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Industry Disruption: Sequence and Timing of Responses Are the Key to Survival

Idea posted: March 2018
  • Strategy

In the case of major industry disruption, successful companies survive through a well-orchestrated series of strategic moves. New research shows that the sequence and timing of those moves can make the difference between failure and success. 

Idea #698
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Rupert Murdoch at the World Economic Forum, 2009 (Source: Wikimedia Commons)

Extravert CEOs and Strategic M&A Decisions

Idea posted: January 2018
  • Strategy
  • Leadership & Change

New research based on 2800 corporate CEOs shows that extraverted CEOs are more likely to engage their firms in the uncertainty of M&A activities, proving that CEO personality can drive firm behaviour. However, under certain conditions, the situation dictates the options available to CEOs, regardless of their personalities. Thus, for example, even less extraverted CEOs make more acquisitions in highly competitive industries.

Idea #686
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St George Kills the Dragon, Edward Burne-Jones, 1866 (Courtesy: Art Gallery of New South Wales)

How to Make and Keep Customers Grateful

Idea posted: January 2018
  • Strategy
  • Innovation & Entrepreneurship
  • Marketing

Forget discounts. Customers perceiving a genuine effort by companies to invest in the customer relationship will feel grateful toward the company — an emotion that leads to overall (and longer lasting) customer satisfaction.

 

Idea #688
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Cincinnati, USA. Photo by Jordan Andrews on Unsplash

In Uncertain Times It's Best to Have Fewer Industry Experts on a Board

Idea posted: September 2017
  • Strategy
  • CSR & Governance

Having domain experts on boards is often touted as an advantage. New research shows, however, that too many experts from a company’s industry can actually hinder a board’s efforts in times of strategic uncertainty.

Idea #672
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FAEF conference room, Fairport, NY (Source: Wikimedia Commons)

Supervising Projects Despite Limited Time and Expertise

Idea posted: June 2017
  • Strategy
  • Leadership & Change

Time and expertise limitations can cause steering committees (SCs) in charge of major and complex strategic projects to make errors in judgement and decision-making. The result: such common but serious problems as being late and over-budget. Proactive steps and awareness can help SCs avoid the traps.

Idea #661
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Corporate Culture: A Key Drivers of a Firm’s Value

Idea posted: January 2017
  • Strategy
  • CSR & Governance
  • Leadership & Change

A survey of more than 1300 executives confirms that for most leaders, corporate culture is one of the top five contributors to a firm’s value — and that current CEOs are most responsible for establishing an effective culture.

Idea #641
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Aligning Your Organization for the Digital Future

Idea posted: October 2016
  • Strategy
  • Leadership & Change

A global survey of executive and managers reveals that many companies are ill prepared for the disruption that digital trends will bring to their organizations and industries. A minority of ‘digitally matured’ companies, however, are making the required cultural, talent management and strategic changes.

Idea #633
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Sugar Factory with clean vapor emission, Minas Gerais, Brazil, 2007 (Source: Wikimedia Commons)

Meeting Sustainability Priorities in Competitive Operational Strategies

Idea posted: August 2016
  • Strategy
  • CSR & Governance
  • Operations

Environmental and social sustainability priorities can be integrated with traditional priorities to varying degrees. Companies competing on innovation, for example, are more open to environmental and social sustainability than companies competing on price. Yet for all companies, environmental and social sustainability priorities play an increasingly greater role in their success.

Idea #618
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Official U.S. Navy Imagery – a sailor presents his girlfriend with an engagement ring (Source: Wikimedia Commons)

The Competitive Implications of Customer Expectation

Idea posted: July 2016
  • Strategy
  • Marketing

Past research has shown that products and services that don’t fit specific market categories are more likely to fail in the marketplace. A new study demonstrates that even a product with all the attributes of its category can fail. To truly understand the competitive dynamics of its market, a company needs to look beyond categories, and focus on the customer expectations that underlie those categories. 

Idea #612
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Tada' the Chinese poles, 2004 (Source: Wikimedia Commons)

Build Ambidextrous Teams to Combine Present and Future Objectives

Idea posted: July 2016
  • Strategy
  • Innovation & Entrepreneurship
  • Leadership & Change
  • Learning & Behaviour

Many companies separate short-term activities focused on the present (e.g. customer service, marketing) from long-term activities focused on the future (e.g. new product development). A new study, however, reveals the power of ‘ambidextrous’ teams, where cohesion overcomes the challenge of pursuing both present and future objectives.

Idea #613
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The seven dwarfs, Snow White, 1937, produced by Walt Disney Productions (Source: Wikimedia Commons)

Motivation Profiles: Pay and Reward Vs Fulfilling Work

Idea posted: June 2016
  • Strategy
  • Leadership & Change
  • Learning & Behaviour

Building on four types of motivation, a new survey helps identify different profiles of motivation for managers, offering a mix of extrinsic (e.g. salaries) or intrinsic (e.g. fulfilling work) rewards. The profiles reveal how the different motives of managers impact their job attitudes. 

Idea #609
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Ten Steps for New Executives: Understand the Culture before Implementing Change

Idea posted: May 2016
  • Strategy
  • CSR & Governance
  • Leadership & Change
Institutions: IESE Business School

New executives must immediately understand and evaluate a company’s culture before launching any significant change initiatives. They must ask themselves: Is this the right culture for the future? And given the current values, norms and beliefs of the company, how can I best implement change and build the foundation for sustainable success?

Idea #606
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How a Marketing Doctrine Overcomes the Flexibility Vs Consistency Conundrum

Idea posted: February 2016
  • Strategy
  • Marketing

Diversified or decentralized firm face a conundrum: How do you ensure that marketing decisions are consistent across the entire company without undermining the flexibility required to tailor marketing decisions to local circumstances? The answer: A marketing doctrine based on unique principles that guide without dictating. 

Idea #584
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Why the Chief Marketing Officer Matters

Idea posted: February 2016
  • Strategy
  • CSR & Governance
  • Leadership & Change
  • Marketing

The position of Chief Marketing Officer has come under fire recently, with some arguing that a CMO does not really add value to a company. A new research study counters this view; showing that companies with CMOs perform up to 15% better than companies who leave the CMO seat empty. 

Idea #581
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British generals, during the Battle of Gazala, 1942 (Source: Wikimedia Commons)

The Power of Scenarios to Open New Perspectives

Idea posted: February 2016
  • Strategy
  • CSR & Governance
  • Innovation & Entrepreneurship
  • Learning & Behaviour

Well-known as a strategic planning tool, the scenarios methodology can drive potent academic research that shatters assumptions and reveal radical new perspectives on major issues and problems.

Idea #582
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411_World War 2 poster. Wireless operators (Courtesy: BT Archives)

CIOs: Coach and Communicate with C-suite for Digital Innovation

Idea posted: January 2016
  • Strategy
  • CSR & Governance
  • Innovation & Entrepreneurship
  • Leadership & Change

European companies are losing innovation opportunities because C-suite executives fail to respond to information technology and digital-related proposals of the CIO and the information technology function of the company, according to a new survey of European companies in three countries. The problem: lack of communication between IT and non-IT leaders.

Idea #573
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Organizational Resilience Is Reinforced by These Two Variables

Idea posted: January 2016
  • Strategy
  • CSR & Governance

Demonstrating the role of governance in resilience, a new study shows that employee-owned businesses (EOBs) are more likely to resist the damage from an economic downturn than non-EOBs — however, only if ownership is accompanied by a strong employee voice in company decisions at all levels. 

Idea #577
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Stakeholder-Focused Accounting: Value Creation and Risks

Idea posted: December 2015
  • Strategy
  • Finance

Current accounting methods inadequately represent and reward stakeholder value creation. Value-creation stakeholder accounting (VCSA) — which combines the disciplines of accounting, value creation and stakeholder theory — is the theoretical foundation for new stakeholding-focused accounting. The best mechanism for implementing the theory is through value-creation stakeholder partnerships (VCSPs), derived from partnership accounting (as opposed to traditional entity convention accounting). 

Idea #571
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fMRI brain scan, 2010 (Source: Wikipedia Commons)

Why the Best Strategic Thinkers Are Both Rational and Emotional

Idea posted: December 2015
  • Strategy
  • Learning & Behaviour

The brain, through the magic of fMRIs (neuroimaging procedures), tells the true story of how the best strategic thinkers think: they deactivate their rational, linear prefrontal cortex, and activate the older, intuitive-sensing parts of the brain that triggers emotions and social awareness — the same parts of the brain on which creative artists draw their inspiration. Move over, Porter. Make room for Picasso. 

Idea #574
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‘Circle reflect wikipedia 2’ by Dachris, 2006 (Source: Wikimedia Commons)

The Rise of Integrated Corporate Reporting

Idea posted: October 2015
  • Strategy
  • CSR & Governance
  • Finance

Creating an integrated report enables companies to communicate an holistic picture of their prospects, one that is broader than offered by traditional financial reports. Integrated reports cover strategy, governance, performance and forecasts. A new framework for ‘Integrated Reporting’ (IR) has been created to help organizations bring these elements together. Integrated reports benefit both external stakeholders and leaders within the organization.

Idea #555
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What Influences Our Choices? What Others Prefer or What They Actually Consume

Idea posted: October 2015
  • Strategy
  • Marketing

A series of psychological experiments reveal that people will imitate others’ preferences, but not their actions — a revelation that can have marketing implications. For example, Facebook ‘likes’ are more influential than lists of best-selling products.

Idea #556
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Jean Charles de Menezes, memorial plaque at Stockwell Station, London (Source: Wikimedia Commons)

Bad Framing Leads to Bad Decisions and Bad (Even Fatal) Actions

Idea posted: October 2015
  • Strategy
  • Leadership & Change
  • Learning & Behaviour

Decision makers must frame or ‘make sense’ of events and situations, and then make their decisions accordingly. A groundbreaking analysis of an innocent civilian’s tragic shooting by anti-terrorist police reveals how groups of individuals commit, through the interaction of communication, emotions and material cues, to a single, common frame — in this case an erroneous frame. It is a cautionary tale for leaders and other decision makers, exposing how errors or assumptions can cascade into a complete misunderstanding of situations.

Idea #563
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Beware of Over-Optimistic Investors Skewing High-Risk Stock Prices

Idea posted: September 2015
  • Strategy
  • Finance

Investor sentiment has a, sometimes erroneous, effect on stock market valuations. There is evidence that higher risk stocks become overpriced in periods of optimistic sentiment and undervalued when sentiment is pessimistic. Optimism attracts equity investment by unsophisticated, overconfident, retail investors in risky opportunities while such traders are less active in pessimistic periods. Thus sentiment can wrongly influence company share prices, and both investors and CFOs planning financial strategy should be wary.  

Idea #549
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The McDonalds sign in Times Square (Source: Wikimedia Commons)

Mapping Brand Strategy: Balancing Centrality Vs Distinctiveness

Idea posted: August 2015
  • Strategy
  • Marketing

A new tool, based on scoring brands on their centrality (i.e. the brand of record) and distinctiveness (i.e. the brand that stands out from the crowd) can help marketers and strategists determine the best paths for growth and profitability. 

Idea #540
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Henry the Navigator leading Vasco da Gama, Magellan and others. Monument of the Discoveries, Lisbon, Portugal (Source: Wkimedia Commons)

What Does It Take to Develop Globally Competent Leaders?

Idea posted: August 2015
  • Strategy
  • CSR & Governance
  • Leadership & Change
  • Learning & Behaviour

Most companies recognize the importance of training top leaders in global competence skills, according to a new survey of more than 300 HR professionals. Many companies, however, are unsatisfied with their leaders’ and potential leaders’ skills in this area. A variety of methods can help build multicultural sensitivity and other global capabilities. 

Idea #541
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CFO Survey: Most Hit by Hackers Otherwise Optimistic

Idea posted: July 2015
  • Strategy
  • Finance
  • Innovation & Entrepreneurship
  • Operations

New research from Duke University’s Fuqua School of Business global survey of CFOs reveals that 80% of companies have been hacked. Small and medium-sized businesses have been the hardest hit. Other results from the CFO survey include expectations of wage hikes and the impact of the strong U.S. dollar on U.S. exports.

Idea #534
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Adapt Your Choice of Product-Related Services to the Industry Life Cycle

Idea posted: July 2015
  • Strategy
  • Marketing

Different types of services — from ‘complementary smoothing’ services such as maintenance support to ‘substituting’ services such as leasing arrangements — can be more or less effective depending on the current phase (early ferment, middle transition, or late mature) in the life cycle of the product’s industry.

Idea #531
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Napoleon at the Battle of Wagram 1809, Horace Vernet, 1836 (Courtesy: Palace of Versailles)

Ensure the CEO Gets the Right Information at the Right Time

Idea posted: July 2015
  • Strategy
  • CSR & Governance
  • Leadership & Change
  • Learning & Behaviour

CEOs must be informed at all times about all internal and external facets of the company relevant to his or her performance as leader of the company. A personal knowledge infrastructure, based on the right practices, relationships and tools and aligned with the needs and personality of the CEO, can make the difference between leadership success and failure. 

Idea #532
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Composition VI, Wassily Kandinsky, 1913 (Courtesy: The State Hemitage Museum, St Petersburg)

A Symphony of Agency and Stewardship Values Ensures Family Business Success

Idea posted: May 2015
  • Strategy
  • CSR & Governance
  • Innovation & Entrepreneurship
  • Leadership & Change

Agency theory describes a contractual relationship between managers and shareholders who have divergent interests. Stewardship theory describes a collaborative relationship between managers and shareholders toward shared goals. Which works best for family businesses? New research reveals that a combination of the two, changing as the business moves through its lifecycle, offers the best recipe for success. 

Idea #518
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Gaspar Melchor de Jovellanos at his desk, Francisco Goya, circa 1798

How to Use Compensation and Team Composition to Manage Procrastination

Idea posted: May 2015
  • Strategy
  • CSR & Governance
  • Leadership & Change
  • Learning & Behaviour

Project managers must manage the tendency of project workers to procrastinate, which leads to delayed efforts and, subsequently, quality problems. Understanding the behavioural biases of project workers leads to solutions to procrastination — solutions related to compensation, team composition and the management of information. 

Idea #519
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