that made the company more relevant to today’s marketplace. Gucci created a shadow board composed of Millennials who, since 2015, have met regularly with the senior team. According to Bizzarri, the shadow board includes people drawn from different functions; they’re “the most talented people in the organization — many of them very young.” They talk through the issues that the executive committee is focused on and their insights have “served as a wakeup call for the executives.
We researched companies that use shadow boards, trying to understand what they really contribute to the organization and what best practices look like. We focus here on three companies’ experiences.. Facing increasing pressure from Airbnb, French AccorHotels needed a new business model. Top management asked marketing to develop a brand for Millennials. However, after two years marketing came up empty.
Many companies staff shadow boards exclusively through executive-committee nominations or with already identified high potentials. Millennial participants tend to prefer a more open process. Stora Enso’s Haggstrom pushed for an open-application process — allowing anyone who fit certain criteria to apply. Doing so not only created a more diverse cohort; it also allowed the company to discover some hidden gems who would not otherwise have been on the radar.
Great idea.. I hope to apply it as well.. will surely try Anand sir .. thanks
I've got five pipelines of data. With every country in the world sharing it. Hense the silence
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Where’s your control ?
Worthless promo - shame on you
What Gucci did is a great example of inviting DIVERSITY to the game. Companies, even the most innovative, have a tendency to focus internally and not externally. With millennials joining the Board Gucci brought an external point of view and unique contribution.
Nice! Innovative.
Funny how thinking outside the box and listening to other people of a different age group, sex, religious etc can bring in different ideas. groupthinkisbad
Can it work well with my Freelancing I truly need a good number of clients to work with. 136% is a great move with the current market trend
I wonder if this would work in healthcare?
… one size of anything well done does not mean every one is a fit … again and again, sigh is not a big enough word …
Excellent