HR guru throws lifebelt to business

first_imgThefuture driver of business success is entrepreneurship, not the traditionalfocus on increasing market share and making business efficiencies.Thiswas the view of senior HR professionals at the USHR Forum on board the QE2,outside New York. They want to develop workforces capable of generating bigideas.ProfessorGary Hamel, the corporate strategist and author, warned 400 of America’s top HRexecutives last week that it is not enough to work harder or make theircompanies more efficient. The solution is to learn how to be profoundlydifferent by being innovative and revolutionary.Intangibleassets such as innovation, organisational culture and strategic capabilitiesnow acc-ount for as much as 85 per cent of stockmarket value for many US firms,he said. Those companies striving for continuous improvements and greaterefficiency – as opposed to the next big idea – are doing less well instockmarket terms.Hamelurged delegates to challenge old beliefs and “think outside the box”.Oilgiant Shell and home appliance manufacturer Whirlpool are pioneering thisapproach by building internal markets in which staff are encouraged to test outnew projects.”Thefuture is about differentiation, and size is no longer a defining issue,”he said.”Capturenew wealth by being innovative and ask yourself if the voice of imagination isas loud as the voice of experience.    “Marketshare is dead. It is no longer about best practice. If you want to increaseyour share of wealth you’re going to have to reboot and rethink your strategyat a quicker pace.”Hamelspoke of three new types of capital – intellectual, structural and financial –and claimed that HR is at the centre of all three. Hewarned that many companies are threatened by their traditional ways of doingbusiness.ByJane KingWordsof wisdom on innovation–Strengthen the muscle of employees to innovate–Encourage workers to violate deeply-held beliefs–Cultivate the mind of a heretic–Teach people to be novelty addicts – put them in situations where the future ishappening–Be where the next generation of customers is and know them well–Assume everyone is responsible for radical thinking, not just those at the top–Encourage internal markets for employees to develop new projects–Invest in teaching people to be corporate activists HR guru throws lifebelt to businessOn 22 May 2001 in Personnel Today Related posts:No related photos. Comments are closed. Previous Article Next Articlelast_img read more