Peter Drucker Global Forums: Lessons Learned
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The document discusses key takeaways from the Global Drucker Forum held in Vienna between 2014 and 2016, emphasizing the importance of innovation as a critical driver of business growth and performance. It highlights challenges such as lengthy development times in innovation and the necessity of integrating employee engagement strategies in organizations to foster a productive work culture. Additionally, the document outlines the importance of collaboration between business, academia, and government to promote innovation and achieve sustainable economic growth.
Peter Drucker Global Forums: Lessons Learned
- 1. Global Drucker Forums Vienna, Austria 2014 - 2016 Key Takeaways — Implications for Management “Tell Me What You are Going to Do on Monday That’s Different”? November 22, 2016 Mark Beliczky The Carlyle Group Washington, DC/New York, NY
- 2. Hier Titel der Präsentation eingeben Favorite Viennese Talent Exports Dame Stephanie Shirley (1933 - ) Software start-up in the 60s in England Employed domestic part-time female employees Company Valued at $3BN 70 staff members became millionaires Peter Drucker: Father of Management Theory (1909 - 2005) Author of 39 books over a period of 60 years Writer, professor, management consultant and self-described “social ecologist” Annual Global Drucker Forum - Vienna Recipient of the US Presidential Medal of Freedom - Highest Civilian Award Maria Amalia Deutschmann (1888 - 1979) Governess/Educator: Budapest & Vienna Family Matriarch Global Mindset
- 3. Hier Titel der Präsentation eingeben Innovation “Creating Products and Services that Make Life Better” Companies typically spend only 5% of time & resources on innovation HBR, Sept. 2014 Innovation: formerly “less fashionable”, today more a business imperative “…Innovation has become the core driver of growth, performance and valuation.” McKinsey & Co.
- 4. Hier Titel der Präsentation eingeben 50 Smartest Companies 2016 MIT Technology Review:Top 10 Amazon (Seattle WA) $337BN valuation, Internet/Digital Media Baidu (Beijing, China) $55BN, Internet Search and Ad Sales Illumina (San Diego, CA) $20BN, World’s Largest DNA Sequencing Company Tesla Motors (Palo Alto, CA) $28BN, Transportation Aquino Energy (Pittsburgh, PA) $190MM capital raised, Batteries Mobileye (Jerusalem, Israel) $8BN, Computing and Communication 23andME (Mountainview, CA) $1.1BN, Biotech - DNA Sequencing Alphabet (Mountainview, CA) $491BN, Internet/Social Media Spark Therapeutics (Philadelphia, PA) $918MM, Genetic Disease Treatment Huawei (Shenzhen, China) Private, Computing/Communications/Mobile Devices
- 5. Hier Titel der Präsentation eingeben 10th Annual “50 Most Innovative Companies” Boston Consulting Group Top 5: Apple, Google, Tesla, Microsoft, Samsung 5 of Top 10 Non-Tech Toyota, BMW, Daimler rank in Top 10 75% of Top 50 Non-Tech: Japan’s FastRetailing, Disney, Marriott Chinese companies have not made inroads Top 50 Global: 29 US 11 Europe 10 Asia “Speed in Innovation” is on the Rise #1 Obstacle to Innovation — Overly Long Development Times
- 6. Hier Titel der Präsentation eingeben 4 Underpinnings of Innovation BCG 2015 Emphasis on Speed Well Run, Lean R&D Processes Use of Technological Platform Systematic Exploration of Adjacent Markets Dr. Christie Nordhielm, University of Michigan Nike example and industry model/benchmark for market expansion — golf
- 7. Hier Titel der Präsentation eingeben Leadership and Innovation McKinsey & Co. 70% of Leaders Say Innovation Will Be a Top 3 Driver of Growth in Next 3-5 Years 65% of Executives Were Somewhat/Little/Not at All Confident About the Decisions They Make About Innovation 94% Say That People and Corporate Cultures Are the Most Important Drivers of Innovation <50% Indicated That Innovation is Part of Their Strategic Planning Top 2 Motivators of Behavior to Promote Innovation Strong leaders who encourage and protect Top executives who spend their time actively managing and driving innovation
- 8. Hier Titel der Präsentation eingeben The Building Blocks of an Innovation Organization McKinsey & Co. Integrate Innovation into the Strategic Management Agenda Make Better Use of Existing & Untapped Talent for Innovation Foster an Innovation Culture Based on Trust People Understand their Ideas are Valued Trust that it is Safe to Express Ideas Oversee Risk Collectively
- 9. Hier Titel der Präsentation eingeben Steps to Advance InnovationMcKinsey & Co. Define the Kind of Innovation that Drives Growth and Helps to Meet Strategic Initiatives Add Innovation to the Formal Agenda at Regular Leadership Meetings Set Performance Metrics & Targets for Innovation
- 10. Hier Titel der Präsentation eingeben Global Innovation Index A Macro Global View Bloomberg 6 Tangible Activities that Can Contribute to Innovation R&D Manufacturing High Tech Companies Post Secondary Education Research Personnel Patents Top Countries S. Korea Japan Germany Finland Israel US Sweden Singapore France UK
- 11. Hier Titel der Präsentation eingeben
- 12. Hier Titel der Präsentation eingeben
- 13. Hier Titel der Präsentation eingeben Employee Engagement “Involved in, enthusiastic about, and committed to their work and workplace.” Gallup Global Employee Engagement Survey (2000-2015) “A highly engaged workforce means the difference between a company that outperforms its competitors and one that fails to grow.” Employee Engagement 2015: 13% Globally
- 14. Hier Titel der Präsentation eingeben Engaged Employees Rating of Workplace Elements Having an Opportunity to Do What They Do Best Every Day Having someone at Work Who Encourages Their Development Believing Their Opinions Count at Work “Engaged Employees are Involved in and Are Enthusiastic about and Committed to Their Work.” — 2015 Gallup Tracking Interviews
- 15. Hier Titel der Präsentation eingeben Disengaged Employees Who they are and what they do… Not Hostile or Disruptive Show Up and Kill Time Do the Minimum Required with Little Extra Effort to Go Out of Their Way for Customers Less Vigilant More Likely to Miss Work Change Jobs When New Opportunities Arise Thinking more about Lunch or Their Next Break
- 16. Hier Titel der Präsentation eingeben Ways to Improve Engagement Integrate Engagement into the Company’s Human Capital Strategy Use Scientifically Validated Instruments to Measure Understand Where the Company is Today and Where it Wants to Be Align Engagement With Other Workplace Priorities
- 17. Hier Titel der Präsentation eingeben Benefits of Improving Employee Engagement “Research Reveals — Engaged Employees Have 5X Higher Shareholder Returns After 5 years” (Business2Community) “Businesses with employee Engagement Scores Within the Top 25% Have 70% Fewer Safety Incidents Than Those in the Bottom 25%.” (2016 Gallup Meta-Analysis Study) “Companies with Engaged Workers Have 6% Higher Net Profit Margins.” (Towers Perrin)
- 18. Hier Titel der Präsentation eingeben Driving Convergence: Business, Academia and Government Resources, Experiences and Expertise to Share and Leverage… Business and/with Academia “They are like oil and water because they have different goals. Researchers are striving to find truth and somebody working in the company is striving to find profit. The researcher wants to disclose his/her findings to the wider world and the company does not necessarily want that.” Dr. Mark Ebers University of Cologne
- 19. Hier Titel der Präsentation eingeben Business/Academic Centers of Excellence Microsoft-Cisco-Intel - University of Melbourne Aalto University Formal Business Partnership Programs, Finland BP’s Energy BioSciences Institute - UC Berkeley Audi’s Ingolstadt Institute - TU Munich Karolinska Institute, Sweden California Institute for Telecommunications and Information Technology - UC San Diego, UC Irvine IBM - ETH Zurich SKM - Imperial College London GE Global Research - Munich Siemens - TU Berlin, MIT Nokia - Aalto University, UC Berkeley
- 20. Hier Titel der Präsentation eingeben Insights From The Science/Business Innovation Board Bringing Together Europe’s Leading Innovators, in Industry, Academia and Policy… “Where companies and universities work in tandem to push from tiers of knowledge they become a powerful engine for innovation and economic growth.” “…dense web of rich and long-running collaborations in the region have given rise to new technologies and a break neck pace and transformed industries while modernizing the role of the university.” “Today’s universities largely embrace a model of higher education developed over 100 years ago. A new vision should include producing the highly-skilled workforce for a globally competitive economy.”
- 21. Hier Titel der Präsentation eingeben Collective Future Vision for Business Education: AACSB International Dr. Santiago Iñiguez, Dean and Professor of Strategic Management at IE Business School, Board Chair od AACSB International 5 Main Roles for Business Schools in Society Going Forward Acting as Catalysts for Innovation Co-Creators of Knowledge Hubs of Life-Long Learning Leaders on Leadership Enablers of Global Prosperity
- 22. Hier Titel der Präsentation eingeben Closing the Research-Practice Gap: Evidence-Based Management (“EBM”) Managerial Decisions and Organizational Practices Informed by the Best Available Scientific Evidence Key Benefits of EBM Improved Managerial Decision Making/Outcomes Reduces the Use of Ineffective Management Practices Well-Informed Managers Developing Substantive Expertise Brings Together Scholars, Educators and Management Practitioners
- 23. Hier Titel der Präsentation eingeben Evidence-Based Management (“EBM”) Managerial Decisions and Organizational Practices Informed by the Best Available Scientific Evidence Business Students Often Give More Attention to Colorfully Written, Unsubstantiated Opinion Than to Less Vivid Research Evidence Management Field Lacks a Repository/Community Which Translates Evidence into its Implications Best Practice Examples: Medicine and Policing More and More Management Scholarly Research Includes “Practice Implications”
- 24. Hier Titel der Präsentation eingeben EBM Case Study Google: Project Oxygen Google Historical Belief of Manager Success: “Deep Technical Expertise” Bosses Left Their People Alone and They Helped Mainly with Technical Support Google Chose to Dig Deeper and Conduct Research Accumulated and Analyzed 10,000 Observations About Managers
- 25. Hier Titel der Präsentation eingeben Google: Project Oxygen Key Findings Behaviors of Highly Effective Managers (rank order) 1. Be a Good Coach 2. Empower Your Team and Don’t Micromanage 3. Express Interest in Team Members’ Success and Personal Well-Being 4. Don’t Be a Sissy: Be Productive and Results-Oriented 5. Be a Good Communicator and Listen to Your Team 6. Help Your Employees with Career Development 7. Have a Clear Vision and Strategy for the Team 8. Have Key Technical Skills
- 26. Hier Titel der Präsentation eingeben Google: Project Oxygen Key Findings Continued… Outcomes Early Adopters Led Top-Performing Teams Happier Employees Lower Employee Turnover Statistically Significant Improvement in Manager Quality for 75% of Worst Performing Managers CEO Alignment Speed Up Decision-Making Simplify Management Recapture Nimbleness and Innovative Spirit
- 27. Hier Titel der Präsentation eingeben Partnership Potentials of Business and Governments/Society Business Partnership Action (BPA) Hubs/Centers for Excellence — Bringing/Working Together Government Business Donors UN NGOs
- 28. Hier Titel der Präsentation eingeben UN Post 2015 Sustainable Development Goals 5 Action Areas: Business, NGOs, Government, UN and Communities Building Trust Across Sectors Open and Inclusive Planning & Development Create In-Country Multi-Stakeholder Platforms Partnership Best Practices Build Institutional Capacity for Partnering The Partnering Initiative: Dr. Darian Stibbe Supporting and Building Partnerships to Achieve Prosperous, Inclusive and Sustainable Business and Society
- 29. Hier Titel der Präsentation eingeben “What I Decided to Do Differently Monday Morning”
- 30. Hier Titel der Präsentation eingeben New and Emerging Drucker Forum 2016 Blockchain: 2nd Era of the Internet (Ethereum Platform) Distracted Management Struggle Stories vs. Achievement Stories: Do Not Have to Be a Genius Fix vs. Growth Mindsets: Dr. Carol Dweck
- 31. Hier Titel der Präsentation eingeben “Management is doing things right; leadership is doing the right things.” Peter Drucker Mark Beliczky The Carlyle Group markbeliczky@gmail.com 571-228-2341