Attended a talk this evening at the London Business School by Julian Birkinshaw about the Management Innovation Lab, aka the M-Lab.
Here is a group focused on innovating around management - examining current models of management and creating more effective working environments. So, what’s the secret?
To make matters more challenging, there is no play-book, no set of golden rules for management innovation. But, the research found that there are several vital ingredients that always come together when management innovation happens.
These are:
- A distinctive and novel point of view on the future
- A clearly-articulated problem or challenge that needs resolving
- A core group of heretical thinkers and action takers who push the new idea through the organisation
- A deep understanding of the traditional orthodoxies that need to be overcome
The exciting bit is that in a world of intense competition, companies are learning that focusing solely on financial success is not the best way to higher profits. Instead, companies generally earn more by focusing on value to the customers, and creating more fulling work environments where employees have more responsibility and empowerment in deciding how to achieve their objectives.