Leadership →
- 22 Nov 2010
- Research & Ideas
Seven Strategy Questions: A Simple Approach for Better Execution
Successful business strategy lies not in having all the right answers, but rather in asking the right questions, says Harvard Business School professor Robert Simons. In an excerpt from his book Seven Strategy Questions, Simons explains how managers can make smarter choices. Closed for comment; 0 Comments.
- 04 Nov 2010
- What Do You Think?
Why Do We Chase Stars?
Summing Up: Is it wise for companies to recruit "star" performers? Discussing the book "Chasing Stars", Jim Heskett's readers support the idea that talent is portable between employers and that women are better at it than men. (Next Forum opens December 2) Closed for comment; 0 Comments.
- 06 Oct 2010
- Research & Ideas
John Kotter: Four Ways to Kill a Good Idea
Every visionary knows the frustration of pitching a great idea, only to see it killed by naysayers, say HBS professor emeritus John P. Kotter and University of British Columbia professor Lorne A. Whitehead. In an excerpt from their new book, Buy-IN: Saving Your Good Idea from Getting Shot Down, the authors reveal strategies used by your critics—and how to defend against them. Key concepts include: Fear mongering involves creating infectious anxiety, scaring others into believing that a good idea is far too risky to pursue. Death by delay entails stalling an idea with never-ending questions, straw polls, and meetings—until the idea eventually loses momentum and peters out. Confusion consists of peppering a conversation with a stream of irrelevant facts and convoluted questions, making it nearly impossible for the innovator to keep the discussion on track. Ridicule is a direct attack on the character of the person who proposed the idea, creating indirect doubts about the idea itself. Closed for comment; 0 Comments.
- 04 Oct 2010
- Research & Ideas
Introverts: The Best Leaders for Proactive Employees
Think effective leadership requires gregariousness and charisma? Think again. Introverts can actually be better leaders than extraverts, especially when their employees are naturally proactive, according to Francesca Gino. Closed for comment; 0 Comments.
- 20 Sep 2010
- Research & Ideas
Power Posing: Fake It Until You Make It
Nervous about an upcoming presentation or job interview? Holding one's body in "high-power" poses for short time periods can summon an extra surge of power and sense of well-being when it's needed, according to Harvard Business School professor Amy J.C. Cuddy. Closed for comment; 0 Comments.
- 07 Sep 2010
- Research & Ideas
Mindful Leadership: When East Meets West
Harvard Business School professor William George is fusing Western understanding about leadership with Eastern wisdom about the mind to develop leaders who are self-aware and self-compassionate. An interview about his recent Mindful Leadership conference taught with a Buddhist meditation master. Key concepts include: People who are mindful—fully present and aware—can become more effective leaders. Leaders with low emotional intelligence often lack self-awareness and self-compassion, which can lead to a lack of self-regulation. Authenticity is developed by becoming more self-aware and having compassion for oneself. Group support provides nonjudgmental feedback in order to recognize blind spots, accept shortcomings, and gain confidence. Closed for comment; 0 Comments.
- 30 Aug 2010
- Research & Ideas
Turning Employees Into Problem Solvers
To improve patient safety, hospitals hope their staff will use error-reporting systems. Question is, how can managers encourage employees to take the next step and ensure their constructive use? New research by Julia Adler-Milstein, Sara J. Singer, and HBS professor Michael W. Toffel. Key concepts include: Patient-safety information campaigns can help hospital staff do more than just report problems when they occur. Thanks to information campaigns, frontline workers increased the rate of suggesting constructive solutions to problems by 74 percent. The frequency increased even more when unit managers joined in problem solving. By serving as role models, managers who actively engage in problem solving can lead their frontline workers to create and share solutions. Closed for comment; 0 Comments.
- 09 Jul 2010
- Working Paper Summaries
The Limits of Nonprofit Impact: A Contingency Framework for Measuring Social Performance
The social sector is in the midst of a search for metrics of impact. Over the past 20 years, there has been an explosion in methodologies and tools for assessing social performance and impact, but with little systematic analysis and comparison across these approaches. In this paper, HBS professors Alnoor Ebrahim and V. Kasturi Rangan provide a synthesis of the current debates and, in so doing, offer a typology and contingency framework for measuring social performance. Their contingency approach suggests that—given the varied work, aims, and capacities of social sector organizations—some organizations should be measuring long-term impacts, while others should stick to measuring shorter-term results. The researchers provide a logic for determining which kinds of measures are appropriate, as driven by the goals of the organization and its operating model. Key concepts include: With the contingency framework, organizational leaders and managers can clarify what types of results they seek to achieve, and thus for what they should be held to account. Doing so requires them to articulate a causal logic, or theory of change, that they expect will lead to long-term goals. This framework suggests that social sector organizations can increase their control over long-term societal impacts in at least two ways: by expanding their operations in order to reach a threshold population or critical mass (scale), and by offering more comprehensive services or partnering with others in order to tackle a problem (scope). It is not feasible, or even desirable, for all organizations to develop metrics at all levels on the logic chain. This contingency framework offers some general cautions about performance measurement. First, it suggests that measuring impacts makes sense under a limited set of circumstances—when an organization operates at an ecosystem level, and yet can exercise sufficient control over results to attribute impacts to its work. Second, many organizations face a double challenge of measuring performance in a variety of areas separately, while also integrating across them in order to gauge possible synergistic effects at the ecosystem level. Third, funders such as foundations, governmental departments, and international aid agencies are far better positioned than most nonprofits to measure impacts. Finally, given the diversity of actors engaged in social change, the four broad types of results in the framework should be taken as suggestive rather than as silver bullets. The very basis of the framework—contingency—suggests that there are no panaceas to results measurement in complex social contexts. Closed for comment; 0 Comments.
- 19 May 2010
- Working Paper Summaries
The Job Market for New Economists: A Market Design Perspective
How should the most appropriate employers and job candidates find each other? Newly minted economists typically send applications to an average of 80 potential employers, and as a result, many employers receive hundreds of applications. It is extremely time-consuming to sort through all the applications, and as the process unfolds, there is a risk of coordination failure, in which employers and candidates who would be well-suited do not manage to create a match. In this paper, HBS professors Peter A. Coles and Alvin E. Roth and colleagues provide an overview of the market for new PhD economists and describe new mechanisms to improve the matching process. They conclude by discussing the emergence of platforms for transmitting job market information, and other design issues that may arise in the market for new economists. Key concepts include: Practical market design is often a response to particular problems. A new market design often leads the way to developing new knowledge. Two new mechanisms have facilitated matches. The first, a signaling service, allows job candidates to express interest to a limited number to potential employers prior to interviews at association meetings. The second mechanism, a web-based "scramble," reduces search costs and "thickens" the late part of the job market for candidates and employers still seeking a match. Closed for comment; 0 Comments.
- 10 May 2010
- Research & Ideas
What Top Scholars Say About Leadership
As a subject of scholarly inquiry, leadership—and who leaders are, what makes them tick, how they affect others—has been neglected for decades. The Handbook of Leadership Theory and Practice, edited by Harvard Business School's Nitin Nohria and Rakesh Khurana, brings together some of the best minds on this important subject. Q&A with Khurana, plus book excerpt. Key concepts include: Leadership as a phenomenon for research is experiencing a rebirth due to developments in the academy and the urgency of improving leadership globally. At the turn of the 20th century, leadership was studied intensely. It then fell off the academic grid. Given the number of schools asserting leadership development as part of their mission statement, it is critical for scholars to understand and explain how leaders succeed and fail based on opportunities and constraints. Leadership should be examined through a variety of lenses, including psychology, sociology, economics, and history. Closed for comment; 0 Comments.
- 06 May 2010
- Working Paper Summaries
Introductory Reading For Being a Leader and The Effective Exercise of Leadership: An Ontological Model
Effective leadership does not come from mere knowledge about what successful leaders do; or from trying to emulate the characteristics or styles of noteworthy leaders; or from trying to remember and follow the steps, tips, or techniques from books or coaching on leadership. And it certainly does not come from merely being in a leadership position or in a position of authority or having decision rights. This paper, the sixth of six pre-course reading assignments for an experimental leadership course developed by HBS professor emeritus Michael C. Jensen and coauthors, accompanies a course specifically designed to provide actionable access to being a leader and the effective exercise of leadership as one's natural self-expression. Key concepts include: One of the conditions for realizing the promise of the leadership course is that students must be open to examine, question, and then transform their worldviews (models of reality) and frames of reference (mindsets). Students create for themselves a powerful 4-part contextual framework that calls them into being as a leader. Having done this what remains is to confront one's own Ontological Perceptual and Functional constraints so as: 1) to relax their ability to restrict one's perceptions of what must be dealt with in any leadership situation, and 2) to relax their ability to restrict one's freedom of choice for action in any leadership situation. Students cannot master that which they do not create for themselves. This is especially true of anything that is at first counterintuitive. Closed for comment; 0 Comments.
- 12 Apr 2010
- Research & Ideas
One Report: Better Strategy through Integrated Reporting
Stakeholders expect it. And smart companies are doing it: integrating their reporting of financial and nonfinancial performance in order to improve sustainable strategy. HBS senior lecturer Robert G. Eccles and coauthor Michael P. Krzus explain the benefits and value of the One Report method. Plus: book excerpt from One Report: Integrated Reporting for a Sustainable Strategy. Key concepts include: Integrating reporting in One Report means to describe, simply and clearly, management's view of the relationships between financial and nonfinancial metrics. Companies like Philips, Novo Nordisk, Natura, and United Technologies are leaders in conducting and communicating integrated reporting. The four key benefits of integrated reporting are: greater clarity about the relationship between financial and nonfinancial key performance indicators; better management decisions; deeper engagement with the broad stakeholder community; and lower reputational risk. Closed for comment; 0 Comments.
- 08 Mar 2010
- Sharpening Your Skills
Sharpening Your Skills: Successful Negotiation
Can you out-negotiate Wal-Mart? Can women overcome gender stereotypes to win equitable pay? Recent research from Harvard Business School looks at important factors to consider before sitting down at the bargaining table. Closed for comment; 0 Comments.
- 22 Feb 2010
- Op-Ed
Tragedy at Toyota: How Not to Lead in Crisis
"Toyota can only regain its footing by transforming itself from top to bottom to deliver the highest quality automobiles," says HBS professor Bill George of the beleaguered automobile company that in recent months has recalled 8 million vehicles. He offers seven recommendations for restoring consumer confidence in the safety and quality behind the storied brand. Key concepts include: Toyota Motor Corporation's problem is first and foremost a leadership crisis. It needs a credible leader with a strong, cohesive plan. Competitors Ford and GM are working to regain the market share they have lost to Toyota. Rather than blame floor mats and panicky drivers, as Toyota did when complaints first arose, it should have acknowledged that its vaunted quality system failed. Toyota should seize the opportunity to make radical changes to renew the company and restore consumers' trust. Closed for comment; 0 Comments.
- 22 Feb 2010
- Research & Ideas
Manager Visibility No Guarantee of Fixing Problems
Managers who merely put in time "walking the floor" are not doing enough when it comes to problem solving; in fact, it can make employees feel worse about their situation, says HBS professor Anita Tucker. Key concepts include: Communicating with frontline workers can backfire if managers make only a token effort to resolve issues. Identifying more problems is not necessarily better if the organization then ignores the majority of the concerns. Solving issues as they arise with intense and substantive actions is more productive in creating a climate where it is clear that the manager is concerned. Closed for comment; 0 Comments.
- 19 Jan 2010
- Sharpening Your Skills
Sharpening Your Skills: Managing the Economic Crisis
The economic crisis is tapping the inner reserves of experienced leaders and introducing a new generation of managers to crisis management. These previous WK articles explore leadership, the role of the Board, the emotional needs of managers, and the risk to corporate giving programs. Closed for comment; 0 Comments.
- 14 Jan 2010
- Working Paper Summaries
Optimal Auction Design and Equilibrium Selection in Sponsored Search Auctions
Reserve prices may have an important impact on search advertising marketplaces. But the effect of reserve prices can be opaque, particularly because it is not always straightforward to compare "before" and "after" conditions. HBS professor Benjamin G. Edelman and Yahoo's Michael Schwarz use a pair of mathematical models to predict responses to reserve prices and understand which advertisers end up paying more. Key concepts include: A search engine's optimal reserve price is independent of the number of bidders and also independent of the rate at which click-through rate declines over positions. Most incremental revenue from setting reserve price optimally comes from the indirect effects on high bidders—not from the low bidder's direct effect, nor from indirect effects on other low bidders. This result may appear counter-intuitive because top bidders' large valuations place them, in an important sense, "furthest from" the reserve price. Closed for comment; 0 Comments.
- 10 Dec 2009
- Working Paper Summaries
State Owned Entity Reform in Absence of Privatization: Reforming Indian National Laboratories and Role of Leadership
Is privatization necessary? In India and across emerging markets, state-owned entities (SOEs) continue to make up a large proportion of industrial sales, yet they lag behind private counterparts on performance measures. But SOEs may be able to significantly improve performance even in the absence of property rights, according to HBS doctoral candidate Prithwiraj Choudhury and professor Tarun Khanna. As they document, 42 Indian state-owned laboratories started from a base of negligible U.S. patents, yet in the period 1993-2006 (during which the Indian government launched an ambitious privatization program), the labs were granted more patents than all domestic private firms combined. The labs then licensed several of these patents to multinationals, and licensing revenue increased from 3 percent to 15 percent as a fraction of government budgetary support. Findings are relevant to firms and R&D entities around the world that depend on varying degrees of government budgetary support and government control, especially in emerging markets like India, where SOEs control up to one-third of all industrial activity. Key concepts include: Despite the absence of property rights, 42 Indian state-owned laboratories significantly increased U.S. patents and licensing revenue from multinationals without negatively affecting publication quality and quantity. This development may be due to incentive policy change and leadership change at the labs. U.S. patents as well as revenue from multinationals increased sharply in response to director changes, an event whose timing was dictated by rigid government employment rules. Private firms including multinationals can play a catalytic role in driving up revenue at SOEs. The state-owned labs leveraged the U.S. institutional context in effecting their turnaround. The general point is that organizations in emerging markets can leverage institutions from outside their location of origin, once they have some established source of competitive advantage (in this case, their R&D-generated know-how). Although the labs were able to commercialize projects without sacrificing publication quality and quantity, a question remains as to whether and why national labs should concern themselves with commercialization. Closed for comment; 0 Comments.
- 03 Dec 2009
- Working Paper Summaries
Walking the Talk in Multiparty Bargaining: An Experimental Investigation
Talk can unite, but it can also divide. In multiparty bargaining, communication can focus parties on a fair distribution of resources, but it can also focus parties on a competitive distribution of resources. As HBS professor Kathleen L. McGinn and coauthors Katherine L. Milkman and Markus Nöth show through experiments, at the onset of interaction the dominant logic in discussions—be it fairness or competition—strongly influences the equality of payoffs even in complex, full-information multiparty bargaining. Increases in the relative frequency of talk about fairness are associated with payoffs closer to an equal split. Talk about competitive reasoning has the opposite effect, driving payoffs away from an equal division, though these effects are less consistent than fairness talk effects. The researchers' results add critical insights to our understanding of the role of communication in multiparty bargaining. Key concepts include: In multiparty bargaining, as in two-party bargaining, communication may work in part through social awareness and in part by allowing players to threaten to walk away. Communicating the willingness to walk away, in conjunction with loss aversion by stronger players, may help weaker players convince stronger players to move toward a more equal split of the available surplus, but it also permits strong players to threaten weak players. In a competitive, multiparty game, communication may play a more nuanced role than observed in simpler bargaining contexts. Closed for comment; 0 Comments.
Creating Leaders: An Ontological Model
HBS professor emeritus Michael C. Jensen and coauthors have created an ontological approach to creating leaders in which leadership emerges through spontaneous and intuitive natural self-expression. Key concepts include: The ontological model of leader and leadership opens up and reveals the actual nature of being when one is being a leader. It also opens up and reveals the source of one's actions when exercising leadership. Ontology's associated phenomenological methodology provides actionable access to what has been opened up. Students do not need to study ontology or phenomenology. Closed for comment; 0 Comments.