In May of 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.
Twenty-two projects were submitted in the first round of the competition. 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. Eight projects made it to the second round, after which the jury made its decision about the first three winners. Another two projects won the Budapest Business Journal Special Award and the Audience Award.
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 two-minute video and a poster presentation, which are available to the public on the Awards’ website, where the audience made their votes.
This was the motto of the award-winning project, which was submitted by Lab.Coop. Employees of the venture builder receive stock shares in exchange for investing certain parts if their benchmark market salaries. 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 involves sharing decision authority among all employees, complemented with radical transparency (even in regards to salary information). 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 an earlier failure, the two founders decided to build a company co-owned with their employees. Lab.Coop has started building three new companies in the last few months.
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 online 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 tens-of-thousands of participants’ behavior and contribute to the development of researches on leadership science.
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.
Leadapreneur received the most audience votes and therefore won the Audience Award with their Corporate Innovation Accelerator project. Leadapreneur employees generated $246,000 towards innovation at a Cambodian company. They believe that innovation should be practiced rather 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.