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Something new under the sun


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Summary of the 2011 Best Companies for Leadership Study

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Something new under the sun

  1. 1. Something new under the sunSummary of the2011 Best Companiesfor Leadership studyIn an uncertain and uneven global business environment, everyone agrees thatcompanies must innovate to survive. The Best Companies for Leadership follow fourbusiness practices that support meaningful innovation and drive market leadership.Leading companies have recognized that meaningful innovation invites and supports innovation and allows new ideas to flourish.requires a long-term commitment to a disciplined approach. The practices followed by the best companies enable andThey have focused their efforts on creating a culture of encourage innovation that matters – and any business caninnovation: an environment throughout their organizations that follow their lead and make innovation easier.©2012 Hay Group. All rights reserved
  2. 2. Something new under the sun Enable organizational agility With the accelerating pace of change, the They focus on instilling agility in their leaders, window for meaningful innovation is narrower and design job roles to allow flexibility in than ever. The best companies have flattened responding to immediate projects. They work their organizations and streamlined governance, quickly to translate strategies and decisions into becoming more agile and reducing obstacles action, and drive decision-making authority to innovation. down the organizational structure. Flexible, responsive organizations n Top 20 n All companies My company evaluates the performance of its leaders based on their agility. In this company, significant strategic and operational decisions are quickly translated into action. 0 20 40 60 80 100 Set the stage for innovation The best companies provide a context to nourish Moreover, they are almost twice as likely as other and support meaningful innovation. They ensure companies to support unprofitable projects in that employees understand the organization’s order to try new things – demonstrating a business strategies, and encourage extensive commitment to innovation and encouraging the discussion of future customer needs. extra effort and risks it entails. Setting the stage n Top 20 n All companies Employees spend much time discussing customers’ future needs. My company runs unprofitable projects to try new things. 0 20 40 60 80 100©2012 Hay Group. All rights reserved
  3. 3. Broaden perspectivesDifferent ways of thinking are essential toinnovation. The best companies pursue multiplestrategies to incorporate different perspectivesin the workforce.n hey create room for new ideas, and look for T n They engage the next generation, who value them everywhere in their organizations. sustainability and bring their ideals to work.n They value differences, and seek cultural, n They deliberately seek to expand their ethnic and national diversity in their workforce. employees’ capabilities and professional experiences. A wider net, a broader view n Top 20 n All companies My company provides structured opportunities for younger employees to promote innovative new ideas. My company actively recruits cultural minorities. Leaders in my organization work hard to connect people with projects that are personally meaningful to them. Employees are encouraged to learn in areas outside of their expertise. 0 20 40 60 80 100Focus on collaborationIf different perspectives are the raw materials They emphasize close collaboration among leadersof innovation, collaboration is the process in different parts of their organization, and takethat brings them together. Accordingly, prompt action when leaders are not collaborating.the best companies do not merely preach Just as importantly, they reward collaboration,collaboration: they virtually require it. incorporating team-based measures in their incentive plans. Putting teeth in collaboration n Top 20 n All companies My company evaluates and rewards our leaders based on their ability to build excellent relationships with their peers. My company takes clear action when a leader is not collaborating (even if he/she has strong business results). 0 20 40 60 80 100
  4. 4. Something new under the sun Global top 20 Best Companies for Leadership 1 General Electric 2 Procter Gamble 3 IBM 4 Microsoft 5 Coca-Cola 6 McDonald’s Corporation 7 Accenture 8 Wal-Mart Stores 9 Johnson Johnson 10 Unilever 11 Toyota Leadership drives innovation 12 Nestlé While responsive organizational structures are important contributors, effective, capable 13 3M leadership is the single most important element in creating a culture of innovation. Leadership 14 Southwest Airlines clarifies strategies and customer needs; elicits 15 Exxon Mobil new insights from diverse, collaborative teams; and earns the focused effort and dedication 16 PepsiCo that innovation requires. 17 Siemens In short, leadership creates a climate in which innovation is the expected norm, not the 18 Shell miraculous exception. Such an environment is an elusive goal, but the Best Companies for 19 Dow Leadership provide examples that every business 20 FedEx can follow to encourage and support innovation. About Hay Group Leadership creates Hay Group is a global consulting firm that works with leaders to turn strategies into reality. We develop talent, organize people a climate in which innovation to be more effective and motivate them to perform at their best. Our focus is on is the expected norm making change happen and helping people and organizations realize their potential. We have over 2600 employees working in 85 offices in 48 countries. Our clients are from the private, public and not-for-profit sectors, across every major industry.©2012 Hay Group. All rights reserved