This year’s Management Innovator Award was won by a team of experimenters for their unconventional approach to organization governance. The Budapest-based Society of Management Innovators announced the results of the international competition on the 16 December.
In May this year, the Society of Management Innovators opened the Management Innovator Awards with the aim of investigating and celebrating the most innovative leadership, organization governance and human resource management practices. 22 projects were submitted in the first round of the competition. Some of the presented case studies were from distant countries such as Brasil or Malaysia, while many applicants represented Hungary. Both non-profit and for-profit organizations, services and industrial companies were represented in the competition. Members of the international Jury were Annicken R. Day, Gergely Hodicska, Dr. József Poór, DSc., Annemie Ress and Kim Spinder. 8 projects made it to the second round, after which the Jury made its decision about the first 3 winners. Another 2 projects won the Budapest Business Journal Special Award and the Audience Award.
Knowledge sharing in a stylish way
Our main objective was to collect and share real-life case studies that represent the latest trends of innovative management practices. The best applications represented various topics such as innovation management, engaging leadership, strategic controlling as well as multi-generational management practices – declared Anna Márkus, Program Director of the Awards. Besides a detailed description, each project was presented in a 2-minute video and a poster presentation, which are available for the public on the Awards’ website, where the audience could make their votes, too.
„Share more to own more”
This was the motto of the award-winning project, which was submitted by Lab.Coop. Employees of the software development agency receive stock shares after each month they spend at the company. This is how founders of the company ensure growth and that the most talented software developers join and stay at the company. Their management approach is based on holacracy, which involve radical transparency (even in regards of salary information) and sharing decision authority among all employees. Employees can spend 20% of their time on individually designed personal development activities that means a 2000 EUR/year/employee investment. The results speak for themselves: within one year partners of the company increased to 20 from 6 and consequently office space was extended, too. Learning from their earlier fall through the two founders decided to build a company co-owned with their employees. Lab.Coop have started building 3 new companies in the last few months.
Flow Leadership & Serious Games
Central European Business School won the second place of the Management Innovator Awards. Their revolutionary approach to leadership development was co-developed with Professor Mihály Csíkszentmihályi. The on-line simulation game also won first place at the Serious Play Conference in the US. During the sophisticated simulation, participants can live through the „flow” state, experience its positive effects on their performance as well as learn how to consciously apply it in business environment. They make classic leadership decisions, while managing an imaginary company. At the end of the game they receive precise development feedback on their performance, the individual and organizational effect of their decisions and the flow-state of their co-participants. Specialty of the platform that it can evaluate and analyze 10 thousands of participants’ behavior and contribute to the development of researches on leadership science.
Fuel Station Ville – Development tracking system redefined
Gamified learning platform of BP & Games for Business was awarded by the third place by the international Jury. At Fuel Station Ville employees of BP can develop their company-specific knowledge by an individually designed development program. They can test their knowledge, build their network, participate in the operations of the knowledge sharing platform and can proceed in their talent development program. Special advantage that it is a gamified solution which makes learning more enjoyable and employees can develop their skills in their own pace. Participants receive feedback about their performance in multiple ways. The game has a special reward system and employees may receive presents as well.
Corporate Innovation Accelerator
Leadapreneur received the most audience votes and therefore won the Audience Award with their Corporate Innovation Accelerator project. Leadapreneur employees generated altogether 246 thousand USD innovation at a Cambodian company. They believe that innovation should rather be practiced than taught. They presented a 3-phase one-year long complex program which is an innovative organizational development and culture change project that enables companies to generate innovations rapidly resulting in measurable business development.
Introducing a Transparent Salary System inside the company
The special award of Budapest Business Journal goes to the Transparent Salary System of Neticle Technologies. The leaders of the start-up specialized in media monitoring and analysis are strongly committed towards fairness, openness and transparency. Therefore, they developed a salary system that treats employees on an equal footing. Compensation consist of a base salary and a performance based bonus that are all transparently published on the intranet. Bonuses may represent 10-50% of the base salary. Thanks to transparency tensions decreased, trust enhanced and performance increased at the company.
Let’s celebrate innovators!
The international Jury found the submitted projects up to par. They reinforced that many researches had found that employees are dissatisfied with their workplaces therefore management paradigms need to be reconsidered. We need pioneers who question the outdated status quo. This requires courage which deserves recognition. It is important to present innovators and their new approaches to inspire leaders and professionals to new ideas and provide opportunity for knowledge sharing. The earlier these new innovations get published the earlier they may get into everyday practice and contribute a more successful and more healthier organizations as well as happier employees.
The Society of Management Innovators was founded with the mission of contributing to the innovation of local and international management approaches and practices through its professional and academic activities. The significant technological, economic and social changes we face with nowadays bring a whole new set of challenges to today’s organizations that makes it necessary to re-evaluate our current paradigms and develop new approaches to management philosophies and practical methodologies. We find it crucially important to represent a holistic approach taking into consideration not only the economic but the wider social impact of organizations’ activities and to create value not only for organizations but for the society as well.