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The HBR lists twenty ideas that it believes will shape business in the coming years. Whilst some are rather predictable, others are thought-provoking and refreshingly down to earth. Here is an overview of some of the more interesting ones. The last one is particularly entertaining.
The CIO is still the least understood person on the board and Information Technology continues to promise more than it seems to deliver, at least in the eyes of the other members of the management team. The authors present three central principles towards turning your IT into a powerful weapon for the good of the company.
A once high-flying, publicly-owned consultancy is struggling with its revenue stream, the demands of the Wall Street analysts and SEC legislation. Furthermore, much of their employee compensation is based on stock options, and the share hasn´t been doing too well lately. The temptation is to return to being a private company. Should they or shouldn´t they? Four experts give their opinion.
The need to implement a new strategy is often recognised in a company, but the implementation itself gets torpedoed by cynicism borne out of employees´ repeated experience with failed initiatives and a lack of honest discussion about how to get the job done. The authors present a “strategic fitness process” designed to enhance executives capacity to implement strategy quickly and effectively.
Joint ventures can be ideal for managing risk in uncertain markets, sharing the cost of large-scale capital investments and injecting new spirit into a mature business. But in over 2000 joint ventures studied by the authors over the past decade, only 53% were deemed successful. Here they make some suggestions on how to help improve this figure.
Unlike financial and physical assets, intangible assets, such as knowledge and skills, are difficult for competitors to imitate, which makes them a powerful source of competitive advantage. Although measuring their value is difficult, finding a way to estimate their value could enable managers to steer their companies far more efficiently. The authors, who originally developed the Balanced Scorecard, propose a way of getting closer to the goal.
Pursuing success is like shooting at a series of moving targets – every time you hit one, five more pop up from elsewhere. And to make it even more frustrating, standards and examples of what is “success” constantly shift. The authors studied hundreds of high achievers who have realised lasting success by understanding what success is really about, and describe a framework to help transfer this insight to others.
The article looks at the relationship beween Non-Governmental Organisations and big industry. Often viewed by industry as pests, the author suggests that working with NGO´s may be more productive than swatting them and may even give your company a competitive edge. Although some are populated by radical idealists, many are staffed by educated thinkers who are ready to cooperate.
Few leaders, even experienced CEO´s, can do their job in isolation – they need a confidant who they trust and with whom they feel they can share their innermost thoughts and fears. Some of these relationships work well over an extended period, but many go wrong, which can be a catastrophe for all involved - and the affected leader is often the last to notice.
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