eBusiness Weekly
The rollout of Covid-19 vaccines has executives everywhere hopeful for the pandemic’s end. Some are now asking how their companies might emerge stronger —making permanent the survival-mode improvements that brought speed, flexibility, and purpose, while avoiding bureaucracy. Mckinsey research finds that achieving these aims requires embodying nine characteristics that collectively describe who the organisation is, how it operates, and how it grows. Start here to help your organisation thrive in an increasingly winner-take-all world.
Purpose is our must have
Leaders at top companies know their companies’ core reasons for being — the “why” of their work. People reach further when their energies are channelled toward a purpose, and employees who say they are “living their purpose” at work are four times more likely to report higher engagement levels.
Our value agenda is clear
Many companies can’t say exactly why, where, and how they create value — let alone aggressively reallocate top people to initiatives where talent can have the best effect. Top companies make this a capability they call on repeatedly, allowing them to keep creating value in ways that differentiate them from rivals.
Culture is our “secret sauce”
Culture, or “how we do things,” is the backbone of organiSational health. Strong performance cultures are built on clear aspirations linked to specific, observable behaviors that everyone follows — from leaders to the front line. Top-quartile cultures enjoy three times the returns to shareholders as bottom-quartile rivals.
We are “radically flat”
Top companies structure around connectivity to replace the traditional “hierarchy of bosses” with a “network of teams” Digital tools help them convert would-be micromanagers into coaches who can handle larger spans of control, while empowering employees with more responsibilities and autonomy.
We turbocharger decision making
Future-ready companies make faster, better decisions by creating systems that appropriately divvy up decisions among top leaders, teams, individuals, and even algorithms. Delegating decisions to the lowest level possible gives customer-facing employees the agency to decide quickly—and well.
We embrace ecosystems
Leading organisations develop rich networks of external partners — and treat them as extensions of themselves. The key: create mutually dependent relationships and porous boundaries, then expand the value you share by letting each partner focus on the one unique thing that defines who they are.
Data is everyone’s business
Data isn’t just important; data is the business. Top companies create a clear approach to data governance, redesign key processes as modular applications, and aggressively tap the benefits of the cloud to yield benefits ranging from new products and services to better customer and employee experiences.
We accelerate learning
Continual learning is everyone’s day job at top organisations. A growth mindset, curiosity, and deep enthusiasm for experimentation helps employees adapt quickly, reinvent themselves successfully, and repeat the process as circumstances change. A pervasive learning orientation accelerates team and organisational learning as well. — Mckinsey Research (Online).
