This is a case about culture change in a European bank. It highlights how its new CEO used organizational culture survey results to focus the organization on changing its systems and structures to support its new mission and values.
Employees in Foxconn’s business empire
Summary
Foxconn, a Fortune Global 500 giant and the world's largest electronics manufacturer, made headlines in 2023 by announcing a shift to a five-day, eight-hour workweek in its Chinese factories - a significant departure from its long history of extended work hours and grueling conditions. While this decision was celebrated by labor advocates as a critical step toward improving work-life balance, it sparked a complex debate among Foxconn employees. Many workers had come to rely on overtime pay just to make ends meet, as their basic wages barely covered essentials like rent and food. Foxconn had long faced criticism for pushing its workers to the brink, most notably in 2010, when 17 employees in China attempted suicide by jumping from company buildings, resulting in 14 tragic deaths. Despite this devastating toll, Foxconn's business growth remained unshaken. The company’s rise from a startup to the world’s largest electronics manufacturer is deeply intertwined with China’s massive influx of domestic migrant labor, where millions move to urban areas in search of better opportunities. This case delves into the reality of labor on Foxconn’s frontlines, exploring working conditions, compensation and living accommodations, as well as the far-reaching aftermath of the tragedies that shook both Foxconn and its clients, such as Apple. Beyond China, Foxconn’s global operations have faced similar scrutiny, and as the company expands into regions like India, it confronts new challenges. Cultural and regulatory differences further complicate its labor issues. This case highlights the critical tension between safeguarding worker dignity and well-being while meeting the relentless demands for productivity - whether in developed or emerging economies. As Foxconn continues to evolve and reshape its labor practices, the question remains: How can companies maintain profitability while ensuring the dignity, safety and well-being of their workforce?
Reference
IMD-7-2584
Copyright
©2024
Copyright owner
IMD Copyright
Organization
Foxconn
Industry
Manufacturing
Available Languages
English
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Se il manager sceglie di centralizzare la catena decisionale
Summary
September 2024 marks a turning point in corporate management and a drama in the management world, which began with an essay by Paul Graham, patron of Silicon Valley's leading startup incubator, Y Combinator.Graham coins a new paradigm, the founder...
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How emotional intelligence is the best defence against GenAI threats
Summary
Emotional intelligence is essential for recognizing and managing artificial intelligence (AI) enabled manipulation, especially in scams. Organizations should train employees to spot emotional triggers and practice reflection to mitigate generative...
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Prudence in a maze of metaphors
Summary
“Prudence in a maze of metaphors” follows a fictional day in the life of a woman to explore a variety of challenges individuals commonly face in their professional environments. Prudence’s story uses metaphors such as Sticky Floor, Glass Ceiling, ...
Reference
IMD-7-2612
Copyright
©2024
Copyright owner
IMD Copyright
Available Languages
English
Contact
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Why your past is key to understanding the leader you are today
Summary
Shlomo Ben-Hur and Nik Kinley reveal how our default instincts, shaped by childhood experiences, can help us to understand our leadership styles.
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To become a better leader, learn to master emotions hardwired from childhood
Summary
We are all at the mercy of behaviors ingrained from our earliest years. Nik Kinley and Shlomo Ben-Hur offer practical steps to help you identify and overcome your emotions to reach your full potential
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責任あるAIを組織に実装する4つのステップ
Summary
In Europe, AI regulation laws have been approved, and the establishment of AI ethics and the incorporation of responsible AI into organizations have become urgent issues for companies. However, putting this into practice is by no means easy. There...
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Are you a pessimistic leader? Brain science shows how to recognize and change it
Summary
Are you more of an optimist or a pessimist? It’s important to realize because as a leader, it can affect not just you and how you think, but also the culture you create and what the people you lead focus on. We can all be pessimistic sometimes, in...
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What sets genius teams apart: A look at the psychology of the most effective executive teams
Summary
The most successful executive teams can achieve outsized outcomes, but they can also be challenging to manage and be a part of. The author, a psychologist who has worked with executive teams for over 20 years, explains what sets the best teams apa...
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Governance at WeWork: Adam Neumann’s erratic behavior
Summary
This is a fascinating case about Adam Neumann’s problematic behavior, which led to the downfall of WeWork, once one of America’s most valued startups.
Reference
IMD-7-2591
Copyright
©2024
Copyright owner
IMD Copyright
Organization
The We Company
Industry
Services, Real Estate
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications