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Zusammenfassung von The Wise Company

Name: The Wise Company
Rating: 4.2 (70 reviews)
Author: Ikujiro Nonaka and Hirotaka Takeuchi

Ikujiro Nonaka and Hirotaka Takeuchi

How Companies Create Continuous Innovation

4.2 (70 Bewertungen)

24 Min.

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What’s in it for me? Learn how to run a successful and sustainable business in today’s unpredictable marketplace.

The only thing that’s certain these days is uncertainty. Long gone is the time when businesses could rely on traditional methods of market research and steady revenue streams. Yes, there’s more data to analyze than ever. But being able to thrive in an unpredictable marketplace requires a different kind of knowledge and wisdom.

Running a wise company is about knowing your environment and customer needs on a more personal level. It’s about trusting your experience and working to exist in harmony with society. In short, it’s about more than just profit.

In these blinks, you’ll learn

what Aristotle can teach us about wise business practices;
why Machiavelli may be misunderstood; and
why smart leaders distribute their power.

There are three main problems facing companies today.

In 1995, the authors released their influential book The Knowledge-Creating Company. It explained the business practices behind some of Japan’s most successful companies. To this day it’s still considered a classic. But a lot has changed since 1995.

At the heart of that book was knowledge management. It explained how companies can take advantage of both explicit knowledge, like statistics and data, and tacit knowledge, the kind of insights you gain through experience. These days, however, knowledge has become more accessible, more abundant, more global, and more complex. As a result, we should focus on how to harness and use that knowledge more wisely.

The key message here is: There are three main problems facing companies today.

Despite the abundance of knowledge, companies still fail. Even once-great titans like Kodak, Circuit City, and General Motors have been brought to their knees. There are three reasons for this.

The first is that many executives are over-reliant on explicit knowledge, such as data, numbers, and analytical formulas.

This kind of knowledge might tell an automobile company which price points a customer desires. But it says little about the features and experience the customer desires.

More to the point, explicit knowledge won’t help companies navigate change. For one, it lacks context. It can also mislead executives into thinking that there are one-size-fits-all solutions. Instead, companies must understand social phenomena, and that’s hard to do by looking only at numbers.

Second, companies must think about the future they want to create.

To become both successful and sustainable, companies need to recognize what they are: social entities. Businesses have a social impact, and this needs to be considered as part of the mission.

Take the founder of Honda Motor, Soichiro Honda. When he was developing low-emission engines, he boasted that the mission was to beat the Big Three – Ford, GM, and Chevy. But then he heard that his engineers had a different mission – to develop engines that would make the world a better place for their children. Honda knew his engineers were right. He felt so ashamed that he announced his retirement.

This leads us to the final reason, the need for wise leaders.

Wise leaders are the ones who can contextualize what is happening in the here and now and take the right action without hesitating. Above all, wise leaders can offer superior value to their customers while also leading a morally responsible business – one that exists in harmony with society.

Looking at past philosophers can show us what knowledge practice entails.

Rather than just obtaining valuable knowledge, we should focus on knowledge practice. What’s the right thing to do with the knowledge once you have it?

For the answer to this question, let’s get a little philosophical.

To be sustainable, wise companies need to look at what’s best for society.

There’s another important name from the past that deserves mention, the Austrian economist Karl Polanyi. He brought together psychology and economics when he emphasized the importance of tacit knowledge in informing our actions. He focused on the impact of our actions on the world around us.

Polanyi recognized that companies are social institutions. Their actions influence society, just as changes in society will affect a business.

Grasping the essence requires personal experience and attention to detail.

Part of being a wise leader and utilizing knowledge practice is knowing how to grasp the essence. What is happening right now? What are the future consequences of plan A or plan B?

These are the kinds of questions that wise leaders need to be able to quickly assess, articulate, and act upon. Especially now, when changes in the marketplace can happen fast, and responses need to be devised as soon as possible.

Human interaction is crucial for wise leaders to generate new ideas.

Central to the success of the Balmuda toaster project was ba. Ba is a Japanese word that, roughly translated, means space or place. It refers to an area where people meet and ideas and information are exchanged.

This is important because for knowledge practice to work within a company, ideas need to be generated. Knowledge has to spiral outward through the company and touch everyone involved. This happens through the use of ba, by bringing people together.

Wise leaders communicate their purpose through stories and metaphors.

Having a strong sense of purpose won’t get you very far if you can’t communicate it properly. Likewise, you can set up all the meetings and group outings you want, but your company will only be successful if everyone is on the same page. For that to happen, a wise leader needs to communicate the essence.

Fortunately, there are some proven ways in which leaders can effectively share their vision and get everyone on board with the same purpose.

Sometimes the wise leader needs to use politics to rally and motivate the company.

What do you think of when you hear the term Machiavellian? Perhaps you think of evil, power-hungry schemers. In fact, that may not be entirely accurate if you take an honest look at Machiavelli’s best-known work The Prince.

As the scholar Richard Samuels points out, the wise prince isn’t necessarily evil. He isn’t even opposed to a higher good. He’s also willing to adapt and conform to whatever the current situation may require. Yes, he believes that the end justifies the means. But as long as you’re always standing on solid moral grounds, he may be right.

Wise companies practice distributed leadership.

For a company to be a success, practical wisdom can’t be limited to CEOs and executives. Wise leaders need to share their passions, their inspirations, and, most of all, their knowledge. Wise companies practice mentorship and apprenticeship, and encourage leadership distribution.

One of the central principles of practical wisdom is the sharing of that wisdom. It’s important for wise leaders not to think that this wisdom should only be shared with other executives or managers. In wise companies, everyone should know what needs to be done. Practical wisdom must be cultivated at every level.

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Worum geht es in The Wise Company?

The Wise Company (2019) is a follow-up to the authors’ influential book The Knowledge-Creating Company. It brings the techniques and practices of running a successful business into the twenty-first century, where a fast-changing and chaotic marketplace is the new normal.

Bestes Zitat aus The Wise Company

Above all, creating the future must extend beyond the narrow interest of the company. It must be about pursuing the common good.

—Ikujiro Nonaka and Hirotaka Takeuchi

Wer The Wise Company lesen sollte

CEOs and business owners
Executives looking for reliable management tips
Anyone interested in the secrets behind Japanese business practices

Über den Autor

Ikujiro Nonaka has been developing influential and game-changing business practices since the 1960s when he initiated new management practices at Fuji Electric. He’s since gone on to become one of the most respected business theorists in the world, with his insights into knowledge management changing the way many companies are run.

Hirotaka Takeuchi is a professor at Harvard Business School and is a frequent contributor to the Harvard Business Review. He’s co-authored many influential works with Ikujiro Nonaka, including The Knowledge-Creating Company and “The New New Product Development Game,” an article that’s credited with inspiring the Scrum framework for software development.

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