I was waiting for my laptop to boot, somehow it takes longer today than any other day. I then turn and flip some magazines – found a company called Climeworks. They were listed as one of the innovators in climate action business. Pretty cool! Actually their climate solution is focusing on decarbon the air. They call it “Active Air Capture”.
Basically the solution works by blowing air through reusable filters that chemically trap CO2 (Carbon Dioxide). Then heating the saturated filters to release the gas then inject it underground to bind with basaltic rock, which can hold it indefinitely. Wohauu!!
I headed on to their website and found this. Climeworks work with three main sectors namely Food & Beverage, Greenhouses and Energy, Fuels & Materials. What I found interesting was in Food & Beverage – where CO2 is needed to make carbonated drinks, here they want CO2! See below – from Climeworks website
Personally I feel this technology works best in certain environment, as Climeworks based in Iceland. I am not sure whether this method works in other place. The model looks convincing, nonetheless.
Some other considerations is the capacity of capturing the CO2 and release it back as renewable energy into sectors that use CO2. Wondering whether there’s such a thing called CO2 trading online using blockchain technology.
You can get more information here www.climeworks.com
In 2017, my team and I met more than 1,000 people from multiple workshops throughout the year when we ran our flagship training, Design Thinking Innovation workshop. The significance of design thinking workshop is in the fieldwork, which I’d like to call as ‘The Field”. During the fieldwork, the trainees last year interviewed between 2,000-3,000 people last year.
From those multiple workshops we had, they generated lots and lots of ideas. The following were the Top Five Great Ideas in 2017:
1.Student loan (PTPTN) becomes the employer’s benefits for employees.
Most employees, young executives particularly carry substantial student loan – around RM 30,000 – RM 45,000 (locally known as PTPTN).
These loans were part of their commitment when they study in local universities. Part of the deal with PTPTN, once the students graduated they need to repay back to PTPTN. Somehow this didn’t happen as effective as both parties wished, PTPTN overall repayment rate is very poor, only 3% .
What if the PTPTN loan is taken over by the employers as part of employees benefits? It could be carve out from the insurance provision or medical benefits. Someone from Compensation & Benefits (ComBen) in HR department could advise this better. Or maybe if you have thousands of staffs with PTPTN loan, it certainly could amount to few millions RM, how about having a company to manage this loans? Well, something to think through.
2. Children bank account package just like we used to have 30 years ago.
Wither children bank accounts in our local bank? You probably noticed that many banks these days do not really have an attractive children bank account like we used to have aeons ago such as Yippee, Bank Bumiputra and Tabung Haji (where you get a replica of Tabung Haji building as your coin box). I opened bank account for my kids recently and few years ago, then I received a link via SMS from the bank – excited then I clicked the link – the I was upset – because it was a bad link (automated from their system but poorly maintained either by the marketing department or webmaster – yes let’s start the blame game!)
From “The Field”, we found a lot of respondents wondering why the bank no longer offer beautifully designed children bank account. Actually later I found the answer from some senior bank managers who said, “deposits are outdated, banks prefer offering financing these days.” I was rather upset because the answers we “soooo like bankers”. LOLS. Haven’t they heard Fintech? LOLS
What if the local bank could revive and rejuvenate children bank accounts once again? Make investment and saving as part of everyday lingo in the family. These days, saving and investment is missing in children’s vocab, all they know is buying this and that. I know some local banks offer children bank acccount, most of it dull. Make it fun and exciting please!
3. Investment account that’s accessible by “normal and average Joe”
Normal and average Joe has only saving account. Many roll up their eyes when we talk about investment products from banks. They either just haven’t heard about it from the bank or they just said the bankers tell them these investment products are only for the HNWI (high net worth individuals).
What if the bank could give access to their simple product that usually require RM 100k deposits from one HNWI to “100 normal people and average Joe that have RM 1k for investment and wealth creation?”
4. Make Top Management (Senior Vice Presidents and C-suites) teaching in the company
The knowledge gap in the company (especially tacit and implicit) is growing wider. The gap is widely seen between the Top Management and Middle Management to Entry level Executives could only be fixed not with hiring external consultants or run training programs after training programs or coordinate leadership development programs after programs, ratther companies have to start to look for the solution internally.
The challenge is often, the management is asking the wrong question and always in a hurry to look for the right answer. The question they usually asked is “why our knowledge gap is getting wider?” which is looking for the right answer. Instead the appropriate question should be, “how to accelerate the spread of knowledge between the management faster?” which is to explore possibilities. One of the popular ideas generated in our workshop is to “teach the top management how to teach their managers”.
What if we could teach leaders how to teach their strengths and transfer their skills? Further research would validate this idea that General Electric (GE) have done this many years ago via Crotonville University.
In Malaysia, the proliferation of new generations as the workforce is already between 50-70% at the executives and junior managers level. Some companies that have thousands of employees, could save money from providing uniforms for white collar executives and junior managers. In some companies, the top management still frowned upon the concept of “Dress down” day. The concept allows the employees to dress with anything they like within the formality guidelines, although some companies have little guidelines, having something to rely on will do more good than harm.
The new generation prefer freedom of expression and they do have nice collection of wardrobe simply because fashion these days are cheaper and with so many options. Therefore allowing them to “dress down” in most of the days, it will give them the “extra benefits” to stay in the company and would boost their morale and consequently productivity while working in the organization. In other words, when you allow them to wear jeans, slip on shoes, hoodies etc, they will work harder.
In our interviews with the millenials respondents, that was the feedback and the great idea was “Dress down day”. Check out this analysis from NY Post on “Dress down and productivity”.
What if “Dress down day” could boost productivity and increased morale of the employees, would that save the company in medical bills and unproductive work habits? Of course, save of the uniform tailoring too!
Well, those are the Top Five Great Ideas in 2017. I will be sharing more stuffs and great ideas from “The Field” from my LinkedIn-Khairul Anwar. See you there!
I have been wanting to write this Megatrends post for some time, its just I couldn’t. I was going through multiple reports on Megatrends from the net and they are very exciting. I also read some books to dig deeper into the subject and trying to find out what is it all about.
Here are the Quick Summary from various sources, which I will provide you the links at the bottom of this post.
DEMOGRAPHIC CHANGE – In all megatrends report, demographic change becomes the central theme that’s driving all the other elements. I still remember Drucker’s word in one of his chapters titled “Sources of Innovation”. He said, “when there’s huge demographic change we should expect huge change in other variables.” Demographic change includes ageing population, drop in birth rates, people live longer, greater access to basic needs, access to education and urbanization.
ENVIRONMENT SUCCESSION – Many called it crisis, I prefer the word “Succession”. Dr Thomas Friedman in his book “Thank You For Being Late”, called it “Mother Nature”. We need to make sure we are able to successfully cater to few more billions people in the next 2-3 decades. This include access to food, water, energy and air. When we have more people, we need more space. When we need more space, we clear the environment to make way to housing etc. All of us need to be creative in consuming. As it is our consumption habits may not be sustainable in the long run. Hence I prefer the sharing economy.
MACHINES & TECHNOLOGY – The “rapid feeling of change” that we feel today started around 2006 & 2007 (Tom Friedman). It is the time in between when Facebook & Apple technology hit the market. Fast forward 10 years later, all the technology converged and “gave birth” to Industry 4.0. Now, you can feel the word “disruption” and it is not going to stop. There’s a lot of development in internet, telecommunication, smart factories, artificial intelligence, robotics, data analytics, automation, virtual reality, IoT and digital solutions. You will probably gain more insights by reading Moore’s Law on how technology double itself in almost every year these days.
MONEY MODELS – Whilst not many Megatrends cover this specifically, I intend to add on and highlight this as an important trend. The freenomics is an interesting money model. The rise of social enterprise also a trend that corporations need to consider integrating in their overall business strategy. The sharing economy is creatively emerged as the way forward for us to adapt to new pattern of consumption. As the number of connected population increases, innovative money models certainly more sustainable for any organizations.
PERSONAL EXPRESSION – This trend is covered in one of the reports which I found important to point out. Most people have more choices now. Thanks to wealth created from various economic entry points. Consequently, corporations are struggling to meet everyone’s need (although it is impossible, similarly impossible vice versa!). This includes the way people want to work, what they want to wear & use (brands & functional), how they think, when they want to be with their families, who they want to be their boss and so on. This will demand more flexible, adaptable and much less command & control organization. I remember reading PwC report back in early 2000, about the future of work, it says something like this, “in the future there’ll be a few large organizations and these organizations are served by SME, micro enterprises and independent experts.”
GEOPOLITICS – Several of the reports covered this topic. I could agree that geopolitics is also important. Our economies are more integrated than ever before. When some nations in crisis, some other nations are in growth mode. Some countries have more money and on shopping spree around the world. This posed a new dynamics in terms of culture and national income. The big trading nations such as China, USA, Russia, Brazil, UK (?), Euro (?), Middle East (?), Asean countries (?) and thriving ground for new market. Then there’s war going on in some parts of the world, war-mongering attitudes around neighbouring countries and strained international relations.
Khairul in the opinion that in the coming years and beyond 2020, human values becoming very central and core to nation, organization and personal development. Be nice to others, because we can!