Archive for the ‘IT’ Category
This is the fifth in a series of articles that describe the unique traits of a corporate intrapreneur.
The next three habits, when practiced properly at a corporation, can often lead to the successful delivery of ideas. Idea delivery is characterized by the creation of a product or service that provides value to a customer.
These first stages of delivery occur as part of a technique known as 3-box time management, which is depicted below.
Vijay Govindarajan (VG) is a Professor of International Business at Dartmouth College. He is the author and evangelist of the 3-box strategic approach to corporate innovation. Three-box innovation strategy dictates that the majority of corporate resources should be invested in the Box 1 diagram listed below: Manage the Present. This box represents the continued development of existing products to yield most of a corporation’s revenue. Employees supporting this box focus on existing customers and processes, and they continue to leverage their existing competencies. In essence, this box “funds” the development of innovation within a corporation. Some companies fall into the trap of spending close to 100 percent of their resources in this box.
Vijay advises corporations to allocate portions of their resources to Box 2 and Box 3 as well as tried-and-true Box 1. Box 2 selectively abandons the past by “forgetting” most of what is known about the products built in Box 1, including why they were built and whom they were built to satisfy. This break from tradition enables an innovator to take existing products into completely different markets.
Box 3 is a more radical approach to innovation. It completely ignores current processes and products and prominently targets the future.
The figure below applies this 3-box corporate framework to an intrapreneur’s use of his or her own time (note that the box titles change when applied to an individual).
Intrapreneurs can be most effective when they are delivering products as part of a business unit (as opposed to being a member of a research team in an ivory tower). Why? They often prefer to be in the trenches, where they can be highly productive, visiting customers, and collaborating with others. They are respected within their organizations for doing those very things.
Perhaps their most significant contribution to their business unit’s product line is funding their employment and that of their collaborators. They are squarely positioned in Box 1.
Spending all of their time in one area of expertise does not enable intrapreneurs to achieve success. Their natural curiosity and passion will not allow them to stay in only one place. They practice the discipline of limiting the amount of time they spend in Box 1.
By limiting the amount of time they spend in Box 1, intrapreneurs make time for Box 2 and/or Box 3 activities. They set aside the time to learn about customer issues. They set aside the time to explore adjacent technologies. They regularly meet with experts in adjacent fields and collaborate to dream up ideas of what might be possible. Most importantly, they begin to build out their ideas.
It is worth pointing out the difference between Box 2 and Box 3 intrapreneurial behavior. Box 2 behavior is characterized by Venn diagram innovation. The intrapreneur collaborates in the context of a well-defined customer problem.
Box 3 behavior is characterized by blue sky innovation: taking the initiative to learn new technologies and collaborate without necessarily starting with the context of a defined customer problem. Blue sky innovators may ask themselves and others, “What might this capability be used to do?” Answers to this question can result in breakthrough innovation. It is often the case that breakthrough innovation can be applied to customer problems they don’t yet know they have!
It is a difficult balancing act to regularly spend time outside of Box 1. It takes passion and persistence. But it is the very first step that a new intrapreneur must take to prove his or her worth!
Subsequent steps build on the important ability to manage one’s time well. Please consider subscribing to this blog for a discussion of the next phase of idea delivery: managing one’s visibility.
As explained last week, our primary IT consulting ranking this year is a composite score that takes into account both quality of life rankings (as determined by a firm’s own consultants’ votes) and prestige rankings (or, outsiders’ rankings of consulting firms other than their own). Both sides of the equation are critical to choosing an ideal employer. But when selecting an employer, a good first impression of the company is to gauge how outsiders view its reputation in the industry. This is why the Vault prestige ranking is such an integral tool for job seekers.
Respondents to this year’s Vault IT Consulting Survey were asked to rate each consulting firm in the survey on a scale from 1 to 10 based on prestige, with 10 being the most prestigious. Consultants were unable to rate their own firm, and they were asked to rate only those firms with which they were familiar. Vault collected the survey results and averaged the score for each firm. The firms were then ranked, with the highest score being No. 1, down to No. 25. Remember that Vault’s top-25 most prestigious IT consulting firms are chosen by practicing consultants at top consulting firms. Vault does not choose or influence these rankings. The rankings measure perceived prestige (as determined by consulting professionals) and not revenue, size or lifestyle.
All in all, our prestige list provides a comprehensive roadmap of who’s who in the IT consulting industry—ranging from big tech consulting shops to smaller, niche firms, and spanning a vast swath of expertise. Without further ado, check out this year’s top-25 most prestigious IT consulting firms!
Oh, and stay tuned next Tuesday for our release of specific practice area rankings!
This year, we’ve taken our consulting rankings a step further. Instead of simply listing out the top firms based on perceived prestige in the industry, we’ve gone out and asked consultants what matters most to them in choosing an employer. What they told us was that prestige alone is not a determining factor. Rather, the single most important issue when choosing a consulting firm is company culture (43 percent claimed that culture was most important!), followed by practice strength (14 percent), prestige (11 percent) and compensation (6 percent), among a few other options. We’ve taken this feedback and created a new Vault IT Consulting 25, showcasing the firms that are best to work for. This ranking was compiled using a weighted formula that reflects the issues job seekers care most about. (See below).
Don’t worry, we’ll still be releasing the all-important prestige rankings (check in next Tuesday for the big reveal!), and they do play a big role in the overall Vault IT Consulting 25 rankings. After all, a prestigious firm name puts a sheen on any resume, in addition to affording consultants access to a high caliber of clients and projects. That said, we believe that quality of life issues are at the core of a company’s appeal to job seekers. Let’s face it: In this post-recession era of recovery and growth, it’s a job seeker’s market, and job seekers are looking for a workplace that offers both prestige and an appealing lifestyle. Here’s the formula we used to compile this year’s rankings:
• 25 percent firm culture
• 25 percent work/life balance
• 20 percent compensation
• 20 percent prestige
• 5 percent overall business outlook
• 5 percent transparency
The scores for the first five categories are derived directly from the survey results; all categories except prestige are based on a firm’s own consultants’ feedback about their quality of life, whereas the prestige ranking is based on the perception of outside consultants. (Respondents were not allowed to rank their own firm in the prestige category.) The “transparency” category awards a 5 percent bonus to firms that distributed the survey to their consultants. Firms that did not distribute the survey internally received no points in this category. It is our view that, with increasing expectations of transparency and a free market for information, a company’s willingness to encourage employees to share their experiences externally correlates with a work culture where open feedback and self-criticism are valued—attributes that thousands of job seekers tell us are top priorities in searching for a new employer.
Stay tuned next week for the long-awaited prestige rankings!