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Few people look forward to performance reviews. Subordinates are worried that they will hear only bad things about themselves and bosses are worried that their direct reports will be angry, break down in tears or just clam-up at the slightest criticism. All in all, reviews usually end up being a lost opportunity for learning, according to the authors, who then go on to make proposals on how to change this.
Written by the long-standing CEO and later Chairman of the British retail bank Lloyds TSB, the article describes how focussing on a single, clearly defined and widely understood goal can lead to major value creation for all stakeholders and a transformation of company´s culture.
Well-off consumers are able and prepared to pay premium prices for products of higher quality and taste. Understanding what these consumers really want offers a big opportunity for profit and growth.
How can you plan for crises which are so awful that they defy the imagination …that is, until they have actually occurred? This article looks at some simple tools that are designed to help managers to think about the unthinkable, before it happens.
Most of us associate Research and Development with people in white coats standing in laboratories. And we are certainly unlikely to think of the service sector as indulging in “real” R & D of any kind. But an American bank is proving that good service development can be as controlled and structured as classical product development.
The HBR continues its tradition of publishing a list of what it sees as the five hottest ideas in business at the moment. It does not claim to be comprehensive or definitive – it is simply a slant on some of the important things that business executives might want to be thinking about in the near future.
Focussing on the career successes of Bill Bratton, a police chief based until recently in New York, the authors describe how he has repeatedly transformed the performance of police organisations around the US by capturing the interest of a critical mass of enough people in the organisation to reach the so-called “tipping point”, after which real change will set in.
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