This course includes videos from:
Ram Charan, business advisor, author, and speaker
Nancy Duarte, principal at Duarte, Inc.
Ralph Rivera, former director of BBC Digital
Stanley McChrystal, retired United States Army general
Note: This course was produced by Big Think. We are pleased to host this content in our library.
Skill Level Advanced
(soft music) - G3 concept come from my observations in a few companies that actually say company has only two resources, people and money. In most companies they're in silos. So G3 Concept is that the CEO and the CFO and the CHRO, three of them together, really thinking about the future, assigning people and the funds at the same time, seeing the interaction between the two, when they're evaluating monthly, quarterly, annual performance, they should do it together, and see what is the diagnosis what is the cause. And together, they should see where the competition is going, Is competition's talent is better or worse? Are they assigned the right way? Are their KPIs and compensation the right way? How does it compare with us? These two functions are relatively politically neutral compared to other functionals, and you break the silos between the two of them now. This is a different way to lead, to create value for customer, and to compete more effectively. (soft music) - Tool number two. In most companies, 2% of the key people have 98% of the impact. This is a concept, it's not exactly 2%. It could be half a percent, it could be a 1%, is throughout the company, throughout the geographies in all silos is not by hierarchy. These people are the ones who create value and others follow them. Some are scientists, some are operation people, some are high leverage people who have great networks to be able to create an ecosystem. What's their criteria? Criteria number one, in their DNA, they are change agents. Criteria number two, they're highly respected for their performance and they are leaders, other people magnet, they magnet towards them. And third, they are always looking from outside in. They're on the cutting edge towards changing on the outside. And they are watching the external niche of consumers, and competition and technology trends. Find those people. These are your value creators. They are the ones who compete against the other 2% of your competition. (soft music) And number three is digitization tools. Digitization of employees, digitization of all information and making it transparent, so that you don't communicate through layers. If you have 10 layers the information goes slow, distorted, not fast enough. So digitization tools permit transparency, friction free flow of information and courageous motivation and creativity. So first part of digitization is that you need to have data about the consumer. It has to be in the right place, in the right form. But mining that data requires algorithms of the right kind, a platform. That's the first part of digitization. The second part of the digitization is digitize the data about all people available to you instantaneously. It has to be transparent. People should be able to bid for the new projects, should be able to figure it out what they want to do. Each person should be treated like each customer, and try to recognize their potential. So digitization here is about people, their potential, their assignment, be able to have the people vote for, go for, seek for the opportunity in the company that they can realize their potential. Realizing potential is creating energy and that's a competitive advantage. (soft music)