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Innovation and sustainability:
Secrets of success
10 November 2012
World most admired companies in 2012
         Source: Fortune/Hay Group
                        Most admired                         Most innovative in sector

                                  1           Apple                     1
                                  2          Google                     2
                                  3        Amazon.com                   1
                                  4         Coca-Cola                   1
                                  5            IBM                      1
                                  6           Fedex                     1
                                  7     Berkshire Hathaway              1

                                  8         Starbucks                   1
                                  9      Procter & Gamble               2

                                 10     Southwest Airlines              5

                                 14           BMW                       1
                                 15      General Electric               3
                                 23     Singapore Airlines              1


© 2012 Hay Group. All rights reserved                                                    2
Break-through ideas are often not
                 the problem – leadership and
               deployment or execution are the
                            issues




© 2012 Hay Group. All rights reserved              3
Different types of innovation



                                                        New-to-consumer products
                                                and services that do not currently exist
                                        New products and services
                 for existing customers and new customers

     Changes to existing products,
          services and processes
          including cost reduction efforts




© 2012 Hay Group. All rights reserved                                                      4
Setting the stage for innovation


                BCLs allow people to innovate smartly
                                  100         94
                                                                             90                          90
                                   90
        Per cent of respondents




                                   80
                                   70
                                   60                                                                               53          Top 20
                                                          49                            47
                                   50                                                                                           All others
                                   40
                                   30
                                   20
                                   10
                                    0
                                            My company runs              Employees spend much       Leaders are effective at
                                        unprofitable projects to try   time discussing customers' helping frontline employees
                                                new things                     future needs        understand our long-term
                                                                                                            strategy


                 Source: Hay Group 2011 Best Companies for Leadership study


© 2012 Hay Group. All rights reserved                                                                                                        5
Broader perspectives – creating room for
                   new ideas to be heard

                The BCLs expand the pool, casting a wide net for
                ideas
                                            100                       100
                                  100
                                                                                                90                        90
                                   90
        Per cent of respondents




                                   80
                                                       66                       68
                                   70                                                                     63                         62
                                   60
                                   50                                                                                                           Top 20
                                   40                                                                                                           All others
                                   30
                                   20
                                   10
                                    0
                                          To solve problems,       My company provides     If you have an excellent    Ideas that come from
                                        leaders gather points of structured opportunities idea you may bypass the     subsidiary leaders are
                                           view from multiple    for younger employees to chain of command with          just as likely to be
                                              perspectives       promote innovative ideas         no negative         implemented as those
                                                                                                 consequences            from headquarters


                 Source: Hay Group 2011 Best Companies for Leadership study


© 2012 Hay Group. All rights reserved                                                                                                                        6
Broader perspectives – ensure difference
                   is valued


                BCLs actively ensure cultural breadth and flexibility
                                  100        95                         95                        95
                                   90                                                                                       85
                                   80
        Per cent of respondents




                                   70
                                                                                  61                        61
                                   60                  51                                                                                         Top 20
                                   50                                                                                                             All others
                                                                                                                                      39
                                   40
                                   30
                                   20
                                   10
                                    0
                                         Balanced mix of local       Leaders are culturally An appreciation of global Company recruits cultural
                                        and international talent   savvy and have the skills    issues is a key job         minorities
                                          in senior leadership      to work effectively with   requirement in this
                                                positions               diverse teams              organization


                 Source: Hay Group 2011 Best Companies for Leadership study


© 2012 Hay Group. All rights reserved                                                                                                                          7
“The basic problem confronting an
               organisation is to engage in
           sufficient exploitation to ensure its
            current viability and, at the same
             time, devote enough energy to
             exploration to ensure its future
                     viability” (Mach)

© 2012 Hay Group. All rights reserved              8
“If I have listened to customers, I
                will be providing them with faster
                       horses” (Henry Ford)




© 2012 Hay Group. All rights reserved                 9
Being large and successful at one point
         in time is no guarantee of continued
         survival:
         - life expectancy of firms in S&P 500:
              1935: 90 years
              1975: 30 years
              2005: 15 years
              (Foster and Kaplan)
© 2012 Hay Group. All rights reserved              10
“It is not the strongest of the species that
         survive, nor the most intelligent, but the
         one that is most responsive to change”
                      (Charles Darwin)




© 2012 Hay Group. All rights reserved                  11
n  Leaders embrace both “exploitation” and
             “exploration”
         n  Articulate a strategic vision

         n  Top team combines both, works together, and has
             dynamic capabilities
         n  Values, structures, processes to support

         n  Open eco-system

         n  Learning organisation




© 2012 Hay Group. All rights reserved                          12
Ambidextrous organisations


                                        Janus is a Roman god: he
                                        had two sets of eyes, one
                                        pair focusing on what lay
                                        behind, and the other on
                                        what lay ahead




© 2012 Hay Group. All rights reserved                               13

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Secrets of success to innovation and sustainability

  • 1. Innovation and sustainability: Secrets of success 10 November 2012
  • 2. World most admired companies in 2012 Source: Fortune/Hay Group Most admired Most innovative in sector 1 Apple 1 2 Google 2 3 Amazon.com 1 4 Coca-Cola 1 5 IBM 1 6 Fedex 1 7 Berkshire Hathaway 1 8 Starbucks 1 9 Procter & Gamble 2 10 Southwest Airlines 5 14 BMW 1 15 General Electric 3 23 Singapore Airlines 1 © 2012 Hay Group. All rights reserved 2
  • 3. Break-through ideas are often not the problem – leadership and deployment or execution are the issues © 2012 Hay Group. All rights reserved 3
  • 4. Different types of innovation New-to-consumer products and services that do not currently exist New products and services for existing customers and new customers Changes to existing products, services and processes including cost reduction efforts © 2012 Hay Group. All rights reserved 4
  • 5. Setting the stage for innovation BCLs allow people to innovate smartly 100 94 90 90 90 Per cent of respondents 80 70 60 53 Top 20 49 47 50 All others 40 30 20 10 0 My company runs Employees spend much Leaders are effective at unprofitable projects to try time discussing customers' helping frontline employees new things future needs understand our long-term strategy Source: Hay Group 2011 Best Companies for Leadership study © 2012 Hay Group. All rights reserved 5
  • 6. Broader perspectives – creating room for new ideas to be heard The BCLs expand the pool, casting a wide net for ideas 100 100 100 90 90 90 Per cent of respondents 80 66 68 70 63 62 60 50 Top 20 40 All others 30 20 10 0 To solve problems, My company provides If you have an excellent Ideas that come from leaders gather points of structured opportunities idea you may bypass the subsidiary leaders are view from multiple for younger employees to chain of command with just as likely to be perspectives promote innovative ideas no negative implemented as those consequences from headquarters Source: Hay Group 2011 Best Companies for Leadership study © 2012 Hay Group. All rights reserved 6
  • 7. Broader perspectives – ensure difference is valued BCLs actively ensure cultural breadth and flexibility 100 95 95 95 90 85 80 Per cent of respondents 70 61 61 60 51 Top 20 50 All others 39 40 30 20 10 0 Balanced mix of local Leaders are culturally An appreciation of global Company recruits cultural and international talent savvy and have the skills issues is a key job minorities in senior leadership to work effectively with requirement in this positions diverse teams organization Source: Hay Group 2011 Best Companies for Leadership study © 2012 Hay Group. All rights reserved 7
  • 8. “The basic problem confronting an organisation is to engage in sufficient exploitation to ensure its current viability and, at the same time, devote enough energy to exploration to ensure its future viability” (Mach) © 2012 Hay Group. All rights reserved 8
  • 9. “If I have listened to customers, I will be providing them with faster horses” (Henry Ford) © 2012 Hay Group. All rights reserved 9
  • 10. Being large and successful at one point in time is no guarantee of continued survival: - life expectancy of firms in S&P 500: 1935: 90 years 1975: 30 years 2005: 15 years (Foster and Kaplan) © 2012 Hay Group. All rights reserved 10
  • 11. “It is not the strongest of the species that survive, nor the most intelligent, but the one that is most responsive to change” (Charles Darwin) © 2012 Hay Group. All rights reserved 11
  • 12. n  Leaders embrace both “exploitation” and “exploration” n  Articulate a strategic vision n  Top team combines both, works together, and has dynamic capabilities n  Values, structures, processes to support n  Open eco-system n  Learning organisation © 2012 Hay Group. All rights reserved 12
  • 13. Ambidextrous organisations Janus is a Roman god: he had two sets of eyes, one pair focusing on what lay behind, and the other on what lay ahead © 2012 Hay Group. All rights reserved 13