MANAGING in the

NEW WORLD

While most aspire to reach top management positions, only few manage to do it, and some do it faster than others. Twenty-four years is the average time span needed since the first job to reach the CEO slot. The usual understanding is that CEOs must have done their MBA from some elite business school, followed by a top-notch campus placement from which they rise up the ladder, carefully avoiding slippery ropes along the way. Business research was conducted titled the ‘CEO Genome Project’ to gauge the reasons for success of the CEO “sprinters”, or those who reached the top quicker than the usual twenty-four-year span. Three instances seemed common to them, the first being that they all had stints at smaller companies. Another is that they made sudden upward jumps. So, they grasped the opportunities provided to them. Contrary to the usual narrative, most sprinted up because at some stage they inherited a broken team, and helped troubleshoot it out. The true leadership skills emerge from such situations.

Source:https://hbr.org/2018/01/the-fastest-path-to-the-ceo-job-according-to-a-10-year-study?utm_medium=email&utm_source=newsletter_weekly&utm_campaign=weeklyhotlist&referral=00202&spMailingID=18962244&spUserID=OTY0OTMwNTk5NwS2&spJobID=1200305500&spReportId=MTIwMDMwNTUwMAS2

Uploaded Date:17 February 2018

A major retail pharmacy recently dug into a research conducted to gauge the factors that lead to organizational effectiveness. Three major secrets have been uncovered. The first is about frontline workers being given increased levels of autonomy. This helps gauge authentic business intelligence as these are the people interacting with customers on a regular basis. This leads to increased levels of collaboration, positivity and interaction with the final customers. Customer ratings and individual attention paid naturally increases. Another successful tactic is to explain the significance of the everyday work to the team members. Neuroscience explains this method as a schema which are thought patterns that help shape experiences. Providing greater recognition and related rewards is a key tenet in talent management. The best of its practitioners have the pride-building style of work.

Source:https://www.strategy-business.com/article/00271?gko=d819d&sf181283161=1

Uploaded Date:14 February 2018

At a time in history, marked by stupendous advances in technology, a number of jobs and subsequent lifestyle is set to be altered by the year 2030. As per research done by management consulting giant McKinsey, about half of the present jobs can be automated. This is especially true for jobs on the junior levels. Around three-hundred and seventy-five million people will need to adopt newer patterns and make shifts in their occupational category. In about three-fifths of presently known occupations, a third of the tasks are expected to get automated. Certain jobs are fewest in fear of being disrupted by automation. This includes healthcare providers, IT specialists, educators especially in growing markets, builders, creative artists, manual labourers in unpredictable environments and professionals such as scientists, engineers, analysts and accountants. Ageing populations in developed countries will also give rise to occupational changes. Agriculture, manufacturing and mining are expected to suffer in terms of number of people they will now be able to employ. While a country like India could grow taking advantage of its demographic dividend, others like Japan could see it shrink. Fellow developing countries like China and Mexico will see greater automation than India due to higher average wage rates existing. Developed nations like USA and Germany though could see significant worker displacement.

Source:https://www.mckinsey.com/global-themes/future-of-organizations-and-work/what-the-future-of-work-will-mean-for-jobs-skills-and-wages

Uploaded Date:08 February 2018

A great business idea is only worth how well it is executed. To cite an example, Steve Jobs was greeted with a lot of skepticism upon launching the first iPhone back in 2007. Many thought its excess features would distract customers away from its main purpose of making phone calls. The rest as they say is history. Where Xerox could not see the potential of Alto, Jobs identified it and went ahead and developed his Macintosh. Another example is that of Fabio Rosati, who quit Capgemini’s highly lucrative management consulting vertical in 2001, to venture to a startup named Elance. The company’s vendor management services were facing stiff competition from giants such as Oracle and SAP. SO, he shifted the focus to managing freelance contracts. The platform specialized as a talent recruitment hub for all kinds of freelancers and after its merger with arch-rival O Desk, it took on the name Upwork, which today is the market leader. Jim Allisson too persevered before finally receiving funding for his idea from Medarex to make it big. Ideas will only get validation once executed going forward.

Source:http://innovationexcellence.com/blog/2017/12/04/heres-whats-wrong-with-your-great-idea/

Uploaded Date:06 February 2018

With university humanities courses going into decline, there is a serious need for a rethink on societal values. One of them being the high importance pinned on economics. The subject has several claims to glory, yet its practitioners are not covering themselves in similar glory now. Repeatedly have they failed to predict the market upheavals, yet they bear little humility. In a survey conducted by a team from the Northwestern University, it was deduced that while around three-fourths of sociologists and psychologists believe in inter-disciplinary engagement, barely two-fifths of economists think likewise. Literature in particular provides great insight into human behavior, which can be an ideal asset in ensuring the best of talent management practices. Unlike economics, in literature things do not get simplified just for the sake of it. If one considers the works of the likes of Leo Tolstoy, Jane Austen, Fyodor Dostoevsky, George Elliot and of course William Shakespeare, one can find layers of complicated personalities. Human beings do not always act rationally, something which economists assume, but was rejected by Adam Smith himself. Economists must learn from other fields such as literature, philosophy, psychology, sociology, anthropology, history and political science in order to develop more realistic models.

Source:http://knowledge.wharton.upenn.edu/article/could-a-bit-of-tolstoy-and-austen-improve-economic-forecasting/

Uploaded Date:06 February 2018

A lot of companies have been reducing their primary business research investments and instead outsourcing that task to universities, taking advantage of the latter’s often substantial intellectual assets and research infrastructure. Universities too have become more receptive in the wake of reducing government funds and federal grants. Some obstacles have been experienced such as regarding non-disclosure agreements and the potential for Intellectual Property (IP). But by and large, both sides want to forge long term, rather than transactional relationships. For this, some steps are required starting with locating the company’s R&D wing near talent centres such as major universities. Early stage research must be outsourced to universities and funded by these corporates. The entire institution must be engaged with, and not juts some talented individuals. Companies mustn’t stick to the usual big brands, but explore other options which could prove to be aces. The Non-Disclosure Agreements (NDAs) must be reinforced among both parties by focusing on aspects of interest to all. The patent licensing norms must be relatively flexible. Projects must be executed and finished in such a manner, that relationships exist where contracts could be resigned or extended with the same party in good faith. There is often a substantial cultural gap between MBA institutions and corporates. This needs to be sensitively handled to benefit both parties through a concept of societal engineering.

Source:https://hbr.org/2018/01/why-companies-and-universities-should-forge-long-term-collaborations?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert&referral=00563&spMailingID=18894202&spUserID=OTY0OTMwNTk5NwS2&spJobID=1181669277&spReportId=MTE4MTY2OTI3NwS2

Uploaded Date:06 February 2018

A report by the World Economic Forum (WEF) plays on the negativity that is following the large-scale introduction of robots and Artificial Intelligence aided tools into various workplaces. While it is true, that there are fears of jobs losses, the WEF says that robots must instead work together with human beings, with each building on the others’ strengths. Even a partner at McKinsey states that the interaction between humans and robots will be of great interest over the next fifteen odd years. To start off, collaborative robots known as ‘cobots’ have been deployed on factory flows. While robots do not tire off or get sick, they are not very adept at improvising as humans do. Instead reskilling corporate training programmes need to be imparted to existing employees, so that people can be taken off repetitive or dangerous tasks and instead focus on creative stuff. Marketing research firm Gartner states that AI backed tools will generate nearly three trillion dollars’ worth of economic growth over the coming years. This is further corroborated by PwC which feels likewise in impact terms. The top ten most in-demand skills are also set to change in 2020 as opposed to those of 2015.

Source:https://www.weforum.org/agenda/2018/01/machines-can’t-dream

Uploaded Date:06 February 2018

SKYLINE Knowledge Centre

Phone: 9971700059,9810877385
E-mail: info@skylinecollege.com
© 2017 SKYLINE. All right Reserved.