Innovation in a cost conscious reality
How do you ensure that your organisation in a cost conscious context is still open to embrace and support Innovation? I observe that with Covid-19 (but also before) organisation are focussing (often for the wrong reasons) on their core and stay away from innovation using ‘cost savings’ as an excuse to kill new ideas. Which is a bit of a paradox as innovation could create much needed new revenue streams and allow employees to co-build the future of the company in a ‘next reality’.
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Most of us know monopolies are bad. “They have no incentive to deliver better products or to get more efficient.” And if a monopoly can do whatever it likes, the victim is likely to be the customer. If it exists outside an organization, measures can be taken to end that. Within organizations, creating monopolies seems standard practice, but why!?
“It was like being with a parent that didn’t really want us”, says CEO of GE Appliances, Kevin Nolan. He explained: “The one hope everyone had was that Haier bought us because they wanted us, and we were curious to find out what that would mean”. 4 years later, we visited to find out how GEA was doing. Getting to talk to them was harder than we thought: “Our managers and executives are currently working on the assembly lines.” They are doing what!?
There are many examples of self-management on the Corporate Rebels Bucket List, all of which have very few layers of management, if any, and they are mostly highly successful. So this raises the question “If this is such a good way of organising work, why isn’t everyone doing it?”.