by Rene Street | May 27, 2019 | Uncategorized
Author, KRISTINA PODNAR is a digital policy innovator. For over two decades, she has worked with some of the most high-profile companies in the world and has helped them see policies as opportunities to free the organization from uncertainty, risk, and internal chaos. Podnar’s approach brings in marketing, human resources, IT, legal, compliance, security, and procurement to create digital policies and practices that comply with regulations, unlock opportunity, strengthen the brand and liberate employees.
Just as we have gotten used to the idea that the EU’s General Data Protection Regulation (GDPR) is a fact of life and have made modifications in our data collection procedures, the Brazil General Data Protection Law (LGDP), the California Consumer Privacy Act (CCPA), and waves of proposed new data privacy laws are swirling in the calm forewarning of a privacy tsunami heading our way. In the middle of such deep acronym swirls, it could be easy to be overwhelmed. However, all the privacy regulations share a number of commonalities and by addressing these now, you will be on high ground as the waves begin to pound.
The compliance life raft
While you will need to pay attention to the details of individual data regulations as they arise, whether already adopted, pending adoption, or only proposed, all the regulations share certain commonalities that you should consider addressing as part of ongoing operations.
Accountability and governance
At the heart of data privacy requirements is the aim to have organizations develop a plan to self-manage data in a way that respects end users. To address accountability and governance requirements in your organization, consider, have you:
- Reviewed the applicability and risk to the organization from data privacy issues, and considered alternatives, including insurance, in case you are fined?
- Mandated that data privacy become part of the policy program, including staff training, measurement, and compliance reporting?
- Clearly documented roles, responsibilities, and reporting lines to embed privacy compliance
Consent and processing
A fundamental privacy regulation concept is that end users are aware when and why their data is collected, and what happens to it once it’s given. To address these requirements, ask yourself whether you have:
- Reviewed that the data being collected and used is necessary and for the benefit of completing a desired action by the user?
- Identified sensitive data and ensured it is treated as such through the use of special encryption or by validating vendor storage practices for sensitive data, etc.?
- Confirmed that user consent for data collection is clearly captured and documented, and that user data can be modified or erased?
Notifications and data rights
Gone are the days of legalese or simply taking data from users because we can. Data privacy regulations require transparency, user awareness, and forthright behavior by businesses. To ensure you get this right, ask yourself whether the organization has:
- Written user notices clearly so they can be easily understood—properly targeted to children where relevant—and are reflective of specific data collection and usage purposes?
- Updated the internal organization’s data privacy policy to clearly state the rights of prospects and customers regarding the collection and processing of their personal data?
- Created and tested processes to correct and delete all user data if needed?
- Developed a solution to give users their data in a portable electronic format?
Privacy design
Organizations that treat privacy as a core design principle will always be in alignment with data privacy regulations. In my consulting experience, I see many self-disciplined organizations that have historically had good privacy practices and have little to address with each new law. To get to that state, ask whether you have:
- Created or updated the policy and associated process to embed privacy into all technology and digital projects, including those outsourced to vendors and partners?
Data breach notification
For many organizations, the question nowadays isn’t whether the organization will have a breach, but rather when will it happen and how will they respond. To address regulatory breach aspects, ask whether the organization has:
- Created (or reviewed and updated an existing) data breach policy and response plan to reflect detection, notification, and the actions to mitigate loss?
- Considered and obtained insurance for a possible data breach and regulatory penalties that the organization may face but not be able to handle on its own?
- Incorporated data breach terms and requirements into all vendor and third-party contracts?
Data localization
New data privacy regulations state where data physically must be stored, and if transferred to another country, what are the requirements for doing so. Your organization will be well positioned to meet this requirement if it can answer:
- Have we identified and updated all cross-border data flows from the country where the data is collected, and reviewed data export for on-premise and cloud solutions?
Children’s online privacy considerations
Data privacy regulations are concerned with end users, but are even more strict about children and their online data protection and rights. It is best to get ahead of these issues by asking whether the organization has:
- Defined what data it collects from children, whether as a business practice or through efforts like “take your child to work day”?
- Are user notifications and online privacy statements written in a way that a child could understand them, and do they state that parental consent is required?
Contracting and procurement
Most businesses may struggle to understand exactly what personal user data is collected via websites, mobile applications, and other digital platforms, especially through third-party software solutions and vendors. To make sure that your organization isn’t caught out, ask whether you have:
- Reviewed and ensured that all vendors, customers, and third-party agreements reflect data regulatory requirements?
- Defined procurement processes such that privacy is integrated into all products and services the organization buys, including regarding data minimization, the visibility of onward data flows, and data ownership?
by American Business Women's Association | Feb 27, 2019 | Blog, Uncategorized
By Ted Janusz
Can you relate to this? John Wannamaker, the Philadelphia department store magnate, said “Half the money I spend on advertising is wasted; the trouble is, I don’t know which half.” But there is one form of marketing, that ALWAYS works … what is it?
WORD OF MOUTH!
Of course, now with the internet and social media, you could call it WORLD of mouth marketing. People are six times more likely to rely on the word of other people when making a buying decision rather than advertising.
In fact, 80% of consumer buying decisions are based on personal recommendations. Here’s why it works …
The average American adult knows 400 people … people you work with, went to school with, or people you know socially. If you assume each of those 400 people know 400 others (of course, there will be some overlap – but let’s keep it simple), you now have an immediate network of 140,000 people.
And if you assume those 140,000 people know 400 others, you are up to one-third of the US population. And what will people spread about your business, good news or bad? Right! Bad news!
Your average satisfied customer will tell 5 to 8 others. But your average upset customer (if you have any) will 10 to 16. In fact, one in five will tell 20 people how upset you have made them.
In their book Creating Customer Evangelists, authors Ben McConnell and Jackie Huba say, “Competition for entertainment dollars – where Dallas Mavericks owner Mark Cuban says he competes – is fierce. To succeed, he must continually focus on increasing the average lifetime value of a Mavs season ticket holder. In 2002, that figure was $300,000, according to Cuban. “The Chicago Cubs, you’ve got to wait in line to get your season tickets,” he says. “That’s the goal … then I don’t have to spend lots of money on salespeople and all kinds of support efforts – I’ve just got to keep [customers] happy. It’s a lot easier to keep ‘em happy than to go out and get new ones to replace ‘em.”
Now the lifetime value of one of your customers may not be $300,000 like it is for the Dallas Mavericks. But once you determine what that value is for you, you’ll realize how important to keep those customers happy – since they, bar none, are your best source of marketing.
Ted Janusz, MBA, CSP is a Certified Speaking Professional who has delighted audiences for more than 5,000 hours, in 49 of the 50 United States, in Canada from Halifax to Vancouver, in Australia, Mexico, and Puerto Rico. Learn more at www.januspresentations.com.
by American Business Women's Association | Jan 19, 2019 | Uncategorized
CONTRIBUTING WRITER, LEIGH ELMORE. LEIGH SERVES AS THE EDITOR -AT-LARGE FOR ABWA’S WOMEN IN BUSINESS MAGAZINE AND ACHIEVE NEWSLETTERS.
Pioneering Astronomer Nancy G. Roman was “Mother of the Hubble Space Telescope. Nancy Roman knew from a very early age that she wanted to be an astronomer. Her greatest challenge was convincing the world that she could be a very good one. Overcoming traditional gender roles in the scientific community was almost as daunting a challenge as paving the way for the Hubble Space Telescope, an achievement for which she is most remembered. Roman, known as the “Mother of Hubble,” passed away on Christmas Day 2018 at the age of 93. She was NASA’s first chief of astronomy and one of the first women executives for the agency. Her achievements will live on
Her family moved around the country frequently when she was growing up. Roman cited both of her parents’ interest in the natural world—and her time beneath the clear night skies of Reno, Nevada—as an inspiration for her early interest in astronomy. Fueled by a fascination for the stars, she began her own astronomy club with a group of neighborhood girls when she was 11 years old. Though she knew she wanted to be an astronomer by the time she entered high school, her guidance counselor, who belittled her desire to take mathematics instead of Latin, discouraged her.
A promising student at Swarthmore College, Roman still had to ignore warnings from the Dean of Women and other teachers about studying science, ultimately earning her B.A. in Astronomy in 1946. She later recalled that the only encouragement she was given during her undergraduate years was by a teacher who told her, “I usually try to dissuade girls from majoring in physics but I think maybe you might make it,” National Geographic has reported
Roman went on to receive her Ph.D. in Astronomy at the University of Chicago in 1949, where she worked for six more years at the Yerkes Observatory as an instructor and assistant professor.
Seeing little chance for tenure as a woman, Roman took a position at the U.S. Naval Research Laboratory in Washington, D.C. where she eventually won the trust of her peers and began to work in radio astronomy, geodetics, and microwave spectroscopy.
She attended a lecture on the origin of the moon given at the newly formed National Aeronautics and Space Administration in the late 1950s where she was presented with the opportunity to work for NASA and set up a program in space astronomy.
As she told National Geographic, “The idea of coming in with an absolutely clean slate to set up a program I thought was likely to influence astronomy for 50 years was just a challenge that I couldn’t turn down. That’s all there is to it.”
She dedicated her time at NASA to promoting, initiating and supporting in-space observation, from satellites to the Scout probe. In 1964, her name was even given to a newly discovered asteroid, 2516 Roman.
But Roman’s crowning achievement at NASA was perhaps the greatest gift ever given to astrophysics: the Hubble Space Telescope, the groundbreaking satellite observatory that has generated more than 1.2 million observations and 14,000 scientific papers. Roman tirelessly laid the foundation that eventually made NASA’s space-based observatory a reality.
She retired from NASA in 1979 having prepared the way for Hubble’s eventual launch in 1990. “My work helped others explore the evolution of the galaxy,” she told National Geographic. “I did not let the fact that I was a woman deter me.”
Source: National Geographic, Dec. 31, 2018
by American Business Women's Association | Dec 11, 2018 | Blog, Uncategorized
The life of an entrepreneur – or at least the idea behind that life – can seem enticing to just about everyone. You launch a new enterprise that makes millions – and maybe even changes the way people lead their lives. But why do some people follow through on such visions with great fanfare and success, while others fail miserably – or never follow through at all?
“There’s just this mindset that the very best entrepreneurs have that positions them for success when others around them are struggling and unable to stay the course,” says Peter J. Strauss (www.peterjstrauss.com), an attorney, entrepreneur and author of the upcoming book The Accidental Life.
Strauss says that anyone who is feeling the entrepreneurial tug, and wants to mimic the most successful entrepreneurs, would do well to consider these three points:
- Remember that fortune favors the bold. On the outside entrepreneurs may appear confident and assured in their actions, ready to take the steps needed to achieve success without hesitation. In reality, Strauss says, most successful entrepreneurs have a voice inside them imploring them to wait, to not take that chance. The difference between them and others is they ignore that inner voice. “In my career, I tried to prepare myself as best I could for my next step, but I always had to take a leap of faith to some degree,” Strauss says. “There’s never going to be perfect time or situation that is a guaranteed win. For any significant opportunity, there is always a risk.”
- Take the “life gives you lemons” approach. Things don’t always work out the way we hope, but that doesn’t mean you have to accept defeat. Strauss points out that Steve Jobs was once fired by the board of the company he founded. “Steve Jobs easily could have decided that his life as an entrepreneur was not meant to be,” Strauss says. “Instead, he built another company and eventually found himself back at the helm of Apple. Jobs knew that whatever happened, his was not going to be a story of failure.” It’s inevitable that life will throw you curveballs, he says, so learn to hit them. “The good news is that adaptability can be learned,” Strauss says. “The more you train yourself to see possibility in the curveballs, the more you will adapt to hitting singles, doubles and even home runs.”
- Understand the “family” connection. Businesses often describe their organizations as “family.” Sometimes that’s just lip service, Strauss says, but in the best corporate cultures the team respects one another and holds each other accountable – much like a family. “If you are in a leadership position, it’s up to you to instill this mindset and to be the role model for it in your company,” he says. He even discovered that the business family he created as an entrepreneur helped make him a better parent. “If I don’t set clear goals and expectations at work, I can’t be disappointed or surprised when my team falls short,” he says. “The same holds true at home. Framing expectations as a dialogue will make your family and your team feel valued.”
“Ultimately, no matter the obstacles, entrepreneurs just find a way to persevere and get the job done,” Strauss says. “But that doesn’t mean it’s always easy. There are real risks involved. People rarely see all the ins and outs and ups and downs of what it takes to reach a place where you feel real success.”
About Peter J. Strauss
Peter J. Strauss (www.peterjstrauss.com) is an attorney, entrepreneur and author of several books, including the soon-to-be-released The Accidental Life. He is the founder and managing member of The Strauss Law Firm, LLC, on Hilton Head Island, S.C, and also the founder and CEO of Hamilton Captive Management, LLC. He is a graduate of the New England School of Law and of Harvard Business School’s Owner/President Management program.
by American Business Women's Association | Dec 5, 2018 | Uncategorized
Generation Z comprises your newest group of customers and employees. But how much do you know about those who were born after 1995? To understand Generation Z, let’s compare them to the other four generations of people that preceded them who may be currently buying from or working for you.
Matures – born before 1946
These people could be your parents, grandparents or even your great-grandparents. They tend to be task oriented. Matures believe in rules of conduct and respect for authority. When they were young, they did not question; they simply did as they were told. Society was characterized by a militaristic, top-down structure. After all, many matures grew up during World War II or the Korean War. Members of this generation, for the most part, want conformity and rules.
There has always been inter-generational conflict. Members of the next generation (Baby Boomers) probably approached Matures with “You know, maybe there is a better way to do things.” Matures likely responded with, “No! This is the way has always been done. And it always will be done this way!”
Baby Boomers – born between 1946 and 1964
Most members of the next generation of employees desire meaningful work, and to have a bottom-line impact on the success of the organization. But they also want praise, recognition and appreciation for their extra hours and hard work, as well as the resulting financial rewards that accompany them. Boomers live to work.
In general, this generation is probably the most materialistic of the five. The attendees of my workshops theorize as to why the generations act the way that they do. One attendee speculated that Baby Boomers are so materialistic because many of their parents, who were Matures, struggled financially while they were growing up. Therefore, Matures instructed their Baby Boomer sons and daughters, “We don’t want you to deal with the hard times that we had to endure. Go make something of yourselves!” So Boomers did.
Generation Y – born between 1965 and 1980
Many of my attendees who are Gen Y feel like they are the forgotten generation. “Everybody seems to talk about Baby Boomers and Millennials,” they say. “Nobody seems to ever mention us.”
Like the Baby Boomers, most of Generation Y wants meaningful work. But with that desire comes an important caveat: they also desire a healthy work-life balance. They want relaxed dress codes, flexible leave policies and a freedom to do their job. Finally, they want a boss who is sensitive to their need for work flexibility and family values.
Millennials – born between 1981 and 1995
The next group is currently the largest generation in the workforce. Millennials (or Generation Y), for the most part, want to participate on a variety of substantial, important projects, which will allow them to learn and use new skills, especially their technical skills.
Millennials desire work that is personally rewarding. Because, unlike Baby Boomers who live to work, Millennials only work to live. They believe in Y.O.L.O. – you only live once – so you need to experience all that life has to offer, especially outside the job. This generation likely wants a boss who is more like a coach or mentor; they dislike bosses who are formal or hierarchical.
Some interesting facts about Millennials …
What percent of today’s adults are currently married with children compared to Baby Boomers of the same age? Baby Boomers – 50% whereas Millennials – 12%
What percent of Millennials expect to stay on the job for less than three years? 91% – which will translate into 15 to 20 jobs over their working lives
Where do Millennials want to live? 41% say in or near the cities
Generation Z – born between 1996 and the present
- It would be a mistake to think of this most recent generation as simply “mini-Millennials,” since they have characteristics that are uniquely their own.
- Gen Z is the most ethnically diverse generation. By 2020, nearly half of America’s youth will belong to a minority race or ethnic group. They tend to notice diversity only when it is lacking.
- Also by 2020, Generation Z will account for 40% of all consumers.
- Millennials are spenders, whereas Generation Z are much more cost-conscious. In fact, many of this generation prefers to shop in stores. They like to feel and see products in person. They want to make sure that they’re buying something high-quality.
- When Millennials were in middle and high school, brand names were all the rage (think Abercrombie & Fitch); Generation Z worries more about the economy and world ecology.
- When it comes being online, Millennials were born into the Internet; Generation Z has mastered the Internet. In fact, 40% of Generation Z said that working Wi-Fi is more important than operational bathrooms because teenagers spend an average of nine hours a day on social media. (Does your business have a social media presence to reach your next generation of customers?)
- Generation Z multitasks on five screens, not just one or two. As a result, Gen Z’ers have an attention span of about seven seconds. They experience F.O.M.O., which is a Fear Of Missing Out.
- Nine out of ten teenagers watch YouTube daily, and almost half “can’t live without it.” In fact, one of my attendees is a teacher. She told me that her students “don’t watch broadcast TV. No, they have influencers on YouTube that they follow. Every Thursday evening at 7:30, for instance, a particular social media celebrity will release a new episode. And they’ll be there to watch it.”
- Generation Z wants to know that brands financially support the same causes they do. They love to know that their purchases are making a real difference. And if Gen Z’ers can help produce or create the marketing message, they will be more responsive to it.
- When it comes to a career, 60% of Generation Z want their jobs to impact the world. Whereas Millennials are looking to get enough experience to beef up a resume and then move on, 75% of Generation Z would rather stay at the same company, but have different roles; perhaps serving stints in marketing, then accounting, then HR.
- Do you realize that 44% of recent college grads are employed in jobs that don’t require a college degree? 75% of Generation Z say there are other ways of getting a good education, rather than going to college, getting a degree and, with it, a boat-load of debt.
- According to Adecco, their number one aspiration after college is not to find the ideal job, as a Millennial might typically say, but instead to simply be financially stable.
- Millennials are collaborative; Generation Z is competitive. They saw their parents struggle through the recent recession enough to realize that in real life, (unlike what many Millennials might have been led to believe growing up) not everybody gets a trophy. As a result, 77% of Generation Z expects that they will need to work harder to achieve success than any previous generation.
About the Author
Ted Janusz, MBA, CSP is a Certified Speaking Professional who has delighted audiences for more than 5,000 hours, in 49 of the 50 United States, in Canada from Halifax to Vancouver, in Australia, Mexico, and Puerto Rico. Learn more at www.januspresentations.com.
by American Business Women's Association | Nov 30, 2018 | Uncategorized
With 2019 just a few weeks away, managers and business owners are charged with writing a business plan. Shared by experts, here are 10 tips for jump starting your planning process:
- Know your competition, and be willing to capitalize on your competitive differences in the delivery of your packaging, pricing, products and services.
- Take time to identify your target customers and research industry trends that could impact your business performance.
- Use your past performance as a guide post when setting your business goals versus relying on your intuition.
- Identify variables that positively or negatively impacted your performance this year, and identify any potential threats that will impact your performance next year.
- Be conservative when it comes to your financial projections, and always build in a financial cushion in the event of lag performance or market variations. Cash flow is still king (or queen in case of the women business owner/executive)!
- Present your financial projections in a standard business format.
- Be realistic about your team’s competencies and capabilities when defining your business goals.
- Think like a journalist and avoid superlative adjectives like “amazing” and “outstanding.” Instead, aim for clarity and brevity without being needlessly wordy.
- Be prepared to support your business assumptions when presenting your plan to vested parties by answering the questions you think are likely to be asked during your presentation and,
- Finally, commit to your plan by monitoring and measuring your performance regularly.
These 10 tips should help when it comes to jump starting your planning process for 2019. For more support writing a business plan for your business, click here to join the American Business Women’s Association.
