from the world's big
Say Goodbye to Business as Usual
Over the past twenty years, Hamel has authored 15 articles for the Harvard Business Review. He has also written for the Wall Street Journal, Fortune, The Financial Times and many other leading publications around the world.
Hamel's books, Leading the Revolution and Competing for the Future, have appeared on every management bestseller list and have been translated into more than 20 languages. His latest book, The Future of Management, was published by the Harvard Business School Press in October 2007 and was selected by Amazon.com as the best business book of the year.
Since 1983, Hamel has been on the faculty of the London Business School where he is currently Visiting Professor of Strategic and International Management.
As a consultant and management educator, Hamel has worked for companies as diverse as General Electric, Time Warner, Nokia, Nestle, Shell, Best Buy, Procter & Gamble, 3M, IBM, and Microsoft. His pioneering concepts such as "strategic intent," "core competence," "industry revolution," and "management innovation" have changed the practice of management in companies around the world.
Hamel speaks frequently at the world's most prestigious management conferences, and is a regular contributor to CNBC, CNN, and other major media outlets. He has also advised government leaders on matters of innovation policy, entrepreneurship and industrial competitiveness.
At present, Hamel is leading an effort to build the world's first "Management Lab." The MLab is a pioneering attempt to create a setting in which progressive companies and world renowned management scholars work together to co-create "tomorrow's best practices" today. The goal: to radically accelerate the evolution of management knowledge and practice.
Topic: Companies that win
Gary Hamel: I believe the companies that win over the next few years are going to be the companies that evolve their management models faster than their competitors. And there are a lot of reasons to believe that there are, you know, good alternatives to the status quo. One of the most successful companies over the last few years in India has been HCL Technologies, an Indian IT services company. Their entire management model is built on the principle of reverse accountability. In this company, an employee can fill out a ticket on their boss or an internal service provider, like HR, internal IT.
Say I don't agree with this decision or I don't believe I've been treated fairly, and only the employee can close that ticket when their concerns have been addressed. Managers are measured and kind of tracked on the basis of how many tickets have been filled against them, how quickly are they closed. And I could give you a half dozen other things that HCL is doing in that same spirit. Radically different management model than you find, you know, in the average company today.
So clearly, it is possible. There are alternatives to the status quo. It's hard to imagine them, because management itself has not changed much during our working lifetimes. Mostly we fiddled at the margins, but now we have to go beyond that. I think the question is though, how do you innovate radically in management, without blowing up your organization? And I would argue, like in any other area of human endeavor, we have to be able to experiment, right. That's the way you do something radical and safe at the same time.
If you're a drug company, you don't start out by putting a new pharmaceutical in the water supply. You start out by testing it in a simulation with rats, or whatever it may be. I think we have to think about management in the same way. Typically, when we think about changing an HR system or a budgeting system, we give that project to a big team. We give them six months, we ask them to kind of tear it all apart and put it back together again. That's a very risky proposition. So risky that normally you only want to do something that's a small tweak, fairly incremental versus what you already have.
But I think there are ways of experimenting with management, of trying things in a low cost, particular period of time, particular corner in the organization, so you don't have to take those bet the company risks. A few years back there was a vice president at Best Buy and he was looking at how the company did its forecasting. Obviously in consumer electronics retailing, forecasting is very critical, particularly around that holiday selling period. And typically those forecasts have been made by senior executives; the heads of the big merchandising units there at Best Buy.
And they got it usually about 90 percent accurate. It sounds pretty good, but when you're talking about tens of billions of dollars, companies where margins are very thin, those variances are very, very expensive either way. And so he did a little experiment. He sent an e-mail around to several hundred colleagues, asked them—this was in August of 2005, asked them to predict the company's revenues in the last kind of six weeks of the year. And then once they'd gotten into 2006, he went back and compared those forecasts, the wisdom of the masses versus the experts.
The experts were 93 percent right; not too bad. This much larger group had been 99.9 percent right. Now that was a little management experiment. Best Buy is now on their third or fourth iteration of this kind of prediction process and they use it in a whole variety of ways. But that management experiment started out -- it really took just a couple of hours of time getting the e-mails together, the only incentive was $100 gift card for the best guess.
Think about how do you do something radical in two hours and for $100 bucks. We have to think about innovation and management just like we think about innovation products, services, on our websites, anywhere else. Because the companies that win are going to be the companies that experiment more with how lead, organize, manage, structure. And the ones that then take the best of those experiments ramp them up into their existing management systems. You do that, you're experimenting more broadly, you're applying the lessons more quickly, you're going to have an enormous advance in a world that is going to become increasingly hostile to management as usual.
Recorded on August 15, 2009
Companies that ultimately win evolve their management models and experiment with the status quo, says bestselling author Gary Hamel.
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Gender and sexual minority populations are experiencing rising anxiety and depression rates during the pandemic.
- Anxiety and depression rates are spiking in the LGBTQ+ community, and especially in individuals who hadn't struggled with those issues in the past.
- Overall, depression increased by an average PHQ-9 score of 1.21 and anxiety increased by an average GAD-7 score of 3.11.
- The researchers recommended that health care providers check in with LGBTQ+ patients about stress and screen for mood and anxiety disorders—even among those with no prior history of anxiety or depression.
Study findings<p>For the study, <a href="https://link.springer.com/article/10.1007/s11606-020-05970-4" target="_blank">published in the Journal of General Internal Medicine</a><em>, </em>Flentje and her team evaluated survey responses from nearly 2,300 individuals who identified as being in the lesbian, gay, bisexual, transgender, and queer (LGBTQ+) community. Most of the participants were white, while nearly 19 percent identified as a racial or ethnic minority. Multiple genders were represented with cisgender women (27.2 percent) and men (24.6 percent) making up a majority of the participants. Sixty-three percent had been assigned female at birth. For the most part, participants identified their sexual orientations as queer (40.3 percent), gay (36.5 percent), and bisexual (30.3 percent).</p><p>The JGIM study participants were recruited from the 18,000-participant <a href="https://pridestudy.org/" target="_blank">PRIDE Study</a> (Population Research in Identity and Disparities for Equality), which is the first large-scale, long-term national study focusing on American adults who identify as LGBTQ+. It conducts annual questionnaires to understand factors related to health and disease in this population. </p><p>Participants filled out an annual questionnaire (starting in June 2019) and a COVID-19 impact survey this past spring. Flentje noted that on an individual level, some people may not have experienced a big change in anxiety or depression levels, but for others there was. Overall, depression increased by a <a href="https://patient.info/doctor/patient-health-questionnaire-phq-9" target="_blank">PHQ-9 score</a> of 1.21, putting it at 8.31 on average. Anxiety went up by a <a href="https://www.mdcalc.com/gad-7-general-anxiety-disorder-7" target="_blank">GAD-7</a> score of 3.11 to an average of 8.89. Interestingly, the average PHQ-9 scores for those who screened positive for depression at the first 2019 survey decreased by 1.08. Those who screened negative for depression saw their PHQ-9 scores increase by 2.17 on average. As for anxiety, researchers detected no GAD-7 change among the study participants who screened positive for anxiety in the first survey, but did see an overall increase of 3.93 among those who had initially been evaluated as negative for the disorder. </p>
Risks among gender and sexual minorities<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="fc3fd1ae68b77bbbf58a6995638d6d65"><iframe type="lazy-iframe" data-runner-src="https://www.youtube.com/embed/EnUqDjCqg0A?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span><p>The LGBTQ+ community is a vulnerable population to mental health concerns because of their fear of stigmatization and previous discriminatory experiences.</p> <p>Previous research by the Human Rights Campaign has found "that LGBTQ Americans are more likely than the <a href="https://medicalxpress.com/tags/general+population/" target="_blank">general population</a> to live in poverty and lack access to adequate medical care, paid <a href="https://medicalxpress.com/tags/medical+leave/" target="_blank">medical leave</a>, and basic necessities during the pandemic," said researcher Tari Hanneman, director of the health and aging program at the campaign.</p> <p>"Therefore, it is not surprising to see this increase in anxiety and depression among this population," Hanneman said in the release. "This study highlights the need for <a href="https://medicalxpress.com/tags/health+care+professionals/" target="_blank">health care professionals</a> to support, affirm and provide <a href="https://medicalxpress.com/tags/critical+care/" target="_blank">critical care</a> for the LGBTQ community to manage and maintain their mental health, as well as their physical health, during this pandemic."</p>
What should health care providers do?<p>The authors of the study recommend that health care providers check in with LGBTQ+ patients about stress and screen for mood and anxiety disorders in members of that community—even among those with no prior history of anxiety or depression.</p><p>As cases of COVID-19 continue to mount, the sustained social distancing, potential isolation, economic precariousness, and personal illness, grief, and loss are bound to have increased and varied impacts on mental health. Effective treatments may include individual therapy and medications as well as more large-scale coronavirus support programs like peer-led groups and mindfulness practices. </p><p>"It will be important to find out what happens over time and to identify who is most at risk, so we can be sure to roll out public health interventions to support the mental health of our communities in the best and most effective ways," said Flentje.</p>
What we know about black holes is both fascinating and scary.
- When it comes to black holes, science simultaneously knows so much and so little, which is why they are so fascinating. Focusing on what we do know, this group of astronomers, educators, and physicists share some of the most incredible facts about the powerful and mysterious objects.
- A black hole is so massive that light (and anything else it swallows) can't escape, says Bill Nye. You can't see a black hole, theoretical physicists Michio Kaku and Christophe Galfard explain, because it is too dark. What you can see, however, is the distortion of light around it caused by its extreme gravity.
- Explaining one unsettling concept from astrophysics called spaghettification, astronomer Michelle Thaller says that "If you got close to a black hole there would be tides over your body that small that would rip you apart into basically a strand of spaghetti that would fall down the black hole."
The team caught a glimpse of a process that takes 18,000,000,000,000,000,000,000 years.
- In Italy, a team of scientists is using a highly sophisticated detector to hunt for dark matter.
- The team observed an ultra-rare particle interaction that reveals the half-life of a xenon-124 atom to be 18 sextillion years.
- The half-life of a process is how long it takes for half of the radioactive nuclei present in a sample to decay.
A new study looks at what would happen to human language on a long journey to other star systems.
- A new study proposes that language could change dramatically on long space voyages.
- Spacefaring people might lose the ability to understand the people of Earth.
- This scenario is of particular concern for potential "generation ships".