Remarkably, since deciding to admit all
its mistakes, Virginia Mason has seen a 74 per cent reduction in its
liability insurance premiums.
managers look at the system they were operating in to
“see if we set them up to fail” and how to prevent repeats of the event
Safety innovations have included measuring how many steps nurses take. By
putting supplies where staff need them, the average number of steps taken by
an average nurse in a day was reduced from 10,000 to 1,200.
“Our organizations are less capable than the people inside them. Core-incompetency. Every organization today is still run on principles of hierarchy/bureaucracy.”
Institutions are embedded in the cultures, technologies, and infrastructures of their time
Today, competitive advantage is not based on stocks of knowledge, but having access to flows of knowledge to enable up-to-date information that enables adaptability.
Scalable efficiency has been a winning model for the past two centuries. However, it relies on centralized governing systems, rigid hierarchies, and a paradigm of long-term planning and forecasting.
While effective in times of stability and predictability, these systems break down during times of rapid change and uncertainty.
and the emergence of new social and technological infrastructures often catalyzes fundamental institutional innovations.
Survival—the most basic measure of performance—has become more and more challenging.
information asymmetry
it will drive us to reassess the entire architecture of relationships both within and across institutions.
Creating architectures of relationships reaching beyond the walls of our institution is one of the most powerful ways to tap into richer and more diverse flows of knowledge and accelerate learning.
scalable learning
o evolve institutional designs that explicitly seek to accelerate and amplify learning among a growing number of participants
your main constituencies are your employees, your customers and your products.
Making a profit is no more the purpose of a corporation than getting enough to eat is the purpose of life. Getting enough to eat is a requirement of life; life’s purpose, one would hope, is somewhat broader and more challenging.
n effect, shareholder value is obsolete. What we are seeing is a paradigm shift in management, in the strict sense laid down by Thomas Kuhn: a different mental model of how the world works.
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All you need to know about me: http://tinyurl.com/vahidm