Time to reinvent management

M-PRIZE WINNERS

We launched the inaugural Harvard Business Review/McKinsey M-Prize for Management Innovation nearly a year ago. Today, we are so proud to announce the grand prize winners as well as the “Management Innovator of the Year” Award.

The M-Prize is our call to management innovators (and aspiring management innovators) around the world to make a real difference when it comes to improving the technology of human accomplishment. We asked for real-world case studies (stories) and bold ideas (hacks) on three crucial challenges:

THE MANAGEMENT 2.0 CHALLENGE

How can the principles that undergird the Web (such as transparency, collaboration, meritocracy, openness, and community) and the approaches that contribute to its power (social technologies and architectures of participation including wikis, blogs, social networks, crowdsourcing initiatives, markets) be unleashed to overcome the design limits of Management 1.0—and help to create Management 2.0?

BEYOND BUREAUCRACY CHALLENGE

The Beyond Bureaucracy Challenge seeks to advance progress on making organizations genuinely fit for human beings—more inspiring, open, and free. What will it take to manage without managers and switch on the organization from edge-to-edge?

LONG-TERM CAPITALISM CHALLENGE

It’s time to radically revise the deeply-etched beliefs about what business is for, whose interests it serves, and how it creates value. We need a new form of capitalism for the 21st century. How can we accelerate the shift toward a capitalism that is profoundly principled, fundamentally patient, and socially accountable?

We received nearly 400 submissions of remarkable quality and diversity from leaders and innovators from every kind of organization around the world. We recognized 58 finalists and celebrated 24 winners across the three challenges.