"The most dangerous decision-making fallacy is that informed decision-makers will naturally make better, more objective decisions. Making consistently timely, effective, informed decisions takes hard work. Trust me – it’s worth it. Effective decision-making is the essential common ingredient behind every successful step, initiative, and strategy that people, organizations, and national governments undertake."
According to a recent survey, a majority of Fortune 500 CEOs see Artificial Intelligence (AI) as a big challenge[i]. Their feelings are spot on because smart technologies, including AI, are already disrupting markets, and rendering many competitive strategies and business models obsolete. Fortunately, emerging opportunities are staggering for those prepared to exploit them. AI and related technologies are projected to add $10-$15 trillion in GDP by 2030. So – Why are CEOs
Technology is complicating laws and undermining legal precedent. The Internet has redefined the meaning of interstate commerce, which is integral to the US Constitution. The Supreme Court of the United States (SCOTUS) in its 1992 Quill Corporation vs. North Dakota decision set a ‘property or employee’ standard to limit State taxation of interstate commerce. The Quill decision has been largely overturned. There will be many more cases related to technological advances in c
Professor Robert Grant succinctly differentiates corporate from business strategy: “Corporate strategy is concerned with where a firm competes, business strategy is concerned with how a firm competes within a particular area of business.” Corporate strategy focuses portfolios of businesses or business units. It plays an important role in mergers, acquisitions and divestitures. Corporate strategies have been closely connected to conglomerates. Companies like GE, J&J, Unite
The viability of strategy in our dynamic times is a recurring theme among strategists. They've raised important questions. Why develop a business strategy, when technology will quickly render it obsolete? Why not focus on business models instead? They are closer to operations and are first to experience technological disruptions. Strategy in this context is a reactive exercise conducted in hindsight. So - Why do it at all? My not so simple answer is that strategy is as critic
The terms Strategy and Business Model are used so frequently in business writing that they suggest widespread definitional agreement. The opposite is true,. The focus and structure of strategy have changed since the 1960s, when Bruce Henderson’s Experience Curve positioned companies based on costs relative to competitors. Business Models have also changed in scope and structure since their heyday in the 1990s. The rise of the personal computer, networks, databases a
Disruptive technological innovations usually affect business models before companies appreciate their strategy implications. Innovative technologies can lower costs, improve quality, change value propositions and change customer preferences. Companies in affected industries generally respond by upgrading their systems and processes. Market pressures and operational considerations drive these changes, with limited strategic guidance. Analysts often miss this important point an