Instagram <=> $ 1 Billion Evaluation
No revenue.
12 employees.
Three year old company.
$1 Billion buyout by Facebook.
Risk => Revenue => Don’t add up.
Go figure …
Another example of the demise of traditional business logic or the evolution of new business rules.
“The moving finger writes; and, having writ, moves on:
nor all thy piety nor wit shall lure it back to cancel half a line,
nor all thy tears wash out a word of it.” Rubaiyat of Omar Khayyam
What are we getting with all of these free networking and social networking sites? When someone wants to “friend” you or join your network, how do you know they are who they say they are? Do you really need, or have time for, 100 or 1000 friends? When your children are grown and thinking about running for political office, or apply for a job, is there a foolish posting or two that will come back to haunt them, or you? Are your thoughts so profound or urgent that “tweeting” them is a good thing? What are you going to do when a prospective employer asks to see your Facebook page?
While you are busy messaging your game changing ideas so that your organization will get it right when it comes to risk management, here is a wakeup call for over-leveraged phrases you should avoid at the end of the day.
From http://www.thecommroom.com/2012/03/tcrs-list-of-ten-obligatory-phrases.html:
TCR’s List of Ten Overused Phrases
Master the use of these phrases and begin your career as a pundit —
I would argue
That said
Moving forward
Quite frankly
Game changer
At the end of the day
Crunch time
Wake up call
Red flags
Get it right
To put it another way — “Quite frankly, I would argue, this is a wake up call. The red flags were ignored. It’s crunch time. That said, moving forward, this will be a game changer and at the end of the day, we’ve got to get it right.”
From http://abcnews.go.com/blogs/business/2011/09/most-overused-lingo-at-the-office/:
By Susanna Kim, Sep 1, 2011 3:22pm
Most Overused Lingo at the Office
Biz-speak. Buzz words. Overused lingo. Call it what you will, we all have our lingua pet-peeves. Why do employees overuse words that, oftentimes, aren’t even real words?
Among some popular “officespeak” terms: net-net, ping, touch base, deliverable, incentivize, impactful, learnings, synergy, influencer. Or what about those TPS reports?
“Words get ingrained at work but it shows you are speaking the office vernacular,” Michelle Goodman, career and workplace columnist, said. “On the one hand, we’re trying to speak the language at work and fit in. But the downside is it bothers some people and creeps into your social life.”
Goodman said every industry has its own idioms, and the tech industry often has the most new phrases. Her least-favorite terms?
“Circle back and take this offline are two that drive me crazy. It’s just a wonky way to talk,” she said.
Another “weird” one, she said, tech companies use to describe using their own products: eat your own dog food.
“They also call it dog-fooding which is ridiculous. It’s software jargon,” she said. “That’s one I thought was so weird. It’s not really a great analogy either because dog foods to humans is a gross concept.”
Tell us what phrases you think should be taken offline.
Other words and phrases that can be overused:
Half or more of the business books now published deal with risk. Or, so it seems.
I just got back from Barnes & Noble. As a past author, I check out new hard cover books, which are a window into important business trends.
Maybe, it’s a situation of ‘where you sit is what you see.’ So, I sit in the risk space and all I see is risk. Risk in crossing the street. Risk in buying this or doing that.
But, the new hard cover business books point to a hard realization that risk is the new normal or new reset. And, it’s not going away.
Some implications: All if not most of the business rules are changing. Organizations and people are not ready for the changes. We need new: 1. Risk based, problem solving and 2. Risk based, decision making tools.
Hence, we are getting lots of business trade books explaining what to do to deal with risk.
Cyber Security is going ERM.
The US Department of Energy (DOE) released for public comment the Electricity Subsector CyberSecurity Risk Management Process. You can download it at:
(http://energy.gov/sites/prod/files/RMP%20Guideline%20Second%20Draft%20for%20Public%20Comment%20-%20March%202012.pdf
It may be a game changer in risk frameworks. Most risk frameworks are linear risk assessment processes.
The DOE standard is ERM process based, inputs => activities => outputs, hierarchal (tiered), and follows a novel cycle.
Let’s discuss a few of these:
The RM model is tiered: 1. Tier 1: Organization; 2. Tier 2: Mission and Business Processes; and Tier 3: IT and Industrial Control Systems.
The RM model has a cycle of: Frame => Assess => Respond => Monitor.
Each tier follows a process, much like the Project Management Institute Body of Knowledge (PMBOK)
Different RM model. ERM based. Interesting. Novel. Check it out.