Leading a successful digital transformation isn’t about technological skills — it’s about being willing to experiment and take risks.
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In the short term, ignoring or stifling employees’ negative emotions is easier for managers than addressing the problem. But since brushing aside negative emotions can lead to high costs from reduced employee productivity, engagement, and effectiveness, executives should learn what to look for and how to respond.
Rather than trying to predict the future, organizations need to strengthen their abilities to cope with uncertainty. A new approach to scenario planning can help companies reframe their long-term strategies by developing several plausible scenarios.
Any approach to leadership development that tries to reduce the complexities of leadership to a series of standard boxes to be ticked or traits to be emulated will have little enduring impact.
New research suggests that a particular set of management practices, which the authors call structured management, is tightly linked to performance and success. For instance, consistent hiring, performance review, and incentive practices are as important to productivity as research and development investments, and more than twice as important as IT implementation. The research shows that manufacturing plants using more structured management practices have higher productivity and profitability.
As busy as they are, leaders need to find ways to observe fundamental work processes in their organizations. When they do, they usually discover that there are gaps between theory and reality in how works get done. Michael Morales’ experience — in which identifying and addressing such gaps led to his company saving $50,000 in just 60 days — is a case in point.
Within a business, opposing ideas typically lead to conflict and, in the face of conflicting demands, managers will feel anxiety, stress, and frustration. However, the authors’ research at Aeon Co. Ltd., one of Japan’s largest retailers, suggests that a positive approach to handling conflicts between opposing ideas can create new value for a company.
Top management buy-in, articulating the business case, and ensuring employees have the support and training they need are essential for digital transformation.
In the spirit of the resolution season, here is an incomplete list of my commitments to my organization, the people who compose it, and to you, our audience, without whom we do not exist.
Effectively communicating the innovation journey and output to executives requires translation. While innovation processes are becoming more widely used across organizations, they are not always fully embraced at the executive level. Innovationists need to become bilingual — able to present in the style that strategy consulting firms use when making formal recommendations and updates. When speaking to executives, innovation leaders should make sure they are not only heard, but understood.
New research by J.P. Eggers of NYU’s Leonard N. Stern School of Business and Aseem Kaul of the University of Minnesota’s Carlson School of Management looks at how companies pursue radical invention and the success of those efforts. The researchers found that highly capable firms have much less motivation to take risks because they’re already so successful — but that they’re the ones most likely to succeed when they try to innovate.
It has become a truism that the pace of work is faster than ever, as digital technologies speed up communication and operational processes in a story of unending progress. But increased speed has not translated into increased rates of productivity growth. Since 2004, growth rates have slowed not just in the US but across the world. Chad Syverson, J. Baum Harris Professor of Economics at the University of Chicago’s Booth School of Business, explains what the implications are, and why the benefits of new technologies are not straightforward.
All functional areas have their own “language” to express the concepts most important to their roles in a company. In the fourth installment of his series on the Sustainability Insurgency, Gregory Unruh explains how CSR officers can introduce sustainability as part of the conversation in different functions.
A persistent challenge for companies as they grow is how to maintain the high level of dynamism and employee commitment that drove success in the early days. Over the years, thoughtful managers and management theorists have formulated many approaches for dealing with the problem, all aimed at giving managers and employees more responsibility and accountability for the performance of their own profit centers. But few companies have taken things as far as Kyocera Corp.
Big Data is often associated with big numbers, but less often with a big picture. The basic question — How can increasing the quantity, velocity and variety of captured data really impact how people manage? — can go unanswered. But in a MIT Sloan Executive Education course Big Data: Making Complex Things Simpler, MIT professors Erik Brynjolfsson and Alex Pentland offer that big picture view of the economic, societal and managerial transformations that they see on the horizon.
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