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in Harvard Business Review
by
David Silverman, May 2008
Amidst cutbacks, is lying by omission an egregious breach of ethics, or the right thing to do when deciding what to share about your struggling company? Silverman takes us through his travails leading a little typesetting concern laid low by his former partner, a lush who left a slew of bad business decisions in his wake. Plenty of drama here, but set aside the hide-all / tell-all advice from the author and drill down to the commentary from Kimberly Elsbach, a professor of management who counsels understanding the difference between interpersonal trust and competency-based trust, which can make all the difference in helping executives make ethical business decisions across industries.
Posted 4:20, 11 May 2008
This abstract was written by
Adrienne Jenkins
and edited by Brijit.
in Harvard Business Review
by
Jean-Pierre Garnier, May 2008
It's not often that CEOs lay their business plans out for the public, but Jean-Pierre Garnier of GlaxoSmithKlein has done just that here. He is convinced that research & development is Big Pharma's best hope to weather the financial and confidence crises that plague the industry. R&D, he says, can't "perform as a ballet dancer and a football player at the same time," and needs to split its one giant mass trying to execute all tasks at once into smaller, more specialized segments. Simplifying will hopefully encourage more zeal and creativity in a workplace that lacks both. Garnier's writing is engaging, detailed, and passionate.
Posted 4:17, 2 May 2008
This abstract was written by
Laura Sorensen
and edited by Brijit.
For many firms looking to increase value, adding ancillary services seems like a reliable way to secure a competitive advantage. However, succeeding as a service business isn't a simple process, as this well-researched piece indicates. Using evidence from a survey of 18 companies in a variety of industries, the authors identify the key steps manufacturing companies must follow to succeed in the service business. The simplest strategy is to begin charging for services that used to be free, while another effective effort is creating a service-savvy sales force. The authors also recommend focusing on customers' processes and industrializing the back office.
Posted 11:29, 2 May 2008
This abstract was written by
Brian Willett
and edited by Brijit.
As the face of global business changes, management strategists have begun to think outside the boardroom to develop the corporate leaders of tomorrow. Among the unlikely candidates for developing CEO skills are online massive multiplayer games. In games like Blizzard's popular World of Warcraft, players regularly join forces to overcome in-game challenges, often as part of digital organizations or teams. Looking at the players who run these volunteer organizations, the authors offer up a fascinating glimpse of how digital play could shape corporate mindsets, noting that gamers are especially willing to accept temporary leadership in the pursuit of a short-term goal, and value the structures that shape good leadership as much as the qualities of those in command.
Posted 10:36, 2 May 2008
This abstract was written by
Laura White
and edited by Brijit.
Pay attention: If you and your fellow employees can't articulate your company strategy, you are probably not going to succeed. The problem isn't just the process of strategic analysis, but rather implementing a simple approach to developing a clear and concise strategic statement. The key components are objective, scope, and advantage -- these must be stated in a way that will make a company unique. Collis and Rukstad give a superior outline of how to get there, and while they don't spend enough time on the communication side of this issue, the article is well worth a read by managers, particularly those responsible for strategy.
Posted 5:06, 8 April 2008
This abstract was written by
Patrick Tighe
and edited by Brijit.
As the authors of this useful piece point out, not every customer is a profitable one, and in some cases it might be better to stop providing services to those who fail to benefit the bottom line. This piece explores the pros and cons of customer divestment, drawing on the experiences of firms such as Allstate, Nationwide, and Nextel to show the consequences of cutting ties with a customer base. While such moves can increase profitability and boost morale, divestment can also lead to bad publicity. However, the authors provide a helpful, five-step plan to follow to ensure firms get the highest return on their divestment.
Posted 4:29, 8 April 2008
This abstract was written by
Brian Willett
and edited by Brijit.
Google is heralded as the gold standard of innovative Internet companies. More handy checklist than actual how-to, Iyer and Davenport dig into Google's successes and identify best practices that other companies can aim to adopt. The overarching technique they recommended is to structure an organization to foster innovation. No news here. But Google's internal architecture eliminates much of the red tape that slows progress, and actively encourages the chaos and improvisation from which innovation is born. The authors question whether Google can continue its impressive record of innovation in the long run (hello, scale!), but smartly conclude that competitors can't afford to sit around and wait.
Posted 12:24, 4 April 2008
This abstract was written by
Adrianne Yamaki
and edited by Brijit.
in Harvard Business Review
by
Stewart D. Friedman, April 2008
Author and Wharton professor Friedman understands that successful executives might have difficulty balancing the four main categories of life -- work, family, community, and self. His solution? Find "four-way wins" -- activities that attend to several areas simultaneously. He offers the example of an executive who runs a marathon for charity with her son. This activity permits her to spend time with family, contribute to the community, and take care of her health -- all at once. Friedman helpfully offers a systematic methodology to identify these wins, and suggests that if we are creative we can successfully integrate all four areas, thereby improving both our happiness and our productivity.
Posted 12:09, 4 April 2008
This abstract was written by
Adrianne Yamaki
and edited by Brijit.
in Harvard Business Review
by
Alexander V. Izosimov, April 2008
Izosimov explains the crucial stage of hypergrowth -- the massive expansion period young firms experience in which "the winners get sorted from the losers" -- and how taking advantage of it can make or break an emerging corporation. The author relates his experience as CEO of Russian cell phone producer VimpelCom, which underwent hypergrowth shortly after its IPO, reaching 80 percent market penetration in a mere ten quarters. In this informative piece, he offers five smart rules to help executives take advantage of hypergrowth: Sell first, and ask questions later; don't try too hard to innovate; organize like McDonald's; push decisions to the front line; and foster a can-do culture.
Posted 10:35, 4 April 2008
This abstract was written by
Brian Willett
and edited by Brijit.
In order to ensure that executives act responsibly and don't create a management meltdown, boards are spending more time focused on complying with government regulations. However, this tendency often comes with a dangerous shift away from long-range planning, which is of equal, if not greater, concern. The authors wisely suggest taking a more balanced approach, stressing the importance of interactions between board members, which, according to their research, is a crucial component in their effectiveness. This informative piece draws from the experiences of Philips Electronics and illustrates how a board that asserts its leadership in strategy and talent development can revolutionize a company.
Posted 10:25, 4 April 2008
This abstract was written by
Brian Willett
and edited by Brijit.