Management Innovation

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The New Digital Mandate: Cultivate Dissatisfaction

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  • Read Time: 7 min 

Employee satisfaction can be a double-edged sword. Satisfied employees produce higher quality-outputs and have less turnover. But satisfaction can inhibit innovation: People who are OK with the current way of doing business are not likely to transform it. They need to be aggravated enough with their current situation that they are willing to take the risks to change it. By sowing the right kinds of dissatisfaction, leaders can drive their organizations to higher levels of innovation and value.

Five Principles for Organizing Collective Intelligence

A featured excerpt from Big Mind: How Collective Intelligence Can Change Our World. Geoff Mulgan’s new book provides a guide to managing and optimizing collective intelligence. The five fundamental principles Mulgan outlines in this excerpt offer a nuanced answer to the question: “What is it, at the micro and macro levels, that allows collective intelligence to flower?”

How Office Seating Arrangements Can Boost the Bottom Line

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Investopedia CEO David Siegel doesn’t micromanage — except when it comes to employee seating arrangements. He personally recommends where each new employee should sit with an eye toward improving collaboration between departments. And his entire executive team sits together — no offices, cubicles, or preferential seating. He argues that this approach to team building and breaking down silos has been critical to his company’s success.

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Winning With Open Process Innovation

Managers in manufacturing companies often keep process innovation activities tightly under wraps. Some companies have good reasons for keeping process innovations concealed. However, the authors’ research suggests that for most manufacturers, such defensiveness deprives companies of a valuable source of ideas for productivity improvement. Many manufacturers, they argue, can benefit from sharing process innovations rather than keeping them secret.

Leading to Become Obsolete

Zhang Ruimin, the CEO and chairman of the Qingdao, China, white goods giant Haier Group Corp., has done what most chief executives dare not even dream about. He blew up nearly the entire administrative structure of a global manufacturing enterprise, eliminating the 10,000 management jobs that once held it together, and reshaped the organization into a network of entrepreneurial ventures run by employees.

Developing Innovative Solutions Through Internal Crowdsourcing

Internal crowdsourcing, which seeks to channel the ideas and expertise of the company’s own employees, allows employees to interact dynamically with coworkers in other locations, propose new ideas, and suggest new directions to management. Because many large companies have pockets of expertise and knowledge scattered across different locations, harnessing the cognitive diversity within organizations can open up rich new sources of innovation.

When Innovation Meets the Language of the Corner Office

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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.

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How to Succeed with Radical Innovation

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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.

Improving Analytics Capabilities Through Crowdsourcing

Analytics capabilities can greatly expand a company’s ability to innovate — but what do you do when the talent you need just isn’t available? Agribusiness giant Syngenta, faced with an insurmountable analytics talent bottleneck, turned to crowdsourcing. Using a series of contests, it outsourced the development of a set of award-winning analytics tools to improve its decision making — and learned, in the process, some key factors supporting successful crowdsourcing.

Managing the Bots That Are Managing the Business

We are just at the beginning of the transformation from an economy dominated by human workers to one dominated by electronic workers. The great management challenge of the next few decades will be understanding how to get the best out of both humans and machines, and understanding the ins and outs of who manages whom.

Where Digitization Is Failing to Deliver

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.

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Image courtesy of Flickr user Mikel Ortega. https://www.flickr.com/photos/mikelo/4056467981

The Key to Business Success: 'Stringing Multiple Opportunities Together'

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  • Read Time: 2 min 

New research looks at the strategies executives use in capturing new growth opportunities. “Resist jumping at the first potential opportunity,” write Christopher B. Bingham (Kenan-Flagler Business School), Nathan R. Furr (Marriott School of Management) and Kathleen M. Eisenhardt (Stanford University). Instead, evaluate whether one opportunity will it set you up for future ones — what the authors call “sequencing opportunities.” They write: “Sustained business success appears to depend not just on capturing one opportunity but also on stringing multiple opportunities together.”

The Dandelion Principle: Redesigning Work for the Innovation Economy

People who are “different,” either behaviorally or neurologically, can add significant value to companies. The authors, who studied the practices of innovative organizations and the experience of a Danish company working with people with autism, argue that companies can benefit from adjusting work conditions to embrace the talents of people who “think differently” or have “inspired peculiarities.” “Managing innovation is less about averages and more about understanding outliers,” write the authors.

Accelerated Innovation: The New Challenge From China

Chinese companies are opening up a new front in global competition. It centers on what the authors call accelerated innovation — that is, reengineering research and development and innovation processes to make new product development dramatically faster and less costly. The new emphasis is unlikely to generate stunning technological breakthroughs, but it allows Chinese competitors to reduce the time it takes to bring innovative products and services to mainstream markets. It also represents a different way of deploying Chinese cost and volume advantages in global competition.

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.

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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