Reflections on Management Innovation (Dr. Gary Hamel)

Proven high performance is an indicator of future high performance. But it is only an indicator of the possibility, not a gurantee of sustained performance in the fast changing world order.

Recent lessons from the Wall Street would certainly make all management thinkers rethink their paradigms of high performance.The reality of the emerging world order is characterized by a lack of insulation. Nobody, no individual, organization or nation is insulated from the effects of changes in other parts of the system.

Twenty years ago, people in the countrysides of India or Brazil would not be discussing the showdown on Wall Street. But today many of them are talking about it. Not because they read about it in the newspaper, but because they feel the impact.

In the twentyfirst century organizations, models of excellence built over the last century and touted as success formulae during the last two decades will undergo fundamental changes. Gary Hamel says that value creation will be taken to the next peak level through management innovation, rather than through product innovation. The challenge before management becomes one of innovating and reinventing itself. Such reinvention would call for fundamental changes, rather than fine-tuning of existing paradigms.

I am impressed by the clarity with which Professor Gary Hamel shows that management is on the verge of dramatic changes. Follow this link http://discussionleader.harvardbusiness.org/hamel/ for direct inputs from Gary Hamel, including podcasts in his own voice.