Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
0Activity
0 of .
Results for:
No results containing your search query
P. 1
Mgmt404 Winter 2012 Lecture Notes Seminar 8 03 23 12

Mgmt404 Winter 2012 Lecture Notes Seminar 8 03 23 12

Ratings: (0)|Views: 3|Likes:
Published by Amit Padam

More info:

Published by: Amit Padam on Jul 19, 2012
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as DOC, PDF, TXT or read online from Scribd
See more
See less

07/19/2012

pdf

text

original

 
March 22, 2012Centennial CollegeWINTER 2012 Semester MGMT404 “Management and Leadership”Instructor: James Farmer Lecture Notes: SEMINAR 8
Seminar 8 “Management and Leadership”
ARTICLE 1. “An Agenda for Management Innovation” by Gary Hamel(Page 37)
Observation:
If management innovation has been incremental in recentyears, it may be due to a lack of daring in the choice of problems to tackle.(Page 38)
Observation:
First, you do not always have to tackle big risks to solve big problems. Innovation is usually an iterative process where solutions emergethrough trial and error.
Observation:
Second, if the problem is big enough, progress of any sort will bevaluable, even if you never find a “solution”. It may turn out that many of the 21
st
century’s most perplexing management problems are ones we can only work at – they will resist attempts at a quick fix, but will reward persistent, imaginativeeffort. It takes ingenuity, pluck, and perseverance to solve big problems.(Page 39) Frederick Taylor (the famous American management theorist) is animportant explanatory guide for Hamel. Taylor was single-minded in his devotionto efficiency because he was strongly opposed to waste of any kind. But, Taylor introduced the idea that “to maximize the chances for precedent-breakingmanagement innovation, devote yourself to a problem that is consequential andinspiring, essential and laudable.”If as a manager,
you do not have a challenge in mind,
then the following leadingquestions will help focus your search:1)What are the new challenges the future has in store for your company? Whatare the emerging discontinuities that will stretch it management processes
 
and practices to the breaking point? What is “tomorrow’s problem” that youneed to start working on right now?
2)
What are the tough balancing acts your company never seems to get right? Isthere a critical trade-off where one side always seem to prevail at theexpense of the other? What’s the frustrating “either/or” you would like turninto an “and”?3)What are the biggest gaps between rhetoric and reality in your company?What are the values it has the hardest time living up to, or finds the most toinstitutionalize? What is the espoused ideal you would like to turn into anembedded capability?
4)
What are you indignant about? What are the frustrating incompetencies that plague your company and other organizations like it? What is the “cannotdo” that needs to become a “can do”?(Page 40)
The Three Formidable Challenges that Confront Companies
1.Dramatically accelerating the pace of strategic renewal in organizationslarge and small2.Making innovation everyone’s job, every day.
3.
Creating a highly engaging work environment that inspires employees togive the very best of themselves(Page 42)
DINOSAURS
Few companies, it seems are able to change ahead of the curve. There have always been dinosaurs that have failed to reinvent themselves on a timely basis and have paid the price. In recent years, this has also been the case for certain industries thathave been caught behind the change curve.Why has this happened? It is because the environment has changed – and what haschanged most, remarkably, is change itself. What distinguishes our age fromearlier times is not the world-flattening impact of communications, not theeconomic ascendance of China and India, not the resurgence of ancient religiousanimosities, but, it is
a frantically accelerating pace of change.
 
The balance of promise and peril for any particular organization depends on itscapacity for adaptation.(Page 43) Nearly all the accounts of 
deep change
 – entailing big shifts in acompany’s business model or core mission – are stories of turnarounds, with a newCEO typically cast as a hero. It seems that deep change is nearly always crisis-led,episodic, and programmatic. Sadly, it is rarely opportunity-led, continuous, and a product of the organization’s intrinsic capacity to learn and adapt. A turnaround istransformation tragically delayed – an expensive substitute for well-timedadaptation.
GOAL:
is to build organizations that are capable of continual, trauma-freerenewal. Change must become an automatic process- to build organizations thatare capable of continuous self-renewal in the absence of a crisis.Many factors contribute to strategic inertia, but three pose a particularly gravethreat to timely renewal. The first is the tendency of management teams to deny or ignore the need for a strategy reboot. The second is a dearth of compellingalternatives to the status quo, which often leads to strategic paralysis. The third isallocational rigidities that make it difficult to redeploy talent and capital behindnew initiatives.
1)
DENIAL:
Denial follows a similar pattern. Disquieting developments are atfirst dismissed as implausible or inconsequential, then rationalized away asaberrant or irremediable, then grudgingly mitigated through defensiveaction, and then finally, though not always, honestly confronted.
2)
A Dearth of New Strategic Options:
To escape the gravitational pull of aneconomically challenged business model, a company needs a compellingarray of new strategic options. Innovation suffers when senior executivesdemand ironclad assurances of future success before investing even smallamounts of capital and talent, in young, formative ideas. However, this doesnot mean that every new idea, no matter how crazy, deserves to be funded.To build an adaptable company, managers need to worry less about weddingout low-probability ideas, and more about building a diverse portfolio of nonincremental strategic options.

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->