Earning Relationship Capital (RC): Accounting For Your Success
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Earning Relationship Capital (RC) discusses the compelling trends and requirement for the capture, measurement, and utilization of Relationship Capital (RC) on-line for individuals, brands, and organizational success! Also, provides 10 Steps to Earning RC in todays' hyper-connected world.
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Earning Relationship Capital (RC): Accounting For Your Success
- 1. Trustability & Earning Relationship Capital (RC) Accounting for Your Success
- 2. Agenda • The Problem and the Vision • Trends Creating the Relationship Economy • Is There a Good Way to Measure Relationships Online? • Measure in Accounting Terms? • Define a Relationship Capital Interaction • How Relationship Capital can Help Industry • 10 Steps to Earning Relationship (RC)
- 3. Current Standards for Influence Relationship Capital (RC) Kred Net Promoter Score℠ , or NPS®
- 5. Current Standard for Trustworthiness Online
- 6. Our Vision for Your Relationship Capital
- 7. My 2003 Epiphany Conducting 5 year CIO Study for DePaul University: • “ Many CIO’s struggle with building & managing effective business relationships.” DePaul MBA Association Alumni Executive Panel: • Melissa Giovagnoli of Networlding asked me: “What is your #1 Value?”
- 8. Do You Take Relationship Capital?
- 9. Trends creating the Relationship Economy • • • • From Transaction to Interaction Markets are Conversations Ubiquitous Internet Connectivity Personal Branding: “We Are All Independent Contractors” • Mass Adoption In On-line Social Networking • Changes in Leadership Skills and Rewards • Designing for “Trustability”
- 10. 21st Century Leadership Analysis 20th Century* Leadership Transactional Inside-out Top-Down Boss to Employee Administer Efficient Centralized Information Value in Natural resources individual Accomplishment Tangible Value Credentials Quantitiative linear Inputs Time Management Security Specialist Hidden Liabilities Autocrat/Micro Manager Workaholic Male/Patriarchal Model Brick & Mortar Organizational Chart Speak Institution National Authority Confirmed Small Array of Leadership Styles Retirement Failure Authoritarian Answers & Assertions Broadcast & Inform Employees Work-Life Separation Career Path Servant/Ethical Leadership 21st Century* Service Relationships Outside-in Bottom-Up leader to Leader Empower Effective De-Centralized Judgement Value in People Collaboration Transformative** Partnering Relationships Multi-layered inside-out Partner to partner Partner & empower Output based Balanced Compassion Value in People Collaboration/Partnerin g Intangible value Stakeholder Value Lifetime learning Continuous learning Soft Skills Soft Skills Intuitive Agile Outputs Outputs Value Management Value Management Adaptability Flexibility Adaptable Generalist Adaptable Facilitator Undiscovered Value Undiscovered Value Coach, Conductor Coach, Facilitator Integrated Life Integrated Life Female/Inclusive Model Generational Inclusiveness Virtual Global Virtuality Digitized Information String Big Data Analytical Listen Listen & absorb Network Global Network global/local Global/Local consent Earned Relationship Capital Earned Infinite Leadership Styles Collaborative Leadership Styles Redeployment Strength Based Redeployment Stepping Stone Growth Conscious Renegade Ethical Renegade Questions Questions Narrowcast & Engage Focused and Engaging Team Members Associates/Peers/People Work_life Integration Life Path Leadership Work Life Integration Integrated Path Network Orchestrator
- 11. Mechanical Skill versus Cognitive Skill
- 12. Science of Human Motivation
- 13. If Then Rewards Work Well…
- 14. New Operating Model in 21 Century st
- 15. Trust and the Results Only Work Environment
- 16. Is there a good way to measure relationships?
- 17. What could we measure?
- 18. The Answer is … for the Capture & Measurement of Relationship Capital (RC)
- 19. ac⋅count⋅a⋅bil⋅i⋅ty - acceptance of liability for the consequences of choices; consideration of the long-term effect of one’s actions.
- 20. bound⋅a⋅ries – limitations imposed to indicate what is permissible within one’s value system.
- 21. hon⋅es⋅ty - the quality of communicating and acting truthfully, stating facts and views as best as possible, both internally and to others.
- 22. re⋅spect – the positive feeling of esteem for self or for another.
- 23. re⋅spon⋅si⋅bil⋅i⋅ty - the sense that one’s own actions are the source or cause of outcomes; the ability to act without guidance or superior authority.
- 24. sup⋅port - the act of giving help, moral or psychological assistance, or advocacy, either to self or to another.
- 25. trust – the confident expectation of another’s reliability, or of one’s own reliability.
- 26. Can we quantify these measures?
- 27. If we can’t, are destined to revisit ...
- 34. How Relationship Capital Helps Our Industry PROBLEM SOLUTION PROBLEM SOLUTION PROBLEM SOLUTION PROBLEM SOLUTION Measurement. “My company can’t harness the networking explosion.” “RC lets companies harness the networking explosion.” RNIA brings Relationship Capital into the mainstream so that companies can measure the effect of the networking revolution that is transforming their businesses, and so that kids and adults can have fun keeping score of their networking successes. Time Savings. “Networking is time-consuming: too many systems involved.” “RC makes networking fast, all-inclusive and mobile.” RC streamlines relationship-building by introducing a common language and enabling people, products and business units to immediately share any data, any time, on any mobile device or computer. B2B. “It’s hard to do business with my networking contacts.” “RC makes commerce an integral part of networking.” RC puts products and business units into the networking mix, enabling universal B2B coupled with the ability to build Relationship Capital, and letting individuals easily conduct online commerce with their contacts. Excellence. “No one knows what success is in a networking sense.” “RC rewards the best behavior of people and companies.” RC ‘s simple and powerful point system makes it possible for people, products and businesses to be the best they can possibly be. A common language and approach help individuals and companies reach their full networking potential.
- 35. Relationship Capital Interaction Process
- 36. Would it be reasonable to look at these things in accounting terms? Transaction 1: I commit to delivering a report Transaction 2: I deliver the report Asset 1 2 Liability
- 37. • Make and Keep Commitments • Positive Perceptions “Think of RC as your FICO Score of Trustworthiness” Bill Barouski, President, ACH Business, US Federal Reserve Bank
- 40. Relationship Capital (RC) Dashboard
- 42. The 10 Steps to Earning RC
- 44. Rob Peters Contact Info www.StandardofTrust.com www.twitter.com/standardoftrust www.linkedin.com/in/robpeters59 rob.peters@standardoftrust.com Cell: 708-819-8360
Notas do Editor
- Due to the Dot Com Meltdown I established the DePaul IT Executive Leadership Lab and created a CIO Survey that tracked over 80 CIO’s over a 5 year period.
- THE RELATIONSHIP NETWORKING INDUSTRY Relationship Networking is an expanding industry requiring direction, focus and standards. RNIA's role is to structure the industry as a formalized, accredited discipline. As the solution designed to manage the industry's growth, RNIA provides a common language, standardization of measurability, and certification. Reputation is at the heart of relationship networking. The acquisition of reputation-building skills is therefore essential. These critical skills translate into personal success, business profitability and lower operating costs. Most significantly, RNIA introduces Relationship Capital (RC). As a standard of measurability, RC is a key indicator of the quality of relationships, which serve to establish and maintain excellent reputations.
- Developed by Karl Dunker, Behavioral Pychologist 20th Century “Carrots and Sticks” motivation Experiment by Professor Sam Gluxburg now @ Princeton Top 20% - Group receives $5.00 Fastest – Group Gets $20.00 One Group incented by financial rewards and one group timed on establishing norms for solving problems. The group that was incentivized took 3.5 minutes longer than the other group. I believe in free markets and this makes no sense. That is not what social science has determined. This has been replicated for over 40 years.
- The TEAM SOLUTION
- Routine Rule-based processes like accounting and software programming can easily be outsourced. Everyone is dealing with their own “candle problem” MIT Students Study: Small Reward, Medium Reward, Large Reward. Mechanical Skills works fine Higher incentives lead to lower performance (study funded by Federal Reserve Bank of the United States)
- Not about Carrots and Sticks Incentives. In the 21st Century “Knowledge & Relationship-based Global Economy”; It is about more autonomy, desire for mastery, and clear purpose
- 2 Consultants developed this and is currently implemented in 12 US companies: Productivity goes up! Worker Satisfaction goes up! Turnover goes down! “This is not utopian” (Microsoft Encarta versus Wikipedia) Intrinsic motivators versus extrinsic Since ROWE is a team effort (next slide)
- Informal Poll of 100 Chicago-based C-level executives, 100% responded that relationships are an asset, but “goodwill” is not a good measure on the balance sheet.
- If relationships are an asset, what could we measure that would be meaningful to business leaders, boards, and to all company stakeholders
- According to RNIA’s CBOK (Common Body of Knowledge), Accountability is “a Relationship Capital Entity’s acceptance of liability for the consequences of its choices. The term is used to help an Entity consider the long-term effect of its actions.” CBOK’s Value of Accountability allows you to move away from a mindset where things happen “to you”
- Setting and keeping your boundaries, and honoring the boundaries of others, are among the most challenging and confusing behaviors in relationships. Boundaries are innate as well as learned. Every healthy person has an internal indicator of when a boundary is being violated. A boundary, when crossed by others, will create intense feelings of anger, hurt.
- Confucious asked ‘Without feelings of respect, what is there to distinguish men from beasts?’ Self respect is the benchmark upon which our values and morals are shaped. Through self respect we like ourselves because of who we are and not because of what we can or cannot do. It is to have pride and knowledge
- Wikipedia describes Trust is a ‘relationship of reliance. A trusted party is presumed to seek to fulfill policies, ethical codes, law and their previous promises.’ Trust is therefore deemed a prediction of reliance on an action, based on what a party knows about the other party. Trust is a statement about what is otherwise unknown Building “communities of trust’ is critical to managing the exponential growth of virtual networks. As social mediums continue to proliferate, people are forming clusters, hubs and global associations, primarily for professional purposes. To instill quality relationships in these social groups, RNIA’s CBOK (Common body of Knowledge) creates commonality in networking There are two distinct aspects of trust: 1.Trustworthiness and 2.Trusting
- Can we quantify the measures of trust, respect, honesty, support, etc?