Freedom after the sharks

Business today is subject to the rapid exhaustion of constant change, and constant change seems to be affecting leadership to its limits. Windows of opportunity are shorter and companies are forced out of business quicker.

If we revisit the 1950’s, the average life of a company was just over 60 years. Today it is less than 20 years. According to a recent study by Credit Suisse, disruptive technology is the reason for the constant decline in company life longevity.

However, disruptive technologies are not a new phenomenon. The credit card, the microwave oven, transistor radio, television, computer hard disks, solar cells, optic fibre, plastic and the microchip were all introduced in the 1950s.

It is not technology that explains the failure and costly investments to business; it is less about technology and more about leaders’ failure to envision the future of their business as the world changes around them. It is the result of short-sightedness, an inability to see the future, adapt and lead a focused strategy with flexibility in a changing world.

For humans to be effective, productive and innovative, we must have great leaders who also focus on making trust, humility, accountability, experimentation, collaboration, digitization, innovation within a commercially astute context, a way of organizational life. Doing this ensures that their people and their company constantly deliver increased value for customers.
It also ensures that in the future of work, they drive success within their ever-expanding areas of influence and responsibility, to flow and flourish in uncertain times.

The purpose of a company is not just to make money but to pursue a just cause, we can all remember the words of Henry Ford when he said ‘A business that makes nothing but money is a poor kind of business.’

Purpose is the very reason to have the business. It’s not marketing. It’s not a recruiting tool. It’s not something you just write on your website. It’s not a corporate social responsibility program. It’s the very reason why you started the business in the first place, and it has nothing to do with money.

To be truly purpose-driven, the most senior leader in an organisation will still see themselves as subservient to a higher purpose not to another human being, but to an ideal. We are in service of those ideals, and although we will never actually achieve them, we will die trying, which is the point. It’s about progress, not just prosperity. Prosperity is counting what comes in; progress is counting how far we’ve moved down a purposeful path. The people who work at truly purpose-driven organisations feel like they have a belonging, that this is their calling and it has nothing to do with the business or the product.

Companies exist to advance, innovation, technology, quality of life or something else with the potential to ease or enhance our lives in some way, shape or form. That people are willing to pay money for whatever a company has to offer is simply proof that they perceive or derive some value from those things. Which means the more value a company offers, the more money and the more advancement the company will have for further progression.

Capitalism has to be more about prosperity, about progress.

We have all seen the increase in certain practices that drive stock price value in the short term, all these deals certainly sound ethically dubious. At a point of fact, laws, regulations and ethical conduct normally are an output of bad practices, not by policing them in advance of conduct.

The importance of business ethics reaches far beyond employee loyalty and morale or the strength of a management team bond. As with all business initiatives, the ethical operation of a company is directly related to profitability in both the short and long term. The reputation of a business in the surrounding community, other businesses, and individual investors is paramount in determining whether a company is a worthwhile investment. If a company is perceived to not operate ethically, investors are less inclined to buy stock or otherwise support its operations.

Technology companies like Facebook, Twitter and Google, certainly look like they are more relaxed at asking for forgiveness across ethical misconduct than leading the charge with a fundamental view of how they safeguard one of their most important assets; our private data. You could question how can these company’s operate without such an accountable and responsible view?

The responsibility of business is to use its will and resources to advance a cause greater than itself, protect the people and places in which it operates and generate more resources so that it can continue doing all those things for as long as possible. An organisation can do whatever it likes to build its business so long as it is responsible for the consequences of its actions.

Leadership is the lifeblood of an organization. When leaders create safe environments at work, everyone thrives and devotion is the natural response to those conditions. Toxic cultures breed cynicism, paranoia, and self-interest.

The responsibility of a company is to serve the customer. The responsibility of leadership is to serve their people so that their people may better serve the customer. If leaders fail to serve their people first, customer and company will suffer.

The management team sets the tone for how the entire company runs on a day-to-day basis. When the prevailing management philosophy is based on ethical practices and behaviour, leaders within an organisation can direct employees by example and guide them in making decisions that are not only beneficial to them as individuals, but also to the organisation as a whole.

Building on a foundation of ethical behaviour helps create long-lasting purposeful effects for a company, including the ability to attract and retain highly talented individuals, and building and maintaining a purposeful reputation within the community.

Running a business in an ethical manner from the top down builds a stronger bond between individuals on the management team, further creating stability within the company.

Finally, globally successful entrepreneurs are emerging as exciting, courageous and authentic new role models demonstrating many of the vital qualities required for effective 21st-century leadership and in the future of work.

This is because they are re-inventing how to engage in the art of applying entrepreneurship and intrapreneurship practices to harness potential and mobilize human energy towards creating a better future.

This suggests that 21st-century leadership learning programs are most effective when they focus on cultivating new mindsets, creative, critical and foresight thinking strategies. That develops the ability to anticipate, adapt and cultivate new behaviours and take intelligent actions.

As Klaus Schwab a German engineer and economist once said:

“Technology is not an exogenous force over which we have no control. We are not constrained by a binary choice between “accept and live with it” and “reject and live without it”. Instead, take dramatic technological change as an invitation to reflect on who we are and how we see the world. The more we think about how to harness the technology revolution, the more we will examine ourselves and the underlying social models that these technologies embody and enable, and the more we will have an opportunity to shape the revolution in a manner that improves the state of the world.”

In January 2019, I wrote a blog ‘Are we too busy to connect to real people? – this blog had more significant views than any single blog I have ever written in the last 7 years, and there have been a ‘few’: a total of 560 blogs across topics.

My engagement in the subject and some alarming statistics, not to mention mental health awareness, made me think that we all should start to understand the need for more human to human interaction and fulfilment from others, our work, our loved ones, our friends and importantly why we need to make time for each other.

A decade ago, smart devices promised to change the way we think and interact, and they have, but not by making us smarter. I now explore the growing body of scientific evidence that digital distraction is damaging our minds.

Today, it is estimated that more than 5 billion people have mobile devices, and over half of these connections are smartphones and it’s changing the way we do countless things, from taking photos to summoning taxis.

A recent report from Hitachi Vantara in collaboration with MIT, ‘From innovation to monetization: The economics of data-driven transformation’ cites the exponential growth in ‘big data’, arising from the multiplicity of data sources from sensors, edge devices and other connected devices. It cites expert estimates that 2.5 quintillion bytes of data are generated every day, piling up to over 44 trillion gigabytes by 2020.

A statement from IDC on the same subject “150 billion systems and devices will be connected across the globe by 2025”

Smartphones have also changed us, culturally and in our behaviour – changed our natures in elemental ways, reshaping the way we think and interact. For all their many conveniences, it is here, in the way they have changed not just industries or habits but people themselves.

The evidence for this is research by psychiatrists, neuroscientists, marketers and public health experts. What these people say – and what their research shows – is that smartphones are causing real damage to our minds and relationships, measurable in seconds shaved off the average attention span, reduced brain power, declines in work-life balance and hours less of family and friends time.

They have impaired our ability to remember. They make it more difficult to daydream and think creatively. They make us more vulnerable to anxiety. They make parents ignore their children. And they are addictive, if not in the contested clinical sense then for all intents and purposes.

Consider this: In the first five years of the smartphone era, the proportion of internet and app users who said internet use interfered with their family time nearly tripled, from 11 per cent to 28 per cent. And this: Smartphone use takes about the same cognitive toll as losing a full night’s sleep. In other words, they are making us worse at being alone and worse at being together.

Ten years into the smartphone experiment, we may be reaching a tipping point. Buoyed by mounting evidence and a growing chorus of tech-world goliaths, smartphone users are beginning to recognise the downside of the convenient little mini-computer we keep pressed against our thigh or cradled in our palm, not to mention buzzing on our bedside table while we sleep.

With all of these statistics, and with the projected speed of 5G networks, simply said, 5G is widely believed to be smarter, faster and more efficient than 4G. It promises mobile data speeds that far outstrip the fastest home broadband network currently available to consumers. With speeds of up to 100 gigabits per second, 5G is set to be as much as 100 times faster than 4G, how will it affect us, humans?

More recently, researchers who study the relationship of mobile phone use and mental health have also found that excessive or “maladaptive” use of our phones may be leading to greater incidences of depression and anxiety in users. according to The Mental Health Foundation, the following statistics apply:

• 1 in 4 people experience mental health issues each year
• 676 million people are affected by mental health issues worldwide (2)
• At any given time, 1 in 6 working-age adults have symptoms associated with mental ill-health (3)
• Mental illness is the largest single source of burden of disease in the UK. Mental illnesses are more common, long-lasting and impactful than other health conditions (4)
• Mental ill-health is responsible for 72 million working days lost and costs £34.9 billion each year (5)
• Note: Different studies will estimate the cost of mental ill-health in different ways. Other reputable research estimates this cost to be as high as £74–£99 billion (6)
• The total cost of mental ill-health in England is estimated at £105 billion per year (1)

https://mhfaengland.org/mhfa-centre/research-and-evaluation/mental-health-statistics/

Nowhere is the dawning awareness of the problem with smartphones more acute than in the California idylls that created them. Last year, ex-employees of Google, Apple and Facebook, including former top executives, began raising the alarm about smartphones and social media apps, warning especially of their effects on children.

Chris Marcellino, who helped develop the iPhone’s push notifications at Apple, told The Guardian newspaper that smartphones hook people using the same neural pathways as gambling and drugs.

Sean Parker, ex-president of Facebook, recently admitted that the world-bestriding social media platform was designed to hook users with spurts of dopamine, a complicated neurotransmitter released when the brain expects a reward or accrues fresh knowledge. “You’re exploiting a vulnerability in human psychology,” he said. “[The inventors] understood this, consciously, and we did it anyway.”

Peddling this addiction made Mr Parker and his tech-world colleagues absurdly rich. Facebook is now valued at a little more than half a trillion dollars.

Global revenue from smartphone sales reached $435-billion (U.S.).

Now, some of the early executives of these tech firms look at their success as tainted.

“I feel tremendous guilt,” said Chamath Palihapitiya, former vice-president of user growth at Facebook, in a public talk in November. “I think we all knew in the back of our minds… something bad could happen.

“The short-term, dopamine-driven feedback loops that we have created are destroying how society works,” he went on gravely, before a hushed audience at Stanford business school. “It is eroding the core foundations of how people behave.”

Business leaders are grappling with the issue, too. In a recent blog post, Bank of England analyst Dan Nixon argues that the distraction wrought by smartphones may be hurting productivity. It takes office workers an average of 25 minutes to get back on task after an interruption, he notes, while workers who are habitually interrupted by e-mail become likelier to “self-interrupt” with little procrastination breaks.

If we have lost control over our relationship with smartphones, it is by design.

In fact, the business model of the devices demands it. Because most popular websites and apps don’t charge for access, the internet is financially sustained by eyeballs. That is, the longer and more often you spend staring at Facebook or Google, the more money they can charge advertisers.

To ensure that our eyes remain firmly glued to our screens, our smartphones – and the digital worlds they connect us to – internet giants have become little virtuosos of persuasion, cajoling us into checking them again and again – and for longer than we intend.

On some level, we know that smartphones are designed to be addictive. The way we talk about them is steeped in the language of dependence, albeit playfully: the CrackBerry, the Instagram fix, the Angry Bird binge.

But the best minds who have studied these devices are saying it’s not really a joke. Consider the effect smartphones have on our ability to focus.

But John Ratey, an associate professor of psychiatry at Harvard Medical School and an expert on attention-deficit disorder, said the problem is actually getting worse. “We’re not developing the attention muscles in our brain nearly as much as we used to,” he said.

In fact, Prof. Ratey has noticed a convergence between his ADD patients and the rest of the world. The symptoms of people with ADD and people with smartphones are “absolutely the same,” he said.

A recent study of Chinese middle schoolers found something similar. Among more than 7,000 students, mobile phone ownership was found to be “significantly associated” with levels of inattention seen in people with attention-deficit disorder.

Maybe studies like these have gotten so little attention because we already know, vaguely, that smartphones dent concentration – how could a buzzing, flashing computer in our pocket have any other effect?

But people tend to treat attention span like some discrete mental faculty, such as skill at arithmetic, that is nice to have but that plenty of folks manage fine without.

Researchers at Cambridge University showed recently that eye contact synchronizes the brainwaves of infant and parent, which helps with communication and learning.

Meeting each other’s gaze, Ms Sandink says, amounts to “a silent language between the baby and the mom.” That doesn’t mean breastfeeding mothers need to lock eyes with their children 24 hours a day. But while Ms Sandink emphasises that she isn’t trying to shame women, she worries that texting moms may be missing out on vital bonding time with their babies.

While email and mobile technology have greatly accelerated the way we do business, Leslie Perlow argues that the always “on” mentality can have a long-term detrimental effect on many organisations. In her sociological experiments at BCG and other organisations, Perlow found that if the team –- rather than just individuals – collectively rallies around a goal or personal value, it unleashes a process that creates better work and better lives.

Leslie Perlow is the Konsuke Matsushita Professor of Leadership at the Harvard Business School and author of the book, “Sleeping With Your Smartphone”

See below her video: “Thriving in an overconnected world”

Harvard University research suggests that, in a way, the mere presence of our smartphones is like the sound of our names they are constantly calling to us, exerting a gravitational pull on our attention. If you have ever felt a “phantom buzz” you inherently know this.

Attempts to block or resist this pull takes a toll by impairing our cognitive abilities. In a poignant twist, then, this means that when we are successful at resisting the urge to attend to our smartphones, we may actually be undermining our own cognitive performance.

Are you affected? Most likely. Consider the most recent meeting or lecture you attended: did anyone have their smartphone out on the table? Think about the last time you went to the movies or went out with friends, read a book, or played a game: was your smartphone close by?

In all of these cases, merely having your smartphone present may have impaired your cognitive functioning.

Data also shows that the negative impact of smartphone presence is most pronounced for individuals who rank high on a measure capturing the strength of their connection to their phones that is, those who strongly agree with statements such as “I would have trouble getting through a normal day without my cell phone” and “It would be painful for me to give up my cell phone for a day.”

In a world where people continue to increasingly rely on their phones, it is only logical to expect this effect to become stronger and more universal.

We are clearly not the first to take note of the potential costs of smartphones.

Think about the number of fatalities associated with driving while talking on the phone or texting, or of texting while walking. Even hearing your phone ring while you’re busy doing something else can boost your anxiety. Knowing we have missed a text message or call leads our minds to wander, which can impair performance on tasks that require sustained attention and undermine our enjoyment.

Beyond these cognitive and health-related consequences, smartphones may impair our social functioning: having your smartphone out can distract you during social experiences and make them less enjoyable.

With all these costs in mind, however, we must consider the immense value that smartphones provide. In the course of a day, you may use your smartphone to get in touch with friends, family, and co-workers; order products online; check the weather; trade stocks; read Harvard Business Review; navigate your way to a new address, and more.

Evidently, smartphones increase our efficiency, allowing us to save time and money, connect with others, become more productive, and remain entertained.

So how do we resolve this tension between the costs and benefits of our smartphones?

Finally, Smartphones have distinct uses. There are situations in which our smartphones provide a key value, such as when they help us get in touch with someone we’re trying to meet, or when we use them to search for information that can help us make better decisions.

Those are great moments to have our phones nearby. But, rather than smartphones taking over our lives, we should take back the reins: when our smartphones aren’t directly necessary, and when being fully cognitively available is important, setting aside a period of time to put them away — in another room — can be quite valuable.

With these findings in mind, students, employees, and CEOs alike may wish to maximise their productivity by defining windows of time during which they plan to be separated from their phones, allowing them to accomplish tasks requiring deeper thought.

Moreover, asking employees not to use their phones during meetings may not be enough.

I have suggested in the past that having meetings without phones present can be more effective, boosting focus, function, and the ability to come up with creative solutions.

More broadly, we can all become more engaged and cognitively adept in our everyday lives simply by putting our smartphones (far) away, or as Leslie Perlow has already demonstrated, perhaps we all should concentrate on a balanced life of “predictable time off” (PTO) from our smartphones to increase efficiency and collaboration, heightened job satisfaction, and better work-life balance with our relationships.

As Robin S. Sharma once said:

“Cell phones, mobile e-mail, and all the other cool and slick gadgets can cause massive losses in our creative output and overall productivity.”

May peace fill all the empty spaces around you, your family and your friends and your colleagues at this special time of year, and in you, may contentment answer all your wishes.

Raise a toast to yesterday’s achievements and tomorrow’s brighter future.

May comfort be yours, warm and soft like a sigh.

And may the coming year show you that every day is really a first day and a new year.

Let abundance be your constant companion, so that you have much to share.

May mirth be near you always, like a lamp shining brightly on the many paths you travel.

Work with the best of your abilities in 2020 and show to the world your power to create wonderful and superior things.

New Year 2020 may turn out to be a year when you are put on the road to everlasting success and prosperity.

Be the change that you wish to see at your workplace and take initiatives to make things better.

Wish your tomorrow is more prosperous, happy and successful than yesterday and today.

Looking forward to another year with hunger and passion to exceed at work and you are sure to meet with success.

Let new beginnings signify new chapter filled with pages of success and happiness, written by the ink of hard work and intelligence.

May the New Year bring us more wonderful opportunities for success.

HERE’S WISHING YOU THE GIFT OF PEACE AND PROSPERITY THROUGHOUT 2020