Competitive Strategy

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When SMART Goals Are Not So Smart

  • Research Highlight
  • Read Time: 6 min 

The traditional “SMART” approach to goal setting may no longer offer companies the best path forward. In a continually changing competitive environment, companies should develop their goals in the context of current conditions.

How Big Data and AI Are Driving Business Innovation in 2018

According to a 2018 NewVantage Partners survey, executives now see a direct correlation between big data capabilities and AI initiatives. For the first time, large corporations report having direct access to meaningful volumes and sources of data that can feed AI algorithms to produce a range of business benefits from real-time consumer credit approval to new product offers.

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We Must Rescue ‘Win-Win’ From Its Buzzword Status

  • Blog
  • Read Time: 6 min 

Companies tend to compete not as individual entities, but as members of networks — which makes collaboration a strategic necessity, not merely a tactical choice. But while many executives say they want win-win solutions, in reality, they usually seek victories that don’t excessively annoy their counterparts. In other words, “win/no-lose” is a more accurate description.

Surviving in an Increasingly Digital Ecosystem

  • Research Highlight
  • Read Time: 5 min 

Companies today will have to reinvent themselves to survive, and every large and ambitious company should be trying to figure out how to become a destination for its customers. Consumers are voting with their mobile devices and choosing from a handful of dominant “ecosystem drivers”— businesses such as Amazon and WeChat, which become destinations for their customers’ needs by offering complementary or sometimes competing services — for each domain in their lives.

The Five Steps All Leaders Must Take in the Age of Uncertainty

Leaders need a new mental model to better understand the complex interplay between companies, economies, and societies. To do so, they must shift their focus to the broader business and social ecosystems in which their companies are embedded.

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The Best Response to Digital Disruption

Although digitization’s disruptive influence is growing rapidly, there’s surprisingly little empirical evidence on the magnitude of digital disruption — nor any showing how companies are reacting on a broad scale. A new global survey of C-suite executives looks at how digitization unfolds across industries and how incumbents are responding. With some notable exceptions, the answer is: “Not well.”

Building a More Intelligent Enterprise

The authors examine how managers can combine a sophisticated understanding of human decision making with technology-enabled insights to make smarter choices in the face of uncertainty and complexity. Integrating the two streams of knowledge is not easy, but once management teams learn how to blend them, the advantages can be substantial.

Revisiting the Logic of Being Global

  • Blog
  • Read Time: 1 min 

The state of the multinational and how “the world is losing its taste for global businesses” is the subject of a recent cover story in The Economist titled “The Retreat of the Global Company.” For many multinationals, the article notes, the case for global integration has been hurt by falling profits, lower returns on capital, and increasing pressures from governments looking to protect local jobs and tax revenue.

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Finding a Lower-Risk Path to High-Impact Innovations

Pursuing a high-impact innovation strategy can have terrific payoffs — but it’s also extremely risky, and most companies won’t do it. Yet a comparatively less risky, proactive approach that strings together “lily pads” of capability-building investments, technical and conceptual advances, and market explorations into “enabling innovations” can bring companies closer to their goal and provide a long-lasting competitive edge.

Do You Know What Really Drives Your Business’s Performance?

Although intuitively appealing, strategy maps and models such as the service profit chain have a common pitfall: They encourage managers to embrace general assumptions about the drivers of financial performance that may not stand up to close scrutiny in their own organizations. A more rigorous analytic approach called performance topology mapping may help managers avoid these assumptions, as well as the strategic mistakes they promote.

Managing Tensions Between New and Existing Business Models

Exploring new business models may be a good way to stay competitive, but doing so can create tensions internally, in areas such as organizational structure and competition for resources. Companies exploring business model innovation may not recognize the inevitability of these tensions and thus be poorly prepared to manage them. But understanding these issues may lessen some of the organizational challenges associated with business model innovation.

Showing 1-20 of 69