Big Hairy Audacious Goal – BHAGExpansive Business Definition – “Make world a better place”, Organize “world’s” informationstirs up the passion of the employeesAttracts talents people from around the worldIn most companies there is no higher purpose than “making the quarter”, which is a paltry initiative to drive imagination
Be Bold!Setting the expectations to stake holders-Outside markets pressures too often tempt listed companies to sacrifice long term opportunities to meet quarterly market expectations. But we will not shy away from high-risk, high-reward projects because of short term earnings pressure. Some of our past bets have gone extraordinarily well, and others have not. Because we recognize the pursuit of such projects as the key to our long term success, we will continue to seek them out. Do not be surprised if we place bets in areas that seem very speculative or even strange when compared to our current businesses.
Place to hang out!Creating a highly engaging work environmentthat inspires employees to give the very best of themselves.Steve Jobs famously asked a Pepsi marketing executive -“Do you want to continue selling sugared water, or you want a chance to change the world?” Google isnt much different! It did indeed transform the world with its search engine.
Bozos attract Bozos. (Not Jeff Bezos) Create entry barriers. Stringent recruitment processEnsure that top management‘s hallowed beliefs don‘t straitjacket innovationFlexibility in resource allocationToo much management, too little freedomToo much hierarchy, too little communityToo much exhortation, too little purposeDon’t like being told what to do. And wont do something just because someone said it
Making innovation everyone‘s everyday job.Management innovation follows a power law: for every truly radical idea that forever changes the practice of management there are dozens that are less valuable and less influential. If you want innovation in your company then be ready to accept failuresRapid low-cost experimentationDiscomforting information isn‘t ignored or simply explained away as it moves up the hierachy!Freedom to expressMoMA – Google intranetSnippets of projects, conversations & accomplishments – make it easy to find resources
70% time on engineering tasks, 20% on extending the core and 10% on fringe ideas
Open, flat, malleable & non-hierarchialExperience comes with dogma. Challenging conventional wisdom is the cornerstone of innovationHuman beings love to connect, chat, brag, schmooze. Bringing those things to work only makes it more attractive
1.Open up the strategy process – make sure it isn‘t dominated by the old guardkeep the hierachy flat – don‘t insulate top management from the views of front-line employees who are in the best position to see the future comingencourage dissent.2.Make it easy for folks to experiment with new ideas – the give them time and minimize the number of approval levelsbuild a just try it culture – emphasize test and learn instead of plan and executecreate outsized rewards for individuals who up with game-changing ideas; don‘t truncate the business definition.3.Encourage people to work on out of scope projects – formalized with the 70-20-10 rulegive people the freedom to do market experiments so they can build a solid case for their ideas.
Management Innovation In Action<br />Aiming for an Evolutionary Advantage<br />@<br />Gary Hamel<br />
Management innovation is anything that substantially alters the way in which the work is carried out, or significantly modifies customary organizational forms, and, by doing so, advances organizational goals.<br />Gary Hamel<br />
Continuous communication</li></li></ul><li>Formula for Innovation <br />70 20 10<br />
Lessons<br />Internet is a best metaphor for <br />21st century management<br />Experienced managers may not be<br />the best innovators<br />Management innovations that humanize work are irresistible<br />