Harmful management practices should be treated like corporate viruses by eradicating the conditions that foster them.
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For organizations, there is no shortage of hype about the potential for data and analytics. But the reality is that creating competitive advantage from data is elusive for many organizations. Our 2016 report on data and analytics, “Beyond the Hype: The Hard Work Behind Analytics Success,” outlines just how much resolve companies need to make an analytics strategy work.
With increasing amounts of work getting done outside the traditional corporate office — for example, through employees working at home — those left in the office may face a lonelier, and even less productive, office environment. In fact, working remotely may be contagious, because if many people on a team aren’t in the office much, coming into the office has less benefit for the remaining employees. “Once a certain number of individuals are working offsite, everyone is isolated,” write researchers.
Computers, scanners, mobile and wearable technology have made it both easier and harder for companies to find their customers. Easier, because there’s so much more data about consumer behavior; harder, because analyzing that data is a significant challenge (never mind deciding how to act on the analytics). Companies like Epsilon are stepping up to help businesses to figure out what the data tell them about their customers — and what to do with that knowledge. In a Q&A, Epsilon’s CEO Andy Frawley describes some of the challenges his company works through on a daily basis.
Soccer’s governing body, FIFA, is in crisis over corruption — and MIT Sloan Management Review’s guest editor for Sustainability, Gregory Unruh, says the situation offers a useful case study for corporate social responsibility. By looking at the FIFA scandal, Unruh argues, managers can learn how to identify corruption from a systems perspective — and understand why it harms their business.
The skill set for both companies and individuals of the future will be to embrace impermanence and continual reconfiguring, according to Benn Konsynski, a professor of information systems at Emory University. He says both organizations and employees need to prepare for the “the remix era” and “the certainty of unknown.” He sees “improvisation” as a personal and enterprise necessity in the 21st century.
A significant majority (87%) of respondents to our sixth annual Sustainability and Innovation survey agreed that corporate boards should play a strong role in sustainability efforts, but only 42% reported that their boards actually were engaged on this topic.
If you’re lying awake at night fretting that your competition has mastered analytics when you haven’t, take a breath — many of the stories we hear about analytics success are likely skewed. The transition to analytics-focused business is still far, far from universal, and that, says information systems expert Sam Ransbotham, means you have a chance to catch up.
This year’s winning article on planned change and organizational development is “Making Mergers Work,” by Hamid Bouchikhi and John R. Kimberly. The authors examine why mergers and acquisitions so often fail to achieve the results and synergies they promise. “Our work in this field has convinced us that there is no ‘one best way’ but rather four distinct paths that can be followed to achieve identity integration: assimilation, federation, confederation and metamorphosis,” they write.
As it has become clearer that data offers value to companies, some organizations are tempted to take a “more is better” approach. But there’s a fine line between collecting data that offers value and hoarding data, which ultimately proves counterproductive. Ransbotham’s Three Laws of Data Collection offer guidance.
An audio briefing by Gerald C. (Jerry) Kane, co-author of the 2014 social business research report by MIT Sloan Management Review and Deloitte. The report indicates that that measurement sophistication is finally taking hold in social business. More than 90% of “socially maturing” companies actively measure their social business efforts. The authors explain why C-suite leadership is crucial to reaping value from social business.
For organizations to achieve the psychological synergies required to realize economic synergies from mergers and acquisitions, executives need to attend to a more complex set of identity issues. These issues define the essence of the entity and give employees a clear answer to the question “Who are we?” and external stakeholders a clear answer to the question “Who are they?” Left unattended, these identity issues will diminish engagement and will affect the performance of the merged entity.
As China’s growth and integration into the world economy continue, many companies are looking for ways to build effective business relationships with Chinese companies. China’s ways of doing business are becoming more Westernized, but non-Chinese executives must still work hard to build trust in relationships with their Chinese business partners. But developing trust between Chinese and Western executives takes time. This article explores methods for developing cross-cultural trust.
Peggy Ward, director of the Enterprise Sustainability Strategy Team at Kimberly-Clark Corporation, says that having strong support from the company’s Chairman & CEO, his global strategic leadership team, four business units and an external sustainability advisory board have been crucial to building and meeting aggressive sustainability metrics.
Research from the London School of Business looks at the role a company’s distinctive beliefs play in strategy and how to mine that “uncommon sense.”
Most strategy making begins in the wrong place. Many companies rely on frameworks and models from the strategist’s toolbox, including industry analysis, market segmentation, benchmarking and outsourcing. As a result, they short-circuit the real work of strategy and miss out on finding new insights into the preferences or behaviors of current or potential customers. Few companies develop original strategies by formulating hypotheses and then testing them in a competitive setting.
Companies traditionally pursue growth by investing heavily in product development so they can produce new and better offerings; by developing consumer insights so they can satisfy customers’ needs; or by making acquisitions and expanding into new markets. This article identifies a fourth method: “business model experimentation,” or using thought experiments to quickly and inexpensively examine new business model possibilities.
Research has shown that several factors influence a company’s ability to retain market leadership. However, one factor has largely been ignored: the psychological forces that drive decisions consumers make and, specifically, the degree to which people feel they have choices. Once people have learned a company’s technology interface, they become more efficient using that interface and are often reluctant to switch to products requiring new skills or allowing limited transfer of current skills.
The big potential for social media is to be a tool for mass collaboration, say Anthony Bradley and Mark McDonald of Gartner, Inc. The challenge for companies: look beyond the obvious uses for marketing and communicating.
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