Books
Strategies for a changing world
Competing in a Flat World
Victor K Fung, William K Fung and Yoram Wind
Wharton School Publishing, £14/$27.99
Success in a flat world is less about what a company does and more about who it can connect to. The authors – the Fung brothers, chairman and managing director of a self-proclaimed pioneer of “flat-world” companies, Hong Kong-based Li & Fung, and Yoram Wind, a professor and business strategy specialist – demonstrate how they replaced the traditional infrastructure of vast employee bases with a versatile network that enables the brothers’ garment manufacturer to produce more than $8 billion of goods each year without owning a single factory.
The secret of this success, they argue, is a set of principles for “network orchestration” that can be applied to any industry. Core to this is the idea of placing the customer at the heart of the organisation and of creating a loose-tight relationship with key suppliers, where you account for no less than 30 per cent and no more than 70 per cent of their business.
Pros: Draws on ample experience
Cons: One size won’t fit all
How to Manage in a Flat World
Susan Bloch and Philip Whiteley
FT Prentice Hall, £17.99/$36
Working in a flat world brings vast opportunities to make individuals and companies more efficient, argue executive coach Susan Bloch and author and journalist Philip Whiteley. But managers have to strike a balance between greater connectivity through technology and the dispersion of having teams around the world. In this environment, organisations will remain “people businesses” but face-to-face meetings will only be one way to build relationships.
Drawing on case studies from the likes of Coca-Cola, Shell and Siemens Business Services, the authors offer 10 strategies to help managers use technology to their advantage, establish an acceptable work-life balance and lead and motivate people based around the world.
By focusing on the practical steps individual managers must take to contend with shifting business structures, this book brings a highly personal outlook to a global social and economic transformation.
Pros: Practical and personal approach
Cons: Prone to generalisations
Successful Strategy Execution
Michel Syrett
The Economist, £20/$40
Most business strategies fail, according to the Economist Intelligence Unit, because no matter how good they are in theory, they are rarely carried out in practice. Leadership and management thinker Michel Syrett – currently research director at Business Intelligence – argues that this is because strategies are overtaken by other factors such as corporate politics, miscommunication and a silo mentality, which all too often go unnoticed as few companies track their performance against long-term goals.
After examining failed initiatives from the likes of British Airways and General Electric, Syrett examines nine cultural aspects, including communication, measurement and leadership, that need to be in place for strategies to succeed.
Pros: Packed with examples
Cons: Requires corporate buy-in
Riding the Whirlwind
Fons Trompenaars
Infinite Ideas, £15/$30
This book, which examines company culture and innovation, explains that companies can move towards a shared vision of sustained growth by reconnecting people, teams and organisations.
But for this to happen, says Fons Trompenaars, international management and innovation expert, leaders have to create an environment where individuals and teams are rewarded for placing innovation in the context of realising business objectives. He draws on research, business theories and psychological frameworks to illustrate how innovation can flourish in certain cultures.
There are even highly entertaining interludes drawing on classic comedies such as Fawlty Towers and The Simpsons, which serve to break up what can, in places, be pretty heavy going.
Pros: Thought-provoking, readable
Cons: Can get too fanciful
