The first of the internal exponential attributes is Interfaces. In Chapter 4 of Exponential Organizations you can read more about this.
Interfaces bridge the external and internal attributes, they take all the data created by the SCALE attributes and make sense of this internally. Interfaces ensure maximum efficiency and give stakeholders the ability to automate processes. It is for this reason that interfaces are mission critical for ExO’s to scale.
A good example of an effective interface as described in Exponential Organisations is that of the Apple App Store. The App Store allows the nine million strong developer network to develop apps and submit these automatically to the App Store, these are ranked and categorised automatically and this has allowed Apple to scale the App Store to where it is now. From January to June 2018 Revenue generated by App developers was over $100 Billion.
Interfaces are required to manage abundance, mainly to filter and match. The thinking that is required is quite different to the business processes that are put in place to manage scarcity and efficiency.
Exponential Transformation indicates 6 steps to implement Interfaces within your business:
- Identify the sources of abundance you are Accessing
- Humanise the interaction to define the right UX or automate the interaction to define the right API
- Create standardised processes
- Apply algorithms to automate processes
- Test interfaces with pilot populations
- Update interfaces regularly
Some questions that you can ask to ensure that your interfaces will be successful are:
- Will the interface allow the business to Scale
- Do the interfaces create value?
- Can all of the SCALE attributes be enables with interfaces?
- Is the effectiveness of algorithms and automated workflows being measured?
- Are interfaces engaging users?
The interfaces that you create for your ExO are most likely going to be specific for your company. You need to look at what can be automated and how the abundance of information needs to be filtered and matched best to optimise your business process. Look at the interfaces of Google Adwords, Airbnb, Uber, etc. to get a better understanding and get going on creating interfaces that optimise the abundance outside of your organisation allowing you to scale.
If you find this helpful then comment and share this with people in your network. If more organisations can tap into abundance we can ensure that we improve the planet for all!
On Thursday the 20th of September Exponential Transformation a follow up to Exponential Organisations will be launched, with the book being officially released on the 25th of September. This is your opportunity to be a part of the launch and to be at the forefront of 21st century business practice. ExO Lever will be hosting a virtual book launch and you can join. Click here to register! Both Salim Ismail and Peter Diamandis will be speaking at this event.
Exponential Transformation outlines the sprint process that was developed to assist corporates in implementing the Exponential Organisational framework. This is a fancy way of saying that this is the book that will transform your organisation and allow you to thrive. The ecosystem know that the way for us to make a massive impact on the planet is to give everyone the tools to be able to implement this methodology.
If you you run an organisation and want to take advantage of exponential technologies and have a 10X improvement, then I highly recommend that you join the book launch and learn about how you can take your organisation to the next level.
Follow the Book on Twitter or visit http://www.exponentialtransformationbook.com/
Engagement is the fifth and final external Attribute in the SCALE acronym. In Chapter 3 of Exponential Organizations you can read more about this and I suggest taking a look at the open source tool developed by the ExO Ecosystem.
Engagement is a way of enabling collaborative human behaviour – social behaviour – to come into play. Through engagement collaborative individuals can do what large organisations once did. It is a vital tool and comes fairly naturally when individuals resonate with an organisations MTP. Having a powerful MTP is vital for having an engaged community. Other ways that an organisation can engage is through:
- Ranking transparency
- Self-efficiency (sense of control, agency and impact)
- Peer pressure (social comparison)
- Eliciting positive emotions to drive long-term behavioural change
- Instant feedback (short feedback cycles)
- Clear, authentic rules, goals and rewards
- Virtual currencies or points
Whilst these engagement tools are for the external ecosystem they can be used for internal employee engagement.
This is a technique that can be used to increase engagement. Gamification is the process of adding a gaming element to your interaction with your community. It is vitally important that this is well implemented and thought through.
Leverage the following game techniques:
- Dynamics: Motivate behaviour through scenarios, rules and progression
- Mechanics: Help achieve goals through teams, competitions, rewards and feedback
- Components: Track progress through quests, points, levels, badges and collections
These are competitions that move people from the crowd into the community. Incentive competitions leverage the community to come up with breakthrough ideas to solve challenges within an organisation. Competitions of this nature have been used for centuries although it was the Ansari X Prize that elevated incentive prizes into the exponential realm. An incentive prize needs create a clear, measurable and objective goal and offers a cash purse for the team that is able to reach the objective. If you want to run an incentive competition you can do this yourself or leverage a platform such as HeroX. Check out the video course that Peter Diamandis put together on designing a successful incentive competition.
Engaging the community and crowd is not a simple task but with a great MTP and the implementation of the tools discussed in this blog it is most definitely possible.
Business Leaders from the 80’s and 90’s will be the first to tell you that in the last 38 years business as usual has been rather unusual. The organisation has changed dramatically a few times and at a pace that has been much more rapid than ever before. The lifespan of top companies (Fortune 500, S&P 200, FTSE 100, etc.) has been declining with the rise of tech companies which are now some of the most valuable companies in the world.
Organisations have changed from large people centred ecosystems to ecosystems which are a mixture of technology and people. With the rise of AI and Robotics the outlook is that the technology portion of the organisation will continue to rise. Simple repetitive task will be able to be replaced by computers opening up the opportunity for much more efficient production of work and therefore a lower cost of the goods or services produced.
Whilst we gather more and more data from devices we must make sure that we do not forget about the human element of the equation. Humans remain a vital part of the ecosystem of an organisation and it is more important than ever for the ecosystem to be understood by all the participants within the ecosystem.
If we look out to 2030, 2050 or 2100 what will the organisation look like? Will companies be completely decentralised and distributed? Will be have full time employment? Will education look the same or will we continuously learn and re-skill? These are all questions to consider. We do not have a crystal ball and therefore cannot make an exact determination but I highly recommend that you think about these questions and continue to learn more.
I recently attended a webinar with Peter Diamandis and Kai-Fu Lee where they spoke about Dr Lee’s new book AI Superpowers. Dr Lee shared these very interesting diagrams about AI’s impact on certain job roles. I have seen this before in a TED talk that he gave. What do you think, is this correct? How can you take advantage of this in your business?
Leveraged Assets is the fourth Attribute in the SCALE acronym. In Chapter 3 of Exponential Organizations you can read more about this and I suggest taking a look at the open source tool developed by the ExO Ecosystem.
The idea behind leveraged assets is to take advantage of spare capacity that exists in the new collaborative consumptive world that we now find ourselves in. Leveraging assets of others is more cost effective and allows for scaling. Both physical and digital assets can be leveraged and there is no reason that businesses do not take advantage of this.
From a digital point of view you can leverage the following:
- Server capacity using AWS, Google, Azure, etc.
- AI and machine learning capacity using Watson, AWS, TensorFlow, etc.
- VR environments such as AltSpace or High Fidelity
- What other digital assets can be leveraged?
Physical assets that can be leveraged include office space, vehicles, equipment etc.
You can see how easy it is to leverage assets and therefore reduce the fixed costs that you have in running your business. You can take this to the next level and turn leveraged assets into your business model but that is not a requirement. Of course AirBnB, Uber and many other companies have in fact taken the leveraged assets idea to the next level turning it into their business model.
I encourage you to think outside the box, is there a way for you to leverage assets in an innovative way? Is there a way to leverage the asset of the community that you have build around your MTP? At this stage leveraged assets may seem to morph with Staff on Demand as intellect and services offered by people may be seen as an asset.
Are you using leveraged assets to grow your business?