Keynote speech launching #cipd14 with Rita Gunther McGrath
A live set of notes, which will be refined later – please accept any errors as this is typed live.
Peter Cheese the CEO welcomes the participants. He tells the audience that HR is becoming more relevant than ever before.
HR analytic are “the next big thing”. Most of what we measure currently in business is not adding value or measuring the value of business.
The CIPD are seeking to explore ways of advising HR professionals and business on collecting and using HR related data, including human capital factors.
Is HR a control or an enabler function?
The CIPD is striving to be a world leading professional body, recognising that people at all levels will move in and out of the profession
the purpose to create Better organisations and better working lives.
How do we impact business and build more value?
For years the holy grail of strategy has been “sustainable competitive advantage” – but is this the reality for most organisations?
advantages do not last for a long time – look at Blackberry
look at the history of Fuji & Kodak – and the various changes to the chemical based photography. in the early 1970s when the cost of sliver changed, so the business changed. when things settled again, most firms accepted that the problem was over. But the CEO of Fuji wondered what would come next. He took the company away from film, towards other industries and technologies. Fiji are a world leadinmg company… kodak is…where?
How do you determine the “silver” or black swan that could impact your business?
a strategy or approach has a finite life-cycle. the question is what is the life of yours?
in terms of competitors we now need to not look within our industry, but within areeas.
the tools like porters 5 forces and the boston box are now outdated, as the business world has changed since the models were created.
Most firms under invest in innovation
there are millions of results in search engines for “change management” – orgs need to welcome and seek change, not be afraid of it
The new strategy playbook
- continuous reconfiguration
- healthy disengagement – be proactive
- flexible resource allocation within the org. “plastic orgs”
- innovation proficiency
- a new leadership mindset
- Entrepreneurial career management
Leaders setting direction is not a sustainable model, be willing to change direction when new data is available.
Today’s careers are fundamentally different that they once were.
leaders need to be able to manage tough decisions. “you cannot manage a secret”
– sustainability in products, services and leadership is not sustainable
context is everything – just because an approached once worked once does not make it appropriate now