Five Innovative Ideas for Managers

Managers do a lot of learning on the job. Why not supplement that process with good ideas from other managers? Here are five management ideas from Good Ideas which seem sensible and applicable:

1) Balancing Innovation and Execution

How does an organization balance the need to innovate with the need to execute on current projects? Eric Schmidt at Google imposes the 70 / 20 / 10 rule for percentage of company resources spent on core business / new businesses / speculative efforts. Wikipedia: http://en.wikipedia.org/wiki/70/20/10_Model

2) “Screw Up As Fast As Possible

In a Wired cover story, management at Pixar describes how they tolerate (expect) mistakes, but have systems in place to correct them quickly. Wired http://bit.ly/baP5VP

3) Abolish Budgeting

Believe it or not, UBS decided to stop judging employees against pre-determined budgets, and start judging them against previous results and their peers, making all figures public. Growth accelerated. Wired Magazine http://bit.ly/c1YS1J

4) Use “Walking Meetings” for Creativity & Perspective

Walk around the block with colleagues, rather than sitting in the office, for planning or problem solving discussions.

5) Don’t be Obsessed with Profits

Some internet companies “do what’s cool” as the main component of their business plan. NYT: http://www.nytimes.com/2006/04/02/business/yourmoney/02frenzy.html

Feel free to vote or comment on these ideas, as well as adding your own, on Good Ideas!