4. hbr 2004 april

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Tenacious Women…page 50 Audacious Change…page 84 www.hbr.org April 2004 62 Hardball: Five Killer Strategies for Trouncing the Competition George Stalk, Jr., and Rob Lachenauer 74 The Ambidextrous Organization Charles A. O’Reilly III and Michael L. Tushman 84 Deep Change: How Operational Innovation Can Transform Your Company Michael Hammer 96 When to Walk Away from a Deal Geoffrey Cullinan, Jean-Marc Le Roux, and Rolf-Magnus Weddigen 106 Bringing the Market Inside Thomas W. Malone 18 Forethought 37 HBR Case Study Losing It Play toWin …page 62 Diane L. Coutu 50 Managing Yourself Do Women Lack Ambition? Anna Fels 116 Best Practice How Fleet Bank Fought Employee Flight Haig R. Nalbantian and Anne Szostak 127 Tool Kit Take Command of Your Growth Michael Treacy and Jim Sims 138 Executive Summaries 144 Panel Discussion © 2004 United Air Lines, Inc. All Rights Reserved. Everyone dreams. Some people are just more active participants. united.com Inspire, Lead, Inn Order online at www.harvardbusinessonline.org From HBS Press NOW IN PAPERBACK! Primal Leadership Learning to Lead with Emotional Intelligence Daniel Goleman, Richard Boyatzis, and Annie McKee “Primal Leadership. . . reassesses what makes a great leader.” —Time New York Times and Wall Street Journal National Bestseller 2004/336 PP/PRODUCT #1849/$14.95/PAPERBACK Strategy Maps Converting Intangible Assets into Tangible Outcomes Robert S. Kaplan and David P. Norton From the bestselling authors of The Balanced Scorecard, Strategy Maps is a blueprint any organization can follow to align processes, people, and information technology for superior performance. 2003/480 PP/PRODUCT #1342/$35.00 The Strategy Map Starter Kit A Multimedia Toolkit for Firing Up Your Organization and Putting Strategy Maps to Work The perfect companion to the Strategy Maps book, this multimedia toolkit will help you make the case for mapping strategy in your organization and achieve results. To learn more, visit: www.bscol.com/hbsp The Doing Business Effectively Collection This collection will teach new and experienced managers alike to plan, lead, and innovate for results. It includes four Harvard Business Essentials paperback guides—all at a savings of more than 10% off the regular prices. 4 VOLUME SET PRODUCT #6093BN/$76.00 PAPERBACKS Harvard Business School Publishing ovate Harvard Business School Publishing Specialty Collections From Audio Conferences Honesty is the Best Strategy This HBR OnPoint collection offers three related routes to creating a culture of honesty—and capturing the vital information you need to translate strategic promise into reality. PRODUCT #5917/$16.95 Finding Growth Through New-Market Disruption Strategies In this 90-minute presentation, Clayton Christensen, author of The Innovator’s Dilemma, walks you and your team through the steps to find new-market growth opportunities for your business. 2003/PRODUCT #533XCD 90 MINUTE CD-ROM/$129 The Results-Driven Manager Set Managers are under increasing pressure to deliver better results faster than the competition. These timely guides help managers improve their performance today and give them the edge they need—all at a savings of 10% off the regular prices. 5 VOLUME SET PRODUCT #6182BN/$67.00/PAPERBACKS Achieving Strategic Alignment: Moving from Promise to Performance Robert Kaplan and David Norton, co-authors of The Balanced Scorecard, conduct an interactive discussion that identifies the practical, concrete steps that any organization can take to become truly strategy focused. 2003/PRODUCT #4066CD 90 MINUTE CD-ROM/$129 The Capacity to Lead: What Makes a Durable Leader The Business Fundamentals Series Collection Built on recent “background notes” written by Harvard Business School professors for their MBA and Executive Education courses, this series provides the basic skills that every manager needs—at a savings of over 20%. Warren Bennis and Robert Thomas, co-authors of the bestseller Geeks & Geezers, explore the necessary steps organizations must take to identify, develop, and deploy successful leaders. 2003/PRODUCT #3302CD 90 MINUTE CD-ROM/$129 14 VOLUME SET/PRODUCT #1652BN/$389 www.harvardbusinessonline.org or call 800-668-6780 • Outside the U.S. and Canada: 617-783-7450 HBR 62 Features 106 April 2004 62 Hardball: Five Killer Strategies for Trouncing the Competition George Stalk, Jr., and Rob Lachenauer 84 Business has gone soft? It’s high time for companies to cut the whining about culture and empowerment, warm up the old pitching arm, and start throwing the hard stuff that’ll make competitors sweat. 74 The Ambidextrous Organization Charles A. O’Reilly III and Michael L. Tushman Big companies can’t pioneer radical innovations – that’s what some experts say. But a handful of smart companies are proving them wrong. 84 Deep Change: How Operational Innovation Can Transform Your Company Michael Hammer 96 When to Walk Away from a Deal Geoffrey Cullinan, Jean-Marc Le Roux, and Rolf-Magnus Weddigen Operational innovations fuel extraordinary results – they can destroy competitors and shake up entire industries. So why aren’t more companies taking advantage of their power? Call it deal fever: a highly infectious syndrome that makes companies blind to the perils of an acquisition. A few simple but strict rules can keep your mind clear – and your bottom line healthy – when the urge to merge appears. 106 Bringing the Market Inside Thomas W. Malone The virtues of markets – efficiency, flexibility, motivation – are hard to recreate in the hierarchical confines of a company. Now, however, technology has made it possible to have much broader internal markets, involving people at all levels of the organization. continued on page 8 COVER ART: MICHAEL MILLER 74 96 6 harvard business review © 2003 Accenture. All rights reserved. When faced with new questions, do you reply with old answers, or new ones? Go on. Be a Tiger. There are times when the best shot at success isn’t the most obvious. To see how we can harness the power of innovation to help you become a high-performance business, visit accenture.com • Consulting • Technology • Outsourcing HBR D e pa r t m e n t s April 2004 10 FROM THE EDITOR 94 S T R AT E G I C H U M O R 116 BEST PRACTICE Winning Attitudes Your employees feel empowered, your customers are happy, your rivals respect you – no wonder you’re losing ground. 20 How Fleet Bank Fought Employee Flight Haig R. Nalbantian and Anne Szostak FORETHOUGHT 18 When Good Guanxi Turns Bad 20 Winning the Greenhouse Gas Game 22 A Network of Invention 24 Mining Gold in Not-for-Profit Brands 26 Give Me That Real-Time Information 28 Books in Brief 29 Many companies think the way to retain employees is to offer them substantial pay increases. Not Fleet Bank, which found, upon deeper investigation, that employees cared more about career opportunities than they did about pay. 37 Michael Treacy and Jim Sims Chances are your company is perched atop potential revenue you can’t see. A new tool can show you where it is and how you can capture it. 2 0 0 3 M C K I N S E Y AWA R D S HBR CASE STUDY TOOL KIT Take Command of Your Growth HBR announces the winners of the 2003 McKinsey Awards. 37 127 134 LETTERS TO THE EDITOR There may (or may not) be only one number you need to grow, but is growth the only goal? 50 Losing It Diane L. Coutu Katharina Waldburg, a star performer at Pierce and Company, seems to be having an emotional breakdown. She’s sending rambling, incoherent e-mails and having inappropriate, unpredictable exchanges with colleagues. What can – or should – the company do to help her? 50 MANAGING YOURSELF 138 EXECUTIVE SUMMARIES 144 PA N E L D I S C U S S I O N Side Defects Don Moyer 116 Do Women Lack Ambition? Sometimes side effects yield penicillin; other times they yield drug-resistant viruses. Why is it so hard for companies to anticipate and prepare for unexpected results? Anna Fels Everyone dreams big and hopes high, and everyone reevaluates those dreams in the cold light of day. But women, more than men, not only reconsider but also abandon their ambitions. Why’s that? And what can be done about it? 127 8 harvard business review FROM THE EDITOR Winning Attitudes o T.S. Eliot, April was the cruelest month. April delivers its unkindest cut to Bostonians; in this month, the baseball season begins. Could the epic agony of the Red Sox, who haven’t won a World Series since 1918, have motivated George Stalk and Rob Lachenauer to write this month’s leadoff article, “Hardball: Five Killer Strategies for Trouncing the Competition”? After all, Stalk and Lachenauer work for the Boston Consulting Group (though Stalk is based in Toronto). Stalk shares a first name with one George Herman Ruth. And he knows what it takes to win. You don’t have to know baseball to grasp the difference between hardball and softball. In “Hardball,” Stalk and Lachenauer argue – forcefully – that many businesses aren’t tough enough on their competition. To borrow an image from another sport, companies pull their punches. They harvest the fruit of a healthy corporate culture and tend to their customers with solicitous care. Good things to do! But no substitute for, and not incompatible with, playing hardball – a game where you don’t shy away from devastating your competitors’ profit sanctuaries, or from proudly (provided it’s legally) stealing your rivals’ best ideas, or from employing massive and overwhelming force until your adversary cedes the field to you. It’s not the first time Stalk has exhorted HBR’s readers to compete more vigorously: His 1988 McKinsey Award–winning article “Time – The Next Source of Competitive Advantage”introduced executives to a whole new kind of competition. Hardball sounds like rough stuff, and it is. But it’s also the best way to instill spirit in your workforce and reignite the sheer fun of being in business. Southwest Airlines, for example, is a famously hardball competitor – just ask any of its rivals – and a famously terrific place to work. The airline once ran an advertisement that said,“We came. We saw. We kicked tail.” In the spirit of that ad, let me propose that this is, if you’ll forgive the expression, a kick-ass issue of HBR. Michael Hammer is back with a powerful new piece,“Deep Change: How Operational Innovation Can Transform Your Company.” (Hammer is the author of another famous HBR article, “Reengineering Work: Don’t Automate, Obliterate.”) Hammer takes a swing at an important question: Why is profound operational innovation so rare? Continuous, incremental improvements to operations happen, well, 10 continuously. But operational innovation–the kind of change that shifts the economics of an industry and creates a competitive advantage that resists erosion for years–is still so uncommon you can name practically all the companies that have done it recently: Dell, Wal-Mart, FedEx, a handful of others. Hammer describes what operational innovation looks like, then expertly probes the obstacles – psychological, structural, even administrative – that stand between business as usual and the kind of deep-down change that allows businesses to win year after year. Speaking of winning, don’t miss Anna Fels’s “Do Women Lack Ambition?”Fels, a New York psychiatrist, probes one of the troubling mysteries of gender. Young boys and girls are equally and delightfully unbounded in their ambitions – to be president, an astronaut, a star athlete, a surgeon. But as they age, women are more likely than men to abandon their dreams. These days, that renunciation most often occurs when a woman reaches her late twenties, when she ought to be well launched in her career. Why does it happen? Fels’s article looks at how ambitions are formed, tested, and then reaffirmed or abandoned. It contains important lessons for women and their colleagues male and female. This month, HBR celebrates several winners of its own. Every year, a panel of extraordinarily accomplished judges picks what it considers to be the best articles published in HBR. Please visit page 29 to read about the latest winners of the McKinsey Award –“AIDS Is Your Business”by Sydney Rosen, Jonathon Simon, Jeffrey R. Vincent, William MacLeod, Matthew Fox, and Donald M. Thea; and “The Harder They Fall” by Roderick M. Kramer. Past McKinsey honorees include Peter Drucker on organizational design, Henry Mintzberg on the work of the manager, Michael Porter on competition and strategy, Felice Schwartz on women executives, and, as I noted earlier, George Stalk on speed. It’s a pleasure to welcome this year’s winners into such distinguished company. ROBERT MEGANCK T Thomas A. Stewart harvard business review editor Thomas A. Stewart deputy editor Karen Dillon executive editor Sarah Cliffe art director Judi Tomlinson STANFORD GRADUATE SCHOOL OF BUSINESS EXECUTIVE EDUCATION 2004 LEADERSHIP AND STRATEGY PROGRAMS Corporate Governance June 1 – 4 Executive Program in Leadership: The Effective Use of Power July 11 – 16 Executive Program in Strategy and Organization July 18 – 30 Mergers and Acquisitions August 15 – 20 Strategic Marketing Management August 15 – 25 Human Resource Executive Program: Leveraging Human Resources for Competitive Advantage September 19 – 24 Leading Change and Organizational Renewal October 31 – November 5 CHANGE LIVES, CHANGE O RGANIZATIONS, CHANGE THE senior editors Leigh Buchanan David Champion Diane L. Coutu Bronwyn Fryer Ben Gerson Paul Hemp Julia Kirby Gardiner Morse Ellen Peebles Anand P. Raman senior production manager Dana Lissy associate art director Karen Player associate production manager Christine Wilder associate editor Eileen Roche senior designers Aimee Bida Jill Manca consulting editor Louise O’Brien production coordinator Josette AkreshGonzales manuscript design/production editors coordinator Christina Bortz Heather Barrett Lisa Burrell Roberta A. Fusaro communications manager Margaret K. Hanshaw Cathy Olofson Andrew O’Connell Andrea Ovans editorial coordinators editor for Kassandra Duane business development Andrew Gray John T. Landry contributing staff executive editor and director Amy L. Halliday of derivative Amy N. Monaghan products Suki Sporer Jane Heifetz editor-at-large, harvard business school publishing Walter Kiechel a note to readers WORLD www.gsb.stanford.edu/exed 866.542.2205 (toll free, U.S. and Canada only) or 650.723 .3341 Stanford, California The views expressed in articles are the authors’ and not necessarily those of Harvard Business Review, Harvard Business School, or Harvard University. Authors may have consulting or other business relationships with the companies they discuss. submissions We encourage prospective authors to follow HBR’s “Guidelines for Authors” before submitting manuscripts. To obtain a copy, please go to our Web site at www.hbr.org; write to The Editor, Harvard Business Review, 60 Harvard Way, Boston, MA 02163; or send e-mail to hbr_editorial@hbsp.harvard.edu. Unsolicited manuscripts will be returned only if accompanied by a self-addressed stamped envelope. editorial offices CHOOSE STANFORD EXECUTIVE EDUCATION FOR PROGRAMS IN: General Management Financial Management Leadership and Strategy Marketing Negotiation Technology and Operations Nonprofit and Philanthropy Custom Programs 60 Harvard Way, Boston, MA 02163 617-783-7410; fax: 617-783-7493 www.harvardbusinessonline.org Volume 82, Number 4 April 2004 Printed in the U.S.A. n io , at ide c u w Ed ld e or 03 v i W 0 ut r –2 ec vide 00 x E r o 20 P publisher Cathryn Cronin Cranston circulation fulfillment manager Heather McCormick 1 # direct marketing manager Bruce W. Rhodes manager, marketing and operations Marisa Maurer senior business analyst Adrienne M. Spelker advertising production manager Catharine-Mary Donovan Learning that Powers Performance® business director Edward D. Crowley assistant subscriber services manager Elizabeth Sottile assistant advertising manager Ashley C. Hartmann worldwide advertising offices advertising director – worldwide Trish Henry 212-872-9283 Columbia Executive Education We set the global standard for success—for individuals and organizations. Cutting-edge program designs and an active learning approach create a results-oriented environment unmatched in the world. Our commitment to our clients’ needs has helped us to achieve the in executive education for #1 ranking four consecutive years (Financial Times, 2000–2003). We give you the ideas and tools you need to power your performance. UPCOMING COURSES Marketing Management: Strategies, Processes and Tools [April 25–30] Creating Breakthrough Strategy [June 6–11] Leading Strategic Growth and Change [May 2–7] High Impact Leadership (formerly known as Leading and Managing People) [June 6–11] Executive Development Program: The Transition to General Management [May 2–14] Fundamentals of Management: Highlights of an MBA [June 13–25] Negotiation and Decision-Making Strategies [May 11–13] The Columbia Senior Executive Program [June 27–July 23] New York Maria A. Beacom Michael J. Carroll James H. Patten 509 Madison Ave. 15th Floor New York, NY 10022 212-872-9280; fax: 212-838-9659 Atlanta Boston Chicago Dallas Detroit Los Angeles San Francisco Australia Beijing France Hong Kong India Japan Korea Malaysia Singapore Sweden Taiwan United Kingdom 404-256-3800 978-287-5400 312-575-1100 214-521-6116 248-524-9000 310-207-4399 415-986-7762 612-9954-3288 86-10-6401-9190 33-01-4643-1630 852-2516-1001 912-2204-8890 81-3-3479-6131 82-2-3702-1790 603-7729-6923 65-6-836-2272 46-8-541-318-37 886-2-2364-9108 44-20-7586-2224 For advertising contact information, please visit our Web site at www.hbradsales.com. subscription service information u.s. and canada 800-274-3214; fax: 641-842-6101 Rates per year: U.S., $118; Canada, u.s.$128 international 44-1858-438868; fax: 44-1858-468969 Rates per year: u.s.$165; Mexico, u.s.$128 subscribe online www.hbr.org reproduction W W W. G S B . C O L U M B I A . E D U / E X E C E D 800-692-3932 | 212-854-3395 Copyright © 2004 Harvard Business School Publishing Corporation. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without written permission. New York Institute of Technology’s fiber optic network the most of it, NYIT graduated to Xerox multi- Learn more: www.xerox.com/learn For a sales rep: 1- 800 -ASK-XEROX ext. LEARN © 2003 XEROX CORPORATION. All rights reserved. XEROX,® The Document Company® and There’s a new way to look at it are trademarks of XEROX CORPORATION. is one of the fastest on the East Coast. To make function technology. There’s a new way to look at it. F o r e t h o u g h t idea When Good Guanxi Turns Bad In China, relationships come first. That’s a problem if your front line gets too cozy with competitors. by Wilfried R. Vanhonacker It would be naive to think – as many Western executives do – that the more guanxi you have on the front lines in China, the better. Guanxi, or personal connection, is powerful stuff, and it can divide the loyalties of the sales and procurement people your company depends on. When relationships come first, as they always do in China, you’d better know who’s friends with whom. In the pharmaceutical industry, for example, it’s not unusual for a Chinese sales rep to sell drugs on the side from local companies that compete with his foreign employer. That’s because the rep regards his guanxi not as a company asset but as a personal one that must be developed, protected, and leveraged – and needn’t be fully revealed to the employer. Selling competitors’ products to local hospital buyers is a way to pay back favors, fortify guanxi, and bring in extra cash, all at the employer’s expense. Similarly, Chinese sales reps often seek favorable credit terms for clients, even when doing so conflicts with company interests, because it enhances the reps’ connections. Guanxi relationships are defined by a strict ethic of reciprocity and obligation. Your employees in procurement and sales will always return favors from guanxi relations, whether the people they’re paying back are within your company or at competing firms, and they’ll do it according to their own timetables. In the same way, a vendor will serve both you and your competitors with complete equanimity because guanxi permits conflicting relationships as long as debts (monetary or otherwise) are eventually settled. 18 Dangerous Liaisons Because guanxi is so pervasive and powerful, it’s crucial to understand and manage frontline employees’ personal networks before they turn into liabilities. Companies must bring transparency to existing relationships, prevent conflicts of interest from developing, and align employees’ interests with their own. Here’s how some companies are doing it. They: Create competition. Ever since the consolidation of its operations in China, multinational telecommunications provider Alcatel has worked to restructure its supplier network. Some of its suppliers were owned by Alcatel shareholders or partly owned by Alcatel employees; the opportunities for conflict of interest were clear, so Alcatel introduced a competitive bidding process for all procurements. Without discouraging employees from cultivating guanxi, Alcatel reduced the chance that their personal connections would be used against the company. Rotate the front line. One way to shift the emphasis of business from relationships to transactions is to periodically (and cautiously) reconfigure the sales or procurement staff’s client assignments. This disrupts unduly powerful guanxi connections that can lead employees astray. Such rotations must be managed gingerly – they can backfire if they are too frequent or seem arbitrary or punitive. For the U.S. pharmaceutical company Allergan, a postmerger integration provided an opportunity to rotate client assignments without provoking a backlash. If your company plans to restructure or consolidate its China operations, consider reconfiguring frontline relationships at the same time. harvard business review
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