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By Vlatka Hlupic (auth.)

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Additional resources for The Management Shift: How to Harness the Power of People and Transform Your Organization for Sustainable Success

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98 Traditionally, companies have been adopting risk avoidance, detailed planning, rules, stability and status quo. On the other hand, companies adopting emerging paradigms are open to experimentation, learning, reflection and managing on the edge. Detailed long-term strategic plans are impossible to produce due to constant changes in business environments. Managers cannot plan all details in advance – no one is that smart or has a clear crystal ball. A general direction for the future can be set, and people should be ready to adapt and evolve as environments change.

What are the examples of companies that have implemented inspiring management practices? 2 The Management Shift Organizations Today Face Unprecedented Challenges Organizations today are surfing on the edge of chaos. Markets change faster and faster, unforeseen influences require quick adaptation, and organizations constantly need to be one step ahead and to reinvent themselves. Many businesses, including small and medium-sized businesses, are becoming global, helped by advances in connectivity and digitalization.

This new approach to business and value creation is now more important than ever, as we are facing unprecedented challenges, as outlined in the following section. We have a problem! is O nl pa y 25 ssi % on o at f t e a he bo wo ut rk its for w ce or k Organizations, institutions and societies are going through a major crisis. 4 In the last 50 years, the average life expectancy of Fortune 500 companies has steadily decreased from 75 to 15 years. 6 The report “Management 2020”7 launched by the Commission on the Future of Management and Leadership and Chartered Management Institute in July 2014, reveals problems with management and leadership in the UK.

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