Archives for December 1, 2017

The Best Companies Know How to Balance Strategy and Purpose

By Laurent Chevreaux, Jose Lopez, and Xavier Mesnard.  Originally posted on HBR.org (Harvard Business Review) on November 2, 2014. 

Most companies have articulated their purpose — the reason they exist. But very few have made that purpose a reality for their organizations.

Consider Nokia. Before the iPhone was introduced, in 2007, Nokia was the dominant mobile phone maker with a clearly stated purpose — “Connecting people” — and an aggressive strategy for sustaining market dominance. Seeking to extend its technological edge (particularly in miniaturization), it acquired more than 100 startup companies while pursuing a vast portfolio of research and product development projects. In 2006 alone, Nokia introduced 39 new mobile-device models. Few imagined that this juggernaut, brandishing vast resources with such steely determination, could be quickly brought down.

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Sponsors Play Key Role in Advancing Women to CEO Level

By Kathy Gurchiek, originally posted on SHRM.org (Society for Human Resource Management) on November 29, 2017. 

Women who are chief executive officers typically did not see themselves in that role until a supervisor, mentor or sponsor urged them to seek the position.

That is among the key findings of Women CEOs Speak, a new report from the Korn Ferry Institute based on extensive interviews with 57 current and former female chief executives in the U.S. and psychometric assessments with two-thirds of the study participants.

Korn Ferry conducted the study to learn what qualities drive the women who make up 6.4 percent of U.S. CEOs. It conducted its research from February to July 2017 with 38 current and 19 former CEOs. Among participants, 23 are or were at Fortune 500 companies, 18 are or were at Fortune 1000 companies, and 16 are or were at privately held companies.

The findings point to the importance of sponsors and mentors in preparing women for leadership positions.