book: Fair Process: Managing in the Knowledge Economy (HBR OnPoint Enhanced Edition)

book: Fair Process: Managing in the Knowledge Economy (HBR OnPoint Enhanced Edition) | W. Chan Kim, Renee Mauborgne

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Fair Process: Mana...

	Fair Process: Managing in the Knowledge Economy (HBR OnPoint Enhanced Edition) W. Chan Kim, Renee Mauborgne Harvard Business Review, 2000 - 13 pages view larger image
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Unlike the traditional factors of production--land, labor, and capital--knowledge is a resource that can't be forced out of people. But creating and sharing knowledge is essential to fostering innovation, the key challenge of the knowledge-based economy. To create a climate in which employees volunteer their creativity and expertise, managers need to look beyond the traditional tools at their disposal. They need to build trust. The authors have studied the links between trust, idea sharing, and corporate performance for more than a decade. They offer an explanation for why people resist change even when it would benefit them directly. In every case, the decisive factor was what the authors call fair process--fairness in the way a company makes and executes decisions. Fair process may sound like a soft issue, but it is crucial to building trust and unlocking ideas.

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