Heathrow Closure - reporting on something going wrong

Today all forms of media reported chaos, anger and confusion as something went wrong with the electrical power supply to Heathrow Airport in the UK.

Hat tip for photo to Bao Menglong on Unsplash

One media expect commented that "In reporting on this I had to get my thesaurus out to explain the consternation, surprise, shock, distress and embarrassment this unprecedented disruption has caused with its huge and awkward impacts"

Politicians were quick to comment "Obviously its too early to comment as we don't have the full facts nor a considered root cause analysis of why this happened.  But I can say, with absolute certainty, that there will be questions that need to be answered.  And I intend to stand tall and ask those questions in a manner that in no way maximises my public recognition scores"

Expert pundits were able to add some light and insight to the closure.  As one said "As an expert in this area I have, in no way, previously pointed out Heathrow Airport's vulnerability to this sort of failure.  However I can say that there should have been contingency plans for such a possibility.  And of course I am able to assume in making such statements that the closure of the airport was in no way part of a contingency plan for such an event"

A newspaper owner has publicly stated "Thank goodness for these types of unexpected events, it really helps us in getting people to read my legacy media".  

Digital media influencers were also quick to use AI to write a short click bait headline article on the Heathrow closure, which conveniently linked to whatever product they are promoting without complying with advertising rules or declaring their income to the tax authorities.

Some of  the inhabitants of X have tweeted about how the closure was linked to some form of wokeness they dislike.  Whilst others have pointed out that the co-incidence of the airport and M25 closures were obviously a cover up for UFO landing at Heathrow.  

Too put all of this into perspective a business insider said "Once again this failure demonstrates how private equity investors in monopolistic enterprises can really help a business focus on maximising returns for investors, rather than wasting money on building resilience into operations"

Big business & the super-rich spend money on MPs because they want something in return

“The super-rich do not spend their money on MPs out of generosity and out of the goodness of their hearts. They want something in return."

Zarah Sultana 🔥🔥🔥 pic.twitter.com/R12bpddSGR

— The London Economic (@LondonEconomic) September 17, 2024

15min clip - Mark Cuban Answers Business Questions From Twitter

Assessing Aspects of a Business Against a Maturity Model: Pros and Cons

Introduction Maturity models have become valuable tools for organizations seeking to assess and improve various aspects of their business operations. These models provide a structured framework for evaluating the maturity and effectiveness of processes, practices, and capabilities within an organization. While the use of maturity models offers several advantages, they also come with their own set of limitations. In this article, we will explore the pros and cons of assessing aspects of a business against a maturity model.

Photo by Estée Janssens on Unsplash

Pros:

Structured Assessment: Maturity models provide a structured and systematic approach to evaluating different aspects of a business. This structured assessment helps organizations identify strengths and weaknesses within their operations, allowing for targeted improvements.

Benchmarking: Maturity models often come with benchmarks and best practices, enabling organizations to compare their maturity levels with industry standards or competitors. This benchmarking helps in setting realistic goals for improvement.

Visibility and Awareness: Assessing against a maturity model increases awareness of existing processes and their effectiveness. It highlights areas that require attention and promotes a shared understanding of the organization's strengths and weaknesses among team members.

Continuous Improvement: Maturity models emphasize progression through maturity levels, encouraging a culture of continuous improvement. This can lead to enhanced efficiency, better quality, and increased customer satisfaction over time.

Risk Mitigation: By identifying areas of weakness, maturity models help organizations proactively address potential risks and vulnerabilities, reducing the chances of costly errors and setbacks.

Customization: Maturity models can often be tailored to an organization's specific needs and goals, allowing for a more focused assessment of the areas that matter most to the business.

Cons:

Subjectivity: Maturity models are not always objective and can be influenced by the biases of those conducting the assessment. Different individuals may interpret the same data differently, leading to potential discrepancies in the results.

Resource-Intensive: Implementing a maturity assessment can be resource-intensive, requiring time, money, and personnel for data collection, analysis, and improvement efforts. Smaller organizations may find it challenging to allocate these resources.

Static Nature: Maturity models can be somewhat static, offering a snapshot of the organization's maturity at a given point in time. Business environments are dynamic, and what's relevant today may not be tomorrow, making it crucial to complement maturity assessments with ongoing monitoring.

Overemphasis on Compliance: Some maturity models may overemphasize compliance and standards, potentially stifling innovation and adaptability, as organizations focus solely on meeting predefined criteria rather than exploring new solutions.

Lack of One-Size-Fits-All: Not all maturity models are suitable for every organization. Finding or developing the right model that aligns with an organization's specific needs and goals can be a challenge.

Resistance to Change: Employees may resist changes brought about by maturity assessments, viewing them as additional work or unnecessary disruptions. This resistance can impede progress.

In conclusion, maturity models can be powerful tools for assessing and improving various aspects of a business. They offer structure, benchmarking, and the opportunity for continuous improvement. However, their subjectivity, resource requirements, and potential for stifling innovation are important considerations. To maximize the benefits of using maturity models, organizations should carefully select appropriate models, ensure objectivity in assessments, and foster a culture that embraces change and improvement.

Source: I asked Chat GPT3.5 to "write a short article about what the pros and cons are of assessing aspects of a business against a maturity model" and the text and post title above is what it produced.  I made some minor formatting changes and added the picture

Figure 3: The percentage of UK businesses reporting climate change-related strategic actions generally increases with business size 

Percentage of businesses not permanently stopped trading who reported taking strategic actions to protect the environment by size (number of employees), UK, 20 September to 2 October 2022 Source: Office for National Statistics – Business Insights and Conditions Survey

Figure 2: Businesses most likely to say “none of the above” when asked about the actions they have taken to help protect the environment 

 Percentage of businesses not permanently stopped trading who reported taking strategic actions to protect the environment by industry, UK, 20 September to 2 October 2022 Source: Office for National Statistics – Business Insights and Conditions Survey

#infographic - uk Transport and storage businesses are most likely to cite a lack of EU applicants when unable to fill vacancies

Infographic - 3 in 10 #UK hospitality businesses are finding vacancies difficult to fill - source @ONS

 

9min 49sec #shaggylocks clip -What Is Business? (1948)

Graphic - finding solutions to unusual problems

Source: https://blogs.lse.ac.uk/businessreview/2020/06/09/who-do-you-tap-for-help-when-trying-to-solve-an-unusual-business-problem/

a @ONS graph - How do #businesses feel about #homeworking as a permanent option?

 Source = this @ONS blog post

4min 28sec clip - Identifying and Boosting #Gazelles: Evidence from Business Accelerators

 

 text from youtube "Video Summary of journal article Identifying and Boostign Gazelles: Evidence from Business Accelerators by Juanita Gonzalez-Uribe and Santiago Reyes. 2020. Available here: https://doi.org/10.1016/j.jfineco.202..."

6min 24sec @thinkwithgoogle clip What #businesses can learn from Gordon #Ramsay (outside of the kitchen)

text from youtube "In this episode of The Update, Google’s Head of Creator Marketing for EMEA Shar Caesar Douglas talks to Gordon Ramsay, Michelin-starred chef and television personality, about how to develop a business strategy centered around video. They discuss Gordon’s journey on YouTube and what brands and businesses can learn from his success."

6min 24sec @theeconomist clip - How #kidnapping became a big #business

text from youtube "Kidnapping has created a growing insurance industry, which regulates ransom demands and saves lives. But it's a complicated business model in which poorer victims are losing out. "

6min 43sec @RSAEvents clip - Being Fair in #Business a Choice? - Justin King

Text from youtube "Can business be judged as innately fair or unfair? Fairness so often involves balance and compromise between multiple stakeholders, and there are rarely simple solutions. Should we understand fairness as a choice businesses and leaders make - a choice that depends on how they see their role in society?"

7min @RSAEvents clips - Is Being Fair in #Business a Choice? | Justin King

Text from youtube "Can business be judged as innately fair or unfair? Fairness so often involves balance and compromise between multiple stakeholders, and there are rarely simple solutions. Should we understand fairness as a choice businesses and leaders make - a choice that depends on how they see their role in society?

Watch Justin King, vice chairman of Terra Firma, in our latest RSA Spotlight "

12min @thecrashcourse clip - How to Make Tough #Decisions: Crash Course Business - Soft Skills #11

text from youtube "We make small choices like what to eat for lunch, but we also have to set goals, pick a career, and decide how to invest our hard-earned money. It’s not easy! We don’t want to make a decision out of fear, rather than doing what’s best for us. And we don’t want to regret a big choice and dwell on the “what ifs” either.

So today, we’re going to take a step back, understand how to really look at the decisions we’re making, and learn what not to do when facing a difficult choice. "

11min 32sec clip - How to Negotiate: Crash Course Business - Soft Skills #8

Text from youtube "You've prepped and now it's time to actually negotiate. In this episode of Crash Course Business, Evelyn talks to us about how to make sure we take care of ourselves and get what we're looking for out of a negotiation. "

4min 13sec #DUST #sci-fi short clip - Good Business

Humanity makes a deal with a new client, "Good Business" by Ray Sullivan.

2min 50sec clip - Making Your Business #Fairtrade

Text from youtube "Fairtrade delivers for your business where it counts for you; your supply chains. From sourcing on Fairtrade terms to large-scale interventions and innovative partnerships, together we can tackle the biggest challenges facing the people who produce your products. The expertise we offer is built on 25 years at the head of a movement for change that partners with businesses, consumers and campaigners to make trade work for farmers and workers."