64 percent of German world market leaders have a corporate culture in which executives act as partners and mentors instead of relying on “command & control.” And that pays off economically: Among the top performers, only around one in four companies is still managed in a traditional sense, while the majority of companies with below-average returns maintain a classic position. These are the results of the study “Best Strategy 2018: What German world market leaders do better.” Management consultancy Staufen surveyed a total of 210 German companies, which are among the world market leaders either in their industry or their segment.
“Anyone who wants to stay among the best in the future depends on the knowledge and innovative strength of all employees. In order to leverage this potential, the corporate culture must be right,” says Wilhelm Goschy, Member of the Management Board at Staufen AG. “As our study shows, most of the world market leaders are already on the right track. More than 80 percent of companies encourage their employees to contribute their ideas, work continuously on improving structures and see themselves as learning organizations in general.”
Especially when it comes to leadership, however, it is always important to make a precise distinction between good intentions and genuine sustainable implementation. The Staufen study provides clear indications that there is still room for improvement among world market leaders. For example, only three out of four companies have an open door culture. And constructive criticism of superiors is part of the day-to-day for only 68 percent of world market leaders.
“Particularly in the case of high-yielding companies, we are talking about complaints at a high level, and without the appropriate corporate and management culture, most of the other companies we surveyed would certainly not have made it to the top,” says Staufen Board Member Goschy. “And yet the clear differences within this group, which at first glance appears homogeneous, show how the top management’s understanding of leadership has a decisive influence on a company’s ability to change and thus its future viability.”
Mechanical Engineering Congress on November 6th at SEW-EURODRIVE in Bruchsal
The field of mechanical engineering is undergoing a serious transformation. Digitization is increasingly determining company-owned processes, while also opening up new business opportunities. Many companies, however, are still highly uncertain about the benefits of digitization and the success of new business models. The Mechanical Engineering Congress organized by Staufen AG in cooperation with SEW-EURODRIVE therefore focuses on the following questions: How does mechanical and plant engineering approach this transformation process? How do companies develop smart products and new business models? And how do they implement them – also in an international context?
On November 6, 2018 in Bruchsal, decision-makers from the mechanical and plant engineering industry will present benchmark examples from their organizations with reports on their experiences, lessons learned and success stories. All Information about the event: www.maschinenbaukongress.de
