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Under the frame of What Really Works, a not-for-profit organization in Vietnam is analyzed
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LEADERSHIP & MANAGEMENT
What really works: Understanding & explaining organizational success
Tran Gia Thoai s3372716Vuong Gia Bao s3374021Nguyen Dang Thanh Hung s3221642
Lecturer: Derek Thitsanuthit
Content
Introduction of 4+2 formula
• Origin
• 8 practices
Applying to BSA - a local business
Strengths and Weaknesses of 4+2
Suggestions
• How to use
• A revised and improved formula
RMIT University©10/04/2023 2
The 4+2 Formula
•From Evergreen Project (1986-1996)
•Authors: William F. Joyce, Nitin Nohria, Bruce Roberson
•Methodology: mainly statistics and interviewing
•Result: 8 common practices for success
• Implication: applying 4 primary and 2 of 4 secondary practices
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The 8 Practices
Primary:
Strategy Execution
Culture Structure
Secondary:
Talent Innovation
Leadership Mergers & Partnerships
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The Leader’s Background
Ms VŨ KIM HẠNH
• Editor-in-chief of Tuổi Trẻ newspaper (1990s)
• Director of ITPC of Ho Chi Minh city until 2007
• Founder of Vietnam’s High Quality Goods
program
• Founder and Director of Business Studies &
Assistance Centre (BSA)
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Primary Practices
1. Strategy
• Clear value proposition & Good outside-in development• Developing responsiveness to external feedbacks.
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Marketmovements
Government Policies
Projects’ results
Customers’operation
INFORMATION
Figure 1: Sources of information
(Source: Reproduced from the interview with Ms Hanh)
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Draft Plan
Experts
Customers
ACTIONPlan
Figure 2: How BSA come up with services?
(Source: Reproduced from the interview with Ms Hanh)
Primary Practices
2. Execution
Services tailored to meet customer expectation.
- Standardisation
- Full time employment vs Part-time specialists
Partial empowerment
- Ms Hanh: whether a project should be conducted,
continued or changed.
- Project managers: how to use resources for the project
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RMIT University©10/04/2023 9
Information
Networking opportunities
Supporting facilities
Finance
BSA provides
Performance 1
Performance 2
3. Culture
Finance
Passion
Recognition
Employees’ expectation
Career path
Source: Reproduced from the interview with Ms Hanh
Primary Practices
GAP
4. Structure
HR
Finance
Accountant
Communication
Project manager 1
Project manager 3
Director Experts
Project manager 2
Primary Practices
Source: Reproduced from the interview with Ms Hanh
Secondary Practices
Talent
• Plans to develop employees, but
• Unsuccessful internal promotion
• Inefficient training programs
Innovation
• First-time projects in Vietnam, and
• Terminate inefficient ones after 3 unsuccessful attempts
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Secondary Practices
Mergers and Partnerships
• Win-win approach
• Joint resources
• Focus on developing core competency
Leadership
• Performance-based payment
• Relationship-development focus
• Ability to realise and respond to changes
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Conclusion from the interview
Practice Policy Implementation
STRATEGY good good
EXECUTION good average
CULTURE good poor
STRUCTURE good good
TALENT good average
LEADERSHIP good good
INNOVATION good average
MERGERS & PARNERSHIPS good good
RMIT University©10/04/2023 13
2 + 2STRATEGY
STRUCTURE
LEADERSHIP
Mergers & Partnerships
Strengths of 4+2
• Based on statistics.
• Easy to understand and get the points.
• Some practical examples provided.
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Weaknesses of 4+2
• Credibility of theory (correlation & causal relationships
problem, methodology, qualitative issues, narrow
definition of success).
• Not action-oriented
• LEADERSHIP is more important than stated in 4+2
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Suggestions
• Only a tool - not a definite answer
• Reference only
• Still useful to reflect on performance
• Consider other theories to build holistic action plans.
• To sufficiently emphasize the vital role of Leadership, the formula
should be changed to 1+4+1, with Leadership at the core of an
organization's operation.
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1+4+1 formula
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LEADERSHIP
Conclusion
• In general, 4+2 formula apply to our interviewee
but not all of them.
• Most people know but not everyone can do.
• Framework to evaluate how a business is being
managed.
RMIT University©10/04/2023 18
References
• Nohria N., Joyce W., Roberson B. 2003 What really works? The 4+2 formula for sustained business success”, HarperCollins, New York
• Nohria N., Joyce W., Roberson B. 2003 ‘What really works?’ Harvard Business Review, July, pp43-52
• The Complexities of Business, BUSM2411_4000 Leadership and Management (MBA), RMIT International University, unpublished.
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