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Book Presentation

What Matters Now by Gary Hamel

Book Abstract

MAIN IDEA

It’s time to reinvent management as we know it and to create organizations which are fit for the future. The five fundamental, make-or-break management challenges which will determine whether your organization thrives or dives in the years ahead are:

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“Obviously, there are lots of things that matter now, including social media, “big data,” emerging markets, virtual collaboration, risk management, open innovation, and sustainability. But in a world of fractured certainties and battered trust, some things matter more than others. While the challenges facing organizations are limitless, leadership bandwidth isn’t. That’s why you have to be clear about what really matters now. These are big, thorny issues. To tackle them, we have to venture beyond the familiar precincts of “management-as-usual.”

– Gary Hamel

About the Author

GARY HAMEL has been described by the Wall Street Journal as “the world’s most influential business thinker.” He is Visiting Professor of Strategic and International Management at the London School of Business. He is also a consultant and management educator and is widely recognized as the developer of concepts like “strategic intent”, “core competence” and “management innovation.” Gary Hamel is the author of Leading the Revolution and the coauthor of Competing for the Future in addition to seventeen articles in the Harvard Business Review and numerous other articles for the Wall Street Journal, Fortune and The Financial Times. Dr. Hamel is currently leading the world’s first open innovation project aimed at reinventing management (www.ManagementExchange.com.)

The Web site for this book is at www.GaryHamel.com.

Important Note About This Ebook

This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.

Summary of What Matters Now (Gary Hamel)

Challenge #1: Values

Bankers and unprincipled CEOs have set new records for egocentric madness in recent years. They’ve given capitalism a bad name. It’s time for an injection of morality into business. Today, values matter more than ever before and it’s time we displayed some great values. Business needs a moral renaissance and a return to good values.

1. Put first things first

Leaders need to start acting like stewards of their organizations rather than mercenaries. When you get right down to brass tacks, stewardship means five things:

  1. You view the assets of your organization as a trust you must protect rather than as a means for you to make personal gain.
  2. You need to be willing to put the well being of your organization ahead of your own interests.
  3. You need to act prudently so you build a foundation for success both now and in the future rather than thinking short-term.
  4. You must be prepared to be accountable for the consequences of your actions as a leader.
  5. You need to have the mindset the rewards which are available will be distributed in ways which correspond to the contributions various people have made.

Business as a whole needs to undergo a values resurgence. The era of the robber baron is past. What’s needed to move forward into the future with confidence are business executives and managers who will act ethically and constructively. If you find yourself in a position of trust, a good way to think is: