Corporate Culture

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Balancing Tradeoffs in Social Media

Successful enterprise social media use has less to do with the tools employed than with the climate that a company creates. Cultivating the right climate requires balancing a number of tradeoffs through crafted social media policies, adapting characteristics of existing organizational culture, and having managers model effective social media practices for employees. In part 5 of his 5-part series, Gerald C. Kane offers a perspective on how to balance these tradeoffs and create the right mix for a company and its culture.

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Strategy, not Technology, Drives Digital Transformation

Digital success isn’t all about technology: The 2015 Digital Business Global Executive Study and Research Project by MIT Sloan Management Review and Deloitte identifies strategy as the key driver in the digital arena. Companies that avoid risk-taking are unlikely to thrive and likely to lose talent, as employees across all age groups want to work for businesses committed to digital progress. The report is online and in PDF form, with a Digital Business Interactive Tool to explore the data set.

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Why Corporate Social Responsibility Isn’t a Piece of Cake

Corporate Social Responsibility “is fraught with contradictions, subject to political challenges and demands deep commitment,” argue José Carlos Marques and Henry Mintzberg. Responsible corporate behavior, they write, isn’t simply “doing well by doing good.” Instead, six changes need to be considered, within and beyond our private institutions. These changes include fostering ethical judgment within the enterprise, rethinking compensation and acknowledging the benefits of regulation.

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Joining Forces: Collaboration and Leadership for Sustainability

In the 2014 Sustainability Report, new research by MIT Sloan Management Review, The Boston Consulting Group and the UN Global Compact, shows that a growing number of companies are turning to collaborations — with suppliers, NGOs, industry alliances, governments, even competitors — to become more sustainable. Our research found that as sustainability issues become increasingly complex, global in nature and pivotal to success, companies are realizing that they can’t make the necessary impact acting alone.

Image courtesy of Flickr user Rik Panganiban. https://www.flickr.com/photos/rikomatic/7508427970
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Would You Wear Red Sneakers to Work? Should You?

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Being a little quirky in clothing choices leads to positive inferences of status, confidence and competence — when observers think the choices are made with deliberateness. From a psychological standpoint, intentional deviance can signal that one has the autonomy to act according to one’s own inclinations, write the authors, who are all affiliated with Harvard Business School. On the other hand, nonconformists do risk not having a comfort zone and “the benefits of following the crowd.”

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Innovation Lessons From China

China is becoming the best place to learn how to make ideas commercially viable, even as many multinational companies are growing increasingly wary of doing business there because of concerns about unfair competition and theft of intellectual property. Chinese companies excel at cost reduction, accelerated product development and networked production — and know how to assess what they can do and quickly find partners to fill the gaps.

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What to Expect From a Corporate Lean Program

“Lean” programs help many manufacturers boost productivity. But misplaced expectations of how quickly these programs can improve performance can make their implementation difficult. Better understanding of the rates at which lean programs produce improvements would make implementation go more smoothly — and lead to more increases in productivity. Managers should set targets that are appropriate to specific plants and be careful not to derail progress by using initial gains to lay off workers.

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The Digital C-Suite

A new study finds that executives at large companies are unhappy with their digital strategies and ability to make decisions on technology. The problem? Lack of cohesion and coordination among departments. Having all C-level executives engage with technology and digital business strategy might be the answer.

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A New, Analytics-Based Era of Banking Dawns at State Street

Change does not come easy to established institutions, particularly when they count their longevity in centuries rather than decades. Yet in the wake of the global financial crisis, State Street Bank has elected to revamp 200+ years (and counting) of banking practices in favor of a data-driven, analytics-based business model. In doing so, it created a new business, SSGX — and initiated significant cultural changes.

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Preparing Analytics for a Strategic Role

The way health care is billed in the U.S. system is part of the reason costs are so high. WellPoint*, one of the largest providers of health care benefits and insurance in the U.S., is using analytics to change its provider payment system. The goal: promote a health care system based on value, not the volume of services. This Data & Analytics Case Study takes an in-depth look at how WellPoint went from idea to implementation, working with physicians and IT staff to build its Enhanced Personal Health Care program.

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The Pitfalls of Project Status Reporting

Accepting five inconvenient truths about project status reporting can greatly reduce the chance of being blindsided by unpleasant surprises. For instance, many employees tend to put a positive spin on anything they report to senior management. And when employees do report bad news, senior executives often ignore it. Overconfidence is an occupational hazard in the executive suite, and executives need to examine their own assumptions and beliefs about project status reporting.

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Social Business: Flat or Hierarchical? A Surprising Answer

The most effective social businesses of the future may start to look more like organizations that long predate modern corporations — so-called “loosely coupled” organizations such as military, education and religious institutions. These organizations remain deeply hierarchical, argues Gerald C. Kane, but these hierarchies operate differently than modern corporations, pushing decision-making capabilities down to people who can better deal with conditions on the ground.

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Five Steps To Leading Change Successfully

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Before making a change, you need to identify the influencers who can push the project forward — or who can cause it to stall. “Left unattended, skepticism, fear and panic can wreak havoc on any change process,” write Ellen R. Auster and Trish Ruebottom.

Their solution is a five-step, proactive process designed to help leaders navigate both the politics and the emotions that are churned up by heading in new directions. The steps include mapping the key stakeholders who will be affected by the change and involving the most influential of them.

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How Innovative Is Your Company’s Culture?

Everyone wants an innovative corporate culture, but how do you develop one? This article posits that the ability of a culture to support innovation depends on six key building blocks: values, behaviors, climate, resources, processes and success. The article also includes a 54-element test developed to enable managers to assess a company’s “Innovation Quotient.” A case study in the article outlines the experience of a Latin American company with the assessment tool.

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Reinventing Employee Onboarding

Wipro BPO, a business process outsourcing firm in Bangalore, India, was experiencing high turnover rates. In Wipro’s traditional onboarding program, new employees learned about the company. But when the onboarding focused, instead, on individual identity, employees were more than 32% less likely to quit their jobs during the first six months. The bottom line: By making small investments in socialization practices, companies can improve employee retention.

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The Inside and Outside View of Innovation

How can companies ensure that a promising initiative receives the necessary resources? And why do so many brilliant inventions fail while other seemingly mediocre offerings succeed? Such questions are addressed in two recent books — Unrelenting Innovation: How to Build a Culture for Market Dominance by Gerard J. Tellis and The Wide Lens: A New Strategy for Innovation by Ron Adner. The first book concentrates on a company’s internal workings, while the latter focuses on its external environment.

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What Managers Really Think About Social Business

Given that technology-based social networking has been transforming social norms for the past decade, will social networking and social software have a similarly transformative effect on business? Are they already doing so? How are enterprises benefiting? MIT Sloan Management Review and Deloitte asked thousands of managers about how their companies are using social media tools — and how important those tools are becoming to their organizations. Here’s what they said.

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How to Become a Sustainable Company

Trends suggest that the public is no longer satisfied with corporations that focus solely on short-term profits. A recent study comparing companies that adopted environmental and social policies with companies that didn’t supports this view. However, few companies are born with a commitment to sustainability. To develop one, companies need leadership commitment, an ability to engage with multiple stakeholders along the value chain, employee engagement and disciplined mechanisms for execution.

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