out an initiative to improve the efficiency and performance of its corporate and field staff before addressing change issues at the officer level. The initiative realized initial cost savings but stalled as employees began to question the leadership team’s vision and commitment. Only after the leadership team went through the process of aligning and committing to the change initiative was the work force able to deliver downstream results.

3. Involve every layer. As transformation programs progress from defining strategy and setting targets to design and implementation, they affect different levels of the organization. Change efforts must include plans for identifying leaders throughout the company and pushing responsibility for design and implementation down, so that change “cascades” through the organization. At each layer of the organization, the leaders who are identified and trained must be aligned to the company’s vision, equipped to execute their specific mission, and motivated to make change happen.

A major multiline insurer with consistently flat earnings decided to change performance and behavior in preparation for going public. The company followed this “cascading leadership” methodology, training and supporting teams at each stage. First, 10 officers set the strategy, vision, and targets. Next, more than 60 senior executives and managers designed the core of the change initiative. Then 500 leaders from the field drove implementation. The structure remained in place throughout the change program, which doubled the company’s earnings far ahead of schedule. This approach is also a superb way for a company to identify its next generation of leadership.

4. Make the formal case. Individuals are inherently rational and will question to what extent change is needed, whether the company is headed in the right direction, and whether they want to commit personally to making change happen. They will look to the leadership for answers. The articulation of a formal case for change and the creation of a written vision statement are invaluable opportunities to create or compel leadership-team alignment.

Three steps should be followed in developing the case: First, confront reality and articulate a convincing need for change. Second, demonstrate faith that the company has a viable future and the leadership to get there. Finally, provide a road map to guide behavior and decision making. Leaders must then customize this message for various internal audiences, describing the pending change in terms that matter to the individuals.

A consumer packaged-goods company experiencing years of steadily declining earnings determined that it needed to significantly restructure its operations — instituting, among other things, a 30 percent work force reduction — to remain competitive. In a series of offsite meetings, the executive team built a brutally honest business case that downsizing was the only way to keep the business viable, and drew on the company’s proud heritage to craft a compelling vision to lead the company forward. By confronting reality and helping employees understand the necessity for change, leaders were able to motivate the organization to follow the new direction in the midst of the largest downsizing in the company’s history. Instead of being shell-shocked and demoralized, those who stayed felt a renewed resolve to help the enterprise advance.

5. Create ownership. Leaders of large change programs must overperform during the transformation and be the zealots who create a critical mass among the work force in favor of change. This requires more than mere buy-in or passive agreement that the direction of change is acceptable. It demands ownership by leaders willing to accept responsibility for making change happen in all of the areas they influence or control. Ownership is often best created by involving people in identifying problems and crafting solutions. It is reinforced by incentives and rewards. These can be tangible (for example, financial compensation) or psychological (for example, camaraderie and a sense of shared destiny).

At a large health-care organization that was moving to a shared-services model for administrative support, the first department to create detailed designs for the new organization was human resources. Its personnel worked with advisors in cross-functional teams for more than six months. But as the designs were being finalized, top departmental executives began to resist the move to implementation. While agreeing that the work was top-notch, the executives realized they hadn’t invested enough individual time in the design process to feel the ownership required to begin implementation. On the basis of their feedback, the process was modified to include a “deep dive.” The departmental executives worked with the design teams to learn more, and get further exposure to changes that would occur. This was the turning point; the transition then happened quickly. It also created a forum for top executives to work as a team, creating a sense of alignment and unity that the group hadn’t felt before.

6. Communicate the message. Too often, change leaders make the mistake of believing that others understand the issues, feel the need to change, and see the new direction as clearly as they do. The best change programs reinforce core messages through regular, timely advice that is both inspirational and practicable. Communications flow in from the bottom and out from the top, and are targeted to provide employees the right information at the right time and to solicit their input and feedback. Often this will require overcommunication through multiple, redundant channels.

In the late 1990s, the commissioner of the Internal Revenue Service, Charles O. Rossotti, had a vision: The IRS could treat taxpayers as customers and turn a feared bureaucracy into a world-class service organization. Getting more than 100,000 employees to think and act differently required more than just systems redesign and process change. IRS leadership designed and executed an ambitious communications program including daily voice mails from the commissioner and his top staff, training sessions, videotapes, newsletters, and town hall meetings that continued through the transformation. Timely, constant, practical communication was at the heart of the program, which brought the IRS’s customer ratings from the lowest in various surveys to its current ranking above the likes of McDonald’s and most airlines.

7. Assess the cultural landscape. Successful change programs pick up speed and intensity as they cascade down, making it critically important that leaders understand and account for culture and behaviors at each level of the organization. Companies often make the mistake of assessing culture either too late or not at all. Thorough cultural diagnostics can assess organizational readiness to change, bring major problems to the surface, identify conflicts, and define factors that can recognize and influence sources of leadership and resistance. These diagnostics identify the core values, beliefs, behaviors, and perceptions that must be taken into account for successful change to occur. They serve as the common baseline for designing essential change elements, such as the new corporate vision, and building the infrastructure and programs needed to drive change.

8. Address culture explicitly. Once the culture is understood, it should be addressed as thoroughly as any other area in a change program. Leaders should be explicit about the culture and underlying behaviors that will best support the new way of doing business, and find opportunities to model and reward those behaviors. This requires developing a baseline, defining an explicit end-state or desired culture, and devising detailed plans to make the transition.

Company culture is an amalgam of shared history, explicit values and beliefs, and common attitudes and behaviors. Change programs can involve creating a culture (in new companies or those built through multiple acquisitions), combining cultures (in mergers or acquisitions of large companies), or reinforcing cultures (in, say, long-established consumer goods or manufacturing companies). Understanding that all companies have a cultural center — the locus of thought, activity, influence, or personal identification — is often an effective way to jump-start culture change.

A consumer goods company with a suite of premium brands determined that business realities demanded a greater focus on profitability and bottom-line accountability. In addition to redesigning metrics and incentives, it developed a plan to systematically change the company’s culture, beginning with marketing, the company’s historical center. It brought the marketing staff into the process early to create enthusiasts for the new philosophy who adapted marketing campaigns, spending plans, and incentive programs to be more accountable. Seeing these culture leaders grab onto the new program, the rest of the company quickly fell in line.

9. Prepare for the unexpected. No change program goes completely according to plan. People react in unexpected ways; areas of anticipated resistance fall away; and the external environment shifts. Effectively managing change requires continual reassessment of its impact and the organization’s willingness and ability to adopt the next wave of transformation. Fed by real data from the field and supported by information and solid decision-making processes, change leaders can then make the adjustments necessary to maintain momentum and drive results.

A leading U.S. health-care company was facing competitive and financial pressures from its inability to react to changes in the marketplace. A diagnosis revealed shortcomings in its organizational structure and governance, and the company decided to implement a new operating model. In the midst of detailed design, a new CEO and leadership team took over. The new team was initially skeptical, but was ultimately convinced that a solid case for change, grounded in facts and supported by the organization at large, existed. Some adjustments were made to the speed and sequence of implementation, but the fundamentals of the new operating model remained unchanged.

10. Speak to the individual. Change is both an institutional journey and a very personal one. People spend many hours each week at work; many think of their colleagues as a second family. Individuals (or teams of individuals) need to know how their work will change, what is expected of them during and after the change program, how they will be measured, and what success or failure will mean for them and those around them. Team leaders should be as honest and explicit as possible. People will react to what they see and hear around them, and need to be involved in the change process. Highly visible rewards, such as promotion, recognition, and bonuses, should be provided as dramatic reinforcement for embracing change. Sanction or removal of people standing in the way of change will reinforce the institution’s commitment.

Most leaders contemplating change know that people matter. It is all too tempting, however, to dwell on the plans and processes, which don’t talk back and don’t respond emotionally, rather than face up to the more difficult and more critical human issues. But mastering the “soft” side of change management needn’t be a mystery.

Author Profiles:

  • John Jones is a vice president with Booz Allen Hamilton in New York. Mr. Jones is a specialist in organization design, process reengineering, and change management.
  • DeAnne Aguirre (deanne.aguirre@strategyand.us.pwc.com) is an advisor to executives on organizational topics for Strategy&, PwC’s strategy consulting business, and a principal with PwC US. Based in San Francisco, she specializes in culture, leadership, talent effectiveness, and organizational change management.
  • Matthew Calderone is a senior associate with Booz Allen Hamilton in the New York Office. He specializes in organization transformation, people issues, and change management.

http://www.strategy-business.com/article/rr00006?gko=643d0

Definition of Change Management

A useful definition of change management that I use is:

‚the coordination of a structured period of transition from situation A to situation B in order to achieve lasting change within an organization‘.
(BNET Business Dictionary)

To help you in your search for a definition of change management here are others I’ve found to be useful:

The systematic approach and application of knowledge, tools and resources to deal with change. Change management means defining and adopting corporate strategies, structures, procedures and technologies to deal with changes in external conditions and the business environment.
SHRM Glossary of Human Resources Terms, http://www.shrm.org.

Change management is the process, tools and techniques to manage the people-side of business change to achieve the required business outcome, and to realize that business change effectively within the social infrastructure of the workplace.
Change Management Learning Center

Change Management: activities involved in (1) defining and instilling new values, attitudes, norms, and behaviors within an organization that support new ways of doing work and overcome resistance to change; (2) building consensus among customers and stakeholders on specific changes designed to better meet their needs; and (3) planning, testing, and implementing all aspects of the transition from one organizational structure or business process to another.
http://www.gao.gov/special.pubs/bprag/bprgloss.htm

…a systematic approach to dealing with change, both from the perspective of an organization and on the individual level…proactively addressing adapting to change, controlling change, and effecting change.
Case Western Reserve University

Change management is a systematic approach to dealing with change, both from the perspective of an organization and on the individual level.
searchsmb.com

Change Management is an organized, systematic application of the knowledge, tools, and resources of change that provides organizations with a key process to achieve their business strategy.
Lamarsh

The systematic management of a new business model integration into an organization and the ability to adapt this change into the organization so that the transformation enhances the organizational relationships with all its constituents.
bitpipe.com

Change Management: the process, tools and techniques to manage the people-side of change processes, to achieve the required outcomes, and to realize the change effectively within individuals, teams, and the wider systems.

Change management is a structured approach to transitioning individuals, teams, and organizations from a current state to a desired future state. The current definition of Change Management includes both organizational change management processes and individual change management models, which together are used to manage the people side of change.
Wikipedia

Minimizing resistance to organizational change through involvement of key players and stakeholders.
BusinessDictionary.com

Change management is a style of management that aims to encourage organizations and individuals to deal effectively with the changes taking place in their work.
English Collins Dictionary

quote: http://www.change-management-coach.com/definition-of-change-management.html