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With several companies and entire sectors, exploring the possibility of workforce automation, some blue prints have now emerged, that are universally successful. McKinsey, which is a leader in the management consulting space, has identified four such factors which help in acing the chain. One of them is to set higher targets, as this paves the path for capturing clear value. While aiming for higher rewards, one needs to start off with higher bets as well. Risks need to be managed likewise. The next step is to commit to a cause, and communicate likewise to all key stakeholders. To go about this, the right governance pattern needs to be established, so that the business on its own may drive up the change. The team needs to decide on key questions such as how much of centralization is to be accepted, or who takes up the accountability for the programme. And finally, the right internal capabilities need to be fronted. For this, whatever corporate training sessions are needed, must be executed.

Source:https://www.mckinsey.com/business-functions/operations/our-insights/four-success-factors-for-workforce-automation

Uploaded Date:27 December 2019

A new book published titled Organizations for People, written by Michael O’Malley along with Bill Baker, charts the twenty- one organizations considered as the best companies to work in. These were selected post extensive business research conducted by the writers. They also found out some common traits that such companies do, which set them apart form most of the rest. One such thing is that for them the people come first, so they start off by setting the right talent management systems across the organization, right from the outset. This also enables the employees to find their passions, to further pursue them. They also help bring the people together on a personal level. Special occasions are celebrated, as one way to do so. The list of companies that make it to the select twenty- one, includes the likes of Patagonia, N2 Publishing, Edmunds.com, The Motley Fool and INTUITIVE, besides others. These companies ace it, when it comes to encouraging their employees to own their work. Space is also created so that people can be themselves. Work ethics tend to stick at such places.

Source:https://hbr.org/2019/12/what-the-best-companies-to-work-for-do-differently?utm_medium=email&utm_source=newsletter_weekly&utm_campaign=weeklyhotlist_activesubs&utm_content=signinnudge&referral=00202&deliveryName=DM59604

Uploaded Date:27 December 2019

Workplace burnout has now been understood to be a key deterrent to a healthy lifestyle. A lot of individuals have gone through several remedies to check this fallout. However, beyond these ‘band- aid’ solutions, it needs to be understood that burnout is more an organizational failure, one that an individual is unlikely to be able to properly resolve. The classification of the term too has been complex, with even the WHO (World Health Organization) being unable to do much about it. There are also several hidden financial and emotional upheavals associated with this burnout. A study conducted by the marketing research firm Gallup, uncovered five major reasons that lead to such burnout. One of them is an unfair treatment at work, while another is excess workload. The third is ambiguity regarding work role, with a fourth being on poor communication or support system emanating from the senior position. Time pressure could be yet another of those issues. Frederick Herzberg’s Motivation- Hygiene Theory can be well applied to this situation.

Source:https://hbr.org/2019/12/burnout-is-about-your-workplace-not-your-people?utm_medium=email&utm_source=newsletter_weekly&utm_campaign=weeklyhotlist_activesubs&utm_content=signinnudge&referral=00202&deliveryName=DM59604

Uploaded Date:27 December 2019

Organizational change is here, and companies need to act on it, if they aren’t already. To do this, first of all, they need to demonstrate ground change programmes. Several corporate training modules are available that work towards organizational transformation. Change strategies too need to be decluttered from the traditional thought process of working around the law of averages. Instead, they must be worked around the particular nature of the challenge. No company need shy away from complexity or uncertainty in change management. The use of technology must aid in talent recruitment, that will hire personnel, who will help execute such change. Emerging areas of science need to be tapped in to as they are bound to enhance such change programmes.

Source:https://www.bcg.com/publications/2019/science-organizational-change.aspx

Uploaded Date:02 November 2019

Business research conducted by the Harvard Business Review (HBR) has brought forth what has been termed as the CEO Life Cycle. The first year is usually the Honeymoon, where minor mistakes may be made, but not punished, as one is simply learning the ropes of entrepreneurship. The second year may be described as the Sophomore Slump, due to the turbulences a business is bound to incur at this junction. The entrepreneur is a bit more experienced, so can no longer escape responsibilities for the crippling losses. The next few years are all about recovery. So, years 3 to 5, are typically termed as the Recovery, as now the business consolidates, and wins a loyal customer base. Next is the growth phase. Years 6 to 10 are known as the Complacency Trap. The years of hard work are paying off now, so it is natural for many to turn off and get too comfortable. Years 11 to 15 are the Golden Years. This is when the business really hits off. For those companies that are going to thrive in the long term, this golden run does not end on year fifteen, while others fall prey to the error band.

Source:https://hbr.org/2019/11/the-ceo-100-2019-edition#the-ceo-life-cycle

Uploaded Date:2 November 2019

A certain form of chaos awaits the final Brexit decision. A no- deal Brexit could spell doom for the UK economy, with delays at ports, and rising prices for essential supplies such as food and medicines. This also poses the risk of recession. In the UK, it is not common for company executives to enter the political fray, a long- established tradition on the other side of the Atlantic. A business research report titled the Edelman Trust Barometer, finds out that nearly two- thirds of those surveyed want the company CEO to be visibly taking the lead in change, Nearly four- fifths are also of the belief that the CEO must be transparent in sharing the company’s vision and corporate strategy. Thus, a new framework is needed for corporate activism. This matrix will include four quadrants. These are Forceful, Tempered, Pragmatic and Neutral.

Source:https://knowledge.insead.edu/blog/insead-blog/a-new-framework-for-corporate-activism-12556

Uploaded Date:24 October 2019

A lot of discussion has gone in to whether certain companies will survive the ongoing age of the platform economy. But more pertinently, companies need also assess whether there may be something to do with the industry itself. The credit to the likes of Uber, Airbnb, Facebook, You Tube and Amazon may go beyond merely the companies themselves, but also to the respective sectors. Platform transformations are best suited to industries where the expected output is precisely determined, regulations are lower and where spare capacities exist. It also depends whether a company derives value from the information it generates or its physical assets. If it is the former, then data warehousing can be an important source of revenue, beyond the mere services provided. Another matter of divergence is the mode of transaction. Platforms thrive when the payment method is simple and modular, rather than when complex and interdependent. Platforms also rely information asymmetry in the concerned market.

Source:https://mitsloan.mit.edu/ideas-made-to-matter/how-to-tell-if-your-industry-ready-platform-transformation

Uploaded Date:18 October 2019

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