Digital Now - End of Competitive Advantage - Reader Roundtable

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10 out of 10 Associations and Non-Profits said they are experiencing moderate to severe disruption in this session at the Digital Now 2014 Association Leadership Conference in Nashville.

This panel discussed how to deal with disruption using Rita McGrath's book, The End of Competitive Advantage as a starting point. Rita s one of only two speakers who keynoted twice in the fourteen years of the Digital Now Conference.

This special panel featured several leading association executives - Mary Lynn Fayoumi, CAE, GPHR - President & CEO of Management Association; Greg Fine, CAE - Global CEO - Turnaround Management Association; R. Norris Orms, CAE, FACHE - EVP & COO - HIMSS

Moderator - Tom Hood, CPA, CITP, CGMA - CEO of the Maryland Association of CPAs and the Business Learning Institute.

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Digital Now - End of Competitive Advantage - Reader Roundtable

  1. The  End  of  Compe--ve  Advantage:  How  to  Keep   Your  Strategy  Moving  as  Fast  as  Your  Business  By   Rita  McGrath   Key  Ques-ons,  Useful  Resources  &  Session  Slides       May  20,  2014         Moderator:  Tom  Hood,  CPA,CITP.CGMA,    CEO  &  Chief  Strategist,       Maryland  Associa-on  of  CPAs/Business  Learning  Ins-tute     Mary  Lynn  Fayoumi,  CAE,  GPHR,  President  &  CEO   Management  Associa-on     Greg  Fine,  CAE,  Global  Chief  Execu-ve  Officer   Turnaround  Management  Associa-on     R.  Norris  Orms,  CAE,  FACHE,  Execu-ve  Vice  President  &  COO   HIMSS    
  2. The  End  of  Compe--ve  Advantage:  How  to  Keep   Your  Strategy  Moving  as  Fast  as  Your  Business  By   Rita  McGrath   Key  Ques-ons  for  Discussion       •  Are associations really that different than commercial organizations, is there really a strategy playbook? •  What would it look like? •  What is the best mechanism/forum to perform this type of assessment? •  Is there an association equivalent to “competitive advantage”? What are the implications for associations? •  If we accept McGrath’s notion of “transient advantage” what are the implications for associations? •  What kind of reaction would your volunteer leadership have in reading this book? •  What are the implications for staff and volunteer leaders? •  What considerations are there in the world of associations that really limit the applicability of Rita’s strategy application?
  3. Can  your  career  survive  the  transient   compe--ve  advantage  economy?   1.  If my current employer let me go, it would be relatively easy to find a similar role in another organization for equivalent compensation. 2.  If I lost my job today, I am well prepared and know immediately what I will do next. 3.  I’ve worked in some meaningful capacity (employment, consulting, volunteering, partnering) with at least five different organizations within the last two years. 4.  I’ve learned a meaningful new skill that I didn’t have before in the last two years, whether it is work-related or not. 5.  I’ve attended a course or training program within the last two years, either in person or virtually. 6.  I could name, off the top of my head, at least 10 people who would be good leads for new opportunities. 7.  I actively engage with at least two professional or personal networks. 8.  I have enough resources (savings or other) that I could take the time to retrain, work for a small salary, or volunteer in order to get access to a new opportunity. 9.  I can make income from a variety of activities, not just my salary. 10.  I am able to relocate or travel to find new opportunities. Source: End of Competitive Advantage by Rita McGrath
  4. Useful  Resources   •  Effec-ve  Governance  h[p://cpa.tc/4ou   •  Strategy  +  Business  -­‐  Career  Perspec-ve  h[p://cpa.tc/4ov   •  Linked-­‐In  -­‐  How  to  Grow  &  Avoid  Disrup-on  h[p://cpa.tc/4ow   •  Strategy  in  Vola-le  and  Uncertain  Environments  h[p://cpa.tc/4ox   •  Forbes  -­‐  Managing  Our  Way  to  Prosperity  h[p://cpa.tc/4oy   •  Google  Campus  Talks  –  End  of  Compe--ve  Advantage   h[p://cpa.tc/4oz   •  Three  Things  You  Must  Do  to  Conquer  Complexity   h[p://cpa.tc/4p0   •  Can’t  Afford  to  Grow?  You  Can’t  Afford  Not  To  -­‐  h[p://cpa.tc/40a   •  Say  Goodbye  to  Your  Compe--ve  Advantage  h[p://cpa.tc/4p1   •  Learn,  Then  Learn  Some  More,  It’s  The  Only  Way  You’ll  Survive   h[p://cpa.tc/2vj   •  Don’t  Assume  Anything,  Prove  It  h[p://cpa.tc/4p2    
  5.    
  6. Session  PowerPoint  Slides  
  7. Rita  McGrath   Photo:Tom Hood & Rita McGrath at BLIThought Leader Symposium in Baltimore, MD “How  would  you  think  differently  about  your  strategy  if   you  knew  your  advantage  might  not  last?”  
  8. Are you at risk for disruption?
  9. The Warning Signs •  I don’t buy my own company’s products or services •  We are investing at the same levels or even more and not getting margins or growth in return •  Customers are finding cheaper or simpler solutions to be “good enough” •  Competition is emerging from places we didn’t expect •  Customers are no longer excited with what we have to offer •  We are not considered a top place to work by the people we would like to hire •  Some of our very best people are leaving •  The growth trajectory has slowed or reversed www.blionline.org/rita
  10. So, the size of your enterprise, the scale, your access to capital– all those things that gave you an edge to new entrants, no longer exists. That’s all extremely scary because that means that your job is no longer about managing the present but inventing the future…all the time.” - Nilofer Merchant http://blogs.wsj.com/moneybeat/2013/12/30/how-to-handle-digital-disruption-in-2014/ From Paraminder Bahra in WSJ: How to handle digital disruption in 2014
  11. Now what: The New Strategy Playbook www.blionline.org/rita •  Continuous Reconfiguration •  Healthy Disengagement •  Deft Resource Allocation •  Innovation Proficiency •  Discovery Driven Mindset •  Entrepreneurial Career Management The New Strategy Playbook
  12. www.blionline.org/rita Take the test and add up your score Source: Rita McGrath, End of Competitive Advantage
  13. www.blionline.org/rita How do you measure up? Score Band Diagnosis Action Implication 14-28 Danger! Extreme exploitation orientation Urgent issue for senior team; major risk of being disrupted 19-42 Exploitation bias At risk of being trapped; urgently review business health 43-56 Most common; Pockets of agility but fighting with established businesses Innovation and disengagement need to be strengthened and made systematic; senior team needs to get involved 57-70 Moving faster, getting into a rhythm Support those working in new way; focus on resource allocation 71+ Learning to compete with transient advantage Remain watchful! Rita wants to meet you.
  14. If there is a conversation about the future of the profession, you're bound to hear Hood's name mentioned as one of the people leading the way. – Accounting Today Tom Hood, CPA, CITP, CGMA " Named the Second Most Influential in Accounting by Accounting Today Magazine 2013 " Top 150 Influencer by Linked-In " Top 25 Influencers in Learning & HR by HR Examiner " Top 25 Public Accounting Thought Leaders by CPA Practice Adviser " Working on Learning Management with AICPA/ CPA2Biz, Cloud Curriculum, Performance Management /XBRL, Leadership & Generations CEO Maryland Association of CPAs (MACPA) www.macpa.org Business Learning Institute (BLI) www.blionline.org http://www.linkedin.com/in/tomhood/

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