|By PR Newswire||
|January 22, 2014 01:00 AM EST||
NEW YORK, Jan. 22, 2014 /PRNewswire/ -- New research from LRN, announced at the World Economic Forum 2014 Annual Meeting in Davos, Switzerland, shows companies earn returns on freedom. In fact, companies who build freedom into their relationships are 10 times more likely to outperform traditional organizations in the short-term and more than 20 times more likely to outperform them in the long-term.
LRN's Freedom Index reveals that the quest toward freedom in political and social spheres extends to business and has consequences for a company's bottom line. It demonstrates that companies who give stakeholders both 'Freedom From' superfluous rules and 'Freedom To' pursue a values-based mission have a competitive advantage. Those that let go of control and create values-based relationships with employees, customers, supply chain partners and communities enjoy stronger financial returns.
"At LRN we have long been fascinated by what happens when individuals are given the opportunity to achieve without conventional constraints and barriers," said Dov Seidman, CEO of LRN. "The Freedom Index offers deep diagnostic and explanatory power that reveals the 'freedom fitness' of an organization. It is an answer to the urgent challenge of organizational leadership in the 21st century."
- Freedom Doesn't Come Easily. Only one in five companies exhibits high levels of freedom (i.e. reaping the benefits of being less hierarchical, more transparent and open) in its relationships with all of its stakeholders. Nearly half of all companies still fall in the low-freedom category, making them less equipped to meet growing demands for innovation, new ventures, and global collaboration.
- Freedom is Low for All Stakeholders. When looking at relationships with specific stakeholder groups, levels of freedom are still low:
- Only 44% of companies give their employees the freedom to experiment with new ideas.
- Only 55% of companies have freed their customers from hidden charges and/or complicated contractual conditions.
- Only 45% of companies have freed supply chain partners from excessive oversight, allowing for truer partnerships.
- Only 48% of companies give the communities in which they operate the freedom to participate in decision-making processes that affect them, such as those involving environmental impact, training for new skills, the local labor force, use of resources, etc.
- Human Values Lead to High-Freedom Relationships. How can businesses achieve freedom? By using values as more than components of a pretty mission statement. But not all values are created equal. The study shows human values (e.g. integrity, purpose, tolerance) are on average 3.7-times more influential in creating freedom for different stakeholders than non-human values (efficiency, profit-driven, risk-taking) are. Freedom, the study shows, translates into more innovation, better financial performance, and long-term success.
- Low-Freedom Companies have Weaker Trust, Values and Mission. Companies that exhibit little freedom in their relationships perform poorly when it comes to trust, values-orientation, and mission (-58%, -48%, and -43%, respectively), the study found. Conversely, high-freedom companies score highly across these key dimensions (80%, 77%, 91%, respectively). This is consistent with previous LRN research. In particular, the types of companies found to thrive in the 21st Century, according to LRN's HOW Report, also tend to be high-freedom companies.
About LRN's Freedom Index
In November 2013, LRN received 834 responses to an online survey from professionals and executives at U.S. companies that employ more than 1,000 people or have revenues of more than US$ 1.5 billion. Respondents rated statements about their companies' freedom in relationships with stakeholders on a 5-point Likert scale ("Almost Always True" to "Almost Never True"). Participants were also asked to select their company's core values and rate the influence of such values on daily decisions and activities within their organizations.
About LRN: Inspiring Principled Performance
Since 1994, LRN has helped over 20 million people at more than 700 companies worldwide simultaneously navigate complex legal and regulatory environments and foster ethical cultures. LRN's combination of practical tools, education, and strategic advice helps companies translate their values into concrete corporate practices and leadership behaviors that create sustainable competitive advantage. In partnership with LRN, companies need not choose between living principles and maximizing profits, or between enhancing reputation and growing revenue: all are a product of principled performance. LRN works with organizations in more than 100 countries and has offices in Los Angeles, New York, London, and Mumbai. For more information, visit www.lrn.com, follow @LRN on Twitter or join the HOW community on Facebook.
To arrange an interview with Dov Seidman, obtain a copy of the full report, or to ask any further questions, please contact us at [email protected].
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
Nov. 28, 2015 11:45 AM EST Reads: 392
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
Nov. 28, 2015 11:15 AM EST Reads: 408
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Nov. 28, 2015 11:00 AM EST Reads: 501
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Nov. 28, 2015 10:30 AM EST Reads: 306
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Nov. 28, 2015 10:15 AM EST Reads: 230
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Nov. 28, 2015 10:00 AM EST Reads: 181
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Nov. 28, 2015 10:00 AM EST Reads: 388
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
Nov. 28, 2015 09:00 AM EST Reads: 172
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
Nov. 28, 2015 08:45 AM EST Reads: 328
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and t...
Nov. 28, 2015 08:45 AM EST Reads: 431
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
Nov. 28, 2015 07:45 AM EST Reads: 206
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
Nov. 28, 2015 06:00 AM EST Reads: 240
Continuous processes around the development and deployment of applications are both impacted by -- and a benefit to -- the Internet of Things trend. To help better understand the relationship between DevOps and a plethora of new end-devices and data please welcome Gary Gruver, consultant, author and a former IT executive who has led many large-scale IT transformation projects, and John Jeremiah, Technology Evangelist at Hewlett Packard Enterprise (HPE), on Twitter at @j_jeremiah. The discussion...
Nov. 28, 2015 05:30 AM EST Reads: 728
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Nov. 28, 2015 05:00 AM EST Reads: 358
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true ...
Nov. 28, 2015 04:00 AM EST Reads: 536