Strategic Thinking

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How Business Ecosystems Rise (and Often Fall)

  • Frontiers

  • Research Highlight
  • Read Time: 13 min 

It’s tempting to look at high-profile business ecosystems and assume that the model is a reliable formula for success. In fact, many ecosystems never earn a significant market share, and only about 15% dominate their markets over time. An analysis shows that most share a common life cycle, with several critical windows along the way. For management, the key is understanding these windows and adjusting the company’s strategy over time to meet the unique requirements of each.

How to Become a Strategic Leader

  • Read Time: 7 min 

For managers, it can be easy to fall into the trap of assuming that simply engaging in high-level product and business discussion is “being strategic.” But with this approach, leaders may be neglecting the core problems their organizations need to address most. By investing more time in three key activities, new and experienced managers alike can become better strategic leaders.

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A Structured Approach to Strategic Decisions

Many decisions about strategy require that senior executives make evaluative judgments on the basis of extensive, complex information. Such work is prone to common errors, but a disciplined, sequential approach can mitigate those errors and improve the quality of both one-off and recurrent decisions in an array of business domains. The process described in this article is easy to learn, involves little additional work, and (within limits) leaves room for intuition.

The Myths and Realities of Business Ecosystems

  • Frontiers

  • Research Highlight
  • Read Time: 13 min 

The rise of ecosystems requires a new way of thinking about business: the ecosystems perspective. If we can describe this unique perspective, and clear up the myths and confusions surrounding the use of the term, we position ourselves to design strategy effectively in ecosystems.

The Risk of Machine-Learning Bias (and How to Prevent It)

Machine-learning algorithms enable companies to realize new efficiencies for tasks from evaluating credit for loan applications to scanning legal contracts for errors. But they are as susceptible as any system to the “garbage in, garbage out” syndrome when it comes to biased data. Left unchecked, feeding biased data to self-learning systems can lead to unintended and sometimes dangerous outcomes.

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What Sets Breakthrough Strategies Apart

Composing valuable strategies requires seeing the world in new and unique ways. It requires asking novel questions that prompt fresh insight. Even the most sophisticated, deep learning-enhanced computers or algorithms simply cannot generate such an outlook. Innovative strategies depend more on novel, well-reasoned theories than on well-crunched numbers.

The Case Against Agility

  • Read Time: 5 min 

Leaders today must wean their companies away from three pieces of conventional wisdom about digital strategy: agility, first-mover advantage, and minimum viable product. These ideas have anchored technological decision-making for over a decade but are highly unsuitable for the emerging world. In conditions of environmental uncertainty and interconnected technology, we need more thoughtfulness rather than more speed.

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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Harnessing the Secret Structure of Innovation

Innovation, much like marketing and human resources, can be made less reliant on artful intuition by using information in new ways. But this requires a change in perspective: We need to view innovation not as the product of luck or extraordinary vision but as the result of a deliberate search process.

Stop Jumping to Solutions!

When presented with complex decisions, many executives turn to the tried-and-true decision matrix, spelling out the pros and cons of various options. One flaw in this method, however, is that executives don’t take the time to thoroughly frame the decision and explore the full scope of options. But the matrix’s real value is when it is also used as a process tool that helps executives expand their set of options and criteria.

The Lost Art of Thinking in Large Organizations

Making the transition from management to leadership requires managers to exercise skills in strategic thinking — skills they don’t often get to practice in the action-oriented environment they know best. Managers moving into senior leadership must learn to embrace ambiguity and uncertainty and learn the importance of taking time to think things through.

Showing 1-20 of 33