Management practices that work
Labels:
Business,
English,
Financial,
International,
Strategy
What makes companies perform well? To find this holy grail of management studies, a McKinsey team analyzed upward of 100,000 questionnaires to uncover the practices of 400 business units in 230 companies around the world. The team eventually arrived at one winning combination: clear roles for employees (accountability), a compelling vision of change (direction), and an environment that encourages openness, trust, and challenge (culture). Nothing else came close in improving organizational performance.
The study found that organizational and financial performance correlate directly.
Example
An analysis of a global energy group’s production facilities suggested that for a facility of a similar size and margins, better organizational performance would have a payoff of between $25 million and $30 million.
The study found that organizational and financial performance correlate directly.
Example
An analysis of a global energy group’s production facilities suggested that for a facility of a similar size and margins, better organizational performance would have a payoff of between $25 million and $30 million.
No comments:
Post a Comment