e JULY-AUGUST 2011, 23 Idea Watch What’s Your Social Media Strategy? 56 The Big Idea Winning in the Age of ete 4142 The HBR interview Disney’s Bob Iger on Reanimating the Brand tee es Build a culture of trust and innovation. COLLA PraLet's talk scalability. Not infrastructure limitations. Windows Azure is changing the conversation. Windows Azure is a scalable platform for developing and running applications in the cloud. Its near-infinite scalability means your business can develop applications with less lead time, and without having to worry about capacity. With Windows Azure, your business has the power to innovate, unhampered by infrastructure limitations. That's Cloud Power. Find out more about our cloud-based platform solutions. Microsoft.com/cloud/azure Scan our tag or text HARVARD3 to 70700:* £3 Windows AzureCelebrating Achievement Synonymous with the words attainment, triumph and fulfilment, achievement means different things to different people. For some, its the difference between success and failure; for others it indicates personal or professional success. As something unique to each and every one of us, achievement can manifest itself in many ways throughout life. Achieverient is as much about realizing one's dream as it is about inspiring creativity or achieving one’s business aspirations. What is certain is that one description rarely fits all. Qatar has long recognized that its people are the nation’s greatest asset. This fundamental belief guides Qatar in its path to secure its future in a post- hydrocarbon world. The past teaches us that natural resources, whether pearls, oil or gas, cannot be relied upon. Qatar has therefore chosen to secure its future by becoming a knowledge economy: a cradle of innovation, based in the Middle East, but global in scope and impact. ts ultimate goal is to become a creator of knowledge. This is a huge challenge, but it has the time and the resources to do the job. National Vision 2030 gave Qatar Foundation for Education, Science and Community Development (QF) anew and exciting mandate: to be the ‘engine’ driving the development of human capital. This mandate was called ‘unlocking human potential’. OF is supporting Qatar on its journey from carbon economy to knowledge economy by unlocking human potential through its pioneering work in Education, Science & Research and Community Development. Ia an With its academic partners, OF is providing a continuum of world-class education, work experience and career opportunities so young people have the attitudes, knowledge and skills required in the knowledge economy. OF is also working with its partners to build Qatar's innovation and technology capacity by developing and commercializing solutions in key sciences. OF's research strategy is built on complementing atar-based research efforts with expertise from abroad to build networks that provide home grown solutions for Qatar and the region. Work is also underway at OF to help foster a progressive society appropriate to the knowledge economy, while enhancing cultural life and protecting Qatar’ heritage. Achievement is without limits if it is supported by a world-class education, work experience and career opportunities. At OF, the kind of achievement that is celebrated can be seen in many people, places and projects. itis also the kind that builds a platform for innovation, contributes to fostering a culture of quality and excellence and in doing so benefits Qatar, the region and the world. Everyone can benefit from Qatar's transformation to a knowledge-based economy. This is a unique chance to build cross-cultural understanding and knowledge by fostering scientific breakthroughs, new projects and partnerships that benefit the world over. Treo tar Foundation ae)FOR PROOF THAT MARWA SALEH IS ONE OF THE TOP FEMALE COLLEGIATE DEBATERS IN THE MIDDLE EAST, please refer to the frustrated looks onheropponents’ faces.DAL mele ode cytd OU DCCL aT Na Rep rc) ERC Clg RT Ere _Sroundswell “The definitive guide for the business world on how to take advantage of social media.” —Fortune Det Eee eg oe oe you'll learn how consumers participate in social technology and how to build social technologies into your business. It features an all new introduction, chapters on Twitter and social media integration, illustrative videos, plus tools ‘and resources to help you share what you've learned. Tap here to download the enhanced e-book app now. PALL 4 ello SN Ue edEVERY INNOVATION. EVERY ACHIEVEMENT. EVERY BREAKTHROUGH IS ONLY POSSIBLE BECAUSE IT’S HUMANLY POSSIBLE. !#t2s2re manufactures onty by the imagination and the Pee ea a eee recognize this are the ones who will succeed. Our mission is to help organizations across the globe achieve more than they ever thought possible. From worklorce assessment, recruiting and training, to career management and talent based outsourcing, our Innovative Workforce Solutions let businesses reach their fullest potential by reawakening them to the very real power of people. We are ManpowerGroup. manpowergroup.com. Zh * ( tg i Vd °cou Cover arte Photography by Eue Henn July-August 2011 Contents ‘Are You a Collaborative Leader? The ability to harness ideas, people, and resources from across boundaries of all kinds has become a business essential To develop it, focus on four key skills. Herminia Ibarra and Morten T. Hansen 6 The Unselfish Gene Human beings are not as selfish as we've assumed, recent research suggests. if we recognize that, we can build systems geared for our better selves. Yochai Benkler 86 Bringing Minds Together The founder of Boston Scientific shares the stories of two innovators whose collaborative leadership upended established industries and produced revolutionary advances in medical science. John Abele 4 Building a Collaborative Enterprise Organizations that want to become the household names of this century must use collaboration to innovate efficiently on a large scale. Paul Adler, Charles Heckscher, and Laurence Prusak 1102 Whe Moved My Cube? Today we know that casual work encounters promote cooperation and innovation, and companies design with this in mind. ‘Why do their efforts so often backfire? Truly interactive spaces balance three things—proximity, privacy, and permission, Anne-Laure Fayard and John Weeks wor.one ‘hespotlght corg/spotight/ ‘alaboraton. dly-Aupust sem Harvard Business Review §Features July-August 2011 The Age of Hyperspecialization Atomizing knowledge tasks for vast communi- ties of specialized digital workers can greatly improve quality, speed, and cost. Here’s how to take advantage of this new trend. Thomas W. gj Malone, Robert J. Laubacher, and Tammy Johns Technology, Tradition, And the Mouse “Thoughts on Disney in China, modernizing Mickey, stewarding a great brand—and more ‘ ‘An interview with Disney CEO Robert A. Iger, by Adi ignatius ‘The New Psychology of wanone 1 1 8 Strategic Leadership oy s posts fn Ron ‘Why sits difcal to ream up truly novel Sone ayo doing business sbecase of = cognitive imitations we al share—but can ‘overcome. Giovanni Gavetti The Merger Dividend MBAs present unique opportunities to develop leaders. Dont let the naxt deal stip ‘through your fingers. Ron Ashkenas, Suzanne Francis, and Rick Henick s Adaptability: The New 1 Competitive Advantage if your competitive environment fs uncertain and fast changing, you may need to explot the capabilites that create “adaptive advan- tage." Martin Reeves and Mike Deimier 47 FINANCIAL 142 THE GLOBE REFORM The Paradox of Making Financial samsung’s Rise Markets Work ——tomove beyondits home For Consumers markets, samsung had to ‘Advice forthe director turn away from what had cofthenew Consumer made the company suc Financial Protection cessful. Tarun Khanna, Bureau John ¥. Camp-_aeyong Song, and bell, Howell. Jackson, KYungmook Lee Brigitte C. Madrian, and Peter Tufano 0116 037802'0 {6 Harvard Busines Review auly-August aonSINGAPORE AIRLINES A380 G LOS ANGELES-TOKYO-SINGAPOREDepartments July-August 2011 14) From the Editor 18 Interaction 23 Idea Watch 23 ninsr What's Your Social Media Strategy? Fourways companies are Using technology to form connections PLUS Why fai bosses often fll behind, and ‘the advantages of being “out” rather than closeted at work 20 DEFEND YOUR RESEARCH ‘The Color Pink Is Bad for Fighting Breast Cancer The strange effect that messages with gender cues can have on 22 VISION STATEMENT Deconstructing the Groupon Phenomenon Which online discounts produced the best results? aa FoR $50 MERCHANDISE “aTLowes 901 8000 $24,775 cross event “tama good captain” page 168 149 what one city's Groupon deals look ke page 32 Experience 149 MANAGING YOURSELF ASmarter Way to Network if you think what you need todos build a big, Cirle of high-powered contact, you're dead wrong, The best networks, research shows, ‘comprise six divers kinds of connections. ob Cross and Robert Thomas 154 CRUCIBLE ATough Lesson in Local Politics what young sports entrepreneur learned by facing Upto community erties Daniel Mecinn 8 Harvard usiness Review July-August 201 ‘cous 126 ROSABETHMOSSKANTER Inan ever-changing technology landscape, continuous evolution is key. 138 THOMAS J. THERNEY Even competitors can accomplish in a group what no one member could do alone. 1 HowrDiD rr ‘The CEO of Bayer Corp. on Creating ‘A.Lean Growth Machine dlindsided by a proposal to close down his company’s North ‘American headquarters, the author drasti- cally cut overhead~and won $70 million to transform the organization. Gregory . Babe Do you know the best way to network? page 43 7 casestuby ‘The Gentleman's “Three” if everyone receives the same polite score on performance reviews, how do you decide who gets the x2 rian J. Hall and Andrew Wasynezuk 162 SYNTHESIS Reviews 164 EXECUTIVESUMMARIES 168 Lire's work Desmond Tutu On the patience of South Africans and thee "wonderful, capacity to laugh” Read the cercended Incrvew. brong/tutu ‘anina THE FONNY Enter our monthiy feartaon caption ‘contest. hororg/ strategichumorMy client knows her COMPLEX INVESTMENTS could be doing more. | work with a team of investment managers who are ready to build her PERSONALIZED PORTFOLIO. 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Allright reserved 580022.10,eee my CoO UU Ru Recut Sen CUE Pe Ue ee ie = tan bring together ideas and push complex human Cr ee eas eR ayy Pema TeHBR.ORG “You can’t allow tradition to get 4 v Management in the way of innovation.” im Comes to Life + our ne home for PY ACO.) ea cee Mel ete) icelai) Soe eee nm eM ar eoime (Vineet: ad oe ereeereae Go to hbr.org/multimedia. Inavary/of nds, Fi Join the Discussion Find out what people are "Ht saying on the HBR blog network, home to insights from academies, practitioners, and experts, Add your opinion at blogs.hbr.org. Free Chapter Great innovators are made, not born. Learn how in The Innovator’ DNA: Mastering the Five Sls of Disruptive Innovators at hbr.org/chapters/dyer. in Your n-Box Signup for any of our 14 e-mail newsletters, ranging from the Daly Stat to monthly updates on core topes such as strategy and leader ship, at enewsletters.hb.og, ‘on Your iPhone Want instant access to blogs, interviews, and articles about the latest management thinking? Download the Phone app HBR Today. 12 Harvard Business Review July-August 207MZ> Wrena serious tiness occurs, like aheart attack or stroke, the last thing anyone wants to think about isthe Serious illnesses can be devastating. Paying for them shouldn’t be. Introducing Critical Care and Recovery. costs major medical insurance doesn't cover. And because its a voluntary purchase by your employees itwon't cost your business a penny. Find out more at aflac.com/eriticalcareHeR.oRG From the Editor In football, betting on point spreads isa side- show. In American-style capitalism, it's paramount. 14 Horvard usiness Review July-August 20% CEO Pay Is Up! Is That Good? HO pay has returned to its prerecession levels. According to Equilar, a firm that tracks U.S. executive compensation, total pay packages for (CBOs at S&P 500 companies rose 28% in 2010, toa median of $9 million. It’s hard to know exactly how to take this news, On the one hand, it’s positive economicindicator of sorts, in that a CEO's compensation tends to be linked to the company’s stock price. The markets saw a strong recovery in 2010; the ‘S&P 500 index, for example, rose 13%. On the other hand, there’s something unsettling about this development. In the immediate wake of the financial crisis, nearly everyone agreed that we had gotten into trouble partly because tying ‘compensation to short-term performance had enriched individuals while putting institutions—and the overall system—at risk. In an interview that begins on page 112, Disney CEO Robert Iger addresses the problem. He made $28 million last year in salary, bonus, and stock options. But Iger concedes that there is too much emphasis, in his and other CEOs' pay packages, on short-term stock results, and he urges compensation committees to rethink their approach. Someone else who has thought great deal about the compensation conundrum is Roger L. Martin, the dean of the Rotman School of Management at the University of Toronto. A frequent contributor to HBR, Martin isthe author of anew book—Fixing the Game: Bubbles, Crashes, and What Capitalism Can Learn from the NFL (Harvard Business Review Press, 2011)—that tackles this puzzle. He argues that Wall Street's fixation on quarterly earnings—and on “consensus” market expectations concerning them-—distorts how we view company performance and creates dangerous incentives for executives. He provides great metaphor: Professional football ensures that betting on point spreadsisa sideshow to actual game results. In American-style capitalism, by contrast, performance against the market's expectations (equivalent to. point spread) is paramount. “Can you imagine Tom Brady apologizing to the public for winningby less than the point spread?” Martin asked at a recent presentation in Toronto. “Of course not. But that’s what happens when CEOs fail to meet the ‘market's consensus expectations. And no matter how good youare, you cannot beat expectations forever.” Turge everyone who cares about the economy (and football, for that matter) to read Martin's book. A free chapter can be found at hbr.org/chapters/martin, ‘Adi ignatius, Editor in Chiefcio. Csi Studies ‘Smarter business for a Smarter Planet Go inside the minds of over 3,000 leading CIOs. ‘With a unique, end-to-end view oftheir businesses, today’s COs are a driving force behind what makes ‘companies work smarter. It's critica, as one CIO put it, to “ensure you understand the vision, have a clear strategy and execute where the business wants to go." This is one of the many insights uncovered when we ‘met face-to-face with over 3,000 Ci0s to create The Essential C1O — the largest study ofits Kind to date. This test edition of our ongoing C-sulte Studies series reveals how COs from different-sized companies ‘across the globe have become more aligned to CEOs, and are using IT innovation to drive real business results. More than ust a colection of thoughts, The Essential CIO's a guide to buling a smarter organization ‘A smarter business needs smarter thinking. Let's buld a smarter planet. Get The Essential CIO: Insights from the 2011 IBM Global CIO tua). ibm.com/ClOstudy2STANFORD Oo Ro UR eee Executive Educati FROM MANAGER TO LEADER ROR Com MCL Ren aU Re ee eta Aun eRe uu Cae cl um Ceo Pee eae ch oe Oe Coe COSC RC ue a Ce CURR cy OCR UP ee eee ene MSU cee Ne frameworks, design thinking, and personal leadership CO uns Oe Se ea OR ena ta EXECUTIVE LEADERSHIP DEVELOPMENT: ANALYSIS TO ACTION This two-module program takes place January 15 - 27 and April 15 - 20, 2012 Visit StanfordToday.com to learn more. 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Eight Oxford-based modules Sep 2011 ~ Feb 2013, wwresbs.oxford.edumpm ‘To learn more about how to transform your thinking within a _lobal peer group please contact ‘caroline. williams@sbs.ox.ac.uk ‘or on +44 (0)1865 422 583 =) Said Business School 2B UNvERIT oF oxFoROInteraction The Case for Executive Assistants aR article by Melba J. Dunean, May 2001 Duncan’s argument—that companies have hurt productivity by cutting back too far on administrative help—struck a chord with readers. Many readers agreed that EAs are an underappreciated asset: Without them, executives are forced to complete their own expense reports, book their own travel plans, and schedule their own meetings. But some and even go house hunting with her. Along, ‘the way, she provided immense support to help me continue my studies and move into ‘a managerial role. n fact, a ve moved into subsequent roles, people have com ‘mented that because I started as an EA, | must have unique perspective on how companies work. They'e right. Judy Weldon, internal communications manager, Telstra Atruly effective assistant can make not only the exec but all those who ‘work with him more productive. its a true trickle-down effect. ona Jurkiwiex, HR state, planing, nd project manager, Thomson Reuters debated whether too many senior managers step over the line, asking assistants to handle personal business—or worse. ‘When | was in my last role, an executive assistant was brought in to support three of us. At frst we thought this would not be an effective use of a resource. After a few ‘months, however, the EA knew how each cof us worked and where we needed sup- port Having an assistant made us all more productive and organized. We became confident that we could travel, knowing the department would function in our absence. ‘These individuals have an important role to play in business, even inthis self-sufficient, high-tech society. Matt unn, head of business development, Benchmark or Business For the past five years, my request for an A has continued to fall on deaf ears. Its not that | find administrative work “be- neath me"—but does it relly make sense to pay me to copy and paste data into forms or play phone tag to schedule meet- Ings? ve been trying to make this point to ‘my bosses: With the right EA, I could do so ‘much more—It would be a win-win forthe ‘company and for me. The excuse | get is that it would add to head count. But in my view, ify managers don't see how I can add more value to the company if! were ‘reed from these tasks, why should teven try? ‘Doreen Price, senior consultant, human resources ceneutng frm ‘The question about EAs’ doing personal tasks really depends ‘onthe relationship. When | was {an EA, my boss became a men- tor and a fiend. She relied on me not only to help her manage her priorities but also to pay her bills, organize her holidays, | worked for corporations before becom= Ing a self-employed consultant. would ‘Shared Value vs. Don’t Be Evil HBR blog post by David Weinberger, April 2071 Michael Porter and Mark Kramer's January HBR article, “Creating Shared Value,” “goes down ‘smooth because it holds out the promise that corporations can support shared values without pain,” wrote Harvard Berkman Center senior researcher David Weinberger. But such an appeal “skirts the hard cases, which are, alas, most of the cases.” Mark Kramer responded: business can create through its value chain activities. We are suggesting that so- cial and environmental factors carry genu- ine economic implications for business strategy—both costs and benefts—and that these considerations, long resisted by businesses, must be included in corporate decision making. Itis up to the government to determine \which harmful behaviors society should clsallow. Business executives should not bee the ones to decide whether itis right ‘One of the risks we took in using the term “shared value” was that it might be confused with “shared values" —as David refers to italluding to ethical judgments rather than the incremental ‘economic and social “value” that 18 Harvard Business Review July-August 201ORG oo interact with Us ‘The best way comment on any artes on ‘WBR.ORG, You can also reach sia ‘EMAIL: hr letters, FACEBOOK: facebook com/HOR “TWITTER: titte.com/MarvardBiz Cconespondence may be edited for spaceand syle. consider going back inside a company if could have an assistant to do my schedul- Ing, expense reports, ete. Assistants make their bosses much more productive, David alse, CEO, Dark Mater Consulting Whereis the boundary between the pro- fessional and the personal? Should EAS ‘know about their bosses’ personal detalls? All Echihab founder and generl manager ‘ants Development ‘The author responds: Some executives ex- ‘pect that their Eas will manage both their business and their personal lives, but this needs to be clearly stated at the time of hire. f performing personal tasks conflicts with your sel-image, then don't take a position with these requirements. When an executive and her assistant ar team, working together through the challenges ofthe day, these tasks become a nonissue. Early in my career, a boss told me, “Never et anyone treat you in a way you don't want tobe treated." and think that’s sound advice. Relationships evolve, and sometimes an EA can help execu- tives change behavior. if not, it's time to {find a new position. Never work frrencoeyoucervepes. gy admire, oF tust ‘or wrong to sell guns or soda pop based on their personal definitions cof whats “evi.” tis ll oo easy to Impose the American concept of “doing the right thing” on the rest ofthe word, but theres too much variation among the values of different countries, ligions, and cultures for any global corporation to operate that way. ark Kramer, cofounder, How to realize leadership potential i 1. Recognize Organizational Problem @) 2. if Call for Help @ ut @ @/| 4 rr Apply Resolution Practical skills for the business minded Upcoming Leadership Program: Columbia Senior Executive Program October 16 - November 11, 2011 General Management Leadership Program October 16-28, 2011 3. Address the Issue ‘Tolearn more, visit: RealizeYourLeadership.com & Columbia Business School EXECUTIVE EDUCATIONInteraction ‘The Upside of Useless Stuff aR column by Dan Arely, May 201 Ariely asserts that in this era of a “new kind of capitalism,” even the most useless of luxury products can inspire economic growth by giving consumers something to want, because “in order to be able to afford it, they'd have to work—to be productive.” Aiely presupposes a system in which working harder means making more ‘money. Many workers are compensated (on aper-hour or per-day basis, not on an output basis; how productive they are often does not affect their wages. A cus- todian who works as hard as possible will still mast likely not make enough money to buy iPads and leather couches; indeed, hhe may not make any more money than a ‘coworker who phones it in and produces halfas much. ‘Brittany Bonney, ‘masters candidate, Columbia University fa person is driven to work harder in order to acquire more stuf, why can't it be useful stuff? The “new kind of capitalism” isn't about removing marketing hype altogether bbutinstead directing it toward products that have postive social benef. ‘Cristian Lis, statege business analyst, Offce of Business Management and Transformation, US. Department of Health and Human Services ‘The insight inthis column is fresh, overdue, ‘and necessary in today’s society—neot just business I's true that excessive mate- rial goods are motivating, and they can be ‘a noble cause in the end. Often, a carrot is necessary for achievement—be it aneed or ‘want. However, true long-term happiness pivots on our ability to balance what we're ‘earning and how we're earning it a 2 cameron Clark, safety manager, Echostar Broadcasting Corporation 120 Harvard Business Review July-August 20m Cracking the Next Growth Market: Africa HR article by Mutsa Chironga, Acha Leke, Susan Lund, and Arend van Wamelen May aon In the midst of poverty and politi- cal turmoil, Africa’s economy is ready for takeoff. Four authors from McKinsey write, “In many ways Africa holds the same potential that China did 20 years ago.” Our readers and Facebook fans shared their thoughts on whether this sleeping continent is indeed ripe for economic awak- ening—or if it will continue to be bogged down in corruption. The Would-Be Pioneer HBR article by Sarah Green, April2on ‘As the subject ofthis Cru Why is Africa growing so suddenly? Chinese Investors arent turned off by corruption or shackled by massively time-consuming U.S. bureaucracy and nonsense. They don't have to answer to humanitarian complaints. Emerging countries’ standards of doing business (think: explicit bribery) are more like Africa's and less like those of the US. Michael 8. Musgrove, ‘managing director, NowsOne Consulting Africa's growth has been suppressed by the absence of critical infrastructure, usually provided by the government. But with the ‘new wave of private-sector participation, the provision of basic infrastructure, and the return of highly skilled labor from the diaspora, Africas the next frontier for business. ‘echulewu Kalu, teacher, Achievers Tutorial Center One of the serious growth opportuities for Africa is te rise of female business leaders and entrepreneurs. They have demonstrated, against many structural ‘dds, even in the face of sexism and other forms of discrimination, that they are the engines driving innovation and growth in africa. Isabella Matambanadzo, (CEO, Enterprise Zimbabwe ‘Africa's economy is finally catching up, probably due to the commodity boom, Which | dont think will continue for a longer period, at east notin the short- to-medium term. a a Manish taddha, director, ideas it Research le article, lam writing to correct errors and clarity key points: ‘As anative New Yorker, nota Baltimorean, | completed my doctoral degree at Harvard University, analyzing the fist global pharmaceutical merger. Many years later, | created the global human resources consulting firm WorldWiseHR, which had several global