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In conversation with MIT’s Donald Sull, Doerr explains the key advantages of developing OKRs and why companies must turn their focus to setting the right objectives.
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Consumers and employees increasingly expect companies to engage with social, environmental, and economic issues. But business leaders can find themselves between a rock and a hard place, especially when corporate political activism is framed as “take a stand or be silent.” The reality is that companies need a more nuanced set of options.
The conventional wisdom of goal setting is so deeply ingrained that managers rarely stop to ask if it works. The traditional approach to goals — the annual cycle, privately set and reviewed goals, and a strong linkage to incentives — can actually undermine the alignment, coordination, and agility that’s needed for a company to execute its strategy.
Lurking within the financial statements and communications of public companies is a troubling trend. Alternative metrics, once used sparingly, have become increasingly ubiquitous and more detached from reality.
Most CEOs have detailed long-term plans, which are often closely held secrets out of concern that competitive advantage may be undermined by detailed disclosure. Yet disclosing a long-term plan provides an opportunity to identify financially material sustainability issues and demonstrate how the company manages business-critical issues — information that’s valuable to investors.
Algorithms are affecting many aspects of daily life, but most people have no clarity as to how they work — even in the companies that create and use them. But individuals and organizations need to carefully consider what this lack of transparency means when it comes to fairness and honesty in commercial interactions and decide where to draw the line on data ethics.
Blockchain is a data storage technology with implications for business that extend well beyond its most popular application to date — the virtual currency, Bitcoin. Managers need to build their organization’s absorptive capacity around this topic for at least three reasons: (1) the potential effects on organizational value chains, (2) communication within and between organizations, and (3) benefits from cooperation.
Is AlphaGo the supersized model of your future machine management assistant? What to consider when you’re in the market to enhance your company’s digital capabilities. And if you are looking for a way to enhance the value of transparency, try videotaping – and maybe even broadcasting – your executive meetings.
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