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EVAN DOUGLAS Professor of Entrepreneurship

Developing a High-Performance Culture. EVAN DOUGLAS Professor of Entrepreneurship. CULTURE?. Shared beliefs; Shared attitudes towards things; The way we think about things.. National culture Business culture Family culture Personal culture…

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EVAN DOUGLAS Professor of Entrepreneurship

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  1. Developing a High-Performance Culture EVAN DOUGLAS Professor of Entrepreneurship

  2. CULTURE? • Shared beliefs; Shared attitudes towards things; The way we think about things.. • National culture • Business culture • Family culture • Personal culture… • Could be good or bad, moral or immoral; productive or unproductive; high or low performing...

  3. A HIGH-PERFORMANCE BUSINESS CULTURE • Profitable • Revenue side => serving market needs • Cost side => production & marketing efficiency • Cost efficiency and Quality efficiency • Satisfying • Management => serving owners/managers needs • Employees => serving employees needs • Sustaining • Despite local, national and global competition…

  4. C THE ABCs OF CULTURE B A,A • A is for Attitudes andAbilities • B is for Behaviour • C is for Culture C B A,A

  5. ATTITUDES DRIVE CULTURE ATTITUDES BEHAVIOUR ABILITY CULTURE

  6. CULTURE DRIVES PERFORMANCE ATTITUDES PERFORMANCE BEHAVIOUR ABILITY CULTURE MOTIVATION

  7. EXPECTANCY THEORY ATTITUDES REWARDS PERFORMANCE BEHAVIOUR ABILITY CULTURE MOTIVATION

  8. EMPLOYEE REWARDS • Income • People need to buy things.... • Independence • Empowerment, decision-making autonomy • Net Perquisites = • Perks • - Irks • + Lurks • - Shirks (of co-workers)

  9. NET PERKS • Perks • Tangible Perks • Nice office, car, parking spot • Lurks • Intangible Perks • Effective leadership, good management • Sense of team, social engagement • Irks • Tangible – noise, dust, smells, cold/hot, commute,… • Intangible - disagreeable co-workers, managers, leaders • Co-worker shirking

  10. JOB SATISFACTION PERFORMANCE INCOME JOB SATISFACTION MOTIVATION NET PERKS

  11. MONITORING EMPLOYEES EMPLOYER MONITORING PERFORMANCE INCOME JOB SATISFACTION MOTIVATION NET PERKS SELF MONITORING

  12. JOB SATISFACTION DRIVES PERFORMANCE ATTITUDES REWARDS PERFORMANCE BEHAVIOUR ABILITY JOB SATISFACTION CULTURE MOTIVATION

  13. HIGH PERFORMANCE • Profitability, Satisfaction, Sustainability • Sustainability means ongoing profits • That requires ongoing employee satisfaction • What else could hurt profits? • Competition • Imitation, Rivalry • What is the defence against competition? • Innovation • New products, services, business processes • Where does innovation come from? • Your employees! (amongst other sources)

  14. SUSTAINABILITY via INNOVATION ON-GOING JOB SATISFACTION ON-GOING PROFITS OTHER SOURCES ON-GOING INNOVATION IDEAS FOR NEW PRODUCTS, SERVICES, & PROCESSES

  15. INNOVATING WHAT? • New products, new services • Electronic beer coaster • Coatings that allow ‘one-way’ heat transfer • New production processes • Semi-solid metal casting • Back-draft burner for waste management • New business models • Hardware stores • Airlines • Internet retailing (www.poolfencing.com.au)

  16. GOOD EXAMPLES • Virgin Atlantic • Friday ‘show & tell’ meetings • Virgin Bride • Virgin Blue • 250 start-ups • 100 failures • Semco (Brazil) • Don’t come to work if you don’t want to • But you can be fired by your co-workers • And you can fire your boss

  17. ENTREPRENEURIAL CULTURE • Employees have the collective commitment that: • The organisation must change pro-actively in response to market opportunities • All employees are empoweredto suggestnew ideas • Equality of voice - everyone potentially has a great idea • Managers encourage the ideas to come to the surface • Managers support and reward innovative thinking • The organisation has the capability to: • Achieve ‘speed to market’ with new products & services • Flex, grow, and ‘re-invent’ itself as necessary • And lead the way into the next era Gary Hamel Leading the Revolution, Harvard Business Press, 2000

  18. IDEA GENERATION • Reflection (working on your job) • Think tanks, focus groups • Problem analysis • Trend analysis • Combine, Adapt, Modify • Talk to customers & suppliers • Scan new technologies for applicability • In-house research and development

  19. 10 RULES FOR AN ENTREPRENEURIAL CULTURE • Set unreasonable expectations • Stretch your business definition • Create a cause, more than a business • Listen to new voices • Create a market for new ideas • Offer an open market for capital • Open up the market for talent • Lower the risk of experimentation • Divide and conquer • Reward the innovators Gary Hamel Leading the Revolution, Harvard Business Press, 2000

  20. C CUT A LINK, IT COLLAPSES! B • The ‘scissor (wo)man’ • The CEO • Conservative • Other Managers • Road blocks • Unhappy Employees • Termites A,A C B A,A

  21. CONCLUSION ATTITUDES REWARDS PERFORMANCE BEHAVIOUR ABILITY INNOVATION EMPLOYEE SATISFACTION CULTURE MOTIVATION

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