[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:00.64,0:00:03.80,Default,,0000,0000,0000,,Companies are losing control.
Dialogue: 0,0:00:03.80,0:00:05.41,Default,,0000,0000,0000,,What happens on Wall Street
Dialogue: 0,0:00:05.41,0:00:07.74,Default,,0000,0000,0000,,no longer stays on Wall Street.
Dialogue: 0,0:00:07.74,0:00:11.62,Default,,0000,0000,0000,,What happens in Vegas ends up on YouTube. (Laughter)
Dialogue: 0,0:00:11.62,0:00:15.84,Default,,0000,0000,0000,,Reputations are volatile. Loyalties are fickle.
Dialogue: 0,0:00:15.84,0:00:18.42,Default,,0000,0000,0000,,Management teams seem increasingly
Dialogue: 0,0:00:18.42,0:00:21.44,Default,,0000,0000,0000,,disconnected from their staff. (Laughter)
Dialogue: 0,0:00:21.44,0:00:24.96,Default,,0000,0000,0000,,A recent survey said that 27 percent of bosses believe
Dialogue: 0,0:00:24.96,0:00:27.61,Default,,0000,0000,0000,,their employees are inspired by their firm.
Dialogue: 0,0:00:27.61,0:00:29.76,Default,,0000,0000,0000,,However, in the same survey, only four percent
Dialogue: 0,0:00:29.76,0:00:32.20,Default,,0000,0000,0000,,of employees agreed.
Dialogue: 0,0:00:32.20,0:00:34.25,Default,,0000,0000,0000,,Companies are losing control
Dialogue: 0,0:00:34.25,0:00:37.89,Default,,0000,0000,0000,,of their customers and their employees.
Dialogue: 0,0:00:37.89,0:00:40.14,Default,,0000,0000,0000,,But are they really?
Dialogue: 0,0:00:40.14,0:00:43.44,Default,,0000,0000,0000,,I'm a marketer, and as a marketer, I know
Dialogue: 0,0:00:43.44,0:00:46.46,Default,,0000,0000,0000,,that I've never really been in control.
Dialogue: 0,0:00:46.46,0:00:49.11,Default,,0000,0000,0000,,Your brand is what other people say about you
Dialogue: 0,0:00:49.11,0:00:52.30,Default,,0000,0000,0000,,when you're not in the room, the saying goes.
Dialogue: 0,0:00:52.30,0:00:56.43,Default,,0000,0000,0000,,Hyperconnectivity and transparency allow companies
Dialogue: 0,0:00:56.43,0:00:59.32,Default,,0000,0000,0000,,to be in that room now, 24/7.
Dialogue: 0,0:00:59.32,0:01:01.79,Default,,0000,0000,0000,,They can listen and join the conversation.
Dialogue: 0,0:01:01.79,0:01:04.99,Default,,0000,0000,0000,,In fact, they have more control over the loss of control
Dialogue: 0,0:01:04.99,0:01:07.38,Default,,0000,0000,0000,,than ever before.
Dialogue: 0,0:01:07.38,0:01:10.43,Default,,0000,0000,0000,,They can design for it. But how?
Dialogue: 0,0:01:10.43,0:01:13.100,Default,,0000,0000,0000,,First of all, they can give employees and customers more control.
Dialogue: 0,0:01:13.100,0:01:17.39,Default,,0000,0000,0000,,They can collaborate with them on the creation of ideas,
Dialogue: 0,0:01:17.39,0:01:20.77,Default,,0000,0000,0000,,knowledge, content, designs and product.
Dialogue: 0,0:01:20.77,0:01:23.22,Default,,0000,0000,0000,,They can give them more control over pricing,
Dialogue: 0,0:01:23.22,0:01:25.18,Default,,0000,0000,0000,,which is what the band Radiohead did
Dialogue: 0,0:01:25.18,0:01:28.25,Default,,0000,0000,0000,,with its pay-as-you-like online release of its album
Dialogue: 0,0:01:28.25,0:01:31.20,Default,,0000,0000,0000,,"In Rainbows." Buyers could determine the price,
Dialogue: 0,0:01:31.20,0:01:36.05,Default,,0000,0000,0000,,but the offer was exclusive, and only stood for a limited period of time.
Dialogue: 0,0:01:36.05,0:01:40.01,Default,,0000,0000,0000,,The album sold more copies than previous releases of the band.
Dialogue: 0,0:01:40.01,0:01:43.21,Default,,0000,0000,0000,,The Danish chocolate company Anthon Berg
Dialogue: 0,0:01:43.21,0:01:46.39,Default,,0000,0000,0000,,opened a so-called "generous store" in Copenhagen.
Dialogue: 0,0:01:46.39,0:01:48.81,Default,,0000,0000,0000,,It asked customers to purchase chocolate
Dialogue: 0,0:01:48.81,0:01:52.31,Default,,0000,0000,0000,,with the promise of good deeds towards loved ones.
Dialogue: 0,0:01:52.31,0:01:55.22,Default,,0000,0000,0000,,It turned transactions into interactions,
Dialogue: 0,0:01:55.22,0:01:57.77,Default,,0000,0000,0000,,and generosity into a currency.
Dialogue: 0,0:01:57.77,0:02:00.73,Default,,0000,0000,0000,,Companies can even give control to hackers.
Dialogue: 0,0:02:00.73,0:02:03.18,Default,,0000,0000,0000,,When Microsoft Kinect came out,
Dialogue: 0,0:02:03.18,0:02:07.34,Default,,0000,0000,0000,,the motion-controlled add-on to its Xbox gaming console,
Dialogue: 0,0:02:07.34,0:02:10.27,Default,,0000,0000,0000,,it immediately drew the attention of hackers.
Dialogue: 0,0:02:10.27,0:02:14.16,Default,,0000,0000,0000,,Microsoft first fought off the hacks, but then shifted course
Dialogue: 0,0:02:14.16,0:02:17.03,Default,,0000,0000,0000,,when it realized that actively supporting the community
Dialogue: 0,0:02:17.03,0:02:18.79,Default,,0000,0000,0000,,came with benefits.
Dialogue: 0,0:02:18.79,0:02:22.02,Default,,0000,0000,0000,,The sense of co-ownership, the free publicity,
Dialogue: 0,0:02:22.02,0:02:25.04,Default,,0000,0000,0000,,the added value, all helped drive sales.
Dialogue: 0,0:02:25.04,0:02:27.37,Default,,0000,0000,0000,,The ultimate empowerment of customers
Dialogue: 0,0:02:27.37,0:02:30.46,Default,,0000,0000,0000,,is to ask them not to buy.
Dialogue: 0,0:02:30.46,0:02:34.39,Default,,0000,0000,0000,,Outdoor clothier Patagonia encouraged prospective buyers
Dialogue: 0,0:02:34.39,0:02:37.36,Default,,0000,0000,0000,,to check out eBay for its used products
Dialogue: 0,0:02:37.36,0:02:40.92,Default,,0000,0000,0000,,and to resole their shoes before purchasing new ones.
Dialogue: 0,0:02:40.92,0:02:44.16,Default,,0000,0000,0000,,In an even more radical stance against consumerism,
Dialogue: 0,0:02:44.16,0:02:46.26,Default,,0000,0000,0000,,the company placed a "Don't Buy This Jacket"
Dialogue: 0,0:02:46.26,0:02:49.76,Default,,0000,0000,0000,,advertisement during the peak of shopping season.
Dialogue: 0,0:02:49.76,0:02:52.56,Default,,0000,0000,0000,,It may have jeopardized short-term sales,
Dialogue: 0,0:02:52.56,0:02:55.21,Default,,0000,0000,0000,,but it builds lasting, long-term loyalty
Dialogue: 0,0:02:55.21,0:02:57.38,Default,,0000,0000,0000,,based on shared values.
Dialogue: 0,0:02:57.38,0:03:00.60,Default,,0000,0000,0000,,Research has shown that giving employees more control
Dialogue: 0,0:03:00.60,0:03:04.37,Default,,0000,0000,0000,,over their work makes them happier and more productive.
Dialogue: 0,0:03:04.37,0:03:07.34,Default,,0000,0000,0000,,The Brazilian company Semco Group famously
Dialogue: 0,0:03:07.34,0:03:10.01,Default,,0000,0000,0000,,lets employees set their own work schedules
Dialogue: 0,0:03:10.01,0:03:12.02,Default,,0000,0000,0000,,and even their salaries.
Dialogue: 0,0:03:12.02,0:03:14.29,Default,,0000,0000,0000,,Hulu and Netflix, among other companies,
Dialogue: 0,0:03:14.29,0:03:16.74,Default,,0000,0000,0000,,have open vacation policies.
Dialogue: 0,0:03:16.74,0:03:19.66,Default,,0000,0000,0000,,Companies can give people more control,
Dialogue: 0,0:03:19.66,0:03:23.94,Default,,0000,0000,0000,,but they can also give them less control.
Dialogue: 0,0:03:23.94,0:03:26.68,Default,,0000,0000,0000,,Traditional business wisdom holds that trust
Dialogue: 0,0:03:26.68,0:03:29.39,Default,,0000,0000,0000,,is earned by predictable behavior,
Dialogue: 0,0:03:29.39,0:03:32.04,Default,,0000,0000,0000,,but when everything is consistent and standardized,
Dialogue: 0,0:03:32.04,0:03:34.96,Default,,0000,0000,0000,,how do you create meaningful experiences?
Dialogue: 0,0:03:34.96,0:03:38.43,Default,,0000,0000,0000,,Giving people less control might be a wonderful way
Dialogue: 0,0:03:38.43,0:03:40.69,Default,,0000,0000,0000,,to counter the abundance of choice
Dialogue: 0,0:03:40.69,0:03:42.37,Default,,0000,0000,0000,,and make them happier.
Dialogue: 0,0:03:42.37,0:03:45.18,Default,,0000,0000,0000,,Take the travel service Nextpedition.
Dialogue: 0,0:03:45.18,0:03:48.39,Default,,0000,0000,0000,,Nextpedition turns the trip into a game,
Dialogue: 0,0:03:48.39,0:03:51.96,Default,,0000,0000,0000,,with surprising twists and turns along the way.
Dialogue: 0,0:03:51.96,0:03:53.78,Default,,0000,0000,0000,,It does not tell the traveler where she's going
Dialogue: 0,0:03:53.78,0:03:56.85,Default,,0000,0000,0000,,until the very last minute, and information is provided
Dialogue: 0,0:03:56.85,0:04:00.84,Default,,0000,0000,0000,,just in time. Similarly, Dutch airline KLM
Dialogue: 0,0:04:00.84,0:04:04.02,Default,,0000,0000,0000,,launched a surprise campaign, seemingly randomly
Dialogue: 0,0:04:04.02,0:04:06.81,Default,,0000,0000,0000,,handing out small gifts to travelers
Dialogue: 0,0:04:06.81,0:04:08.98,Default,,0000,0000,0000,,en route to their destination.
Dialogue: 0,0:04:08.98,0:04:11.81,Default,,0000,0000,0000,,U.K.-based Interflora monitored Twitter
Dialogue: 0,0:04:11.81,0:04:14.32,Default,,0000,0000,0000,,for users who were having a bad day,
Dialogue: 0,0:04:14.32,0:04:18.41,Default,,0000,0000,0000,,and then sent them a free bouquet of flowers.
Dialogue: 0,0:04:18.41,0:04:20.42,Default,,0000,0000,0000,,Is there anything companies can do to make
Dialogue: 0,0:04:20.42,0:04:23.53,Default,,0000,0000,0000,,their employees feel less pressed for time? Yes.
Dialogue: 0,0:04:23.53,0:04:26.45,Default,,0000,0000,0000,,Force them to help others.
Dialogue: 0,0:04:26.45,0:04:29.79,Default,,0000,0000,0000,,A recent study suggests that having employees complete
Dialogue: 0,0:04:29.79,0:04:32.60,Default,,0000,0000,0000,,occasional altruistic tasks throughout the day
Dialogue: 0,0:04:32.60,0:04:36.67,Default,,0000,0000,0000,,increases their sense of overall productivity.
Dialogue: 0,0:04:36.67,0:04:40.34,Default,,0000,0000,0000,,At Frog, the company I work for, we hold internal
Dialogue: 0,0:04:40.34,0:04:44.94,Default,,0000,0000,0000,,speed meet sessions that connect old and new employees,
Dialogue: 0,0:04:44.94,0:04:47.90,Default,,0000,0000,0000,,helping them get to know each other fast.
Dialogue: 0,0:04:47.90,0:04:51.22,Default,,0000,0000,0000,,By applying a strict process, we give them less control,
Dialogue: 0,0:04:51.22,0:04:55.95,Default,,0000,0000,0000,,less choice, but we enable more and richer social interactions.
Dialogue: 0,0:04:55.95,0:04:58.81,Default,,0000,0000,0000,,Companies are the makers of their fortunes,
Dialogue: 0,0:04:58.81,0:05:03.07,Default,,0000,0000,0000,,and like all of us, they are utterly exposed to serendipity.
Dialogue: 0,0:05:03.07,0:05:06.68,Default,,0000,0000,0000,,That should make them more humble, more vulnerable
Dialogue: 0,0:05:06.68,0:05:09.50,Default,,0000,0000,0000,,and more human.
Dialogue: 0,0:05:09.50,0:05:12.34,Default,,0000,0000,0000,,At the end of the day, as hyperconnectivity
Dialogue: 0,0:05:12.34,0:05:14.65,Default,,0000,0000,0000,,and transparency expose companies' behavior
Dialogue: 0,0:05:14.65,0:05:18.29,Default,,0000,0000,0000,,in broad daylight, staying true to their true selves
Dialogue: 0,0:05:18.29,0:05:21.84,Default,,0000,0000,0000,,is the only sustainable value proposition.
Dialogue: 0,0:05:21.84,0:05:24.48,Default,,0000,0000,0000,,Or as the ballet dancer Alonzo King said,
Dialogue: 0,0:05:24.48,0:05:27.49,Default,,0000,0000,0000,,"What's interesting about you is you."
Dialogue: 0,0:05:27.49,0:05:30.55,Default,,0000,0000,0000,,For the true selves of companies to come through,
Dialogue: 0,0:05:30.55,0:05:33.18,Default,,0000,0000,0000,,openness is paramount,
Dialogue: 0,0:05:33.18,0:05:36.17,Default,,0000,0000,0000,,but radical openness is not a solution,
Dialogue: 0,0:05:36.17,0:05:39.58,Default,,0000,0000,0000,,because when everything is open, nothing is open.
Dialogue: 0,0:05:39.58,0:05:44.50,Default,,0000,0000,0000,,"A smile is a door that is half open and half closed,"
Dialogue: 0,0:05:44.50,0:05:46.55,Default,,0000,0000,0000,,the author Jennifer Egan wrote.
Dialogue: 0,0:05:46.55,0:05:49.13,Default,,0000,0000,0000,,Companies can give their employees and customers
Dialogue: 0,0:05:49.13,0:05:52.62,Default,,0000,0000,0000,,more control or less. They can worry about how much
Dialogue: 0,0:05:52.62,0:05:56.28,Default,,0000,0000,0000,,openness is good for them, and what needs to stay closed.
Dialogue: 0,0:05:56.28,0:06:00.52,Default,,0000,0000,0000,,Or they can simply smile, and remain open
Dialogue: 0,0:06:00.52,0:06:02.14,Default,,0000,0000,0000,,to all possibilities.
Dialogue: 0,0:06:02.14,0:06:06.25,Default,,0000,0000,0000,,Thank you. (Applause)
Dialogue: 0,0:06:06.25,0:06:09.20,Default,,0000,0000,0000,,(Applause)