What Matters Now

About the Author

Gary Hamel is a renowned business thinker and strategist, having been on the faculty of the London Business School for nearly three decades. He is the founder of The Management Lab, a California-based think tank. Hamel's extensive work includes writing numerous articles for prestigious publications such as the Harvard Business Review, the Wall Street Journal, Fortune, and the Financial Times. His pioneering effort in management innovation is epitomized by The Management Innovation eXchange, aimed at revolutionizing management through open innovation. Hamel's influence extends through his five books, including the acclaimed What Matters Now.

Main Idea

In What Matters Now, Gary Hamel passionately urges a reevaluation of fundamental assumptions about management, work, and organizational life. He identifies five paramount issues that will determine the future success of organizations: values, innovation, adaptability, passion, and ideology. Hamel asserts that these elements are critical in a world characterized by relentless change, fierce competition, and unstoppable innovation.

Table of Contents

• Values Matter Now
• Innovation Matters Now
• Adaptability Matters Now
• Passion Matters Now
• Ideology Matters Now

Values Matter Now

At the heart of Hamel's argument is the need for a strong ethical foundation in capitalism. He emphasizes that trust in large organizations is at an all-time low, necessitating a rebuilding of ethical standards. Hamel states, "What matters now, more than ever, is that managers embrace the responsibilities of stewardship." He elaborates on the concept of stewardship, which includes:

1. Fealty: Viewing talents and resources as a trust rather than a means for personal gain.
2. Charity: Putting the interests of others ahead of one's own.
3. Prudence: Safeguarding the future while taking advantage of the present.
4. Accountability: Taking responsibility for the systemic consequences of one's actions.
5. Equity: Ensuring that rewards are distributed based on contribution rather than power.

Hamel underscores the importance of high ethical standards, especially for global leaders, and argues that these standards should be exemplary.

“Because the decisions of global actors are uniquely consequential, their ethical standards must be uniquely exemplary.” - Gary Hamel

Innovation Matters Now

Hamel champions innovation as the cornerstone of progress and survival in today's competitive landscape. He reminds us that innovation is the engine of prosperity, noting, "We owe our prosperity to innovation." He argues that organizations must prioritize innovation to remain relevant and thrive.

Hamel uses Apple as a prime example of innovation in action. Over the past decade, Apple has reinvented multiple industries, including computing, music, retailing, and mobile phones. He attributes Apple's success to its values, which include:

• Passion: The tireless pursuit of a noble ideal.
• Leadership: Challenging the status quo and redefining industries.
• Surprise: Exceeding customer expectations and creating delight.
• Unreasonableness: Transcending trade-offs and striving for the impossible.
• Incessant Innovation: Making innovation the core of everything the company does.
• Attention to Detail: Focusing on the small things that make products exceptional.
• Artistic Sensibility: Combining engineering precision with artistic creativity.

Hamel emphasizes that innovation should not be a side project but a pervasive element in an organization's culture and strategy.