One way firms can build value is through kaizen, a Japanese management concept that focuses on making small, continuous improvements to processes, systems, and practices. After contrasting two value-creation approaches, this article explores how companies can apply kaizen to increase operational efficiency, remove barriers to growth, and strengthen their competitive position. Two Value-Building Approaches All […]
In a world that emphasizes perfection, mistakes are often seen as things to avoid. However, the Japanese ceramics practice of kintsugi views cracks and defects as integral features to be highlighted rather than concealed. This practice offers valuable insights for businesses. Rethinking our perceptions of imperfection can broaden our understanding of business experiences, reduce the […]
Due to changes in markets, competition and corporate culture, the organizational structure of many companies has become increasingly horizontal. This shift has dramatically changed traditional concepts of leadership. This article discusses leadership dynamics in horizontal organizations, how firms can promote leadership abilities and how all people can become stronger leaders in flatter work environments. The […]
Creating business strategy often involves selecting a meta-strategy objective and then designing specific sub-strategies to drive that objective based on market conditions, company resources and company DNA. One of the most common meta-strategy objectives is maximizing short-term economic opportunity. While this can generate high returns on company resources, it can leave a company economically exposed […]
The Pareto Principle posits that 80% of results come from 20% of causes. While this is a generalization that certainly does not apply in many cases, marked asymmetries between causes and effects have many important business implications, from how strategy is designed to how resources are allocated. For entrepreneurs and companies, a key challenge as […]
As the global economy has evolved and competitive dynamics have changed, the organizational structure of many companies has become flatter. While this shift has facilitated economic growth and cross-functional innovation and problem solving, it has also created unique corporate challenges. Without agreed decision-making procedures and values, horizontal decision-making can become inefficient, cause companies to drift […]
The growing size of physical as well as digital markets has created massive sales opportunities for businesses. Yet, marketing to an increasingly wide audience is challenging because there can be a significant disconnect between how a company views its products and services and how potential customers view them. This disconnect has significant implications, not only […]
Despite their potential, many Boards of Directors are significantly underutilized in the corporate decision-making process. Many Boards, particularly in private companies, are marginalized bodies consulted at the last minute as a formality to rubber stamp company management’s preferred course of business action. This often results in making suboptimal decisions and losing the opportunity to use […]
With the advent of tools such as ChatGPT and the power of open source platforms, many traditional barriers to competition are increasingly falling. Tasks that previously took years of experience, required privileged access to data, and had to be implemented over long periods can now be done almost instantly by anyone with Internet access. These […]
Decision-making is heavily affected by bias. Biases can cause us to overlook facts, reframe issues, and distort our perception of the world around us to fit what we are consciously or unconsciously trying to see. This can lead to many decisions that have negative impacts on companies. While it is not possible to be completely […]
