How many brands can you list off the top of your head? Well, I’m sure there will be quite a few in the list of Top 100 Best Global Brands of 2009. The last on the list if Campbells, but you might be interested to know the top 10 which are:
It’s interesting to see just how many technology firms there are in the list. You’re probably not going to find mundane items like companies selling FMCGs or fat burner in the list; the companies that make it have to be on everyone’s lips; so it’s a pretty prestigious list.
What’s the worst thing that can happen to your business? If you don’t know, it’s worth thinking about the question for a few minutes, as it helps you focus on what risks your business may be facing. And I’m not talking about day-to-day mishaps, but the catastrophic ones that can kill or main your business.
These scenarios vary from business to business. In today’s world a lot of organisations are data driven, so the loss of their data could be catastrophic. Other organisations are less dependant on data, and more dependant on customer factors, whether it’s sentiment or footfall. Yet others are dependant on source materials and factors of production. The risks will vary from industry to industry, but not being aware of what they are can be disastrous.
If you know what the risks are, you can mitigate against them. Whether it’s a matter of investing in online backup solutions, or making sure you have reserves to cope with a downturn; or having alternative markets you can tap; measures can always be put in place to minimise the impact of one of the risks occurring. But you need to understand those risks to make sure you have the right mitigations in place. So, don your thinking cap, and make sure you’re looking at the big picture.
If you’re based in the Isle of Man, then you might be interested in a Social Media themed event next Thursday 13th September. It’s a meet-up of Social Media Club who meet every Third Thursday for a casual lunch. Everyone who comes is interested in some shape or form of Social Media, be it blogging, microblogging, social networks etc.
With social media entering every part of our lives, both personal and professional, it’s a great opportunity to meet and discuss ideas with people working in this space. It doesn’t matter if you’re starting a company blog for a finance firm, or setting up a Twitter account for a disability appeal product or just interested in using Social Media to keep an eye on what your competitors are doing, come and join us and learn more. You can read more about it here.
I came across an interesting article in New Scientist today where research into the “common goods” game provides insight into how collaboration between different individuals in enhanced by incentives rather than hygiene factors. We all experience “common goods” in some share or form, for example when we make use of public health services. The notion behind them is that everyone contributes a tiny amount and makes use of the good when needed. Typically though, certain advantages are tempted to “cheat” and try to consume the good without contributing.
Common perception is that this behaviour can be minimised by punishing the offenders, but the article on New Scientist suggests that providing rewards to those who DO contribute (the mythical carrot) is a more effective reinforcement mechanism. The theory behind is is linked to the idea of differential cost. A small effort contributed by an individual to a system can have a large value for another individual, which gives a large increase in overall utility. For example, my dedicating 30 minutes to help a neighbour move his bell tv out of his car into his living room is a pretty low cost; but if he didn’t have the help available, he would have had to pay movers to do this for him; a significant cost by comparison.
What do you think works best for you, carrots or sticks?
Twitter is ablaze at the moment with people trying to figure out what’s up (or down) with Gmail, what work and what doesn’t and how long it’s going to remain the way. Outages happen, but when you store your entire email history somewhere out on the Internet and suddenly you can’t get access to them; well, people start talking.
The whole problem with this is people start to doubt the effectiveness of Cloud Services. it gets even worse in the corporate space where people need to run their businesses off these systems. And I’m not talking a small outfit trying to perfect the newest diet supplement coming to market; I’m talking about large multinationals who depend on the technology to keep their organisation ticking. Moving towards Cloud Services increases risk and if those risks are managed all can be fine. But an incident like this brings home the impact of a risk you cannot manage.