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What Really Works (HBR OnPoint Enhanced Edition) | 
 enlarge | Authors: Nitin Nohria, William Joyce, Bruce Roberson
Publisher: Harvard Business Review
Category: Book
Buy New: $6.50
Avg. Customer Rating:  15 reviews
Sales Rank: 1531722
Format: Download: Pdf
Media: Digital
Pages: 14
ASIN: B0000CDSA1
Publication Date: July 1, 2003
Availability: Available for download now
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Product Description
When it comes to improving business performance, managers have no shortage of tools and techniques from which to choose. But what really works? What's critical, and what's optional? Two business professors and a former McKinsey consultant set out to answer those questions. In a groundbreaking, five-year study that involved more than 50 academics and consultants, the authors analyzed 200 management techniques employed by 160 companies over 10 years. Their findings at a high level? Business basics really matter. In this article, the authors outline the management practices that are imperative for sustained superior financial performance--their "4+2 formula" for business success. They provide examples of companies that achieved varying degrees of success depending on whether they applied the formula, and they suggest ways that other companies can achieve excellence. Without exception, the companies that outperformed their industry peers excelled in what the authors call the four primary management practices: strategy, execution, culture, and structure. And they supplemented their great skill in those areas with a mastery of any two of four secondary management practices: talent, leadership, innovation, and mergers and partnerships. A company that consistently follows this 4+2 formula has a better than 90% chance of sustaining superior performance, according to the authors.
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| Customer Reviews: Read 10 more reviews...
 Science and nonsense September 25, 2008
1 out of 1 found this review helpful
I write this review to help general readers differentiate (imperfect but acceptable) science from nonsense. This book is highly readable, but it has a fatal flaw: it does not explain HOW the 4+2 practices REALLY works. At best, we are given anecdotal accoutns, but these are poor consolation if one is looking for linkages and evidence. And here's the problem with most business books: so called "excellent companies" in one period become Lehman Brothers and AIG in the next. Reason? We still don't know how management practices really work after searching through tons of bad writing.
 Read Chapter 1, then Your Done June 13, 2008
The authors' point is, if a company wants to be a "winner," they must excel at (a) 4 mandatory areas: strategy, execution, culture, and structure, and (b) any 2 out of the following 4: talent, leadership, innovation, acquisitions and mergers. All the other things, like 360 degree personnel reviews, management training programs, etc. are not consistently statistically significant.
This is the kind of book I would bring on a plane or car ride where I could skim through it. The writing style is journalistic and sensational. As another Amazon reviewer notes, the book uses a "hero" / "villain" format, which although entertaining, is somewhat naive. That's minus one star. The book's thesis is pretty much articulated in the first chapter. You could read that, and then follow up by reading other business books that better expound on one of these areas (e.g., Bossidy for Execution). Minus a second star.
 Useful and Practical February 18, 2008
0 out of 1 found this review helpful
This book is the result of a research with a large amount of companies regarding their management practices in a ten-year analysis. The main outcome from this work is that there are some practices that really have a strong positive impact in a company's success whereas others - even some glamorous ones - do not contribute to the achievement of its goals.
The division of companies in Winners, Climbers, Tumblers and Losers is very clever because it depicts the differences between them and provides a guide to evaluate any company according to its achievements / characteristics. It is interesting to apply the methodology to the everyday business news regarding global companies.
Examples are very illustrative, specially in chapters 2 ("Meet a Winner", describing Dollar General) and 3 ("Meet a Loser", about Kmart). In summary, it crucial to focus on a clear strategy, execute it through the daily activities, make it a cultural behavior and keep a flexible and flat structure. It is important to have talented people, leaders committed to business, cultivate innovation and search for growth considering mergers and acquisitions.
A useful 4 + 2 formula for business success July 5, 2005
3 out of 4 found this review helpful
Nitin Nohria is Professor of Business Administration at Harvard Business School, William Joyce is Professor of Strategy and Organizational Theory at Dartmouth's College Tuck School of Business, and Bruce Roberson is Vice-President of Marketing and Sales at Safety-Kleen in Texas and was a Partner at McKinsey & Co. This article was published in the July 2003-issue of Harvard Business Review.
In order to answer the question "What really works?" the authors decide to undertake a research effort, which they term the Evergreen Project. The Evergreen Project is a careful examination of more than 200 well-established management practices within 160 companies over a 10-year period (1986-1996). Although the research method is discussed in detail this article primarily discusses the findings from this project. "Our findings took us quite by surprise." The authors found that "winners" outperform excel at the four primary management practices: 1. Strategy: devise and maintain a clearly stated, focused strategy. 2. Execution: develop and maintain flawless operational execution. 3. Culture: develop and maintain a performance-oriented culture. 4. Structure: build and maintain a fast, flexible, flat organization. In addition, "winners" also master two of the four secondary management practices: (i) Talent: hold on to talented employees and find more. (ii) Innovation: make industry-transforming innovations. (iii) Leadership: find leaders who are committed to the business and its people. (iv) Mergers and acquisitions: seek growth through mergers and partnerships. "We call the winning combination the 4 +2 formula for business success." The authors point out that companies which consistently follow this formula have a 90% chance of sustaining superior business performance. Both the 4 primary and 4 secondary practices are discussed in detail. There is also a useful sidebar which explains how you can make the 4 + 2 formula work for your organization. "... we've developed a list of behaviors that support excellence in each practice." I believe that this sidebar is very useful as a checklist to remind from time to time what really works.
Yes, I do like this article. It introduces a `4 + 2 formula for business success' which highlights 4 fundamentals of business and 4 supplementary practices to the fundamentals. The formula, which is based on extensive research, is simple and easy to understand. I do believe that the "Making 4 +2 Work for You" sidebar is extremely useful and can be used as a checklist for senior management. I believe that this article, which was later followed by a book, is a useful addition to other research into high-performance organizations such as Tom Peters & Robert Waterman (In Search of Excellence, 1982), Jim Collins & Jerry Porras (Built to Last, 1994), Jim Collins (Good to Great, 2001). Recommended to all people interested in management and successful organizations.
Mixed feelings October 10, 2004
3 out of 3 found this review helpful
This book does a decent job fulfilling its mission, to reveal "What Really Works." And, from my experience, the authors are right on. Winning companies all have many things in common. Mostly, this is what Collins and Porras call "clock building" in "Built to Last:" designing an organizational architecture that grows, and maintains its integral core despite the changes in internal people and external strategies. "What Really Works" talks you through some of the steps necessary to make that clock. First, listen to what the customer wants. Then make filling that need your strategic focus. Make that value offering clear. Ensure that your controls and systems are top notch, so that employees can execute the strategy. Align the culture and organizational structure so performance is rewarded, again supporting the strategy. Once these major criteria are fulfilled, you can begin to think about secondary practices, namely developing people and leaders, keeping talent and innovating.
I am truly split on this Joyce and Nohria's work. It is well written and easy to read. I also like the companies presented in case studies. These weren't your typical 3M/GM/IBM/Dell case studies, but Nordstrom, Nike, and the Limited. Sort of warms my heart not to have to read the history behind Post-It-Notes for the 5000th time. But, I also have some serious issues with the book.
A former science geek in my undergrad years, I love precision. I like the thoroughness that the authors IMPLY went into the Evergreen Project. I say IMPLY, because, unlike Collins and Porras in "Built to Last," the authors do not tell us anything about their research methods. They also claim to have combed the literature and statistically eliminated all but eight of 200+ popular management practices. What were those 200+ practices? How did the Evergreen team research companies for the presence or absence of said practices? An appendix of research practices and results would be nice.
Weaknesses aside, I recommend this book on two counts. First of all, because I truly get the impression that there is some serious research behind the premises. And, if you accept the premises, the "Further Reading" section, grouped by books relating to each of the core practices, is worth the price of the book.
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