Leadership and 꽁 머니 카지노 3 만
McKinsey research reveals a wide gap between the aspirations of executives to innovate and their abil꽁 머니 카지노 3 만y to execute. Organizational structures and processes are not the solution.
Joanna Barsh, Marla M. Capozzi, and Jonathan Davidson
Like short skirts, 꽁 머니 카지노 3 만 has traditionally swung into and out of fashion: popular in good times and tossed back into the closet in downturns. But as globalization tears down the geographic boundaries and market barriers that once kept businesses from achieving their potential, a company’s ability to innovate—to tap the fresh value-creating ideas of its employees and those of its partners, customers, suppliers, and other parties beyond its own boundaries—is anything but faddish. In fact, 꽁 머니 카지노 3 만 has become a core driver of growth, performance, and valuation.
Our research bears out this point. More than 70 percent of the senior executives in a survey we recently conducted say that 꽁 머니 카지노 3 만 will be at least one of the top three drivers of growth for their companies in the next three to five years.1Other executives see 꽁 머니 카지노 3 만 as the most important way for companies to accelerate the pace of change in today’s global business environment.2Leading strategic thinkers are moving beyond a focus on traditional product and service categories to pioneer 꽁 머니 카지노 3 만s in business processes, distribution, value chains, business models, and even the functions of management (see “Innovative management: A conversation w꽁 머니 카지노 3 만h Gary Hamel and Lowell Bryan”).
Our research also shows that most executives are generally disappointed in their ability to stimulate 꽁 머니 카지노 3 만: some 65 percent of the senior executives we surveyed were only “somewhat,” “a little,” or “not at all” confident about the decisions they make in this area.3What explains the gap between the leaders’ aspirations and execution? Even starting to build an organization in which 꽁 머니 카지노 3 만 plays a central role is often far more frustrating than most executives ever imagine it to be. Many of those who mimic the approaches of the most successful practitioners have found that path to be ineffective. Sustaining 꽁 머니 카지노 3 만 to create real value at scale—the only kind of 꽁 머니 카지노 3 만 that has a significant financial impact—is even harder.
There are no best-practice solutions to seed and cultivate 꽁 머니 카지노 3 만. The structures and processes that many leaders reflexively use to encourage it are important, we find, but not sufficient. On the contrary, senior executives almost unanimously—94 percent—say that people and corporate culture are the most important drivers of 꽁 머니 카지노 3 만.
Our experience convinces us that a disciplined focus on three people-management fundamentals may produce the building blocks of an innovative organization. A first step is to formally integrate 꽁 머니 카지노 3 만 into the strategic-management agenda of senior leaders to an extent that few companies have done so far. In this way, 꽁 머니 카지노 3 만 can be not only encouraged but also managed, tracked, and measured as a core element in a company’s growth aspirations. Second, executives can make better use of existing (and often untapped) talent for 꽁 머니 카지노 3 만, without implementing disruptive change programs, by creating the conditions that allow dynamic 꽁 머니 카지노 3 만 networks to emerge and flourish. Finally, they can take explicit steps to foster an 꽁 머니 카지노 3 만 culture based on trust among employees. In such a culture, people understand that their ideas are valued, trust that it is safe to express those ideas, and oversee risk collectively, together with their managers. Such an environment can be more effective than monetary incentives in sustaining 꽁 머니 카지노 3 만.
This list of steps is not exhaustive. Still, given the limited time and means—as well as the short-term performance pressures that executives constantly face—pursuing 꽁 머니 카지노 3 만 with anything other than existing talent and resources often isn’t an option. These three fundamentals are a practical starting point to improve an organization’s chances of stimulating and sustaining 꽁 머니 카지노 3 만 where it matters most—among a company’s people.
Leading 꽁 머니 카지노 3 만
While senior executives cite 꽁 머니 카지노 3 만 as an important driver of growth, few of them explicitly lead and manage it. About one-third say that they manage 꽁 머니 카지노 3 만 on an ad hoc basis when necessary. Another third manage 꽁 머니 카지노 3 만 as part of the senior-leadership team’s agenda. How can something be a top priority if it isn’t an integrated part of a company’s core processes and of the leadership’s strategic agenda and—above all—behavior?
According to 19 percent of the senior executives, neither growth nor 꽁 머니 카지노 3 만 is part of the strategic-planning process, which focuses solely on budgeting and forecasting. Just under half indicated that 꽁 머니 카지노 3 만 is integrated into the process informally. Only 27 percent said that 꽁 머니 카지노 3 만 is fully integrated into it. But these executives feel more confident about their decisions on 꽁 머니 카지노 3 만 and say that they have implemented ways to protect it and to ensure that it gets the right talent.
In a separate survey of 600 global business executives, managers, and professionals, the respondents pointed to leadership as the best predictor of 꽁 머니 카지노 3 만 performance.4Those who described their own organization as more innovative than other companies in 꽁 머니 카지노 3 만s industry rated 꽁 머니 카지노 3 만s leadership capabil꽁 머니 카지노 3 만ies as “strong” or “very strong.”5Conversely, those who believed that the abil꽁 머니 카지노 3 만y of their own organization to innovate was below average rated 꽁 머니 카지노 3 만s leadership capabil꽁 머니 카지노 3 만ies as significantly lower and, in some cases, as poor.
As with any top-down initiative, the way leaders behave sends strong signals to employees. 꽁 머니 카지노 3 만 is inherently associated with change and takes attention and resources away from efforts to achieve short-term performance goals. More than initiatives for any other purpose, 꽁 머니 카지노 3 만 may therefore require leaders to encourage employees in order to win over their hearts and minds. Our sample of 600 managers and professionals indicated that the top two motivators of behavior to promote 꽁 머니 카지노 3 만 are strong leaders who encourage and protect it and top executives who spend their time actively managing and driving it. Indeed, senior executives believe that paying lip service to 꽁 머니 카지노 3 만 but doing nothing about it is the most common way they inhibit it. The failure of executives to model 꽁 머니 카지노 3 만—encouraging behavior, such as risk taking and openness to new ideas, places second. Rewarding nothing but short-term performance and maintaining a fear of failure also make it to the top of the respondents’ list of inhibitors.6
Holding leaders accountable for encouraging 꽁 머니 카지노 3 만 makes a big difference. Thirty percent of the senior executives in the survey were accountable for it, through formal targets or metrics, in their performance reviews. They were more likely than the broader group of respondents to view 꽁 머니 카지노 3 만 as one of the primary growth drivers, to manage it formally as part of the leadership team or through an 꽁 머니 카지노 3 만 council, and to learn from their failures to achieve it.
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