applying the classic virtues to your business, organization, teams and individuals for innovation...

Copyright © 2012 Mills-Scofield, LLC www.mills-scofield.com

DEBORAH MILLS-SCOFIELD

Mills-Scofield, LLC • [email protected] • @dscofield Partner: Glengary, LLC. – Early-Stage Venture Capital

Visiting Scholar – Brown University • Adjunct Professor – Oberlin College

Applying the Classic Virtues to Individual Professional Development



ARISTOTLE’S CLASSIC VIRTUES

•  Application of the Virtues: –  General Business

•  Aligned with specific strategies, tactics, projects

–  Innovation - Process •  Aligned with overall Innovation processes and/or individual Innovation projects

–  Innovation – People/Mindset •  Team Development •  Individual Professional Development

•  Based on the work of Alan Kolp & Peter Rea : –  Integrity is a Growth Market (book) –  Igniting Innovation through Integrity (to be published, with co-author

Pierre Everaert) –  Collaboration on developing applications

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VIRTUES &

APPLICATIONS

Virtues (Integrity) Application Love Passion Friendship Compassion

Passion Passion for people and solutions Social Capital: Teams & Partners Servant Leadership & Customer Service

Courage Fortitude, Heart, and Mind or Soul

Manage Risk Risk & Rescue Mgmt: Tangibles/Intangibles Smart Failing - Culture

Faith Fiduciary Trust Authenticity

Economic Value of Intangibles Reputation – Macro & Micro Teams, partnerships – internal/external Clear roles & responsibilities

Justice Fair vs. Equal Enlightened Self-Interest

Sustainability Triple Bottom Line & Bottom of Pyramid “I-Thou”

Prudence Wisdom Reasonable Disciplined

Talent Management Acquiring, developing and retaining talent Adaptable, Agile, Resilience “Bright Spots”

Temperance Moderation – Greek Middle Way Balance Tempus

Money/Meaning & Profit/Purpose Balance: Today &Tomorrow; Life & Work Lens-Shifting Balanced Scorecard – stakeholders

Hope Forward looking – future not yet realized Possibility Moral = root of Morale

Smart Failing Real-Win-Worth Economic value of Learning Best Practicing


WHY, HOW, WHAT WE CREATE Virtue Why

Art (Disposition – Right Brain) How

(imagination, commitment, creativity)

Science (Skills– Left Brain) What

(competency, skill, knowledge)

Love Passion: Customer Create/Add customer value

Courage Recognize Opportunity & Lead Change Risk & Rescue Management

Faith Manage Intangibles (People, Process) Create & Protect Wealth

Justice Triple Bottom Line Brand Reputation

Prudence Empower & Engage Talent Agile, Adaptable High Performance Organization

Temperance Balance Manage Competing Interests

Hope Smart Failing “At Bats” and RBIs

Awareness Current State

Attention Desired State

Action Close the gap

DEVELOPMENT PLAN


Love Ερος (Eros)

Passion, Desire, Devotion Ex: Zappos, Apple, Nordstrom's •  Passion to add value to

customers, employees, stakeholders

•  Smart Risk-Increased Returns •  Customer Service •  Customer Experience •  Customer Jobs-to-be-Done

Passion to create, to improve, to refuse “just because”

What are you passionate about?

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Φίλος (Philos) Friendship, Respect

Ex: Google, USAA, Intel •  Earn & Keep Trust -> Attract,

Retain, Develop Talent •  Teamwork, Open Innovation •  Collaboration & Cooperation •  Whole Employee (health,

volunteering, ‘idea’ time, sabbaticals, etc.)

•  Before cut staff, identify root cause (e.g., process, wrong markets, customers)

Engaged Employees = value: great products/services, customer service, sense of urgency and shared purpose

How do you excite your people?

Αγαπη (agape) Compassion, Sacrifice, Humility Ex: AFLAC, Southwest Airlines •  Voice of the Customer; Jobs-

to-be-Done; Day-in-Life •  Customer Co-Create/Design •  Customer Valuable Solutions •  Customer Service •  Align organization to Delight

the Customer •  Employees’ Issues > My Issues •  Human Capital is THE Asset

Is it really about Them, not You? How do you put your customers

and people first?


Courage French: Heart (coeur) and Latin: Mind/Soul (cor)

Reflexive: Visceral, Autonomous, Involuntary: rush in to save v stand by & watch Reflective: Cognitive, Analytical, Voluntary: Weigh Risk/Reward

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Culture

•  Status Quo-Philic/Phobic •  We are wired for stability •  Risk is culturally defined

• Ethnicity • Prestige (“Corner Office”) • Reputation/Peer Pressure

•  Risk is individually defined • Definition of Self • Values (“Look in the Mirror”) • What’s at “Stake”

•  Externally Influenced • Economic • Global

What are your cultural inhibitors and accelerators?

Management/Resilience

•  Identify Real “Manageable” Risks: Tangible & Intangible: Reputation, Market Validation, Financial, Life, Execution, Operational, etc.

•  Identify Real Risks beyond your control (e.g., Acts of G-d)

•  Willing to speak up and out •  Delighting Customer > R&D,

Engineering, Sales, Supply Chain, Shareholders, etc.

•  Balance Risk Mitigation and Rescue Management

Do you take Smart Risks?

Process/Tools

•  Open Innovation •  Inter-disciplinary/geographic/

cultural teams •  Innovation Mgmt Processes •  Incentives, Recognition,

Reward for success & failure •  “Blame” process, not people •  Root cause analysis •  Obsolete your own ‘stuff’ •  S-Curves •  “Lean Startup” tools •  Business Model Innovation •  RWW Can you mitigate AND “Rescue”


Faith Latin: fides (trust) in something or someone, usually intangible

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Corporate Reputation

•  Direct impact on Market Cap: Walmart, Netflix, BP…

•  Direct impact on ability to attract and retain talent (esp. Millennials)

•  Related to Hope •  Balance Protecting & Creating

Wealth •  Broken by Corruption, Greed,

Breaking implicit/explicit promises to customers, employees, shareholders

How do you protect/enhance your Brand & Talent?

Imagination/Worth

•  Ability to imagine the future and make it happen

•  Assume Future = better (incremental and disruptive)

•  Better = for customers, employees, communities, environment, suppliers…

•  Beyond compliance •  Trustworthiness – Worthy of

Trust

Are you really capable of imaging the future & worth trusting?

Culture

•  Align & resource organization to Delight the Customer

•  Clear vision, mission, strategy with how everyone fits in and contributes

•  Execution Model – who & how to get things done with power and authority

•  Behavior: incent smart risk-taking, don’t punish smart failure

•  Stories, Myths, Symbols Does your culture make it easy to

trust & execute?


Justice Old French: justitia (righteousness & equity); Latin: justus (upright and just)

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Fair vs. Equal

•  Easy -> Equal: everyone is treated the same; no judgment: e.g., compensation

•  Hard -> Fair: ‘equal’ opportunity can have different results; subjective

•  Legal vs. Ethical/Moral •  Equal vs. “Right”

Do you treat people equally or fairly?

“I-Thou”

•  Do “I” matter more than “Thou”? (customer, employee, stakeholder)

•  My needs/wants > Yours •  Organization’s reaction to

injustice •  Means justify the Ends? •  Short term vs. Longer-term

gratification (pay it forward)

Does your culture value others vs. self?

CSR

•  Triple Bottom Line: People, Planet, Profits

•  Outputs vs. Outcomes: Money & Profit as way to provide Meaning & Purpose

•  Leaving things better than you found them

•  Talent acquisition & retention •  Customer acquisition & retention •  Beyond compliance – Reputation

results in growth •  Reverse Innovation (BoP)

How do you ‘account’ for your organization’s total impact?


Prudence Old French: prudence (wisdom to see what is virtuous, suitable, profitable)

Latin: prudentia (foresight, sagacity; contraction of providentia (providence))

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Wisdom

•  Capitalize/Monetize investment in People

•  Increase Employee Engagement •  Repeat, Repeat -> Habit •  Remove Obstacles, Barriers

(tangible: processes; intangible: politics)

•  Reliable •  Mutual Trust •  Shared purpose and goals •  Faith in the ability to accomplish •  Balance Responsibility and

Authority

How engaged are you and your people?

Foresight

•  Willing to learn from others •  Willing to look at things

differently – Lens Shifting •  Reframe challenges &

opportunities •  Perseverance •  Suspend Disbelief •  Shared purpose and goals •  Faith in the ability to

accomplish

How adaptable and resilient is your organization to change?

Talent Development

•  “Bright Spots” •  “Can’t build on broken” •  Manage to strengths & passions •  Social Capital/Networking •  Education •  Experiences – outside the

comfort zone •  Mentors/Mentoring •  Community Service

Do you look at what’s working or

what’s broken?


Temperance Anglo-French: temperaunce (moderation)

CAUTION: Temperance ≠ quest for EVENness which can support status quo

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Balance

•  Work-Life •  Time for everything/season •  Balanced Scorecard: tool vs. idol •  “Spirit” vs. Letter of the Law •  Delight the Customer vs.

Shareholder interests •  Team makeup

How well do you balance competing interests?

Discipline/Habits

•  Policies •  Accountability •  Responsibility & “Authority” •  Healthy & Unhealthy Habits

(wellbeing, cultural, etc.) •  Inner-Self •  Public-Self: work & community •  Confirmational Bias •  Long vs. Short-term •  Reality vs. Delusion (Dilution)

What are your barriers for temperance?

“ROI”

•  Innovation Process •  Numbers Game: 1000->100->

10->1 •  Vetting: Internal “VC”, Markets

(Rite-Solutions), Whole Foods, RWW, etc.

•  Failure = learning process: learn, apply, iterate, learn, apply, iterate

•  Experimentation •  “Lean Startup”

Do you allow time and space for

innovation & learning?


Hope

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Realistic/Facts

•  Not fantasy •  Based on VOCs, real customer

‘pains’ •  Team •  Technology •  “Smart Risks” •  Possible vs. Probable •  Fail Fast, Fail Cheap •  Make new mistakes •  Failure – learn, apply, iterate… •  Learn, Discover, Uncover, Create

How do you learn what’s possible?

Tools

•  Lean Startup •  Business Model Generation •  People/Planet/Profits •  Real-Win-Worth •  Best Practicing •  Time for innovation •  Encourage vs. Coerce

How do you decide what’s possible?


VIRTUES DEVELOPMENT PLAN

•  Select A Virtue •  Examples of that Virtue at work within you •  Examples of that Virtue at work within your organization •  Rate yourself and your organization on that Virtue:

–  1-6 scale –  Reasons & Evidence

•  Assess yourself on that Virtue –  Art & Science –  Strengths, Weaknesses, Bright Spots, Barriers, Challenges

•  Development Plan –  Each “Area”: Self, Home, Work, Community –  Specific tactic, date, status

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applying the classic virtues to your business, organization, teams and individuals for innovation...

Business

nordstroms passion

knowledge love passion

love eros passion

open innovation

projects innovation

talent agile

talent adaptable

risk risk rescue mgmt