INVENTURES

June 2018

 

The Importance of Transparency

We hear about transparency, or the lack thereof, in many areas of our lives. In government, in corporate, even in our personal life, transparency is a concept that resonates with everyone because it is such an important piece of open communication and building a culture of trust. The same applies to Inventures and the relationships we have with our clients. There are four reasons why transparency is necessary.

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What Is Client Stewardship?

Inventures is much more than just about managing clients - we are also stewards to our clients. What is the difference between management and stewardship? Let's start by taking the Merriam-Webster Dictionary definition of stewardship: the careful and responsible management of something entrusted to one's care. There are a few keywords in that definition noteworthy of highlighting. Careful, responsible, and trust are the key differentiators that take stewardship one step further from management which is only the process of dealing with or controlling things or people.

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Leading a Global Standardization Initiative for IP-based Physical Security Products

ONVIF began in 2008 as a small group of manufacturers collaborating to create a global standard for the interface of video system components and aid the industry in adopting IP-based technology. With a goal in mind to provide greater freedom of choice for installers and end users alike, the founders, Axis, Sony and Bosch, also hoped that standardizing how products communicated with one another would ease the product development process for manufacturers, allowing developers to spend more time on innovation.

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Take Your Strategy into High Gear

Research suggests that there are several specific shifts that can dramatically improve the quality of an organization's strategic dialogue and the resulting outcomes. First, start to look at strategy as a journey and not part of some set annual plan. Second, during discussion about strategy, reframe the deliberations as a choice-making exercise instead of a plan-making one. In other words, don't discuss just all-or-nothing plans, but have strategic alternatives-different scenarios with various levels of resources and risk. Third, stop spreading resources too thinly. This means placing greater emphasis and resources on achieving a few breakout wins.

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imageThe Importance of Transparency

We hear about transparency, or the lack thereof, in many areas of our lives. In government, in corporate, even in our personal life, transparency is a concept that resonates with everyone because it is such an important piece of open communication and building a culture of trust. The same applies to Inventures and the relationships we have with our clients. There are four reasons why transparency is necessary.

  1. Building Relationships
    Trust is such a key factor in building solid relationships and the first step is to provide full transparency. It also keeps the clients involved and up to date on what we do and how we serve them.
  2. Alignment
    Transparency provides better alignment between Inventures and our clients. It enables a way for our clients to understand the role we play in and how it fits into the client's mission. Better cohesion results in better collaboration in achieving goals and objectives.
  3. Solutions
    Finding solutions to problems faster and more efficient is also a result of transparency. By providing full transparency to our clients, we are also demonstrating accountability to issues and encourage the team to find solutions.
  4. Engagement
    A culture that values transparency enables engaged clients. By communicating and providing continual updates, we develop a close working relationship that encourages open and honest feedback from our clients.

As client stewards, it is our responsibility to provide full disclosure and transparency to the organizations we serve. By doing so, our clients have confidence that we have good business sense and are working towards success while deepening the relationships we have with one another.

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imageWhat Is Client Stewardship?

Inventures is much more than just about managing clients - we are also stewards to our clients. What is the difference between management and stewardship? Let's start by taking the Merriam-Webster Dictionary definition of stewardship: the careful and responsible management of something entrusted to one's care. There are a few keywords in that definition noteworthy of highlighting. Careful, responsible, and trust are the key differentiators that take stewardship one step further from management which is only the process of dealing with or controlling things or people.

Our goals are closely tied to the client's goal and we look out for the best interests of our clients by treating the association as if it was our own. We see ourselves as strategic partners and take personal responsibility for taking care of the client. This is why stewardship is at the forefront of our core values.

Trust is the single most important aspect of our role at Inventures. We are accountable for our client financials, assets, and overall health. Our clients have full trust in our ability to manage their operations which enable them to focus on achieving their strategic objectives. In addition to the day-to-day, associations are constantly evolving with lots of moving parts. Providing the right guidance at each stage of our clients' lifecycles is another way of how we put stewardship into practice and treat it as a commitment.

Our commitment is reflected in every action and decision made on behalf of our client organizations. From lifecycle management to operations, stewardship is a way to strengthen the partnerships we have with our clients by taking joint ownership of our clients' goals and objectives. By demonstrating stewardship, we are trusted partners and foster valuable relationships with our clients.

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imageLeading a Global Standardization Initiative for IP-based Physical Security Products

ONVIF began in 2008 as a small group of manufacturers collaborating to create a global standard for the interface of video system components and aid the industry in adopting IP-based technology. With a goal in mind to provide greater freedom of choice for installers and end users alike, the founders, Axis, Sony and Bosch, also hoped that standardizing how products communicated with one another would ease the product development process for manufacturers, allowing developers to spend more time on innovation.

This initial common goal exploded into what is now known as ONVIF. By providing de facto standards to the security industry and vertical markets alike, ONVIF has eliminated the need for single-manufacturer commitments, and in turn has opened the realm of possibilities. Do you like one manufacturer's video management software but prefer a camera with a feature set more applicable to your application? ONVIF conformance means there are thousands of products - and six different Profiles - from which to choose to build your ONVIF conformant IP video surveillance or access control system.

What started as an organization with only 13 members now has over 450 today, and stretches across six continents, with nearly 10,000 conformant products available.

More and more devices are becoming IP-enabled, producing massive amounts of data, whether from cameras used for surveillance or measuring occupancy levels or traffic congestion. In the future, we see ONVIF playing an influential role in applications such as Safe Cities, SmartTransportation, IoT applications, intelligent building automation and smart homes, taking advantage of the interoperability the ONVIF interface provides from the sensor level to the management platform. Such interoperability is needed for a wide range of sensors in smart cities, smart buildings and smart homes to meet the expectations of users at many levels for convenience, intelligence and usability of their systems.

Through the work of member companies and the input of the industry at large, ONVIF is looking to play a strong role in developing the next generation of global standards for the interface of video system components.

Since 2008, Inventures has worked with ONVIF in developing and expanding the IP-based physical security ecosystem. Over the years, we've provided them membership management, financial services, marketing services, certification management, member meeting services, tradeshows and events, executive leadership, global headquarters services, workgroup collaboration and web/IT services. Our services allowed ONVIF to stay focused on the goal of providing and promoting open interfaces to the security industry for effective interoperability.

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imageTake Your Strategy into High Gear

Research suggests that there are several specific shifts that can dramatically improve the quality of an organization's strategic dialogue and the resulting outcomes. First, start to look at strategy as a journey and not part of some set annual plan. Second, during discussion about strategy, reframe the deliberations as a choice-making exercise instead of a plan-making one. In other words, don't discuss just all-or-nothing plans, but have strategic alternatives-different scenarios with various levels of resources and risk. Third, stop spreading resources too thinly. This means placing greater emphasis and resources on achieving a few breakout wins.

Another strategy shift is to view performance holistically and not just by the numbers. The strategic initiatives that underpin a plan should be as important as the numbers. "You look at the performance of the system as a whole. The urge to push individual accountability can actually be counterproductive when it comes to strategy, which is really a team sport," the article's authors write. Also, there should be a sense of shared ownership in the organization's fortunes and a clear alignment of incentives to get the full commitment of the team. Finally, recognize that the first step in any grand vision is crucial and should not be overlooked and minimized. After identifying your strategy, work back from the destination and set the milestone markers or goals at six-month increments. This is what strategy professor Richard Rumelt calls "proximate goals," explains the authors - missions that are achievable within a meaningful time frame.

McKinsey Quarterly (04/18) Bradley, Chris; Hirt, Martin; Smit, Sven

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