The challenge here is always: how does one make a subject fun and engaging when it is already considered drab and dull before we even get started.

The traditional approach is of course to arm yourself with a large deck of power-points outlining the does and don’t of financial management.

That may be how you teach finance – but that is not necessarily the best way to actually learn finance.

So instead we created a scenario that very much resembles their day to day situation, with the problems and pitfalls of real life and had them work through that in teams of 3 – if they got stuck they could ask questions – but essentially they worked it out between themselves – collaborative learning in full bloom – what a pleasure!

Next week we shall take it up a notch…

“Conversations are the way workers discover what they know, share it with their colleagues, and in the process create new knowledge for the organization.
In the new economy, conversations are the most important form of work …so much so that the conversation is the organization.”
—Alan Webber, “What’s So New About the New Economy,” Harvard Business Review

In these examples what has happened is that competition has come from where it was least expected and in both cases this competition was initially ignored as not significant – “they are not delivering the kind of quality that we do” – and bam! One day we wake up and Ryan Air is a huge airline business and we all have digital cameras in our pockets – even the pro’s

This has happened in industry after industry ever since the buggy whip business was exterminated by automobiles. Why and how this happens is well documented by Clayton Christensen in his wonderful book : The Innovators Dilemma

The same shift in client behavior is now occurring in the meeting and conference industry. The competition is not from other regular players in the market but from a combination of events that together have created a perfect storm. Once the storm is over the market will never be the same again.

The elements that are causing this are:

1. The financial crisis has forced business to be more careful how they spend their money so they question the value of every thing – if it is not adding value why are we doing it? ROI i now a key requirement – see more here

2. CSR – The realization that we need to curb our Co2 emissions and one of the big sinners in this is of course travel. (It is also a convenient excuse to cut travel cost)

3. Time pressure on every one means that we are are all looking for ways to cram more into the same 24h/7d week /360d year frame – there is now mores stuff to do, read, see than we have ever experienced before and that means prioritizing. Asking one self hard questions like: is this worth the effort ( travel, money, another night away from home etc).

4. Web 2.0 the big shift from web 1.0 is the ability to interact – real time two way communication on the web. Virtual classrooms, breakout rooms – web casts etc. There is a whole new industry that is growing rapidly and that sees a huge opportunity to replace the traditional meeting environment with a virtual environments. Brush up on Web 2.0 and learning here

Points one 1-3 are the problems we would all like to see solved and point 4 seems to be a possible solution. Not perfect but it works and is easy ( Just like digital cameras)

“At IKEA Virtual Meetings should always be first choice”

Progressive business are responding fast. IKEA has a campaign running called Meet More Travel Less

Tandberg, TNT and Vodaphone are others also working on this.

TANDBERG – 100 000 video calls per month – 2500 flights avoided, 2,5M$ saved on business trips (30M$per year) – 17500 man-hour saved per month – 275 tons of CO2 saved per month

TNT – On track to save nearly11,5 $ in 4 years by replacing travels with videoconferencing – ROI:71%

VODAFONE – 25% reduction in business trips in 2 years – Resulting in double digit millions of cost savings

The response from the meeting industry is ahh.. no need to worry, virtual meetings will never be as good as f2f meetings.

Perhaps not but that is exactly what Kodak said about digital cameras, What BA said about the zero service concept from Ryan Air and what the vinyl record producers said about music on CD’s.

So is there no hope for the meeting industry – yes there is but we need to understand how to deliver value. Class rooms and serial power point monologue are not the solution.

The problem with creating value in the traditional meeting and conference set up is that it is very limited – there is often a short term entertainment value, the odd aha experience – but that’s it.

In a situation where we are all under pressure. Supply, by far, outstrips demand in virtually all industries and services – most business’ create meetings and conferences in order to help participants change – but as any one who has tried to get a teenager to clean up their room by telling them to do so, will recognize, we do not change because someone tells us to do so ( there would be no smokers left in the world if that where the case) Telling does not work.

We change when we arrive at our own conclusions. ( if you do not believe me read Change or Die that will help you reach your own conclusion)

So having one or even worse a series of speakers stand up and tell us what to do, think or feel in order to cope with change is relatively useless – the ROI is negligible – and in that connection the speakers fee is not the main cost, it is the time and travel of the participants.

In order to create real change we need to gather people in order for them to interact. Change requires learning and learning is collaborative – no I do not mean 10 min of ‘networking at the coffee break – but real meaningful conversations – deep dialog.

Only through dialog will you get people to reach their own conclusions and then hopefully act on them. Yes we can have inspirational input if it is short, sweet and to the point AND gets people thinking and talking.

But this will require the meeting industry to radically change their formats,( venues, room, seating,speaking formats, tools, etc) those that do will survive those that don’t will join the buggy whip business as interesting business cases for future students to smile at.

2009 will go down as the year in which the shroud of uncertainty was lifted off of social media and mainstream adoption began at the speed of light

By this time next year, social media will no longer be “social media” — it will be an integrated, unquestionable component of your online and offline experience. Last year we spoke of cross-platform integration across media sites. Open APIs and OpenID made that possible, and even LinkedIn announced last month that it too will finally open its APIs. 2010 will be about integration and a single, cohesive experience across platforms as well as across products and devices — Web, mobile, TV, and video — will become near-inseparable experiences.

Read the full article

I am looking forward to being among the 100+ learners convening around authentic leadership in action. It will be a programme rich in design, and also in the diversity and life experience of the people in attendance. Participants are coming from Australia, Belgium, Canada, Denmark, France, Germany, Ireland, Netherlands, South Africa, Sweden, Switzerland, the United Kingdom, and the United States. This learning community, while coming face-to-face for a brief 6-day period, is part of a global movement of community and organizational leaders and followers striving for more effective, more humane living and working environments.

You can download the brochure here

—John Mackey, Chairman & CEO, Whole Foods Market & co-founder, Conscious Capitalism, Inc.

Read more here

Here is Jay’s website with more on informal learning

I have this very clear feeling that a fundamental shift in many of the ways that we have been used to conducting business and interacting with each other is underway. (see also my previous post are you a frog in the pot) And that when the dust settles things will not return to what we have known previously as normal but will have undergone a clear shift. This is not a passing storm but fundamental climate change.

In pursuit of that theme I have been hunting for signs that would support this gut feeling.

This has led me to The 2009 Shift Index published by Deloite and presented on the Harvard publishing website.

Her you will find the following resume of key findings:

The 2009 Shift Index reveals a disquieting performance paradox in the US corporate sector. On the one hand, labor productivity has nearly doubled since 1965. During those same years, however, US companies’ Return on Assets (ROA) progressively dropped 75 percent from their 1965 level.

How can firms be getting lower returns even as they’re becoming more efficient? The answer resides in the heightened competition among firms. Competitive intensity nearly doubled between 1965 and 2008, forcing firms to compete away the benefits of productivity gains, which were instead captured by creative talent in the form of higher compensation and numbers of consumers through increasing performance/price ratios and wider choice.

It’s little surprise to find also that the highest-performing companies are struggling to maintain their ROA rates and are increasingly losing market leadership positions. Taken as a whole, the findings portray a U.S. corporate sector in which long-term forces of change are undercutting normal sources of economic value. “Normal” may in fact be a thing of the past: even after the economy resumes growing, companies’ returns will remain under pressure.

To respond to this performance challenge, U.S. companies will need to let go of industrial- era organizational structures (and the reporting relationships, incentive systems, and managerial processes that go with them) and operational practices in favor of the new institutional architectures and business practices needed to create and capture economic value in the era of the Big Shift.

Companies must move beyond their fixation on getting bigger and more cost-effective to make the institutional innovations necessary to accelerate performance improvement as they add participants to their ecosystems, expanding learning and innovation in collaboration curves and creation spaces. Companies must move, in other words, from scalable efficiency to scalable learning and performance. Only then will they make the most of our new era’s fast-moving digital infrastructure.

So what does this Big Shift entail in pratical terms?

John Hagel one of the co-authors of the 2009 Big Shift index does a superb job summarizing what he essentially sees as a shift from push to pull on his blog Edge Perspectives

What obviously caught my atention was this:

From knowledge transfer to knowledge creation
Most companies today will acknowledge the importance of knowledge flows, but they tend to focus on transferring knowledge more efficiently, especially within corporate boundaries. While useful, this is ultimately a diminishing returns game on multiple levels. The greatest economic value will come from finding ways to connecting relevant yet diverse people, both within the firm and outside it, to create new knowledge. They do this best by addressing challenging performance requirements that motivate them to get out of their comfort zone and come up with creative new approaches that generate more value with fewer resources.

This correlates well with the experiences that we have using action learning as our primary developmental tool in helping managers and organizations tackle the changes that they are in. It is not our job to teach but to help them learn – and that is a very different story.

But I urge you to read the full unfolding of this thinking here under the following headlines:

From knowledge stocks to knowledge flows.

From knowledge transfer to knowledge creation.

From explicit knowledge to tacit knowledge.

From transactions to relationships.

From zero sum to positive sum mindsets.

From push programs to pull platforms.

From stable environments to dynamic environments.

Lots of food for thought, and now I realize that my gut was telling me something important and I shall continue to pursue this investigation.

But I would also like to ad on a personal note that never has my in-box received so many offers of virtual seminars or webinars. From Harvard to grassroots organizations they are all jumping in to more and more advanced forms of elearning/brodcasting. At the same time I have been signed up to attend 3 major events/trainings/conferences this spring – they have all been canceled due to lack of attendants.

I am also getting very clear signs that clients are trying to not just reduce travel cost but to eliminate them completely. There is both a cost argument and an environmental consideration here – and i have a distinct feeling that this is not going to swing back to normal once the current financial difficulties are over. Once companies have learnt that no-travel is an option they are going to stick with that, swine flu is not going to help here either.

Trend 1 – The Business of Meetings is Business

This year more than ever before, the business of meetings is straight-up ROI. There’s not a lot of room for leisure and extracurricular play in the current meeting environment where every single dollar is measured for its contribution to the success of the overall conference.

Meetings have never been more serious, focused, or strategic — or more regional, for that matter, as transportation expenses are trimmed. It’s good news for conference centers, which are all about serious meeting environments.

Trend 2 – It’s Not Easy to be Green …

It’s not easy to be green … or at least it’s not easy to be green in a challenged economy! It isn’t that planners no longer care about the green status of a property – it’s just that they are a whole lot more focused at present on securing that property at the best price possible for their next meeting.

In 2009, price trumps green.

Trend 3 – We’ll Get Back to you in Six Months

Across Benchmark Hospitality’s portfolio, the first half of 2009 is proving to be a challenge with a lot of in-the-month-for-the-month meetings booked. Push-back on pricing is universal and meeting lengths are being shaved by a day, on average.

Things are looking up in the 2nd half of 2009 though. Booking pace is in recovery for the second half of the year and 2010 is on target and looking healthy.

Trend 4 – Stuffed, Packed, Studded with Value!

The demise of the complete meeting package is greatly exaggerated! For the most part, demand remains strong and the value of the package – and in Benchmark’s case the company’s branded Benchmark Conference Plan — is recognized. But packages are expected to be loaded with value, add-on benefits, and, get this, there’s a growing demand for double occupancy.

Although packages are negotiated with the usual rates, dates and space considerations, today’s negotiations linger on and on and on with planners watching every penny as meeting budgets are cut from 10 percent to slash & burn proportions. Every meeting dollar must be measurable and welcome receptions, afternoons of leisure, and special dinner events are out. Working lunches and dinners, regional gatherings, doubling up in guestrooms, and value-added options are what’s in this year!

Trend 5 – Believe It or Not, Teambuilding Remains!

Teambuilding is not D.O.A. this year as has been the case in other soft economies and demand is projected to increase in 2010.

Planners are negotiating hard on price, and fewer sessions are being scheduled this year over last, but companies continue to see value in the team-enrichment benefits offered through creative teambuilding programming, such as corporate social responsibility initiatives. In these exercises, groups are creatively brought together to accomplish a task as a team that also benefits a local or national charitable organization. Often the task is outside the norm of the group’s daily activities, and requires them to constructively pull together as a team to accomplish the assignment, frequently with new leadership patterns emerging.

Trend 6 – Tea for Two (make it herbal), Tee Times for Twenty

Maybe not this year. Tight budgets and serious meeting environments are taking their toll on extracurricular activities once so popular.

There’s no problem getting a spa or tee time this year, but it will be on the conferee’s own dime and it better not be scheduled over a conference session. Not that there’s anything wrong with a round of golf, a manicure or an herbal wrap, but in 2009 it’s about perception.

Trend 7 – I Plan, Therefore I Am

Once again the industry is consolidating. Planning is increasingly seen as a part-time function … with planning responsibilities loaded on already overwhelmed administrative personnel and department heads. And third party planners are re-emerging.

Conference Service Managers have never been more important or more welcome by this growing group of planners. Their one-stop planning resources and services, coupled with a purpose-designed learning environment, streamline the conference planning process, helping even the most inexperienced planner deliver a first-rate, productive meeting at a time when this is of maximum importance.

Trend 8 – Three Squares a Day. That’s it!

Gone are the welcome receptions, theme dinners and special luncheons. Planners’ meal requests are pretty much limited to three square meals a day and that’s it.

Companies are even asking that refreshment breaks be scaled back to downplay perceptions of extravagance. Where there are special requests by planners they’re about healthy options and fresh ingredients foraged locally.

Trend 9 – The Silver Lining

That’s right … there’s a silver lining and it’s found within select market segments where meeting demand is growing. These include government, military and defense-related meetings, as well as education, state associations and religious market gatherings. Perhaps this should make sense in these times.

There’s more. The medical, biotech and pharmaceutical segments remain strong too. Serious market segments for serious times, it seems – perfect for serious meeting environments.

Trend 10 – Getting Serious About Learning Environments

Productive meeting environments have never been more put to the test or proven their worth more actively than right now. In a business environment where every dollar – every penny for that matter — is meaningful and expected to yield a measurable ROI, dedicated meeting environments like conference centers deliver and planners are turning to them.

Ok, they may lack the glamour of center city hotels, or the status of landmark properties, or the sex-appeal of exotic resorts, but that’s a unique selling proposition these days.

Conference centers deliver on the promise of a dedicated and focused learning environment, are wired for maximum productivity, provide high quality yet non-extravagant food & beverage, offer pleasant and comfortable guestroom accommodations, and importantly, provide dedicated conference service support. In short, serious meeting environments for serious times.

Bron: Benchmark Hospitality International – 2009-04-25

Source : http://www.eventplanner.be/nieuws-trends/evenementen/3544/top-10-meeting-trends.html