Mobile App Development in Highly Regulated Industries: Risks, Rewards, and Recipes
Mobile computing has the potential to be as disruptive to the status quo as the introduction of the modern Internet in the 1990s or the Model T was nearly 100 years ago. Organizations need to not only understand the risks of mobile computing, but develop strategies to incorporate it before it fatally disrupts their current business model. Some of the rewards of a well thought out mobile strategy include increasing revenues or new revenue streams, greater brand awareness and customer loyalty, and a new set of tools to increase employee productivity. Firms in highly regulated industries face an even more complex set of challenges when considering how to approach the mobile space. Highly regulated industries have additional constraints for developing mobile software because of the additional layer(s) of regulation that dictate the protection and communication of information. It is important for these businesses to implement comprehensive security solutions that go beyond standard industry regulatory systems. Since regulations always lag behind technological advancement, organizations should think more proactively about how their actions might trigger future legislative responses and how their actions impact the user’s expectations of privacy and trust. Although there are risks associated with an organization’s increased use of mobile devices, the rewards that could flow from developing, implementing, and continuously iterating upon a coherent mobile strategy are enormous. In a Pew Research Center study, 63% of adult cell phone owners use their cell phone to go online, 34% said they do most of their internet browsing on their mobile phone. It would be detrimental to the long-term viability of an organization to ignore such trends. Traditional linear modes of developing strategy will not be sufficient or flexible enough to keep up with the rate of innovation in mobile hardware, software, and mobile operating systems. Design thinking has grown beyond just a methodology for developing software products and experiences and now a growing amount of managers are using design thinking as a means of developing business strategy. This non-linear mode of strategy development is better suited for building a mobile strategy as it will provide greater insight into the needs and desires of end users, foster innovative and creative solutions, and provide greater flexibility to adapt to the changing circumstances caused by the disruptive forces of the mobile revolution. This enables the Chief Information Officer (CIO) to provide greater leadership that leads to both internal and external innovative opportunities for mobile strategy development.
An organization’s ability to compete and continuously renew itself is contingent upon how well it leverages the idea creators in its midst. When organizations fail to leverage their employees' ideas and when employees stumble in their ability to effectively manage those ideas, the loss of energy at all levels – from individuals to organizations and even to society – is tremendous. In this presentation, I will outline how to drive change within organizations through a focus on intrapreneurship. Intrapreneurship-focused organizations give employees resources, time, and budgets to work on their own ideas because they know that creating space for their employees to be inventive may yield the most valuable contributions. Moreover, these organizations do not simply give employees space and then forget about them. They know how to hold employees accountable for their ideas, support employees in their efforts to develop and commercialize ideas, and encourage the intrapreneurial spirit. Drawing on my research and experience consulting with thirty global organizations, I outlines ways to manage all types of ideas, including blockbusters with the potential to create radically new external products and services, and more incremental innovations for improving internal processes. With practical frameworks and real life examples for both employees and managers, I will help you to identify the value in your own ideas and those of others to ultimately benefit your organization. In today’s competitive environment, an organization is only as good as its ability to manage ideas. Successful organizations will be able to design, build, implement, and sustain intrapreneurship processes that are superior to those of their competitors. It is through these processes that organizations will be able to act quickly and effectively to introduce new products and services, avoid blind spots, and attract and retain the best minds around.
Have you ever struggled with getting the best from your employees? If you have spent even minimal time managing people, your answer is probably going to be 'yes.' Managers often struggle with getting their employees to give their best or to punch above their weight. This topic has been a focus of many dissertations, books, and pundit advice sessions. Among the multitude of reasons why managers struggle with their employees, I submit one of the most critical: most managers lack capabilities to leverage their employee's ideas. Based on my research and consulting with over 30 global organizations (see Intrapreneurship: Managing Ideas Within Your Organization), here are five simple good habits to internalize , if you want to get the best from your employees and their talent.
First, design an idea-friendly environment for your employees.
Second, be an advocate for your employee's ideas.
Third, connect your employee to networks that can harness their ideas.
Fourth, collaborate with your employees on experimenting with their ideas.
Fifth, mobilize your networks to support the diffusion of your employee's ideas and expertise.
P.S. This is an excerpt of an article that I am writing for a magazine. For more details, send me an email.
As the year wraps up, I have been taking time to relax, reflect, and plan for 2012. I have been always intrigued by the questions we ask ourselves when we reflect. Questions, and our ability to engaging in the questioning process, both introspectively and with others, is critical for the development of our cognitive, emotional, and spiritual capacities.
I have entered into an agreement with the management team of iHear Network to join their advisory board. I am excited to help iHear Network realize their vision of developing an innovative app for smart phones. The iHear app uses text-to-speech integration to connect users to relevant stories, news, and conversations. iHear Network recently appointed Paul Simons, a former University of WashingtoniSchool graduate student of mine, to serve as the CEO. Please click here for the press release - iHear Network Press Release.