This week in 1969, “Sesame Street,” a pioneering TV show that would teach generations of young children the alphabet and how to count, made its broadcast debut. For as complicated as the Sesame Street characters’ relationships seemed, they knew how to convey their main points with little confusion. The Sesame Street gang rarely suffered from miscommunication, but they managed to speak clearly and remedy the situation if an error did arise. They taught the audience that there’s nothing wrong with simplicity. An important lesson we can learn from Sesame Street and Don Draper: "Make it simple, but significant." Below are the most significant stories of week: Career bankers alone can't solve the financial industry's problems. "As individuals and as a society, we cannot afford to the perils of depth as we have been, especially in our financial institutions. The populist climate in our politics, combined with the lack of public trust in financial institutions, will only grow unless banks adopt a different approach. A good place to start is by investing in broad experiences and rebalancing the ranks on Wall Street with far-reaching and wide-ranging professional attainment that can help us value preeminence over depth." Good research on mobile payments: "There is plenty of opportunity, with 30% of consumers not yet embracing online banking (saying they have used in the past 30 days). Of the 70% who use online banking, half have yet to embrace mobile banking. And of those, a significant number have only used it once or twice in the past 30 days (26%). The art of customer delight: "The mind-set and principles of service design are a critical way to improve how services are managed. The result of our industrial legacy in management thinking is that services, the biggest employer and creator of wealth, are too much managed by guess and by gosh. Company after company is underwhelming its customers and leaving money on the table. It's time to stop that and take action."
Why the problem with learning is unlearning: "In every aspect of business, we are operating with mental models that grown outdated or obsolete, from strategy to marketing to organization to leadership. To embrace the new logic of value creation, we have to unlearn the old one.
Unlearning is not about forgetting. It's about the ability to choose an alternative mental model or paradigm. When we learn, we add new skills or knowledge to what we already know. When we unlearn, we step outside the mental model in order to choose a different one."