Even firms that typically prefer to centralize decisions needn’t miss out on the benefits of opening up their strategy making. Strategy making has traditionally been the purview of the top management team. Leaders in the inner circle of organisations pride themselves in being the architects of their plans. Open strategy is a more recent concept […]
Contracts, transactions, and the records of them are among the defining structures in our economic, legal, and political systems. They protect assets and set organizational boundaries. They establish and verify identities and chronicle events. They govern interactions among nations, organizations, communities, and individuals. They guide managerial and social action. And yet these critical tools and […]
In the world of the firm, something is changing. It’s not that your local bookstore went out of business. Or that your taxi driver now rates you on a 5-point scale. Or that anything can now be outsourced, allowing even the smallest firms to rent capabilities on demand. It’s more profound than these. The prevailing […]
It’s easy to see why so many view companies like Uber, Amazon and Google as the business models of the future. They’ve redefined their industries. They’ve rewired the customer experience. They’re not afraid to fail fast, learn from mistakes and make the changes necessary to stay well ahead of the market. None of this is […]
The theory of disruptive innovation, introduced in these pages in 1995, has proved to be a powerful way of thinking about innovation-driven growth. Many leaders of small, entrepreneurial companies praise it as their guiding star; so do many executives at large, well-established organizations, including Intel, Southern New Hampshire University, and Salesforce.com. Unfortunately, disruption theory is in […]