Thanks as always to Ryan McCormick for this… there's always so much good reading, listening, and viewing shared here by him! Healthcare – Creating Value for Patients It is said that “if you fail to plan, you plan to fail”. Check out this excellent case study of Inova Health's planning process that enabled them to rapidly […]
"What you do today is important because you are exchanging a day of your life for it." — Elizabeth George“This is...
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Are you navigating towards a culture of continuous improvement, or are you stuck in the trap of only “continuous appearance”? In his new book Avoiding the Continuous Appearance Trap, Patrick Adams offers twelve questions to help you discover your answers — and offers stories of his own past experiences to help you avoid the pitfalls […]
The post Interview with Patrick Adams: Avoiding the Continuous Appearance Trap appeared first on Katie Anderson.
In Episode 25, Jamie Flinchbaugh and Mark Graban welcome a guest to our show, with Jim Benson joining us. Jim has been a long-time collaborator of Mark's, and certainly enjoys a dram or two of whiskey. We begin by getting the backstory on Jim's Twitter handle @OurFounder, complete with artwork. Since it's still winter, and […]
The post Lean Whiskey #25: Peaty Scotch, Working from Home, and Misunderstood Lean Phrases appeared first on Lean Blog.
In January, Raj Aseervatham published a thought-provoking book entitled Leading Tomorrow: How Effective Leaders Change Paradigms, Build Responsible Brands, and Transform Employees, which addresses the evolving expectations of the stakeholders -- such as, customers, investors, society, governments, and employees -- regarding businesses and their products and how leadership must respond. These stakeholders are increasingly making choices about if or how they support businesses – through the purchase of their products and services, shareholdings and financing, regulatory approvals, and even experiences working for them – based on not just what a business does, but how it does it.
Raj's book considers how the emerging generation of leaders must change paradigms and transform their employees to do more than just operate a business. It examines how to effect culture shifts that are necessary to innovate businesses so that they simultaneously meet market needs while meeting stakeholder expectations on concerns as varied as ethical business conduct, labor practices, climate change, responsible use of diminishing natural resources, and contribution to socio-economic challenges in their market catchments.
When I spoke with Raj this month, I asked him: "How are stakeholder expectations changing regarding supporting businesses? What paradigms must leaders change to meet these new expectations?"
Here is his complete answer:
The three most significant support groups for successful businesses are customers, investors, and employees. These stakeholder groups are part of a larger ecosystem; our increasingly interconnected, increasingly knowledgeable society, and the communities of which we are a part.
Societal awareness of the environmental, social and governance (ESG) problems that society faces grows daily. As the world’s population increases, these problems grow and exacerbate each other. Climate change, ecological breakdown, water contamination, air pollution, pandemics, corruption, infractions of human rights in the supply chain, gender and cultural discrimination, and many others take a compounding toll on society.
Unsurprisingly, an increasing proportion of stakeholders demand to know what businesses are doing to diminish these problems. They disassociate from those businesses that worsen the problems and migrate to better-performing competitors. Their insights improve continually. Greenwashing and PR are more easily seen through.
As this awareness extends across and deepens within society, customers, investors and employees are making more informed choices about who they will buy from, who they will invest in, and who they will purposefully work for. These trends amplify as older generations give way to younger generations and new values supersede old ones. Commodity markets, money markets, and human resource markets adapt to these inexorable trends.
Business leaders are seeing these ESG issues as the new frontier of strategic management. Responsible businesses are more likely to sustainably prosper.
Leaders must now understand the myriad issues and own the most important ones in the context of their business stakeholders and business strategy. Then they must authentically lead their employees to meet or exceed rapidly changing stakeholder expectations of responsible business practice. Growing and harnessing such societally attuned business cultures will increasingly define successful business leaders.
Like any journey of authentic and transformative leadership, the first steps are taken within the leader. This book provides illumination to guide those first critical steps to leading tomorrow.
What do you think of Raj's perspective? Have you seen a shift in your customers' and stakeholders' expectations? What steps are you taking to address these new expectations?
I saw this press release about the new book by former General Electric CEO Jeffrey Immelt. Jeff Immelt to Release HOT SEAT: What I Learned Leading a Great American Company The book is available now through Amazon. Immelt had his critics for sure, and some are writing 1-star reviews of his book (and it's a […]
The post What Former GE CEO Jeff Immelt Says About Mistakes appeared first on Lean Blog.
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My guest for Episode #402 is Jay Hodge, the founder and CEO of Jay Hodge & Associates. He has over 25 years of operational leadership experience in companies such as Toyota, General Motors, Caterpillar, and Tenet Healthcare. Jay is also the author of The Lean Treasure Chest. We talk about Jay's career — going from […]
The post Going From GM to Toyota to Healthcare and Beyond: Jay Hodge appeared first on Lean Blog.
At the suggestion of multiple readers, I would like to take a deeper look into maintenance, especially total productive maintenance (TPM). Maintaining your machines and tools is important for your business. In many places, maintenance seems to be more reactive: if it breaks, fix it. Often, a better approach would be proactive maintenance: maintain it ... Read moreThe post A Brief History of Maintenance first appeared on AllAboutLean.com.
In the beginning was the Word...
So begins the Old Testament, which Canadian scholar Northrop Fry called The Great Code, the blue-print for Western culture.
Indeed, language reflects how we think, how we experience life, and who we are.
What's this got to do with strategy & strategy deployment?
Strategy is story-telling, strategy is language.
But what if our language is foggy? What's a team to make of head-scratchers like the following?
"We will leverage our World Class Operating Capabilities” or “We'll reshape pricing tactics to effectively manage demand while sustaining market access.”
My advice, head for the hills!
Sorry, but such language often means the team is clueless.
"We really don't understand what's happening, so let's slather on the buzzwords!"
I spend much of my time coaching senior leaders. My advice to them?
Ban fuzzy words & phrases!
Out with cliché! Down with the latest buzzwords!
Sayonara to 'leverage,' 'synergy,' 'disintermediation,' and 'robust' -- (to pick just a few).
PLAIN LANGUAGE, PLEASE!
We were lucky at our old Toyota plant.
Our Japanese senseis' grasp of English was very basic, which meant we had to express ourselves clearly & simply.
As a result, despite the language barrier, we communicated beautifully.
In case you missed our last few blogs... please feel free to have another look…
Where Lean Has Gone Wrong & What to Do About It, Part 2
Where Lean Has Gone Wrong & What to Do About It, Part 1
What is Courage & What’s It Mean for Strategy?
"How Will You Motivate Your Team, Pascal-san?"