Editor's Note: This is a summary of an HBS Business Summit presentation. View a full summary and video of the event on the HBS Centennial Web site linked below.
|Date of Event:||October 14, 2008|
|Moderator:||Clayton M. Christensen, HBS Faculty|
|Speakers:||Nolan Archibald, Chairman & CEO, The Black & Decker Co.|
Boon-Hwee Koh, Chairman, DBS Bank
Chet Huber, President, OnStar
Srivatsa Krishna, Indian Administrative Service, Government of India CEO & Executive Director, Dubai World Group, South Asia
Betsy Morgan, The Huffington Post
What are the secrets to leading successful transformations? According to two panel sessions, successful organizations must continually transform themselves in today's dynamic world.
Panelists said globalization has played or will play a key role in the transformations of their organizations, through low-cost global supply chains and new global opportunities—though the process of globalizing is often more driven by need, circumstance, and opportunity than by carefully made strategic plans.
The panelists view globalization as an unending path. However, they see bumps along the road, including the dangers of cultural homogeneity. In certain instances localization and regionalization will be preferable to globalization.
Key concepts include:
- Each panelist has led a remarkable transformation or innovation.
- In most cases, globalizing was driven by circumstance more than by some grand master plan.