Executing Strategy

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Working Toward Totally Transparent Yogurt

Wood Turner has been working in sustainability for 20 years. In 2006 he left his work at a sustainability and brand strategy firm in Seattle to lead Climate Counts, a nonprofit incubated within Stonyfield which scores and ranks large companies on their efforts to address climate change. Now VP of sustainability innovation at Stonyfield, Turner continues his work on bringing climate-conscious practices into the core of business operations. In an interview, Turner describes the collaborative processes that make this strategy work.

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The Opportunity Paradox

How can companies capture new opportunities most effectively? When evaluating new business opportunities, there’s a paradoxical tension between strategic focus and flexibility. Managers tend to be opportunists or strategists, and while most managers focus their attention on opportunity execution, opportunity selection appears to matter as much. Sustained business success seems to depend not just on capturing one opportunity but also on stringing multiple opportunities together.

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Data Analytics Makes the Transition From Novelty to Commodity

Business is nearing a tipping point in which the use of data analytics is becoming routinely adopted. While widespread adoption of analytics will mean that it offers less competitive advantage to companies, it also means that the business environment overall will change. Information systems expert Sam Ransbotham identifies four key changes that businesses need to consider now.

Image courtesy of Flickr user Simon James.  https://www.flickr.com/photos/bearpark/6861722073
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How to Compensate For Overoptimistic Project Leaders

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Would you know if a project was heading off the rails? Too often, members of project teams are crossing their fingers and providing only the most hopeful updates. After reviewing 14 studies into the ways in which individuals report (and misreport) the status of information technology or software projects, the authors identified five specific areas for leaders to look out for to avoid being blindsided.

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The American Red Cross: Adding Digital Volunteers to Its Ranks

The American Red Cross has become an excellent example of how to use social media to connect people during the three cycles of disaster: preparedness, response and then recovery. Its digital volunteers help calm people in the middle of events, and its community mobilizers help coordinate services afterwards. “We want to blur that line about who’s a Red Crosser and who’s not, to say, ‘actually, this is up to all of us,’” says the organization’s Wendy Harman.

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Reimagining Customer Service at KLM Using Facebook and Twitter

For KLM, social business arose as a spontaneous response to the Icelandic volcanic eruption that spewed ash into Europe’s airspace for days, halting all air travel and stranding thousands of passengers. Since the abrupt birth of the airlines’ social business strategy, e-commerce senior vice president Martijn van der Zee has made the company a model for using social in customer service.

Photo credit: Justin Sullivan/Getty Image News/Thinkstock
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Is Hostility to Blame for Sustainability’s Leadership Gap?

When a conservative think-tank challenged Apple’s sustainability programs at a recent shareholder meeting, CEO Tim Cook didn’t back down, refusing to bow to its calls to suspend any activities that didn’t “add to the bottom line.” Apple’s shareholders rewarded him with resounding support. If sustainability is to increase its profile as a business priority, more executives will need to follow Cook’s lead.

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The Art of Selling with Social Tools

“Our lives have increasingly migrated online in recent years, so why wouldn’t [sales] reps want to connect with customers on the social media front as well?” That’s the logic of Hearsay Social, whose platform lets sales people keep track of what their customers are posting on Twitter, LinkedIn and even Facebook. Says Gary Liu, vp of marketing, “social media can be used very effectively to enhance real-world interactions.”

Image courtesy of Flickr user abplanalp_photography.
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When Should You Fire Customers?

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Many customers are simply not profitable. Letting them go is one option, but so is trying to train them out of expensive behavior. Options suggested by Jiwoong Shin and K. Sudhir, both of Yale School of Management, include reducing services to unprofitable customers and educating them to use less costly service channels. “We recognize the mix of concerns, both ethical and practical, that swirl around firing customers,” write Shin and Sudhir. “We advocate firing customers only as a last resort.”

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Acquisitions That Make Your Company Smarter

It’s challenging to successfully integrate any acquired company. It’s even more complicated when you purchase a business for its knowledge. From Pfizer Inc.’s acquisition of Icagen Inc. to Walt Disney’s acquisition of Pixar, knowledge-based acquisitions are focused on acquiring new knowledge — related to product features, customer needs, processes or technologies — and depend on assimilating the two companies’ expertise. Included: a sidebar on “Six Steps for Smoother Knowledge Transfer.”

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Bringing Sustainability Metrics to Purchasing Decisions

When hotel chain Hilton Worldwide looked at supply chain sustainability, it lacked tools to help weigh sustainability factors. Hilton partnered with sustainability consultant BSR to create the Center for Sustainable Procurement. In this interview with MIT SMR’s David Kiron, Hilton’s VP of supply management William Kornegay and Eric Olson of BSR discuss how the initiative evolved.

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Video: Making Social Business Work in Organizations

Companies are getting better at managing social tools. A new survey finds that 40% of companies say they’re getting value out of social business, double the rate of a year earlier.

Behind the increased usefulness of social business are companies that have leaders committed to making the technology work. These leaders are also putting it into corporate strategy plans and developing ways to measure social business and to reward employees for using the technology. Still, at many companies, social business remains stuck in first gear.

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The Nine Obstacles to Digital Transformation

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To get real transformation from technology requires company leaders to set digital priorities and work together across departments to reach those goals. A new survey identifies nine significant leadership, organizational and cultural challenges that work against digital transformation. But leaders who present a strategic vision and continue to articulate it will get buy-in from employees, a large majority of whom see technology as a way to gain real competitive advantages. Digital transformation is a challenge — but a manageable one.

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The Sweet Spot of Sustainability Strategy

Today’s fringe issues in the sustainability world often become tomorrow’s mainstream and generic market expectations, writes Gregory Unruh of George Mason University. Between these two extremes lies a third territory, which Unruh calls “strategic.” “It is in this strategic territory that proactive companies have the best opportunity to influence the sustainability standards for their industry,” he writes.

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Driving Change Through Corporate Programs

CEOs of large companies introduce corporate programs as a way to foster strategic renewal. But whether the goal is boosting profitability, improving business models or establishing new directions for growth, it’s important to match the design of the program with the desired outcomes.

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Five Steps To Leading Change Successfully

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Before making a change, you need to identify the influencers who can push the project forward — or who can cause it to stall. “Left unattended, skepticism, fear and panic can wreak havoc on any change process,” write Ellen R. Auster and Trish Ruebottom.

Their solution is a five-step, proactive process designed to help leaders navigate both the politics and the emotions that are churned up by heading in new directions. The steps include mapping the key stakeholders who will be affected by the change and involving the most influential of them.

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A Process of Continuous Innovation: Centralizing Analytics at Caesars

Over the past several years, Caesars has undergone a reorganization, in part to centralize its analytics functions. It has sought to build a deeper understanding not only of customers, but also of operations — everything from food and beverage analytics to labor analytics. Ruben Sigala, chief analytics officer at Caesars, talks with MIT Sloan Management Review contributing editor Renee Boucher Ferguson about that process, some valuable lessons learned, and where innovation and intuition play a role.

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.

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The Messy Business of Management

In a period of rapid technological and business change, successful executives particularly need the ability to think critically — and to be aware that some of their most cherished assumptions may, at any point, be challenged or invalidated by changing events. Business schools excel at teaching young managers well-structured models, theories and frameworks but need to spend more time helping their students surface, debate and test the assumptions underlying each model, theory or framework.

Showing 1-20 of 67