Global Best Practices
Key outcomes of the master class in Moscow by Professor Joshua Ault (June, 2017) Whereas the creation of new “business best-practices” is often seen as innovative, creative, and visionary, the transfer of these practices from one organization to another is seen as easy, passive, and unoriginal In reality, however, successful imitation of external practices is itself challenging and innovative It is hard to know how the pieces of the practice fit together, which pieces are critical and which are insignificant, and how they will fit with the new location. E.g., when Wal-Mart tried to replicate its best U.S. practices in Germany it lost $1b and withdrew after 9 years. Lessons from professor Ault’s proprietary research: 1. Proceed cautiously when mixing and matching best practices 2. Be aware that many practices come from the U.S., which may be an outlier (e.g., the government is rarely involved in business) 3. View the replication of best practices as a complex, entrepreneurial process 4. Avoid rigid formulae and rely instead on critical thinking when executing the transfer We may also want to put in a point that the presentation led to intriguing conversations among the participants and a strong interest in the exercises Professor Ault uses to teach the critical thinking skills necessary to achieve these goals.
Key outcomes of the master class in Moscow by Professor Joshua Ault (June, 2017) Whereas the creation of new “business best-practices” is often seen as innovative, creative, and visionary, the transfer of these practices from one organization to another is seen as easy, passive, and unoriginal In reality, however, successful imitation of external practices is itself challenging and innovative It is hard to know how the pieces of the practice fit together, which pieces are critical and which are insignificant, and how they will fit with the new location. E.g., when Wal-Mart tried to replicate its best U.S. practices in Germany it lost $1b and withdrew after 9 years. Lessons from professor Ault’s proprietary research: 1. Proceed cautiously when mixing and matching best practices 2. Be aware that many practices come from the U.S., which may be an outlier (e.g., the government is rarely involved in business) 3. View the replication of best practices as a complex, entrepreneurial process 4. Avoid rigid formulae and rely instead on critical thinking when executing the transfer We may also want to put in a point that the presentation led to intriguing conversations among the participants and a strong interest in the exercises Professor Ault uses to teach the critical thinking skills necessary to achieve these goals.