Strategy

Ben-Hur-guiding-CEO-learning-1200

Aligning Corporate Learning With Strategy

  • Research Feature
  • Read Time: 19 min 

Too many corporate learning and development programs focus on the wrong things. "The word ‘learning,’ which has largely replaced ‘training’ in the corporate lexicon, suggests ‘knowledge for its own sake,’” write the authors. “However, to justify its existence, corporate learning needs to serve the organization’s stated goals." Understanding the strategic agenda of the CEO should be a top focus of learning leaders, who can then developing an agenda that is reflective of the CEO’s priorities.

Weill-tool-online-1200
Free Article

How is Digitization Affecting Your Business?

  • Blog
  • Read Time: 2 min 

How much of a threat does digital disruption present to your business? A short online questionnaire from Peter Weill and Stephanie L. Woerner, both of MIT Sloan's Center for Information Systems Research, helps assess digital risk. “Although sweeping technology-enabled change often takes longer than we expect, history shows that the impact of such change can be greater than we ever imagined,” they write. “Think steam engines, cars, airplanes, TVs, telephones and, most recently, mobile phones and e-books.”

weill-1200

Thriving in an Increasingly Digital Ecosystem

Research from MIT Sloan School of Management’s Center for Information Systems Research says that to prepare for a future of digital disruption, companies need to consider which of four business models to adapt. "Given the amount of turmoil digital disruption is causing, it’s time for companies to evaluate these threats and opportunities and start creating new business options for the future — the more connected future of digital ecosystems," write Peter Weill and Stephanie L. Woerner, both of CISR. Companies also need to develop new capabilities in two areas: learning more about their customers and becoming "more of an ecosystem."

marques-1200

Why Corporate Social Responsibility Isn’t a Piece of Cake

Corporate Social Responsibility "is fraught with contradictions, subject to political challenges and demands deep commitment," argue José Carlos Marques and Henry Mintzberg. Responsible corporate behavior, they write, isn't simply “doing well by doing good.” Instead, six changes need to be considered, within and beyond our private institutions. These changes include fostering ethical judgment within the enterprise, rethinking compensation and acknowledging the benefits of regulation.

tate-1200

Integrating Supply and Demand

To compete in different strategic segments at the same time, companies need close coordination between the sales side of the company and supply chain operations. Just as importantly, joining the supply and demand sides of an enterprise presents an opportunity for efficiency and value creation. "A company may have an excellent sales and marketing team and a top-flight operations team and still deliver the wrong benefits to a customer," the authors note. This article includes an online questionnaire for assessing the current stage of your company’s demand and supply integration, with suggestions for how to improve.

advertisement

Santos-stock-1200

The New Mission for Multinationals

Something strange is happening as globalization marches forward: Increasingly, powerful local companies are winning out against multinational competitors. Some 73% of executives at large multinational companies say that “local companies are more effective competitors than other multinationals” in emerging markets. To compete effectively, multinationals need to let go of their global strategies and embrace a new mission: Integrate locally and adapt globally. That means becoming embedded in local distribution, supply, talent and regulatory networks as well as in the broader society.

Frery-1200

Competing With Ordinary Resources

Not every company can be built around exceptional talent or exclusive technology. Instead, companies also can thrive by the innovative use of ordinary resources, such as well-managed staffs and competent websites. As management scholars Sumantra Ghoshal and Christopher Bartlett once wrote: “The key function of management is to help ordinary people produce extraordinary results.” The authors examine how business models leveraging regular resources will take different approaches than those focused on scarce strategic resources.

Csaszar-1200

When Consensus Hurts the Company

How do managers “decide how to decide”? Boards and management teams often try to gain consensus, but that’s not always the best course. Research offers insights into when consensus building is the right way to go and when it isn’t — and how leaders can determine the best form of decision making for a given situation. “By prompting a rule on how the decision will be made — by unanimity, majority or delegation — you can significantly influence what will be decided,” note the authors.

westerman-1200

Revamping Your Business Through Digital Transformation

Large companies in traditional industries might think that digital transformation can wait — that a follower strategy is a safer route than trying to be a pioneer. "That kind of thinking, while tempting, is wrong," write George Westerman and Didier Bonnet. "In every industry we studied, companies are doing exciting things with digital technology and getting impressive business benefits."

Image courtesy of The Walt Disney Company http://thewaltdisneycompany.com/disney-news/mohl-mickey-mouse-clubhouse-photo
Free Article

Is It Time to Hire a Chief Legal Strategist?

  • Blog
  • Read Time: 3 min 

Here’s a strategic angle that most businesses don’t think about: how they can use the law to secure strategic business goals. Leading companies such as the Walt Disney Company have managed to deploy their legal departments to shape the legal environment in order to secure long-term competitive advantages. But approaching legal issues in sophisticated and creative ways isn’t generally a specialty of most C-suite executives. That’s where a “chief legal strategist” comes in.

advertisement

schoemaker-REV-1200

The Power of Asking Pivotal Questions

Good strategic thinking and decision making often require a shift in perspective — particularly in environments characterized by significant uncertainty and change. Managers can make better decisions by examining both broad market trends and less visible undercurrents. But the questions leaders pose sometimes get in the way of solving the right problem or seeing more innovative solutions. Here, the authors present six questions that challenge executives to incorporate broader perspectives.

Fiksel-1200

From Risk to Resilience: Learning to Deal With Disruption

In a volatile, global economy, supply chains have become increasingly vulnerable. Supply chain practices designed to keep costs low in a stable business environment can increase risk levels during disruptions. But companies can cultivate resilience to unexpected disruptions by understanding their vulnerabilities and developing specific capabilities to compensate for them. The authors identify and detail 16 capabilities companies can use to respond to particular vulnerability patterns.

Matzler-1200

Adapting to the Sharing Economy

Instead of buying and owning products, consumers are increasingly interested in leasing and sharing them. New strategies can help companies embrace this “collaborative consumption.” For instance, Ikea and Patagonia have found that helping people resell or give away products both enhances the companies' reputations and helps customers create space in their homes for new Ikea and Patagonia items. Companies have also found value in embracing opportunities to share existing assets and capacities.

Image courtesy of Flickr user Mikel Ortega. https://www.flickr.com/photos/mikelo/4056467981
Free Article

The Key to Business Success: 'Stringing Multiple Opportunities Together'

  • Blog
  • Read Time: 2 min 

New research looks at the strategies executives use in capturing new growth opportunities. “Resist jumping at the first potential opportunity,” write Christopher B. Bingham (Kenan-Flagler Business School), Nathan R. Furr (Marriott School of Management) and Kathleen M. Eisenhardt (Stanford University). Instead, evaluate whether one opportunity will it set you up for future ones — what the authors call “sequencing opportunities.” They write: “Sustained business success appears to depend not just on capturing one opportunity but also on stringing multiple opportunities together.”

King-1200

Why It Pays to Become a Rule Maker

Managers in some leading companies have pioneered a new approach to sustainability. In this approach, businesses have the potential to be rule makers as well as players in establishing environmental regulations. “There is an expression in Washington,” says DuPont’s Michael Parr, “that it is better to be at the table than on the menu.” Indeed, by engaging with government on the structure of the phaseout of air conditioning chemicals, DuPont helped bring an end to one profitable product life cycle and spawn another.

advertisement

Turner-1000

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.

mangelsdorf--1000
Free Article

From the Editor: Strategy in the Midst of Change

How do you develop strategy in a business environment characterized by rapid change and considerable uncertainty about the future? That’s a question that many executives in fast-changing industries face. The Fall 2014 issue of MIT Sloan Management Review features a special report on strategy in changing markets, with articles on creating new strategic narratives, capturing new opportunities and finding the right strategic role for a board.

Kaplan-1000

Beyond Forecasting: Creating New Strategic Narratives

In rapidly changing industries, it can be hard for established companies to build momentum for new strategic directions. But by rethinking the past and present and reimagining the future, managers can construct strategic narratives that enable innovation. A new study helps to understand how managers actually make strategy in conditions of considerable uncertainty, and do it in a way that is coherent, plausible and acceptable to most key stakeholders in the organization.

Bingham-1000

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.

Cossin-1000

How Strategic Is Your Board?

Strategic thinking at the top of a company is more important than ever for business survival. But boards of directors have no clear model to follow when it comes to developing the strategic role for the companies they oversee. Should they supervise, cocreate or support strategy? A structured assessment of a board’s strategic responsibilities can bring clarity to its role in creating strategy, and boards should be prepared to change their role in strategy if the industry context changes.

Showing 1-20 of 304