Wednesday, November 29, 2006

Gary Hamel's keynote

[October 2007 - see an updated post on "The Future of Management" here.]

Gary's topic is: What is the future of management? Have we reached the end of the road in management innovation?

Most sustainable, longest-lasting innovation
Management Innovation
Industry Architecture Innovation
Business Model Innovation
Product Innovation
Operational Innovation
Least sustainable, shortest-lasting innovation

Radical management innovations of the past:

  • General Motors: Divisionalization - Sloan's idea
  • Toyota: Investing in problem-solving skills of every employee
  • Procter & Gamble: Brand management (management of intangible assets)
  • Visa: building a network of banks to compete and collaborate
  • Linux/Apache open source software - ability to create complex products with a distributed workforce
Management innovation is radical when the reaction to the change is contrary--how can they do that? (e.g., Microsoft's reaction to the open-source movement)

What's next?

Areas to explore:
  • Dealing with accelerating change
  • Dealing with intensifying competition (falling barriers to entry, low-cost competitors, increasing power of customers)
  • Driving innovation throughout the company on a continuous basis
  • Creating value despite the dispersion of knowledge across companies (outsourcers, partners, etc.)
Gary's hierarchy of human capabilities:
  1. Passion
  2. Creativity
  3. Initiative
  4. Intellect
  5. Diligence
  6. Obedience
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