- Research Feature
- Read Time: 21 min
Many companies have filled their corner offices with mediocre executives. A set of basic practices can help organizations avoid such a crucial mistake.
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In times of adversity, many organizations miss the opportunity to rethink their business model to optimize their positioning for the recovery ahead. Recessionary economies may not require re-engineering or moving noncore competencies outside the organization for greater efficiency. Oxman suggests four critical ways to prepare for economic recovery.
How one company implemented a “telework” program that transformed paper-based processes and reliance on voice communications into automated procedures supported by full-scale connectivity.
The corporation has emerged as perhaps the most powerful social and economic institution of modern society. Yet, corporations and their managers suffer from a profound social ambivalence. Believing this to be symptomatic of the unrealistically pessimistic assumptions that underlie current management doctrine, Ghoshal et al. encourage managers to replace the narrow economic assumptions of the past.
Why do companies frequently make bad investment decisions and continue to blunder, even after the weaknesses in their capital budgeting analyses are evident? Because, say the authors, they don’t integrate capital budgeting into their overall strategy. To address this, the authors present a framework for dynamic capital budgeting that can help managers make intelligent investment decisions with a long-term strategy in mind.
When companies downsize, managers need to consider how to bolster their employees' morale in order to maintain productivity and engender flexibility. The authors propose a four-stage approach -- gleaned from interviews and surveys -- that will mitigate worker mistrust and disempowerment and will, they say, help build a better company.
Making an explicit link between people’s personal needs and business goals can be a catalyst for changing work practices. In the end, both the company and the employees benefit.
Why are some companies able to remain vital, even after extensive reengineering, while others flounder and fail? The answer, according to these authors, lies in a company's ability to rejuvenate its employees by establishing a behavioral context with four characteristics -- discipline, support, trust and stretch. The authors show how companies like Intel and 3M have been able to renew themselves by creating an environment in which people are the most important resource.
What can the plant manager at a Japanese soy sauce producer teach us about reengineering? In this case study, the authors describe Toshio Okuno's five techniques for managing major changes in his company. By focusing first on changing people's attitudes toward change and encouraging them to be creative, Okuno brought about significant improvements in processes and results. And the managers and workers, rather than reengineering consultants, began to propose ideas for change. Okuno's techniques work as an integrated system that allow his company to innovate continuously and present many lessons for making change fun.
THE PRODUCTION-LINE APPROACH TO SERVICE IS BEING CHALLENGED BY AN EMPLOYEE EMPOWERMENT APPROACH. DESPITE ITS GROWING POPULARITY, many managers are still uncertain about empowerment’s impact. The authors describe the returns a company can expect from empowering service employees, which include a number of favorable business results, but new management challenges as well.
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