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How does an organisation achieve strategic renewal? In this video, Marc Hinnenberg explains what strategic renewal requires from the organisation in terms of capabilities, competencies and leadership.
One of the most important things is that we need a purposeful vision. Where are we going? A vision that should engage the stakeholders but, most importantly, the employees. You have to feel that you are part of something, a part of a movement, a part of building value for customers and finding your own purpose in your work. That is also a driver for well-being at work and value.
We're quite tuned on going for performance management, and it's easy to measure things, and you can lead set targets, but when talking to people, it is another perspective. You have to notice the people and listen to them, and I think it's a question of mattering as well. So you have to acknowledge why the people are important to the organisation, and they have to know that their work really matters. Then, you also have to talk about why it's important and why you value them as persons in the organisation and the movement.
The challenge many organisations face today is that they're very task-driven. The strategies revolve around growth in percentages, cost savings, operational effectiveness, and, of course, building customer value.
But when identifying must-win battles and initiatives, we seldom consider what capabilities and skills are needed. What are the competencies that we need? And those competencies should be linked to the strategic capabilities that the organisation needs. That's when the competencies are connected to the strategy, and it is easier for management to deploy the strategy and communicate why you are important as an employee in the strategy implementation and the renewal of the organisatio
What is unique about the Hanken Executive MBA?
Developing leadership with a coaching culture
Leading adjustment situations responsibly