OracleApps Epicenter

The new Financial Accounting Standards Board (FASB) and international financial reporting standards (IFRS) lease accounting standards (ASC 842 and IFRS 16) will take effect in 2020 for private companies. The standards bring many leases onto the balance sheet and could significantly impact a business’ financial statements.

Here is great post on Audit Procedures for Leases under ASC 842. You can get more details at here

The greatest leaders are those who build an organization or team, or department that continues to thrive after they’re gone.

Collins’ framework provides insight into progression of leaders.

1. Level one’s a capable individual who contributes talent, knowledge, skills, and good work habits.
2. Level two’s a contributing team member who works well with others to produce results.
3. Level three’s a competent manager who can organize employees and resources to attain results.
4. And level four’s an effective leader who inspires commitment to a vision, and rallies support to achieve high levels of performance.
5. Level five is the leader who possesses the combination of humility and a ferocious will for the organization to be remarkable.

Their focus is on leaving the organization stronger and ensuring that it can sustain success.

Arthur’s corporate culture transformation methods have created sustainable organizational culture change in organizations across the world. In his Tedtalk “how to Create Sustainable Organizational Culture Change in 80 Days” explain the types of Organizational Change and different level of organizational culture evolution . You can watch out his presentataion in Youtube.

Key Highlightes

1) Here are four types of organizational changes that make an organization stronger:

4 Types of Organizational Change

• Technological – applications of technology to enhance operations or improve efficiency.
• Structural – change in organizational structure lateral expansion, consolidation of resources, downsizing, product group consolidation…
• Philosophical (Transformation) – the entire mission and direction of an organization changes to reinvent itself to be current and sustainable. This helps an organization go from their current level to their next level of growth by developing a new capacity to meet the needs of those it serves.
• Psychological (Transition) – changing organizational culture, leadership styles, management processes, HR policies… for the purpose of improving efficiency, innovation and engagement.

2) He also highlight The 5 levels of organizational culture evolution are as follows

• The Blame Culture – Here, people have little trust and need to be given proper direction. There’s almost no innovation or member cooperation.
• The Multi-Directional Culture – Members start forming cliques within their respective departments. However, cooperation and trust levels remain low between the management and other departments of the organization.
• The Live and Let Live Culture – While objectives get fulfilled, people remain complacent. Creativity and passion remain at all-time lows.
• The Brand Congruent Culture – Members start believing in their services or products and begin supporting others to fuel expansion. Passion and innovation take the lead, thanks to better culture, management, and processes.
• The Leadership Enriched Culture – An effective leadership ability is instilled in everybody with people transforming into dedicated believers for both the organization and the brand. Creative levels start rising, fueling further excitement. A feeling of ownership is present in all members at this stage.

3) At the last part of his presentation , he also share how to Build the 5 pillars of Sustainable Organizational Culture Change

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The Solution to a Tough Problem Isn’t to Overthink It

We all like to consider ourselves smart, but Raw intelligence is undoubtedly a huge asset, but it isn’t everything.

“When we get stuck on a problem, sometimes it’s because we’re overthinking it. Pay attention to when focused thinking isn’t getting you anywhere; perhaps it has turned into obsessing over the same answers or approaches.”

Consider whether experimenting with a new strategy or talking ideas through with others might be more likely to result in success. Take breaks to let your brain relax and get unstuck. Expand your range of skills for reaching insights and coming up with new ideas; don’t be someone who sees every problem as a nail because your only tool is a hammer. And when you do find yourself ruminating, disrupt it by doing a few minutes of an absorbing activity, such as a puzzle. This can be a surprisingly effective way to break your brain out of a rut.

Adapted from “5 Ways Smart People Sabotage Their Success,” by Alice Boyes.

This is a really interesting read and one of the reminders is the importance of emotional intelligence. In his Article highlightes 5 Ways Smart People Sabotage Their Success as below:

1. Smart people sometimes devalue other skills, like relationship building, and over-concentrate on intellect.
2. Teamwork can be frustrating for very smart people.
3. Smart people often attach a lot of their self-esteem to being smart, which can decrease their resilience and lead to avoidance.
4. Smart people get bored easily.
5. Smart people sometimes see in-depth thinking and reflection as the solution to every problem.

Click on Link for Solutions to overcome these problems.You can read /refer to HBR for more management insights…

Nurturing a healthy level of ambition in the workplace can be a tricky thing, organisational consultant Ron Carucci writes. Very driven workers may inadvertently appear too greedy for success or unrealistic about their goals. On the flip side, those that don’t showcase their ambition adequately risk looking cautious or unwilling to improve.

Carucci offers the following framework for achieving success in a healthy, balanced manner.

• What goals can I realistically attain through my own efforts? (Performance ambition)
• What skill or knowledge will I need to improve or acquire? (Growth ambition)
• What rewards do those I lead hope to gain as a result of our efforts? (Achievement ambition)

All questions above are for DIFFERENT areas of ambition; more, improving how leaders operate in business.

As you think about how to manage your career, came across a great article by Ron Carducci in HBR.

Highlights and hits on key points and attributes on ambition, self awareness, and asking and answering the important question every employee and leader may be asked….”How ambitious should you be?”

In layman word Zachman Framework is matrix for managing enterprise architecture.

The Zachman Framework uses a 36-column matrix to help organize your company’s enterprise architecture and lend insight into your organization’s IT assets.

One axis, normally spread about the horizontal of the matrix, consists of the following fundamental elements of human analysis in template include all of the questions that you’ll ask during the process:

• What — Inventory
• How — Process
• Where — Distribution (Location)
• Who — Responsibility (Roles)
• When — Timing (Order of behavior)
• Why — Motivation

The six rows of the Zachman Framework matrix include:

• Executive — (Business) Context, or Identification
• Management — (Business) Definition
• Architect — System Logic, or Representation
• Engineer — Technology Physics, or Specification
• Technician — Configuration

You can read more at CIO site

https://www.cio.com/article/3535909/what-is-the-zachman-framework-a-matrix-for-managing-enterprise-architecture.html

Technology Business Management Tools; A TBM Book and Index for the CIO by Tom Murphy at ITFM

Here is question from a reader

Does integrate design thinking help into day to day operations of IT and Service Management ? Is there any frameworks or matured models of Design thinking embedded into development cycle?

Design thinking at its very core is about understanding your customer’s needs better than they can ever articulate it themselves. This results in discovering latent customer needs or sometime deep insights that can be used to reframe the problem of opportunity.

You can focus our Design Thinking efforts a couple of ways. here are few few thoughts:

1. Use Design Thinking activities to get clarity around business need and drive innovative solutions. This often relates to Epics and helps prepare Features so that teams (especially developers and designers) can refine business priorities into their backlogs
2. You can do Design Thinking work in the context of our Program Increments by fleshing out Feature level needs and having our UX designers engage on PI priorities
3. We will run Design Sprints for new business solutions to support our (occasional) hypothesis driven development  

You should also take an extra look at the people who ‘may not be ready,’ and analyze them on the basis of their ambition, reputation, and passion for your business.” An interesting read on what makes for inspring leader

Hire Leaders for What They Can Do, Not What They Have Done

Oracle E-Business Suite 12.2.9 is available now!

Release 12.2.9 is a suite-wide patch that offers new features and enhancements, and provides regular updates. These improvements are geared towards further increasing efficiency, supporting modern business workflows, and providing a more intuitive user interface.

Release 12.2.x customers can apply 12.2.9 directly to their environments. EBS 12.2.9 is an online patch, so it can be applied while an existing Release 12.2.x system is running.

Release 12.2.9 also follows suit with Oracle’s Continuous Innovation release model for E-Business Suite 12.2 and will continue to receive Premier Oracle Support through 2030.

Read more details