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Saturday, November 17, 2012

What Matters Now: Post #2--Five Elements of Survival

Hamel  lays out five key areas where companies must challenge previous assumptions to ensure future survival:
1.    Values: With all that has happened in business regarding shifting values and standards, Hamel calls for a “moral renaissance” in business.
2.    Innovation: Global competition, the Internet, and consumer accessibility to products have all put competition on steroids! Without constant and fundamental innovation embedded in our corporate DNA, success will be as fleeting as yesterday’s news. Hamel emphasizes that innovation is everyone’s job, not something delegated to a few lofty corporate leaders in the company.
3.    Adaptability: We’re all familiar with the evolutionary mantra, “adapt or die.” It’s as true today as at any time in our history. With hyper-accelerated change, any company [or individual] that can’t innovate and adjust to the strong winds of change will get blown away.
4.    Passion: It’s hard to change and adapt without deep passion. Consequently, things become mediocre and finally fall prey to innovative competitors. Unfortunately, many companies are geared to perform the same task over and over, ever more efficiently. It takes passion to ask “Can we do something else?” 
5.    Ideology: Businesses need not only better, more innovative practices but also better principles—a coherent ideology. Bureaucracies have long held sway, with central control, regulations, and top-down leadership. This model is DEAD! Hamel offers a clear vision of the future of management with in-depth discussions about such new-model leaders as W.L Gore, Morning Star, and HCLT.

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