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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
Innovation and Entrepreneurship in the American Corporation
Globalization has dramatically changed the rules of business in recent years. Traditionally, most industries were dominated by a few big corporations and markets were relatively stable. Today's businesses have to compete globally and survive in rapidly changing, volatile markets. Many organizations are failing to keep up. Why?
One reason is that traditional organizations are often held back by their success formulas.
When companies overcome their first set of challenges, they typically develop a success formula that outlines the way the organization should be run. It can address issues like production techniques or the company's structure. The point is that since the formula worked for the business in the past, it becomes the standard protocol. This can seriously impede innovation.
The author conducted research on a textile manufacturer that struggled with just this issue. The company had experienced problems with yarn breaking since it first went into operation, so the owners considered this to be a normal cost of the business and didn't try to fix it.
Then a new plant manager joined the company. He worked to improve employee communication and eventually met a worker who had an idea for modifying the production technique to reduce breakage. He'd had the idea for 32 years, but he never shared it until he was asked.
When the new manager asked the employee why he hadn't spoken up before, he said that the old manager simply hadn't been interested in changing the process. This shows how getting too comfortable in your routine can be detrimental.
The Change Masters (1983) is about Rosabeth Moss Kanter's findings from her extensive research on American corporations in the 1980s. She identifies the key factors that bring about change and innovation, and explains how you can structure your organization to adapt to change more effectively.
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Try Blinkist to get the key ideas from 5,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trialBlink 3 of 8 - The 5 AM Club
by Robin Sharma