The old rules still apply. But to win in the new world, leaders must understand their constituents’ state of mind, says Gallup’s chairman and CEO.
Jim Clifton, Gallup's chairman and CEO, says businesses have, in most cases, maximized every possible benefit from practices based on neoclassical economics, such as Six Sigma, reengineering, and total quality management. The significant competitive advantages from these practices have hit a point of diminishing returns, he adds. Most well-run companies have wrung almost every efficiency they can from their operations -- and their competitors have too. So have we reached the end? Are there no worlds left to conquer?
In America, Europe, Japan, most of the benefits have been squeezed out of process improvement and neoclassical economics.
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