Research Feature

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Strategic Choices in Converging Industries

As industries converge and seemingly unrelated businesses suddenly become rivals, managers must understand the new challenges and the long-term implications. A six-year study of convergence in the telecommunications, information technology, media and entertainment sectors by the authors shows that savvy companies choose one of four strategic paths: they become a technology pioneer, a market attacker, an ecosystem aggregator or a business remodeler.

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Should You Punish or Reward Current Customers?

Should you offer your best prices to new customers or existing ones?

Recent research suggests that the answer depends on customers’ shopping flexibility and the degree to which customers’ value varies.

When consumer preferences are highly fluid and the highest-value customers are much more valuable than others, then companies should reward their best existing customers. But if either of those characteristics is not in place, companies should offer their best prices to new customers.

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Capturing the Value of Synchronized Innovation

How can companies coordinate their product development efforts? Research by Jason P. Davis (MIT Sloan School of Management) shows that synchronization can take three forms: proactive planning with partner organizations; reactive action to signals by other companies; or combining these two in a hybrid. Each approach has its own implementation costs and challenges. Moreover, the network of relationships that already exist within an industry affects how quickly synchrony emerges.

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Free Article

The Executive’s Role in Social Business

A majority of respondents to a survey by MIT Sloan Management Review and Deloitte say that their companies’ social capabilities are at an early stage of developing social capabilities. However, executives are increasingly recognizing the value of social business to their organizations, and a majority of C-suite respondents believe that social business represents an opportunity to fundamentally change the way work gets done.

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Navigating the Politics and Emotions of Change

Skepticism, fear and panic can wreak havoc on any change process. But proactively addressing these types of feelings can ease resistance and disengagement. Research shows that executives can successfully initiate change initiatives by mapping the political landscape to identify the key stakeholders who will be affected by the change and the key influencers within each stakeholder group. They should also involve influential early adopters and engage with skeptics.

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How to Overcome a Power Deficit

Many factors can cause a talented executive to be ignored or sidelined within an organization. “The fact that I was right didn’t matter,” said one manager whose recommendations went unheeded. “What I hadn’t done was build sufficient internal credibility.” Fortunately, power deficits in legitimacy, critical resources and/or networks can almost always be overcome. Research looking at 179 executives found two basic strategies that worked: “playing the game” more effectively or ”changing the game.”

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Analyzing Performance in Service Organizations

We can’t always trust our intuition about how employees will perform. Intuition can be misleading, or just plain wrong. So a growing number of savvy service businesses have investigated the use of a sophisticated linear programming technique called DEA, or data envelopment analysis. Authors H. David Sherman and Joe Zhu, who call DEA “balanced benchmarking,” write that the technique helps companies locate best practices not visible through other management methodologies.

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Designing Trustworthy Organizations

A lot of the literature about trust supports commonsense notions for individual leaders. But building organizational trust turns out to be different from building interpersonal trust — and less intuitive. “A new model is required to understand how to manage trust in large, complex organizations operating in highly diverse global environments,” write the authors. Once trust is broken, repair requires understanding the systemic causes of the failure and confronting deeply embedded mindsets.

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Free Article

Competing in the Age of Omnichannel Retailing

Recent technology advances in mobile computing and augmented reality are blurring the boundaries between traditional and Internet retailing, enabling retailers to interact with consumers through multiple touch points and expose them to a rich blend of offline sensory information and online content. In response to these changes, retailers and their supply-chain partners will need to rethink their competitive strategies.

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How Caesars Entertainment Is Betting on Sustainability

Caesars Entertainment uses a scorecard to guide managers in its sustainability efforts. Developing the right scorecard took time, but it gave corporate managers an opening for sustainability discussions. Numbers also showed that the more information hotel and casino guests had about the things the company was doing to reduce energy consumption, recycle waste and rebuild the local community, the better they felt about the company — and the more inclined they were to visit again.

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How Innovative Is Your Company’s Culture?

Everyone wants an innovative corporate culture, but how do you develop one? This article posits that the ability of a culture to support innovation depends on six key building blocks: values, behaviors, climate, resources, processes and success. The article also includes a 54-element test developed to enable managers to assess a company’s “Innovation Quotient.” A case study in the article outlines the experience of a Latin American company with the assessment tool.

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Outsourcing Business Processes for Innovation

Although many organizations initiate business process outsourcing to reduce costs or acquire new skills, it can evolve into much more. Sometimes, service providers deliver substantial long-term improvements to the client’s operating efficiency and strategic performance. But these improvements seldom happen unless clients and providers implement a process that combines acculturation across organizations, a method for generating ideas, adequate funding and a system for managing change.

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Reinventing Employee Onboarding

Wipro BPO, a business process outsourcing firm in Bangalore, India, was experiencing high turnover rates. In Wipro’s traditional onboarding program, new employees learned about the company. But when the onboarding focused, instead, on individual identity, employees were more than 32% less likely to quit their jobs during the first six months. The bottom line: By making small investments in socialization practices, companies can improve employee retention.

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Experiments in Open Innovation at Harvard Medical School

This article examines an experiment in open innovation applied to scientific research at Harvard Medical School. Harvard Catalyst, a pan-Harvard agency, modified the traditional grant proposal process to bring greater openness into every stage of research. In the end, 150 new hypotheses were proposed. The Harvard Catalyst experience suggests that open-innovation principles can be applied to a well-established research organization.

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The Trouble With Too Much Board Oversight

The high-profile scandals of the late 1990s have increased the oversight duties of independent directors. Has the increased focus on board oversight improved the quality of board monitoring? And can board oversight become detrimental to desirable objectives? This article focuses on three aspects of oversight: design and implementation of suitable executive compensation packages; removal of underperforming CEOs; and disclosure of earnings that reflect the company’s true financial conditions.

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Image courtesy of Flickr user BenLucier.
Free Article

Optimizing Your Digital Business Model

A company’s digital business model describes how the enterprise interacts digitally with its customers to generate value. If you lack a good digital business model, your customers may leave you behind. This article presents a framework to help enterprises compete digitally with three capabilities: their content, customer experience and platform. The framework is illustrated with case studies of top performers like Amazon, Apple, LexisNexis and USAA and results from an effective practices survey.

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How Much Does a Company’s Reputation Matter in Recruiting?

When it comes to recruiting, few studies examine the degree to which a company’s social reputation or other aspects of its reputation are more or less important than other, more utilitarian job choice factors. When a survey task simply asks people to rate the importance of a laundry list of job attributes such as corporate social responsibility, it hides the marginal value of each attribute to the potential employee. There is every indication it is not a case of one size fits all.

Image courtesy of Flickr user Robert Scoble.

Managing the Human Cloud

Online crowdsourcing platforms are growing at double-digit rates and are starting to attract the attention of large companies. Just as cloud computing offers unconstrained access to processing capacity and storage, the “human cloud” promises to connect businesses to millions of workers on tap, ready to perform tasks and solve problems that range from the simple to the complex. The article explores four new human cloud models: The Facilitator model, The Arbitrator, The Aggregator, The Governor.

Image courtesy of Greif.

The Benefits of Sustainability-Driven Innovation

Results from the fourth year of MIT SMR’s research collaboration with the Boston Consulting Group have found that managers who say sustainability has caused their organization to change its business model are also more likely to say that the organization’s sustainability activities have added to profits. Respondents to the survey who changed their business model also generated profits from their sustainability-related activities.

Image courtesy of Wal-Mart.

Rebuilding the Relationship Between Manufacturers and Retailers

In the tug of war between manufacturers and retailers, retailers seem to be winning. Retailers control market access and influence consumer behavior. Their power has moved downstream. What can be done to improve the situation? While manufacturers are locked into fixed investments and products with long payback cycles, retailers have a variety of ways of making money. This article explores how manufacturers can benefit by tailoring their approaches to a retailer’s specific business model.

Showing 21-40 of 536