Keywords
Citation
(2001), "Hidden Value", Work Study, Vol. 50 No. 5. https://doi.org/10.1108/ws.2001.07950eae.004
Publisher
:Emerald Group Publishing Limited
Copyright © 2001, MCB UP Limited
Hidden Value
Hidden Value
Charles A. O’Reilly III and Jeffrey PfefferHarvard Business School PressISBN 0-87584-898-2£27.50Keywords Companies, Success, Competitive advantage
Why do popular management fads fail to provide competitive advantage that lasts? This is a common question and one the authors try to address here. In exploring the issue, they examine the characteristics of eight organisations; South West Airlines; Cisco Systems; Men's Wearhouse; SAS Institute; PSS World Medical; AES; New Unit Motor Manufacturing Inc. and Cypress Semiconductor. In doing so, they attempt to discover in the words of the book's subtitle, How Great Companies Achieve Extraordinary Results With Ordinary People.
The answer they come up with is simple; "The key to success isn't simply in knowing something but in implementing it".
Now, that may not be revolutionary or even revelatory, but the authors go on to explain that the successful firms'; studies have turned the established logic on its head. Rather than moving from a business strategy through the alignment of the organisation with this strategy and onto the hiring of people to fit the organisation, these organisations have begun by being absolutely clear about their values and how these values will define their organisations and determine how they are run.
It sounds simple, but isn't. It is difficult to sustain over a long period of time, and the authors acknowledge that nothing guarantees permanent success, even when getting the above message right. They do suggest ways of "getting it right" and the book offers some detailed suggestions that might be of real benefit, if the will is already there.