The hyper-competitive global marketplace of the 21st Century demands that organizations act in new ways. As companies such as GE are demonstrating, corporations must simultaneously 1) be innovative with products, processes and business models, 2) abandon activities that no longer make sense, and 3) perform the activities they continue as efficiently as possible. To accomplish this, a management framework is needed. This paper makes the case that a management framework is necessary to achieve this: one that prescribes the necessary organizational structures, decision-making processes and information at every level, from the board to the project team.
